The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1867-09-30
CO-OPERATIvE BUILDING As.
8OCIATION.

On the first page Of to-day's issue will be
found the constitution Of the Metropoli-
tan Police Cooperative Union. This
Union is formed upon the cooperative
plan, which has been so successful in Eng
land, and which has met with great favor
in New York.
The committee Of the Metropolitan
Police, appointed at q previous meeting,
and charged with the duty, have carefully
examined most OF the schemes now in
Washington and vicinity. They have been
unable to give their approval to any one
of them. They are believed to be pecu-
liarly harsh upon the borrower, which in
turn operates, Of course, to the greater
benefit and advantage Of tie lender; and
such are those who bid high or buy out in
associations generally, while those who
purchase no favors become the real lenders
and receive the greater benefits. By all
those plans values are forced to accumu-
late rapidly-too rapidly to be real ben.
eft to all the stockholders.
Endeavoring to profit by the plans Of
the various building associations and the
cooperative principle adopted in New
York, and aided still more by an examine
ton Of the scheme Of the new cooperative
association here, the committee have pre-
sented q plan which they believe to be
far superior to any yet named or known
to be in operation in this vicinity. 1t not
only provides good investment for money,
but in its operation and without either the
risks or hardsbips attending the workings
Of the old plans, provides easy and safe
means for the acquisition Of q property or
home.
The proposition requires longer time,
but is attended with so many apparent
beneficial results as to appeal to the good
sense and humanity Of man.
1t supposes shares Of 81 900 each, for
which is paid given sum per month. The
moneys arising from such payments be-
ing loaned at q premium Of ten per cent,
also payable monthly, places the COM
pounding principle into immediate full
operation. A detailed calculation for
monthly payments Of $3.50 per share LIS
found to produce by this mode Of acre.
ton alone, 81 ,005.78 in fourteen years and
eight months. Then, at 90 per share, it
must accumulate to the same amount in
seven years and four months. Or, If in
termediate rates per share be adopted,
then proportionate length Of time will
elapse in which to realize the capital stock.
But the system Of fines and forfeitures
adopted by all associations, and believed
to be necessary to the success Of any plan
must largely increase the accretion, ant
to corresponding extent lessen the time
For example, take the sum Of 5000 q
loan. At six per cent. it costs $3.50 pc
annum, or for fourteen years and eigh
months 81, $40, equal repayment Of tn
principal to $3.50.
Then take loan for the same sun
$4,000 upon this plan, and it will cost 70
premium $25 per month, and for MONTH
subscription $3.50 or $3.50 per mont
This rate amounts in the aggregate in !
years and months to $500, or only a
aggregate excess Of its cost at simple il
terest Of $50, paid in an easy mode.
Then, again, take the case Of stool
holder who does not borrow. he pay
monthly $3.50, or $50 per annum, whic
in IA years and months amounts to S44t
He then gets therefor 81 ,Oo5.7s; profit
BILE investment for the money.
But, as q further example, take tn
man who is obliged to rent house.
moderate rent for any house Of comforts
BILE proportions is not less than $50 to 80
per month. Assume the least, and $40 pc
month or S240 per annum is paid to
landlord, which upon this system woul
be put permanently into the pockets Q
the renter. The cost Of loan Of 1900
which in most cases will purchase bette
house and lot than could ,oe rented for 90
per month, will be for two shares Of sui
scription, S. per month and ten per CEN
premium, payable monthly, S16.66t, o
S2l.665, just Sl.66S a month more tha
he will otherwise pay for accommodation
and have nothing in the end.