New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-12
CHILDREN,s SAVINGS IN FRANCE.
GOVERNMENTS PLAN TO ENCOURAGE FRU-
GALITT AND THRIFT

GALITT AND THRIFT.
Washington. Feb. Il CspeciaD.-In France every
school child from the age OF three years upward
may become more or less bloated Governments
bOndholder, and also qualify himself herself TO
receive assistance in case Of sickness by becoming
a member OF a mutual aid society These societies.
are organized under law which became operative
two years ago. Their object is afford assistance
10 their members during sickness and 70 furnish a
pension fund for Old age. 70 be drawn upon when
fifty, dfJy-dve sixty years old according TO the
amount deposited, the beneficiary may elect.
The maximum pension IS $50 francs
The children deposit two sous a week. which Is
divided into Two parts, one sou going TO the sick
fund and the other 70 the pension fund The latter
fund is placed in Government depository. where
it is invested in Government bonds and draws "a
Fer cent interest For every child contributes
in year the Government adds 1913 70 the
common fund II also gives a sum equal 70 one
fourth OF the entire amount deposited by the chill
dren. The one sou weekly which goes 70 the pension
fund cannot be recovered except in the form OF
pension II the child dies before reaching the age
limit, or for any other reason drops OF the list
OF depOSitOrs, his the STATE This fur
nishes an incentive only 10 economy and thrift.
but also TO preserve health and live long as pos
sible. The money derived from the reserve fund
passes TO The next OF II the deposition dies II
one franc IS deposited age OF three years II
viii yield 141z annually when the deposttor
reaches the OF fty-dve years and this sum VIII
be increased in proportion number OF francs
deposited until the limit OF 800 francs a year is
reached
The one deposited reserve capital does not
yield as high rate OF interest the pension fund
A franc deposited three years OF age VIII yield
only z pension the age OF dfuy-dve, bur
the depositor does not part with MS reserve cap
ttaL He cannot possess II himself but Il ne should
prenaturey die his next OF kin take the entire
accommodations and the deposiror IN the mean
time would receive the benefit OF It during sickness
This capital is also sweled BY national and some
times commercial appropriations. as well By
legacies and gifts from other sources. To each de-
any depositor present is 1000 francs but
after August, 1890, II viii be reduced 100 francs
Mr.. Covert. Consul AZ Lyons. says;
This society Is rapidly spreading throughout
france especially among the working classes. who
than the savings banks. The latter are becoming
gOrged with money.
The aims OF the children's societies. as set forth
briefly stated. are
To aid parents by paying them an indemnity
during the sickness OF their children OF 10 sous
day during the first and five a day during
the second and third months OF sickness, create
annual pension funds from the payment OF monthly
which can be enjoyed by all persons after q mem
bershtp OF fifteen years 70 Undue all children
early age with the elements OF economy; 70
tom them 10 the use OF q DalkbOOk- and the
consciousness OF having money work earning
something for them, and held II reserve for their
old age, and 20 create and maintain fund called
viii be exclusively used 70 provide means OF indus
trial education assist the depOsirOrs later in life
20 become members Of mutual aid societies. and
aid them IN establishing themselves in business