tem, as the law now stands, may be
looked upon, therefore, as supplementing the regular savings banks
rather than competing with them.

Sec. 9. #Collection of savings and education in thrift.# Small savings
have been encouraged in many places by penny provident funds, dime
savings banks, and school savings funds, which have been conducted at
public schools, social settlements, and factories, by school officers
and by charitable and educational societies acting through canvassers.
These plans all call for much personal effort and cost, which must be
provided by volunteer services and private gifts. These plans being
undertaken mainly as a means of education in thrift and in the
related moralities, their results are not to be measured merely by the
magnitude of the sums collected. They are not rivals of the ordinary
savings banks, but rather auxiliary methods of encouraging their use.
The funds collected by these agencies are usually deposited in local
savings banks, and depositors are encouraged to open individual
accounts there, whenever they have considerable sums saved.

In Germany the public schools have been furnished with automatic stamp
vending machines, from which savings stamps in as small denominations
as ten pfennigs (2-1/2 cents) may be had by dropping a coin into a
slot.[10] This method could be used very effectively in connection
either with the postal savings system or with a local savings bank. It
ought to be made easy to deposit funds at every school house, at every
post-office, at every factory counter on pay day, and wherever people
pass in numbers. Allurements to foolish expenditures meet old and
young at every turn; to spend the dime is made all too easy, whereas
to save it and deposit it in a safe place too often calls for wasteful
and discouraging efforts from the person of small means.

Sec. 10. #Building and loan associations.# Building and loan association
is the name applied to a cooeperative organization of persons with
the purpose of collecting regularly from members small sums which
are loaned to some members for the purpose of building or paying
for homes.[11] The first association of this type was organized in
Frankford, Pennsylvania, in 1831. It and others of its kind have
made Philadelphia notable among all the larger cities as "the city of
homes." The number of such associations has almost steadily increased
in the United States. Pennsylvania continues to rank first in respect
to amo