Miscellaneous. 



110 



[Feb, 1907. 



This form of co-operation has found expression in the several countries of 

 Europe in credit societies and people's banks, extending to the number of several 

 hundred and even thousands. In France Les Banques Populaires and Les Caisses 

 Rurales, as they are called, number over 2,000. In Germauy they are 12,000 and more, 

 co-operative credit societies and loan banks. In Italy the Banche Popolare (Banques 

 Populaires), the Casse Rurale (Caisses Rurales) and the " Catholic " banks, number 

 over 2,500 ; in Belgium over 300 ; and in Austria nearly 5,000. In Russia the number 

 of similar institutions is over 5,500. In England the people's banks and co-operative 

 credit societies are also numerous and have been increasing yearly in number. 



All these institutions have this in common ; they aim through the encourage- 

 ment of thrift to create a capital out of the savings of persons of very limited means, 

 which capital may be profitably invested and opportunity thereby afforded such 

 persons of securing advances and loans at reasonable rates, where otherwise loans 

 might be obtainable only at usurious rates, or not obtainable at all. 



Origin of the Levis Society. 



Mr. Desjardius undertook, in 1900, to establish among the people of his own 

 locality a co-operative savings and credit society, or people's bank. In September 

 of that year he brought together at his residence a dozen of his fellow-townsmen 

 whom he had interested in the project, and carefully outlined his plan. During the 

 course of the following three months they drafted a constitution, subscribed a 

 n mnber of shares at $5 a share, which were subsequently paid in instalments, and 

 established what they designed as " La Caisse populaire de Levis "—a co-operative 

 savings and credit association, with a variable capital and limited liability. As 

 members of this co-operative society they had henceforth the right to share in the 

 direction of its affairs, participate in its profits, and on complying with its require- 

 ments to obtain credit in limited amounts. 



On December 6, 1900, the number of shareholders of La Caisse Populaire de 

 Levis was 100, 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 number of shareholders more than doubled. By Decern, 

 ber, 1902, the number was 450. At the begining of the present year (January, 1905) 

 the list of shareholders included over 900 names, representing over 5,500 shares. 



Objects op 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, moral, 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 Lewis." 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 particular, by instilling and developing in them the taste for and the constant 

 and energetic practise of economy even on the most modest scale ; 



