The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-08-09
MUTUAL BsSEFIr STORES.

Inc rules OF Cooperative Societies in England
arc simple and fow; tho results have exceeded tho
| expectations OF tho most sanguinc. Goods nro
Kept on aao For tho public. Tho payment of few
| pence IL tho condition of membership. Further
payments about ten ponce n month, until their
| aggregate, together with the interest and diyi-
uentls placed TO his credit, amount to tho pre-
scribcd minimum share In tho undertaking, which
varies in different places from ono pound sterling
| to live pounds. Each member has tho privilege Of
| letting his sharo increase TO flGO; although tho
/ Society can make tho amount smaller After prc-
fious notice, each member can obtain tho payment
| ol dis Barc, over and above tho minimum share
inter- an utcrrnl, varying according to tho amount
| NO member, however, can withdraw this minimum
| share whom hc rcsigns. Will, tho approval of tho
Society, he may hare it transferred To the credit
| OF another, who thus becomes himself member.
In other words, ho sell out but tho existence
OF tho society cannot bo threatened, or its credit
| seriously affected, by tho withdrawal of capital
stock below certain minimum standard
Tho net profits arc distributed auartorlv. After
| iire per cent. per anuum las been deducted from
| tho silarc OF tho members, and two and half per
cont. of tho profit have bcon applied to tho .tedl,
cational fund; the balance ia placed TO tho credit
OF the members, i'll proportion 10 tho purchases
that oach has made Mt tho storo during tho throo
months. The members arc liable to no losses be
yond tho depreciation Of their respective shares
There IL monthly meeting, at which an Exccu-
| two Committee Of twelve is elected to manage tho
| business OF tho Society for ono year. hB tho
Society at Iuchdale tho first of Co-oporatiYo
Societies. mud has been tho most successful, it iy
worth while to consider tho principles that ruled
| i'll tho management of tho Rocdalo Pioneers.
Ono of these was frugality. They valued penny
nt its full worth. Thcy wore not above saving that
|fNnflx
ing ''pound- d-foolsh." Thoy know TINT many n
micklo makes q muckle; that pounds grow from
ponce BY close economy thoir savings nccumu-
lated, and with these they est abishcd business
Of thcir OWL; which required tho exercise of their
own judgment, md tho management of which
gave thom m acquaintance with tho detnls OF
business, which valuable rs the nctual gain
III money. Tho profit was in proportion to tho
diligence they displayed in their enterprise aud
they wcro Certain to receive in goods the equra.
| lent of thor cost in money. Thcy wore not 30
| sliort-sighted as to adopt lower scale of prices
than ordinary shop-koopers; but paying tho cur
ront prices, they received at tho cnd OF the quar-
ter their share OF tho gauH in proportion to their
purchases. 1t to their advantage 10 lot thcso
premiums remain in tho business; for by so doing
| they abridged their consumption in order to in
| croaso their cash deposits, and increased their
|
| The profits arising from that system nro shown
| by tho account Of iuborer on tho records OF tho
Rochdalo Society. Hitaom paying out dJdr1hing
beyond Me first shilling, he realized in ten years
s4TT so tnot including fG drawn out) by making
| his purchases at tho storcs of tho Association.
Anothci feature in these Mutual Associations is
their far dealing. That thoy woro able success
fully to compete with tho established shopkecpcrs
OF Rochdalc, whom their stock was small and Of
| Indifferent Materials was owing mainly 10 their
| unvarying honesty. Their own interest, both "a
! buyer aud seller, secured ihom against unfair
dealing
Aware OF the OWLS Of keeping credit accounts,
| which those who work for fixed wages arc peculi-
arly exposed TO, the Society was formed and coll
dncted OIL tho basis Of cash payments. That sys-
tom confines tho purchasers to such things as
| they really nccd and enables the society to buy
goods to tho greatest advantage aud to adhere to
l. H~nI a.i,-lr,la rf r,rinas
Wo cannot do moro hero than glnnco at the
| topics treltcd i'll tho remaining chapters of this
| book Oh cooperative Stores"
Tho following aro somo of these: Directions for
establishing cooperative store; tho formation Of
rules; instructions concerning the different kinds
of business, and their peculiartics; the uccumuln-
| tun of capital; tho purchase and salo of goods;
| rules for the kocping of goods, and general hints
| for tho management OF business.
Wherever cooperative stores have been cstab-
iishcd and conducted Oh tho plan pursued by tho
| Rochdalc Pioneers, they have been successful
Similar societies hayo resulted in fniluro but that
has been owing to unwisc changes from the Rocll-
dale model or to the incompetency or dishonesty
OF officers and agents. Tho principal cnuse, how
ever, of tho downfall OF unfortunate societies hos
bccn the credit system. Cash payment is indis-
ponsube to success. II is tho life of tho institu-
ton. Thcro must be no cxccptior.s made. That
rule must mover be violated. No ono, undor any
circumstances must BE- indulged with credit for
oven tho smallest sum, for il Indulgence DO once
granted, no limit can DO put to tho croditing.
Wo wonld earnestly comnend this SYSTEM It
il peculiarly adapted to our present circumstance
Wo aro oil poor. Mono of have moro than is suf-
flcent for more comfort. Wo are, therefore, under
tho necessity of practicing tho closest economy.
This is favorable timo for learning frugality. As
we are obliged to confno ourselves to tho necos-
sarcs OF liro, by the help OF such institutions we
mny bo nssured we get tho valno OF our money;
at the samo time lay by ponny for rainy day.
Wo hopo somo Of our clear-hoadcd business
men, who hayo tho public veal at heart, will con-
| slider this mattor worthy thor attention, and pro-
coed to tako measures for tho establishment Of
cooperative stores among uH.