171 



participate in its profits, and on complying with its requirements 

 to obtain credit in limited amounts. 



On December 6, 1 900, the number of shareholders of La Caisse 

 Populaire de Levis was lOO, and the number of shares subscribed, 

 500. The institution grew steadily in favour and in the confidence 

 of the people on whose behalf it had been established. In a year 

 the nurhber of shareholders more than doubled. By December, 

 1902, the number was 450. At the begmning of the present year 

 (January, 1905) the list of shareholders included over 900 names, 

 representing over 5>500 shares. 



OBJECTS OF THE LEVIS SOCIETY. 



The objects of the savings and credit society are more far- 

 reaching and important than is suggested by the name, though its 

 objects are disclosed in part therein. Broadly speaking, they may 

 be said to be in their nature, moi-al, economic and educational, in 

 that, supreme among its purposes, is the encouragement of thrift 

 and the promotion of honesty and honour , the furtherance of self- 

 reliance and economic independence ; and the fostering of an 

 appreciation of business principles, and a practical knowledge of 

 business relations. In a general way, the society also aims at 

 serving the industrial needs of the community in which it is 

 established, by providing a means to less fortunate members of 

 carrying on work or enterprises which but for its assistance could 

 not be undertaken. 



The several objects are set forth in detail in the constitution of 

 'La Caisse Populaire de Levis.' Stating, precisely and concisely 

 as they do, the objects of this particular and similar institutions, 

 they may be quoted at length. 



The objects of the association are : — 



1. To protect its members against reverses of fortune, the results of enforced 

 idleness, sickness and want, by teaching them the inappreciable benefits of wise 

 providential measures based on mutual assistance and co-operation, and, in parti- 

 cular, by instilling and developing in them the taste for and the constant and 

 energetic practice of economy even on the most modest scale ; 



2. To aid them by a wise aud prudent system of credit in the shape of loans and 

 advances, the proposed employment whereof must be communicated to the associ- 

 ation, be approved by it, and be in accordance with the spirit in which it is 



founded; , ■ 1 >. i 1 



3. To enable persons devoid of fortune but who are industrious, honest and la- 

 borious, to form part of the association by granting them facilities for paying up 

 their shares in the capital stock by means of very small weekly instalments ; 



4. To secure the practice of the Christian and social virtues that mark the good 

 citizen, the honest, laborious and honourable worker, by exacting above all moral 

 warranties of highest order from the shareholders who borrow from the asso- 

 ciation ; • 1 • 



5. To combat usury by means of co-operation and mutual assistance by provi- 

 ding all who are deserving of the same, through thcr fondness for work, their skill 

 and the integrity of their conduct, with the moneys they require for carrying on 

 their business or occupation, aud which they cannot obiaiu from existing financial 

 institutions owing to the insufficiency of the present system ; thereby making 

 them independent of lenders who levy exorbitant commission or interest, or of 

 those who impose too onerous conditions in connection with credit ; 



6. To foster the spirit of enterprise and promote local works, whether of an in- 

 dustrial or agricultural character, by the prudent use of the savings effected within 

 the district covered by the association's operations ; 



