Monday, December 25, 2017

The Postal Savings Stamp of the 50's

From: http://www.raylcoughlin.com/
   A postal savings stamp is issued by a government in collaboration with a local bank to enable small amounts of money to be saved as a thrift account.  The funds accumulated may be withdrawn as cash.  Often issued in conjunction with post office run savings banks.

   The Philippine Postal Savings program was introduced in 1907 to enable the poor to have a savings account with the smallest denomination.  Attractive postal savings bank stamps in five, ten, or twenty centavos were sold with a free folding cards with spaces on which to stick the stamps.  

   Well, what do you know?! The US followed the great Philippine idea in January 1911 and in 1942 used it as a war fund raiser.  The US Schools at War Program, was initiated to encourage children into school-based savings.  After the war, the Treasury Department continued to promote Savings Stamps to teach children about banking without having to commute to a bank.  The children purchased stamps from the teacher then filled a savings booklet, that when full, was surrendered for cash.  The program was successful throughout the 1950s.

   I was privileged to have a first hand experience with the postal savings stamps, as a student of Jose Rizal Elementary School, an elementary public school in Pasay City.  I still clearly remember how I embraced the thrift program by buying as much stamps to fill my booklet, from my daily allowance called ‘baon.  The teacher promised saving money would lead to riches and higher grades.  I remember getting my cash back from the filled booklets.  I didn’t get rich or the higher grade.  School postal banking declined in the 1960s and 1970s.

   The notable thing in this piece is that I found an original Filipino idea that the Americans took from us.  And there’s more:

   “Pedro Flores (26 April 1896- December 1963) was a Filipino inventor widely considered as the first Yo-yo maker in the United States and with his Flores yo-yo created the start of an international craze.” 

   “Erythromycin was discovered by Abelardo Aguilar when working for the pharmaceutical company Eli Lilly and Company as a researcher”  

   The video phone as early as 1954, “National Scientist Gregorio Y. Zara, a physicist, invented a device that makes it possible for two people to see each other on a television while talking on the telephone as early as 1954.” 
Filipino scientist Gregorio Y. Zara demonstrating his “telephone-television” invention in 1954. (Image: National Academy of Science and Technology Philippines via Facebook )

From:http://www.buzzland.it
   “The Cordillera Rice Terraces are one of the few monuments in the Philippines that show no evidence of having been influenced by colonial cultures.  Owing to the difficult terrain, the Cordillera tribes are among the few peoples of the Philippines who have successfully resisted any foreign domination and have preserved their authentic tribal culture...The Banaue Rice Terraces are 2,000-year-old terraces that were carved into the mountains of Ifugao in the Philippines by ancestors of the indigenous people. They are frequently called the "Eighth Wonder of the World".

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