The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-17
CHRISTMAS GIFTS.
Practical Suggestion to Capitalists
willing to Reward Employees.

Practical Suggestion to Capitalists
willing to Reward Employees.
New York Mail and Express.
The season of the year is rapidly ap-
preaching when the giving of holiday pres
ents will occupy the attention of many
and when and all of these will be
searching to find something that will be
at the same time both useful and accept
able to the recipient. In this connection
and the advice is given in all good faith
there is one form of gift that fills both
these requirements and has additional ad-
the transfer of securities. BY this is
meant scrip for bonds or stocks of States,
cities or commercial institutions.
The direct advantages of such presents
are obvious and lie principally in the fact
that, If carefully chosen. the value Is a
vantageS that none other offers, namely,
constantly increasing quantity, and that
there is a yearly return thereon instead
of depreciation, or even, certain gifts
entail, an out-of-pocket expenditure. The
indirect advantages are not so apparent,
but are of an even more far-reaching char
acter and may be described tending to
distinct moral elevation of those who
are fortunate enough to be the receivers.
This does not, of course, apply to chill
dren of tender age, to whom one gives a
present with the sole purpose of amusing,
but to those children of an older growth,
who are capable of approaching the in
trinsic value of gift in addition to the
sentimental
In the majority of cases a present is like
new toy, which interests for time and
later finds its way to the rubbish heap,
having become value,esS In certain others
ii Is useful for a. time. until IN the nature
of things it decays, and again in others it
Is an object of ornament and consequent
pleasure, but cannot be described as util-
itarian. In the case of the gift of a Sc
curity the value remains for all time an
additional annual return Is assured, and
the sentiment is as great, If not greater.
AT Christmas time 1t is the usual GUS
tom Of corporations and individual en-
| ployers to make some substantial recogni-
| ton of the efforts of their employees in
! helping to build up the credit to profit and
| loss account which represents their per-
sonal returns on the years work, and a
| cash donation is the usual means employed.
| In other cases servants are rewarded for
| faithful services and encouraged to future
/ efforts by the donation of legal tender of
the nation of "A greater or less value. Un-
| der ordinary circumstances the giving of
| actual cash is a custom to be condemned,
| inasmuch as it leads to extravaganza i'm
some form or other and encourages the
| idea of lavishness rather than of thrift.
The one difficulty in the way OF sub
| stituting securities for monetary presents
| is that of obtaining them of a proportion
| ately low denomination, but if employers
would realize that the presentation of a
| $1,000 per cent gold bond in a subsfan-
| tial undertaking means the providing OF
an annual income of $50 for life. this. diff
ficulty would be overcome. inasmuch as
| one such certificate would be equal to an
| annual gift of 500 extended over a period
| of twenty years. amounting In the aggre-
] gate to $1,000 in that period. The same
| reasoning applies TO a security of a face
| value of $780, which can often be bought
! for less and which equally often would
| yield larger return with only a moderate
| amount of risk.
| To consider the less direct advantages
| ACQUIRING from this form of present, IL Is
| necessary to consider that the recipient
! would usually be one who was not ac-
| customed to the handling of securities
| and whose imagination would be fired by
| noting the value of the annual income
| derived therefrom. This would engender
| a spirit of thrift and desire to possess
| more, resulting in an effort TO save out
| Of salary sufficient 10 purchase others.
| thus making provision for old age The
| lack OF this appreciation Is too often the
| cause of regret in the winter OF life. ne
| cessitating the continuance of labor when
| a rest from toll would be both beneficial and
| deserved One of the saddest sights o.
| this strenuous twentieth century existence
| is to see an old man struggling with youth
| and vigor for his daily existence and
| literally going from his Office 10 his grave
| through failure TO lay by provision for old
| age during the time when his earning
| power was in its prime.
| During the past week an instance OF
generosity on the lines suggested In this
| article has come to light In the case OF
/! Mr.. Bernard Baker. president of the At
lantic Transport line OF steamships. On