The sun., 1869-07-27
MoyEnENTs IN TIE
OLD WORLD.
Ce-epe sstive Banking In Germany The
Bank Of Constance.

working people, that cannot refrain RON present.
Ing 10 them the German PLAZA that Is here every
day growing into greater popularity and esteem
The corporations OF Stuttgart and Ulm are adnira-
BILE indeed, yet prefer TO describe that oi constance
the beautiful city OF B.den which lies so costly on
the banks OF the Boden See. Tie principal Associa-
ton here is the vorscheuss veein, or the great Co.
operative Bank, which is the largest in Baden and
one ofthc finest In Germany. This strictly co0pera-
tive society was established In 1868, aud has now no
less than 800 members and Is doing telling busi-
ness OF 100000 1orus year. Like al the othcr
workingmens banks, II Is conducted upon the pan
Of schutze Dieltsch who In popularity Is second to
none but Bismark In this part Of Europe. There
are two objects be attained by them First to IN
duce people to save their spare earnings. The
method Is so clear and simple that even the duIcst
persons are able to through the system and are
drawn into It as by an Irresistible Influence. lho
next object s TO establish worknemcn In somo inde
pendent business with the money they have saved.
Thus, II a mhchlnst, for example, wants home Of
his own 40 to avoid paying rents he may ioin the
Cooperative Bank by paying down tho sum Of s30
10 $50. and atorward a weekly contribution Of nny
cents, and become a regular cop1rtner In tue bank
Ing business, with voice and vote, and II he
should prove himself better nnancier than ma
chnist, he stands good chance A anybody to
become the President or cashier.
We viii suppose his ambition Il fixed upon ahomo
and miniature ndenendcncy, which. thourh small,
Is 20 oren impossible 10 get without help lie knows
Of a lot Of land within walking distance OF his bust
ness which nc might purchase for t'J1, upon which
might be built. for ;s1O, house large enough Tor
two families like his own. lie might have had lis
eye on such treasure and have dug and delvci a
dozen years before fricnd would furnish him
sufficient bonus which. with his own scrapings,
would make mp the 1880 although he Ohe friend
knew the extra rent Of the premises, whom finished
would help to indemnify lhm. The Gr-t friend mat
offers to advance this money is the Cooperative
Bank. The bank not only offers him the money,
payable at any time, but also acts ts officers to work
to that the choice of land Is good that the titles
arc unelouded and that the buildings substantial
If, In case Of sickness want Of cmploy oymcnt the
member should not be able TO pay his weekly install
ments, the bank has article which excuses him
II the member loses bia place. the bank helps him TO
another. II he gets hurt, It furnishes him friends
IL he dies, It that the proper person becomes
his successor and exercises utmost forbearancc
before closing tho mortgage, so that neither the
property nor tho family may suffer The bank does
All this, not through charity or ostentltous compas.
sion, hut because this Is what It was male for II
does II because ifit did not do IT, II would be grossly
neglcctnz It's business German cooperation Is bolh
independent and mutuql, AMI Is en- lloyed in tle
place Of ordinary banks by not only the working
poor maB su, aso by many Of th, small proprictois
Thus the bank Of Constance. which commenced Eve
years ago with few guildcrs. has grown and pros
pcrcd, until II Ia now one of the largest business
concerns In the Grand Duchy of Baden, and Will
very soon number It's 1000 members. It Is sad to
be the SAT st aud souniest banking house In south
western Germany. There arc no rich capitalists to
nonopolizc It. Every officer Is elected by the mem
bers from among the members l. h. prove TO be
properly qualified, he can be reelected. II he be
the object Of the slightest suspicion, the members
know how on election day to vote for another. rhe
cashier is responsible for any amount that can come
through his hands. Tue bank Is regularly chartered
aud all transactions subject to It's mana cement are
performed under the rigid discipline Of law like any
other banking house In order to furnish loans to
| any and all members who may apply for sums ~
establish them IN business, the bank borrows money
| Of capitalists In larrc sums at about per cent
| which Is loaned In smaller sums to u, members at
per ccut., while all deposits Of the mcmbers spare
| earnings are allowed ~ per cent or
Just enough lees than the loans to main.
| tain the working expenses. These working
| expenses diminish In proportion the
business Of the bank enargcs. was assured by the
cashier OF the Cooperative Bank OF Constance Herr
schrmeiser that tho working expenses did not
reach y per cent, owing TO the exact system and
| the largo amount or business trransacte1 The
great safety and durability Of these co6pcrations IL
attributable to two causes. First the honorable
basis upon which they orc founded and second.
the science and eGactltude to whica the manage
mcnt Of their affairs, small and great alike has been
reduced. They accumulate in wealth, not by the en-.
l1rgomont OF the sums possessed bY individual mem
bcrs, but 10y tho numerical increase Of members
The grand object Is to got members. that is to siy
borrowers; because every additional member swclIs
the permanent business OF the bank and reduces IL.
expenses Mt determined ratio, Now the solid and
fundamental object not to mako money. The
bank itself has no nvarcc and does not desire 20 ne
cnmuate cent above the safety line It Is jus
here 10 the matter OF lnordlnatc quantities that The
German cooperative bank system differs from indi
vidnAl and rp'no"-v N"r'.r 'r...-e-~. --
1he .o7ner . q.
g. m'or. .-gi.. .r'u ,.,.... ... ,.u,. j..
60 t.-. H'. ''' s .o r,..
MI %. .n....
t...H. .n....
vested, and 0yc years erprrcuc, has proved h.
soundncss The ha k mas become an honor,d ingtt
tuition, Is truk oi with much respect. and IN very
succc --inl N inducing Icor pcu1lc to snve uieil