What (else) did Rex Stout create?

[CaveMike]

I have read quite a few of Rex Stout’s Nero Wolfe books and most of them use the same Stout biography on the back flap. In the biography, they mention that Stout created a banking system that was used by over 400 schools. I believe this system made him wealthy. Does anyone know what this system entailed? I tried searching the web and found tons of info about Stout, but nothing about this system. There are a few Stout biographies, but they aren’t at my library. Does anyone know? Barring that, can anyone WAG?

[Exapno_Mapcase]

From Rex Stout, by David R. Anderson

The Educational Thrift System worked through schools and banks simultaneously to encourage school children to open savings accounts. An ETS representative would come to a town and persuade the school administration to start a savings program. At the same time, he would ask a local bank to participate. Then he would address the students on the virtues of thrift, ending with an invitation to join ETS. On a stated day every week or month, students would bring their money to school and the school authorities would transfer it to the bank. Teachers and administrators approved of ETS because it taught thrift and because it required the students to do math and to develop a sense of civics. Banks liked it because it was a cheap source of advertising and was not inconvenient: ETS supplied the passbooks and other paraphernalia. The system grew rapidly, outstripping its competition until, by 1924, it practically ran itself. Rex Stout was free to pursue other activities while growing rich.

Stout’s one-third share of the money came from royalties from the licenses ETS sold to implement the system. His brother actually conceived of the idea.

[carnivorousplant]

Wait a minute.
The creator of Nero Wolfe (an Under the Andes, but I digress) made money of the lunch money savings of children? No wonder he wrote about criminals.

[CaveMike]

Outstanding answer Exapno Mapcase - thank you very much. I didn’t expect to get an answer and I was surprised by the one that I got. Is Rex Stout worth reading? Should I try and get it through inter-library loan?

And carnivorousplant, we all know the true school-lunch crime is the food…

[carnivorousplant]

Stout is certainly worth reading.
Well, give Under the Andes a pass.
My favorite is Triple Zeck, but read them in order if you can.

[Exapno_Mapcase]

@CaveMike

Is Rex Stout worth reading?

Not unless you are a true fanatic. Half the book is nothing but summaries of the various novels. I assume I just picked it up real cheap used.

The only real bio is Rex Stout: A biography, by John J McAleer but only a fanatic would read that one either.

Just FYI and for fun, this page has a very neat timeline of all the Wolfe cases.