Johnnie took a little calf as pay for hoeing corn,
    He loved the calf and the calf loved him as sure as you are born. 
    The calfie grew to be a cow, as all good calfies do,
    Then father up and sold her, and kept the money, too.

    Now, Johnnie loved his little pets, but father loved the pelf,
    So Johnnie left his father’s farm and struck out for himself. 
    Said Johnnie’s pa, one summer day, “I often wonder why
    Boys don’t like life upon the farm, ‘the city’ is their cry.”

    “It always will be strange to me,” continued Johnnie’s pa,
    “It only goes to prove, though, how ungrateful children are.” 
    When Johnnie heard what father said, he gave a bitter laugh,
    And thought of his empty childhood and of his pig and calf.

Savings may be deposited in savings banks, which accept small deposits and pay compound interest, usually at a rate of 3 per cent or 3 1/2 per cent.  Such banks operate in accordance with state or national laws to protect the depositor against loss.  Many schools conduct school savings banks.  The pupils bring their small amounts to the teacher or to some pupil acting as “teller,” the collected funds then being deposited in some bank in the community.  These school banks promote habits of thrift and afford experience in business methods, besides bringing into use in the world’s work many small amounts of money that would otherwise be lying idle or spent unwisely.

POSTAL SAVINGS SYSTEM

In 1910 Congress established the Postal Savings System under which any post office may be a savings bank.  Any person over ten years of age may deposit money at the postal savings bank in amounts of from $1.00 to $25.00, receiving from the postmaster postal savings certificates as evidence of the deposit.  Provision is made for savings accounts of less than a dollar by selling postal savings stamps at ten cents each, ten of which may be exchanged for a dollar certificate.  Two per cent interest is paid on postal savings, but savings certificates may be exchanged for postal savings bonds, bearing interest at the rate of 2 1/2 per cent.

LENDING TO THE GOVERNMENT

The purchase of Liberty Bonds or Savings Stamps and Thrift Stamps is a good investment and a patriotic act.  The money raised in this way is used for the national defense and for reconstruction after the war.  The Savings Division of the United States Treasury Department carries on a campaign of thrift education.  Among other things, it promotes the organization of savings societies and thrift clubs, because thrift is a habit which is encouraged by the example and cooperation of others.  In Randolph County, Indiana, for example, each consolidated school has its thrift club, and over 75 per cent of the pupils are members.  One of these schools sold over $11,000 worth of thrift stamps, and others sold from $1500 to $3500 worth.  Savings societies exist among the workmen of many industries, and employers report that these have increased the purchase of homes, and have resulted in a saving of materials and tools because of the habits of thrift established.