Print
Word
PDF|
This section contains 160 words (approx. 1 page at 300 words per page) |
|
Some of the economic casualties of the Depression were American school children Since 1920 the Savings Bank Division of the American Bankers Association, with the support of the National Education Association, had been promoting thrift campaigns and savings projects in the public schools The program was touted as an opportunity for schoolchildren to learn finance and personal discipline. By 1930 nearly 4.5 million children in fourteen thousand schools were participating, with deposits totaling more than $29 million. As banks around the country closed,however,the schoolchildren, as well as adults, lost their savings. Teachers sometimes compensated the children for their losses. In l935 Saint Louis school superintendent Henry J. Gerling gave twentysand dollars of his own money to cover the losses of schoolchildren. Nothing could compensate, however, for the loss of bankers' intended lesson about the rewards of frugality.
Source: Edward A Krug, The Shaping of the...
|
This section contains 160 words (approx. 1 page at 300 words per page) |
|
