Yes, and I think you'll find it has far more to do with respecting ones fellow human being. There is very little of that around in western culture.
When I was little I found a watch on the street. My parents said we should take it to the police station. After a month I was told I could have it as nobody had claimed it. The policeman also told me that they auctioned off unclaimed property and gave it to some charity. I went with that option. I'm British, so your statement means nothing to me.