useful knowledge in respect to account-keeping—­or, rather, by habituating them from an early age to the management of their affairs in this systematic manner, will train them from the beginning to habits of system and exactness.  A very perceptible effect in this direction will be produced on the minds of children, even while they have not yet learned to read, and so can not understand at all the written record made of their pecuniary transactions.  They will, at any rate, understand that a written record is made; they will take a certain pride and pleasure in it, and impressions will be produced which may have an effect upon their habits of accuracy and system in their pecuniary transactions through all future life.

Interest on Balances.

One great advantage of the plan of having an account over that of paying cash at stated times is, that it affords an opportunity for the father or mother to allow interest for any balances left from time to time in their hands, so as to initiate the children into a knowledge of the nature and the advantages of productive investments, and familiarize them with the idea that money reserved has within it a principle of increase.  The interest allowed should be altogether greater than the regular rate, so as to make the advantage of it in the case of such small sums appreciable to the children—­but not too great.  Some judgment and discretion must be exercised on this as on all other points connected with the system.

The arrangements for the keeping of an account being made, and the account opened, there is, of course, no necessity, as in the case of payments made simply in cash, that the business should be transacted at stated times.  At any time when convenient, the entry may be made of the amount which has become due since the time of the last entry.  And when, from time to time, the child wishes for money, the parent will look at his account and see if there is a balance to his credit.  If there is, the child will be entitled to receive whatever he desires up to the amount of the balance.  Once in a month, or at any other times when convenient, the account can be settled, and the balance, with the accrued interest, carried to a new account.

All this, instead of being a trouble, will only be a source of interest and pleasure to the parent, as well as to the children themselves, and, without occupying any sensible portion of time, will be the means of gradually communicating a great deal of very useful instruction.

Employment of the Money.

It will have a great effect in “training up children in the way in which they should go,” in respect to the employment of money, if a rule is made for them that a certain portion, one-quarter or one-half, for example, of all the money which comes into their possession, both from their regular allowance and from gratuities, is to be laid aside as a permanent investment, and an account at some Savings Bank be opened, or some other formal mode of placing it be adopted—­the bank-book or other documentary evidence of the amount so laid up to be deposited among the child’s treasures.