Rensselaer Semi-Weekly Republican, Volume 22, Number 6, Rensselaer, Jasper County, 9 October 1900 — THIRTY TONS OF PENNIES SAVED BY CHILDREN. [ARTICLE]

THIRTY TONS OF PENNIES SAVED BY CHILDREN.

Chicago’s Penny Savings Society has only been established for a few years, but its deposits have increased as follows: Year ending June 30, 1898 $19,140 Year ending June 30, 1899 33,960 Year ending June 30, 1900 71,793 William C. Hollister, who is acting president of the Chicago Penny Savings Society, says that it is operated entirely on a philanthropic basis and supported by voluntary contributions. There are only two salaried officers, young ladies, at tbe office in the Schiller building. This system is in operation only in half tbe schools in Chicago, yet the amount of money deposited by the children last year averaged 30 cents for every child in the Chicago school district, and 60 cents per capita for all the children in the schools in which tbe Penny Savings Society is operated. The weight of last year's savings was thirty tons of American pennies, an enormous mass of money for the little ones to put by in the banks within one year. It will be noticed that tbe increase between tbe amount deposited in 1898 and 1899 waa 70 per cent. But between 1899 and the year just ended the increase -n the amount of.pennies deposited was considerably more than 100 per cent. The children would certainly not be able to nave their pennies if their parents did not have the money to give them, SBd the exhibit made by the Chicago Penny Savings Society is certainly a straw showing that the people of Chicago have experienced more and more good times and prosperity during the Republican administration of President McKinley. ‘ /