16 NORTH 
S FSO & 
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> North Shore Bevvze § 
ee eens 
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Volume 9 October 20, 1911. Number 42 
Thrift 
Thrift is the conservation of en- 
ergy, time and power. By common 
consent these are expressed in terms 
of money. Money is merely a me- 
dium of exchange. It has no power, 
and consequently, no value, until 
such worth has been given by com- 
mon consent. To exchange the 
power and time and energy of men 
money is used. The energy, time 
and power of the farmer is in the 
products of his field, the wealth of 
the merchant is in the commissions 
of sale in hand. So in every avenue 
of wealth money is but a counter 
representing more or less accurately 
the accumulation of the products of 
the energy, the time and the _ re- 
sources of men. Thrift then while 
having to do with the guarding of 
wealth in money more accurately is 
the conservation and husbanding of 
the resources of nature and of the 
power of hand and brain of men. 
With such economy the wealth of 
nations is made and by neglect of 
thrift commonwealths are made 
bankrupt. While every effort is be- 
ing made to develop well-directed 
energy by education, and to econo- 
mize time by the application of 
trained minds to the problems of the 
world’s work and consequently de- 
veloping power in modern life 
equally intelligent provisions must 
be made for the care of the medium 
of exchange, namely, money. The 
modern school system is beginning 
to adapt itself to the situation and 
.«. G. E. WILLMONTON ... 
-Atterney and Ceunseller at Law- 
has introduced instruction in thrift, 
teaching the lessons of economy to 
the young. 
The United States Government, 
through the new department of the 
Postal Savings System, ‘‘has pledged 
the faith of the United States to the 
payment of deposits made in postal 
savings depository offices.’’ In this 
new department deposits may be 
made as low as ten cents by: the pur- 
chase of a stamp which is placed 
upon a savings card. These are re- 
deemed when numbering ten and a 
postal certificate for one dollar is is- 
sued. Other certificates are issued 
at two, five, ten, twenty, fifty and 
one hundred dollars, each bearing 
interest. at. the rate of two per 
centum per year which is added a 
year from the first of the month fol- 
lowing the issue of the certificate. 
Deposit. certificates redeemed before 
the expiration of a year sacrifice all 
claim to interest. Provision is also 
made to exchange the whole or any 
part of deposits in sums of $20, $40, 
$60, $80, $100 or multiples of $100 
up to and ineluding $500, into 
United States registered or coupon 
bonds bearing interest at the rate of 
two and one half per centum per 
annum, the interest and principal 
payable in United States gold coins 
twenty years from date. All such 
bonds are free of taxation in any 
form. 
By these provisions. the United 
States Government has made pro- 
vision for the savings of the child 
and a safe repository for unlimited 
savings of others to the safe guard- 
ing of which the faith of the United 
States is ‘‘solemnly pledged.’’ The 
movement in favor of the Postal 
Savings was a long while in develop- 
ing and will be popular in many 
sections of the country where banks 
are not numerous. Thousands of 
aliens have been using the money 
order department of the postoffice 
for the safe keeping of their funds, 
orders being taken out in their own 
name. It was expected that the new 
system would relieve the money or- 
der department of this burden and 
the results have been satisfactory. 
Offices serving this territory have 
been opened in_ Beverly and 
in Manchester, but these are not 
likely to prosper as such an office 
would in the isolated places of the 
west which are inadequately pro- 
vided with banking facilities. The 
Beverly National Bank makes pro- 
vision for a two per cent in- 
‘Willmonton’s Agency 
SCHOOL AND ENIGN STS, MANCHESTER O10 SOUTH BLB6, Boston 
terest for all accounts over five hun- 
dred dollars, the Beverly Co-opera- 
tive Bank affords unusual oppor- 
tunities for systematic savings, and 
the newly organized Manchester 
Trust Company with its interest and 
check accounts serves the interests 
of the community admirably. Con- 
sequently the new department can- 
not mean so much to this district as 
it must to more rural communities. 
An Interesting Experiment 
A little over two years ago the 
city of Beverly in conjunction with 
the United Shoe Machinery Com- 
pany inaugurated a movement to 
provide ambitious boys of poor 
parents an opportunity to earn a 
little to pay the usual bills in life 
and at the same time have the ad- 
vantages of school. As the result of 
eareful study the Beverly Day In- 
dustrial School was organized with 
a Board of Directors independent of 
the school system of the City of 
Beverly and the United Shoe Ma- 
chinery Company but with a unity 
of action and purpose. While this 
has been in form an _ independent 
school the pupils have been jointly 
under the charge of the United Shoe 
Machinery Company and of the 
Beverly public schools. A room was 
fitted out at the High school and a | 
space in the factory was set aside 
and at considerable expense 
equipped by the United Shoe Ma- 
chinery Company. The pupils have 
been taught in the school room the 
usual mysteries of mechanics, work- 
ing drawing, the reading of draw- 
ings and the making of blue prints 
and the intricacies of mathematics. 
At the shop the pupils learn to ap- 
ply their knowledge. The system 
provides for alternate weeks of ser- 
vice at the school and the shop. The 
results of the labor of the lads dur- 
ing the week are accepted according 
to the regular standards of the 
United Shoe Machinery Company 
and paid for at half rates. In this 
way the lads have been able to earn 
as well as learn. 
Now, the first trial of ‘‘gradu- 
ates’? has been made. Two weeks 
ago the superintendent of the fae- 
tory sent for four of the best boys, 
to be chosen by the teachers, ac- 
cording to the quality of work done 
and irrespective of name, race, 
ereed, color or previous relations in 
life. These were put to work in the 
factory on trial according to the 
usual standards of the Machinery 
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