Travelling Banks

New Zealand Tablet, Volume 19, 19 July 1906, Page 33

Travelling Banks

A new idea for encouraging Ihfift is being developed in Italy. It is nothing more or less than an automatic bank. I n a cast iron pillar there are three slits 1 . In the top one the coin is inserted — a ten centime piece. If it is false it is promptly rejected and falls out of a lower slit. If it be good the receipt instantly drops from the third opening at the bottom of She box. As soon as the depositor has collected five or more of these receipts he can cxch a nge them. lor a bank pass-book at the regular savings bank, and oh his sa. ings he will be paid by the government interest at Ihe rate of four per cent. By means of this excellent little invention the laborer is able to place a fraction of his daily wages at interest without the trouble or time incident on making a journey to the nearest post office— a great convenience, seeing that such banks are open only at certain hours and those not suited to the man who works with his hands.