The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-12-20
CHRISTMAS GIFTS.
Practical Suggestion to Capitalists
Willing to Reward Employees.

The season of the year is rapidly APP
preaching when the giving of holiday
presents will occupy the attention of
many and when one and all of these
will be searching to find something
that will be at the same time both use
full and acceptable 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
BY this is meant scrip for bonds or
stocks of states, cities or commercial
institutions
The direct advantages of such pres
ents are obvious and lie principally in
the fact that if carefully chosen, the
value is a constantly increasing quaint
ty, and that there is yearly return
thereon, instead of a depreciation, or
even, as certain gifts entail, an out of
pocket expenditure. The indirect ad-
vantages are not SO apparent, but are
1 of an even more far reaching character
and may be described as 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
present with the sole purpose OF anus
ing but to those children OF an older
| growth, who are capable of approaching
the intrinsic value of a gift in addition
to the sentimental.
| In the majority of cases a present IS
like a new toy, which interests for
time and later finds its way to the
rubbish heap, having become ValueleSS.
In certain others it is useful for a time
until in the nature of things is decay
and again in others it is an OBJECT Of
ornament and consequent pleasure put
cannot be described as unitarian In
the case of the gift of a security the
value remains for all time an addi-
tionaI annual return is assured, and the
sentiment is as great, if not greater.
At Christmas time it is the usual Gus
tom of corporations and individual en-
q al substantial TecOE%
milton of the efforts of their employees
in helping to build up the credit TO
profit and loss account which represents
their personal returns on the year 5
work and a cash donation is the usual
means employed. In other cases serv-
ants are rewarded for faithful services
and encouraged to future efforts by the
donation of legal tender of the nation o.
a greater or less value. Under ordl-
nary circumstances the giving of actual
| cash is custom to be condemned IN
!. asmuch as it leads to extravaRance u
some form or other, and encourages the
idea of laviShness rather than OF tnrfIt
The one difficulty in the way OF sub
!, stituting securities for monetary pres
ents is that of obtaining them OF pro-
portionately low denomination. but II
EMPLOYERS would realize that the pre-
sentation of a $1,000 per cent gold
bond in a substantial undertaking
means the providing OF an annual N.
: come of $50 for life, this difficulty Woulo
be overcome, inasmuch as one such GER
) tificate would be equal to an annual gift
of 500 extended over period OF q
5 years, amounting in the aggregate te
50 900 in that period. The same reason
: ing applies to a security of face valut
| of 300. which can often be bought To-
D. less and which equally often would yieie
r larger return with only moderate
e amount of risk.
To consider the less direct advantages
: accruing from this form of present. It /:
S necessary TO consider that the recipien
would usually be one who was not &C
v customed to the handling of securities
z and whose imagination would be fred By