Jasper County Democrat, Volume 2, Number 34, Rensselaer, Jasper County, 25 November 1899 — PCOPLE TAUGHT TO SAVE. [ARTICLE]

PCOPLE TAUGHT TO SAVE.

EwsrksMsOisuAsfOrsatmMalsWi KottrlGce Fsvisgt Bask. The history of the post office avlags bank of Great Britain is specially remarkable. There is nothing computable with it in the wor!4 as a savings Institution. It was founded only thir-ty-eight years ago and it now has 7,000,000 depositors and bolds in trust o ver 16004)00,000. The business of the central administrative department In London has grown to sack enosmoas proportions that an area of live acres has recently been purchased at West Kensington, in the outskirts of London, wherein new buildings will be erected for its accommodation. The corner stone of the main structure was laid in June by the Prince of Wales. Every postoffice in the United Kingdom Is a branch of this bank, and there are 1,200 branches. The lnstttntlou has been popular with the masses from the beginning, and its beoedts la the encouargement of thrift and providence have been beyond estimation. One in every fire persons in England and Wales is said to have an account in these banks, and one in every fourteen in Scotland and Ireland. The institution catches the small savings, the average sum on deposit by the 7,000.000 depositors being only about SBO- - device is employed to encourage the making of deposits and to render the banking process simple and convenient. The elementary schools of the country co-operate with the banka and the <jJ»ildren form a large percentage of the depositors. Penny -stamp slips are provided whereby children sue enabled to begin an account with a minimum deposit of 1 shilling. An in terest rate of 2% per cent. Is paid.