New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-05-25

1900 90 10000 90 So LOU W soocS W
% si4 90 is9Os ai AZ 4l5o 90 63,ilO 90
y 22ls 90 4o,l25 90 IS 1000 90 Jt5iI 90
30 276s 50 35,634 60 50 1910 % 9Slio II
These statistics can be multiplied to any extent.
Where is the small or the wholesale trader who can
show results SIMILAR to these Here are facts enough
10 demonstrate the power of the Protective Union sys-
tenn and also that there is thousand times more caPi-
raj invested in trade than is needed We have thus far
been able to note only the RISE progress and general
success of this movement IL now remains 70 speak as
briefly as possible of the obstacles and dscouragement
which il has encountered and which still hinder it's do
velopment The first and most serious obstacle to sue
cess was loose and awkward organization
Instead of forminda thorough, compact and effective
svten for the purpose of trade and exchange only the
oreinators of the Union incorporated in their plan che
BENEFIT feature Of the Odd Fellows Societies. They did
not at the outset conceive the significance, comprc
bend the principles consequences of the work they
had begun The Benefit Fund they regarded as most
indispensable feature of the scheme and they even pro-
yided that the entire capital OF Division might be drawn
out TO pay sick btnefcsres Indeed several Divisions
were broken up in that way. This was great defect
and is now mostly discontinued.
second defect u.s. that the Divisions have cOrpor
ate existence or FORM but merely voluntary assOcla
tons dssoyable at the will of any member, at least, so
far as he and his investment sconcerned Whenever
auember quits DIVISION he takes out whatever money he
NAV have put in Thus the capital of Divisions is liable
10 continual uctuaon and disturbance. There is prob
ably not Division which has not had less
barrassment from this The basis should have
been Joint stock represented BY certificates of stock
transferable but not liable to be drawn out to the detri
ment Of the Union.
third defect u.s. that the organization has no system
of checks against fraud. dishonest agent may appro
pirate the entire capital of Division to his private
use. Or the General Agent may do the same, and yet
not be punishable by law. He would only commit
breach Of trust. II is true Division may require
bonds of its Committee Of Trade, but from the fact
that the Union Is but multtudinOus cOpartnershp,
such bonds have no worth. SO, too, the General Agent
of the Central Division might be required to give
bonds and ought to do So but TO make bond of any
effect in bis case would be thousand times diff
cult than in the case Of the Agent Of Division. But
the fact is NO bonds are exacted effective part Of
the scheme. Hence not only has fraud been committed
| but suspicious are awakened when there is just
/ ground therefor.
fourth and il nay almost be said fatal defect in
the organization ia the overwhelming amount OF noisy
intriguing and crude and unnecessary dputaton which
il allows Of The Central Division is composed of dele
gates from the several divisions They together
four times year, in legislative capacity. Gathered
prorniseuOUsly from all parts Of the country, and
with very limited experience in mercantile matters t
must be said that their deliberations do not con-
tribute largely TO benefit the Institution In
fact, with limited knowledge Of markets, mer-
chants and general intelligence In relation trade they
are not always qualified decide whether the affairs Of
the General Agency well managed not so that
when any charge Of ncompetency is brought instead of
settling il at by appeal to invoice books egers
ard accounts, loose rein is given to miscellaneous and
partisan elamor. Unluckiy, the system provides no
check or antdote to this talking and legislative mania
1t precisely here that the most injury has resulted
TO the movement. For years there have been COM
plants from many Divisions of the Union of incompe.
ency on the part Of the General Agent at Boston and
the only effect thus far has been to nfame useless pas
sOns and ALLEVIATE Divisions from the Central Agency
Though there are more than 400 Divisions only about
one-third of that number buy through the General
Agent With all these defects of method the narrow
jealousies and party spirit which have marked the his
tory Of this movement it is indeed astonishing that It
should have achieved so great degree of success.
All these defects may and should be remedied not
only in the Of the Protective UniOp q New Eng
land Eve glad learn that wise changes pro-
gress there but in the formation Of that which We pre-
sumo viii be brought into existence at Bsllston In
this State the General Manufacturing Law viii prob
ably afford the meansof true cooperate organization
and Of guaranteeing the Association against unfaithul
ness the part Of its agents. Aside from that all
that needed is that ts affairs should be arranged and
managed On strict mercantile principles Discussing
the moral and philosophical pOincples of the Universe
is good in it's place, but has nothing to do with direct
exchanges between producers and the application to
trade Of the associative economy
MnsI:sPrL-CsPt VIM. Barksdale, of the ID Missis.