lain' In t4t Cahn.
INVESTMENT OF Ora T.L SAVINGS.
SIR—I believe John Wesley once said that he found that as people grew religious, they grew rich. lie said so regretfully, but it indicates the close connection existing between good character and worldly prosperity, which is an important point for the consideration both of the statesman, and the philanthropist, since the one wishes to increase the number of good men, the other of substantial and sound minded citizens. But men cannot be made religious by Act of Parliament, and the political and social reformers must seek secular means to this end. Much has been done to raise the working class in respectability and general position by the teetotal movement, which, however, fails to supply the reformed drunkard with interests and pursuits which might act positively upon his character and prosperity. A compulsory Maine law, such as is now advocated, would not only be at variance with our national principles of liberty, but would ne- glect the fact that corrupt tastes, deprived of one means of indulgence, are not extinguished, but will show their tendency to evil in other directions. To make the working man an economist—thrifty in the management of his income so that it shall supply his needs—is the object. It is not sought to raise him into a higher and different class of life. Men of talent, who are born below their real position, are sure, like Franklin, Stephenson and others, to rise to their true level. The position of the working-man is as respectable, in the true sense of the word, as any other, but he does need assistance to render himself comfortable and well-to-do in his own sphere. To effect this object, a two-fold influence must be brought to bear upon the working man, inducing on the one hand the desire of thrift, and supplying on the other the opportunity for a proper disposal of his money. I would now especially, by your permission, pass from the general question of the best mode of spending his whole receipts to consider how the working man may dispose of his surplus income advantageously. The Savings Banks have become a very important institution of the country, and done much to make the economical labourer a petty capitalist, prepared for sickness, old age, or the purchase of a cottage or a garden. Supplemented by penny banks, provident societies, sunday school saving and clothing funds, which collect the smallest sums, even from door to door, the opportunity for saving is extensively afforded, though still capable of wider ramification and in- crease. The Freehold Land Societies, established for a political object, have done more good in another direction, in which the Building Societies also are working. The English desire to be a landholder, and to live in one's own house, has induced many to save, and, by giving them land to cultivate, has drawn the drunkard from the beer-shop, and provided wholesome food for the family. Gardening is eminently a natural and healthy pursuit, one by means of which the philanthropist institutes flower shows for cottage gardeners, and encouraging in other ways, may do much to increase sound- ness of mind and body among working men. There is, however, one and, I think, a most important point in connection with this subject, to which I would, in conclusion, advert—viz. the proper management of sick and burial and friendly societies. To these the work- ing man naturally resorts. They are held among his associates, managed by those of his own class, promise aid in the hour of sickness and old age, and hold out the hope that, with his wages in time of health and this assist- ance in time of need and when he can no longer work, he shall never be in want. These therefore afford, I believe, the most popular investment for the savings of the working man. They are recognized by Government, and an officer appointed to certify the stability and correct calculation of their scheme. But this certificate is not necessary to the existence of such societies, many of which fall under the management of unskilled and some- times unprincipled men. It too often results that just when an industrious and steady man seeks aid from a club to which he has subscribed for years, it cannot help him ; the funds or the treasurer have disappeared, or the bank cannot meet the claims upon it. I recollect a lamentable instance in the case of an old man, who was disabled from work by an accident, and in consequence of the insolvency of a club to which he had sub- scribed for years, was compelled to take refuge in the workhouse. A friendly society frequently begins, I have been told, with a number of young men as members, and continues prosperous for many years. One or two sick and aged members at last become chargeable, and others are expected to be so shortly. The society meets, dissolves itself, divides the funds in hand among the members, and then reorganizes itself, but includes only the healthy and young lives. Their calculations had been wrongly made, or in all probability, this covert dishonesty would not take place. This difficulty, a wide-spread one I believe—destroys the confidence of the work- ing man, and tends to make him careless of laying by what he may ulti- mately lose; and the resulting evil is one to which I think public attention requires to he directed, that a remedy may be applied. It might be too sweeping a measure to make these societies illegal if not properly certified, but at any rate it is well worthy the attention of the philanthropist. Such societies may be so established and managed that the assistance they offer is certain, and working men will not refuse the judicious aid of those not in their own sphere in life, who will undertake their management, and give the sanction of their own practical knowledge of money-matters to the cal- culation on which assistance is offered. In conclusion, allow me to repeat my belief that a substantial and thrifty working-class are almost necessary for the continued welfare of our country, especially if the franchise is to be placed in their hands.
I am, Sir, your obedient servant, A. W. W.
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