The name reaches back to when my wife was a young girl growing up in Hyde Park, Massachusetts. Her grandfather was a skilled carpenter. Once, he gave her a hand carved wooden bowl with one lonely penny in the bottom. He told her it was a seed and that when she returned there would be more pennies.
Every week when she looked at her penny tree, the pennies did grow and she and her grandfather would roll them up to take to the bank for deposit in her savings account – except of course for one seed.
The amounts deposited in that passbook were not large but they were consistent.
One day early in our marriage when we were struggling to make ends meet financially, my father-in-law showed up with that long forgotten passbook. Those pennies saved by a little girl years earlier helped us get by when we really needed a few extra dollars. The lessons taught by a thrifty carpenter are worth commemorating.
And, we still have the original Penny Tree sitting on our dining room hutch.