The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-07-10
EIo,ees for Workingmen.

There never was period in the history OIL
the city when capital was more needed than
at present; not for the purposes OF blind
speculation, but to further schemes OF active
industry which would, in few years, add
largely to the wealth of our city and to the
prosperity OF all classes Of citizens. Every
industrious workingman sighs for home
not the hired tenement, out OF which he
may be turned at the caprice OF his land
lord, but home OF his own, which he may
improve year by year, and leave as shelter
to his little ones 30 that they may have
heritage among their people.
Nc system can bring greater strength to
country than that which provides homes Tor
the laboring classes. Philanthrophic men in
all civilized countries have proclaimed this,
and have endeavored to ameliorate the con-
dition OF those who are spoken OF as the
ssbone aud snew" OF the land. The poor
man must have home, but how is he to
obtain one in section where capital COM
mands high rates OF interest and finds so
much employment in commerce tFat IN
practice, none can be had for plain bricks.and
mortar? We sag h'' tie auorking classes
must do for Themselves ..hat Others cannot,
on. auiN not, do for them. Every moment is
precious. The workiugmen need homes,
Their own savings must furnish the capital.
They must be their own bankers and draw
their own dividends.
A scheme is proposed by one OF the. most
intelligent mechanics in Charleston which
will not satisfy everybody, but will be found
to suit many. 1t is the formation OF CO.
operative home-proviaing association; an
institution intended to meet the emergency,
and which shall continue in force no longer
than the period necessary for providing
each member with a substantial home. Its
scheme is, that one hundred men shall firm
" bind themselves together to assist each
other in providing one hundred ahouses-one
for each member of the association. This
can be accomplished in sepensy-t,oo months,
or six gears, by the. following plan:
l. Each member will pay monthly con-
tribution to the general fund OF $40. Thus
the first monthly payment from oil the men,
bers Of the association will be $1,000. This
will be assigned TO one OF the members;
either by lot or otherwise as may be deter
mined.
2. The member receiving the $1,000 is re-
quired to buy house for $1,000 cash, and to
pay to the association $40 per month rent
for the same, securing the association by
mortgage OF his premises. The emember will
continue to pay his $40 contribution to the
general fund, as we'll as his rent, which will
amount in all to $40 per month; very little,
il any, more than the present rent OF
house which would bring $1,000 cash.
3. One member will thus obtain a home
each month, which home will produce its
rent from the time OF purchase. The rents
will accumulate in the treasury OF the asso-
citation, and at the end OF sixteen months
the rents accumulated will be sufficient to
purchase seventeenth house, in addition to
the house bought each month with the
monthly instalments OF $40.
4. The monthly contributions and rents
will accumulate 80 fast that at the end OF
seventy-two months, or six years, each men,
ber will have received house and there
will have been something like $4,000 over to
meet such incidental expenses ls the asso-
citation might he called upon to meet. This
excludes the receipts from interest on the
funds OF the association.
S. Each member will be expected to pay
the taxes upon his house and keep it insured
as protection to the association.
It may be said that this arrangement
would not answer, because some members
would not obtain houses for several years;
but this is really, in one sense, no disadVan-
taee The first man who receives house
will have seventy-one months rent to pay
in addition to seventy-two months contri-
buttons, which will amount to Sl43O; not
more than is demanded for like house
where payment OF one-third cash is to be
made by the purchaser. The member who
eets the last house will have only paid IN
his seventy-two contributions OF $40, amount
inc to s72O, and will have received $1,000, a