The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-07-19
MORE REGARDING THE PROvI-
DENT FUND SCHEME PROPOSED
BY JACKSON.
ENCOURAGES
THRIFT
BY INDUCING THE POOR TO LAY BY
FUNDS FOR THE INEVITABLE
RAINY DAY.
NOT AMONG THE POOR ALONE,
Many Fairly WeII-to-dO Merchants
and business Men Are Patrons
of the scheme.

Because of the strong recommend
alton made by Secretary Jackson of
the Associated Charities in his recent
quarterly report published in the
lob e, reporter called upon him
to learn more concerning the pro-
posed Provident Fund, a scheme
for encouraging small savings by peo-
pie of meager incomes The subject
being introduced, Mr.. Jackson at once
became greatly interested and said.
The object Of the Associated Charities
is TO prevent as well as to cure extreme
poverty, and one Of the most effective
ways 10 accomplish this result is to
cultivate saving habits, because i'm
providence is a factor in nearly all pow
erty. Our experience has taught us that
we ought, as far as possible. to nullifv
tnls FAR reaching cause Of distress
americans, both rich and poor, are ex-
traVagant as compared with the other
most enlightened nations, and. with the
poorer people, disappointment and dis
enlargement often intensifies irnnrov3-
dent habits. Saving is the first stan
towards rising permanently out Of
need; often, it is the only way by which
the poor may avoid asking aims in
emergencies"
linen, said the reporter, cit would
seem there must be many such funds
established"
Mr.. Jackson: Eyes: there is suob o
Iund under the control of an ascot
ation similar to ours in New York, Bos-
ton, Buffalo, and in nearly every large
ni%
city as we'll as in many of the smaller
CUES The Associated Charities Of Des
Moines just established such q. fund
there; and Indianapolis says: "Our Pro-
Vldent Savings is one Of the strong
arms or our charity work." There thew
call on 300 people week, and. in 1895.
they collected $9,795. The committee in
charge or this fund in New York Civ
say Ihefe is no philanthropy SO use
Iul Tor so small an expense" In 1890
tney had 55 sub-stations. $50 denosi.
tors, and $5,56S.57 net deposits: in 1895
there were 300 sub stations. 50 1877 AZ,
pcsltors, and $31, 440.16 net deposits,
something like bank" the G o b q
man broke in.
NO, not bank. You know that it
is not uncommon for a person to leave
his savings with a friend for safe
Keeping. This fund simply takes the
place Of that friend AS soon as the
savings amounts to So, or S. the de-
posltor is encouraged to open his own
account in a savings bank, where he
can obtain interest No interest is maid
by Provident Funds, because the de-
post is SO small and the time is so
snort as to make it impracticable. The
Fund IS simply the agent of the one
VINO is saving, and its sole responsible
1ty ends when it has deposited the
savings in the duly approved savings
bank. Whatever interest the bank
pays on these combined deposits ap-
plies on the cost of collection"
How are collections usually made?"
mere IS not usually enough money
or personal interest with the depositors
to induce them to deposit in bank
and the managers of nearly all the
successful Funds send collectors to the
people at their homes, at large estab-
llshments, wherever people are regular
ly to be found. You must get near the
people If you would influence them. and
the personality of an interested visitor
must be injected into the business Of
saving If many are to be impressed
with its need or it's utility. The col
".
sets a good example,"
How are depositors induced to omen
accounts?"
Usually savings are commenced for
definite purpose, for clothing, food.
fuel or, perhaps, for the purpose Of
making present but I have known
families, commencing thus to save,
who so developed the habit that after
time a home was secured and, later,
small business or shop was establish
ed. The old saying, a penny saved two
pence earned Is well illustrated and it's
proof is taught in a practical way by
this scheme. 1t will be important if
some shall save for next winters dull
spell, but more important If frugal
habits are established
How are small accounts kept with
so many depositors?"
There are two plans in common use
the simpler is the stamp savings sys-
tenn, which is more convenient for the
depositor and saves bookkeeping. BY
this plan each depositor is provided
with card upon which the rules and
conditions are plainly printed To these
he subscribes his name and address.
His name, address and occupation are
subscribed to a smaller card which is
filed alphabetically in the central office.
Each time the collector calls the depos-
itor hands to her whatever money he
has saved, and the receipt therefor is a
specially prepared attractive stamp.
which is affixed to the deposftor's card.
Deposits can be made in no other way.
The cards are not transferable, so no
one but the depositor can make a with
drawal"
why has not the scheme been pro-
posed Sooner?"
1T should have been ecept our 9TH
er work needed to bewell advanced be-
fore this could be undertaken wisely
and economically. We have put for
ward no plans until the success of pre-
vfous undertakings warranted 1t. All
essential parts Of this plan have been
thoroughly tried and proven"
The work of friendly visitors has
SO developed as to need an agent to
look after certain common details. The
duties Of the collector takes her into
the same districts frequented by the
frlenly visitor, hence a collector can
easily act as agent, especially as colec-
tors duties are heaviest in summer
when the friendly visitors do the
least
No; all who use provident funds are
not on the poor list, but I have seen
many family, with capable hus-
nand on the poor list in an emergency
because they failed to lay bSy- ssfirase.l
sums when 1t could easily have been
done"
Yes; volunteers can act AS collectors
IN certain districts, and I hope that
some people who are anxious TO do
only personal work will here see an
unusual opportunity for usefulness"
mos. interest, Jan. 1, 1897. on depos,ts
made on or hafnra AuC -.