Robinson Crusoe's father : the projector of savings banks / . s and colleges exclusively for girls andyoung women, and every girl in the Girls High School andevery young woman student in Packer, Smith, Vassar andWellesley and Bryn Mawr should pay homage to should, too, for the schools have given us bettermothers; better sisters, better sweethearts and better wives. Defoe also was the first to propose that the bankruptcy lawsbe modified, and now no one anywhere can be thrown intoprison for debt. He was the original good roads man; hedrew up a scheme for the establishment of the first
Robinson Crusoe's father : the projector of savings banks / . s and colleges exclusively for girls andyoung women, and every girl in the Girls High School andevery young woman student in Packer, Smith, Vassar andWellesley and Bryn Mawr should pay homage to should, too, for the schools have given us bettermothers; better sisters, better sweethearts and better wives. Defoe also was the first to propose that the bankruptcy lawsbe modified, and now no one anywhere can be thrown intoprison for debt. He was the original good roads man; hedrew up a scheme for the establishment of the first mutualmarine insurance society, for a friendly society, and what isof especial interest to you, he was the first to suggest theestablishment of a Savings Bank. Defoes Scheme to Banish Pauperism. In 1689, when he was scarcely 28 years old, Defoe drafteda scheme for the establishment of a pension office which, inorganization and purpose, was to be similar to our mutualsavings banks, with this difference, that the pension officewas to be run by the The pension office of Defoe was to be a public benefaction,while our savings banks of to-day are private scheme was to have all the wage-earning citizens of a com-munity to pool a certain amount of their weekly or monthlyearnings and place the pool at the disposal of the latter was to pay interest, and any member of the poolupon proper claim could draw out funds proportionate to hisdeposits whenever he needed to tide over an emergency. Thus,if he fell sick, or became disabled in the pursuit of his calling,he could apply for a pension, and when he got old he couldretire from his labors and live on the income from his savings. I desire, said Defoe, in arguing for this scheme, anyman to consider the present state of this Kingdom, and tellme if all the people of England, old and young, rich and poor,were to pay into one common bank four shillings per annuma head, and that four shillings duly and
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Keywords: ., book, bookcentury1900, bookdecade1910, booksubjectbanksandbanking
