The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-03-09
Cooperative and Building Associ-
atoms.


The Massachusetts legislature has before
it for consideration the subject OF general
Law authorizing cooperative loan and
building associations. At hearing before
the Joint special committee on labor, Josiah
Quincy, introduced his remarks by the fol-
lowing interesting statement, which is wor-
tby the thoughtful consideration of the
people of all large communities
Hon. Benjamin Harris Brewster, at the
laying of the corner stone of the new pub
lie buildings in Philadelphia on the Fourth
of July last, uses the following language :
81 have seen and lived in almost all of the
capitals of Europe, and have read of all
the great cities of the world, but / have
never seen or read of such city as this.
There is sno town in the world, of its di-
mansions and population, and there never
has been one, that possesses such accom-
mediation for its people. Artisans, and
even laborers, live with us as they never
lived before. Men whose daily earnings in
other cities will hardly sustain life and pro-
| vide shelter for themselves and their fam
| lilies, except in the most rude. coarse, scan
| ty way, are here the occupants of single
and comfortable dwellings, and thousands
| of them owners of their own houses.
We have no such class here as the poor
working man ; our city is filled with work
men independent, prosperous freemen, who
bring up families of boys with habits OF
thrift and industry to 60 out into life pre-
| pared and resolved to earn homes,
because they have enjoyed them
in their happy childhood and with good
| girls, who are certain of provision for
| life, with a comfortable house for their
families, because they are trained to keep
| those homes with tidiness and economy,
and because they are raised with race oil
men who honor and love their families,
and find their only sense of content in Tie
cultivation of the domestic affections. Thf
is true, every word of it, of Philadelphia
and its workmen. At the beginning of tn.
year 1878 we had 1874 1902 dwelling house
houses occupied by families, exceeding
New York by over 10000 and Boston by
"a, 900.
That Philadelphia had long been callei
"a city of homes" | was aware, but wa
ignorant of the cause that produced so de
srable a name until i learned that Their
were within its limits five hundred cooper
alive loan and building associations. Tha
these associations had capital, secures
| pilucipdliy ny iioitSaSCo oh oii"h houoSp
of between forty and fifty millions of dol
lars That their aggregate monthly re
ceipts amounted to million of dollars
month, and that new associations were con
stantly forming.
In the fifteen savings banks in Bostol
there are deposited, principally by the la
boring classes, about $G5, 900, abou
$50, O00,O of which are invested in mort
cages. OF these not probably more thai
one per cent. is for less amount than So,
000 and thus of no direct advantage in TIN
shape of credit to the laboring classes witt
own the property. The larger amoun
loaned, principally on small houses, by tn,
500 associations in Philadelphia, give, it i
maintained, equal security, larger incom
and independent homes to thousands
} Assuming, Mr.. Chairman, that our labor
ing classes are as intelligent and trust
worthy as those OF Philadelphia, and equal
ly able to manage such associations witt
success, ask that the state of Massachu
: sets would grant to her working men ant
women the same opportunities and facili
ties for obtaining homes that have bee
granted to hers by Pennsylvania.