Investing · Entrepreneur memoirs

Samuel Smiles:Thrift, Excerpt 247

Samuel Smiles《Thrift》· Thrift · Investing

The Friendly or Benefit Societies of the working classes are also Co-operative Societies under another form. They cultivate the habit of prudent self-reliance amongst the people, and are consequently worthy of every encouragement. It is certainly a striking fact that some four millions of working men should have organized themselves into voluntary associations for the purpose of mutual support in time of sickness and distress. These societies are the outgrowth in a great measure of the English love of self-government and social independence,--in illustration of which it maybe stated, that whereas in France only one person in seventy-six is found belonging to a benefit society, and in Belgium one in sixty-four, the proportion in England is found to be one in nine. The English societies are said to have in hand funds amounting to more than eleven millions sterling; and they distribute relief amongst their members, provided by voluntary contributions out of their weekly earnings, amounting to above two millions yearly.

Source: https://www.gutenberg.org/ebooks/14418
Locator:Excerpt 247 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

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