anking in Lilliland

ome time ago Baron Von Lodge was the head of a small country near Switzerland known as Lilliland.

Some of the people of Lilliland considered the Baron a generous leader, and others considered him frugal. One of the traditions Lady Angela of Alpine Castle, the Baron’s fiancée, and the Baron himself began was to give to each newborn child in Lilliland a savings account in the Lilliland Bank. The amount given was ten dollars to start the account.

It was hoped that the parents and grandparents of the child would teach the child the value of savings and banking.

Professor Hamblin, the Baron’s chief advisor, believed that the road to wealth was in having a good relationship with a bank.

The Professor emphasized to not be just a number on an account, but be in an actual banking relationship where the people at the bank personally knew the individual and, where possible, the family members as well.

Then, when the child grew up and went to college or bought a business, or bought a house, his banking contacts would be well established. He would have the reputation of being a person who always paid his debts.

But this meant starting early and saving money for the things that really mattered.

Also, it was important for the young person to learn that not all banks were alike. Some gave better interest rates than others. It was good to shop around as well.

Trial and error was one way of learning things, but learning from one’s mistakes could be time consuming and costly. It was better to have a parent teach the child the finer points of banking and investing.

Lady Angela had inherited so much money from her ancestors that she had to establish her own bank. She had to hire so many accountants and bookkeepers and investment specialists that it was cheaper to put them all under one roof and establish a bank.

In this way, she could keep track of her holdings and help the community with loans and other regular banking transactions.