The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-05
SAVING THE COIN
GREAT ARMY OF TOILERS ENCOUR-
AGED TO THINK ABOUT THE
MORROW.
SoCIOLOGISTS SAY IT'S GOOD.
COMMISSION CAME OVER FROM
FRANCE TO FIND OUT HOW AN
AMERICAN CONCERN
COULD PAY MEN sX PER CENT
On Their sayshgs-Win Recommend,
the Plan in France-Kentucky
Courts Decision.

The recent decision of a Kentucky
court forbidding building and loan as
sociations to charge members more
than 6 per cent interest for the use of
money has attracted general attention
to a very novel savings institution,
conducted for the benefit of working
men in Pittsburg. This institution,
about which little is generally known.
is maintained by the Carnegie Steel
company of that city for it's vast army
of employees.
A commission representing the Paris
Musee Social, headed by NJ. Paul de
Rousiers and composed of Prof. Louis
VigourouX, professor of economics at
the Special School of Architecture,
Paris; NJ. Francois de Carbonnel and
NJ. Pierre Claudio Jannet recently con-
Quoted an investigation of American
industrial conditions, and gave the Car
negie savings bureau system particular
attention. These distinguished French
men considered it a very wise and
practical philanthropy and have
brought the plan to the attention of
French employers in a recent report
submitted to the musee.
conceived the idea of this savings bu-
reau and today the Carnegie employees
have 81 ,0O0, 900 of their savings deposit
ed with the company. The company
pays it's wOrkmen a higher interest rate
on their savings than any public saw
ings or banking institution. con-
tract is made with the depositor to pay
q fixed rate of per cent interest per
annum, and this contract the company
has carried out in good and bad bust
ness periods, no matter how bank il
terest has fluctuated.
The Carnegie Steel company at the
Lucy furnace, keystone. Fridge works
Upper and Lower Upion mills, Pitts
burg; the Homestead steel works, Ed
gar Thomson steel works, Braddock
and the tSdquesne steel works employ
about $4,000 hands. When running
fr-n- handed it pays its workmen some
thing approximating $13, 100000 per an
mum in wages. This is about $4,000
for each working day of the year, OF
as much in one day as President Nc
Kinley receives from the government
in g. year.
The H. c. Frick Coke company, con-
ironing ABOUT oU per cent VI lic plO
ducing capacity Of the Connellsville
coke region, is an allied interest en-
ploying about the same number OF
worknen as the Carhea.r works. Its
miners and coke operatives, as well
as thousands Of coal miners in the vi
cinity of Pittsburg, the iron ore ham
dlers of Michigan, Minnesota, Wiscon-
sin and on the docks of the great lakes,
with the manganese diggers and mule
pack drivers of Chill and other foreign
countries, all largely depend upon the
operation of the Carnegie works to
realize upon their labor.
There is, therefore, a vast army OF
wage earners to be depended upon to
make deposits in the savings bureau.
The plan Of paying such liberal pre-
MUM to encourage saving will not suf'
fer by comparison with any profit
sharing enterprise, and in truth 1t may
be said the Carnegie workmen have
derived greater benefit, as it has been
only In exceptional cases In the recent