The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-08-18
How 10 Earn u Home.

New Otk llMe4
AT the risk. Of piling cline upon line
and precept upon precept," We call the at
tention again OF the leaders OF our work.
ins classes 10 what has been done in Phil.
adelphia toward providing separate
homes for mechanics and laborers and
persons OF small means, and what has pot
been done in New York. We have re-
ceiyed another circular from one Of the
many building associations OF our sister
city, entitled 1.-THE Third Annual Report
Of No. 9 Artisans Building and Loan AS
ISOLATION" We know nothing about it,
except from its printed abstract Of &C.
counts; but these are sufficiently remark
able 10 call for public comment. The
prospectus sums upit objects as follows,
10 language whose English may be par;
,onel for The sake Of the facts conveyed:
"Your board are doing their utmost 10
induce the members to borrow and pur.
chase their own homes; they ask you to
assist them, in becoming borrowers your
selves, and persuade others to become
members and borrow. The Legislature
has given us laws that are extremely lib
eral and protective, guaranteeing full
liberty to be your own bankers, without
the many technicalities that surround
other moneyed institutions, that you may
thereby be enabled to procure home,
they knowing that the moral and Roliti-
cal elevation OF the working classes can
he only achieved by the acquisition OF
land and real property, and to facilitate
this acquisition the Legislature and Ju-
dietary departments OF this State and
city have given their undivided support
to the maintenance Of these associations,
and during this Centennial year they will
point with pride to the thousands Of
working mems comfortable homes in this
city, built by their liberal legislation and
wise judicial decisions, thus enabling and
protecting each individual member in
their right 10 help themselves"
The truth is that these building asso-
Citations Of Philadelphia are the working
mems banks, lending and borrowing
money on the security Of real estate,
where each depositor is also manager, and
stimulated TO the highest economy Of
management and the utmost habit OF
saving his own earnings. No device was
ever invented in the history Of the work.
ing classes, at once 80 ingenious and SO
beneficial to their interests. II is far In
advance OF our own savings banks, adj
mirable as these are, for the whole scheme
comes from the working people, is man.
aged by them, and therefore shows an
economy unknown in our banks. 1t is
also on incessant training Of the mem.
bers in all the habits which give business
success-economy, self.control, the habit
OF small saving, and skill in petty in
yestment. Then the plan is based on the
principle OF repeated turning over Of
small capitals, thus securing a much
greater profit than our savings institu-
lions can earn. II is superior 10 the
famous "Delitsch Cooperation Banks" Of
Germany, for the security here Is land
and buildings, and the aim and end DIRE
to obtain for each member cheap and
separate homestead. 1t Ia, fol-, like
reason, more beneficial than The CO.
operative associations Of England for
distribution or production. For the
best economical condition OF working
class is that in which they own their own
homes and are their own landlords, and
for this the building associations OF Phila-
delphia are formed to bring about.
Then the English societies depend for
their success each on two or three indi.
yiduals, whose administrative power
would have earned them large salaries
anywhere, and who, In fact, gave their
services at low rates for the benefit OF
their fellows. Snch conditions cannot be
universal. The Pennsylvania aSsocia.
tions depend on no especial individual
skin, but on what might almost be called
the experience of a profession. Some six
hundred associations have learned the
art OF turning over small capitals pro-
fitably. and have trained their members
to save, and to invest and reinvest their
savings in we'll selected lots Of land and
ANAL houses. Millions Of capital are
thus turned oyerevery year in Penn
syIvania city. The effect Ia seen In q
prosperous and intelligent condition Of
the working classes, such as Is almost
unknown in any other large American
city. The working men own their own
houses. Their families are brought up
separately. There is none or little OF
that degrading and unhealthy tenement
house lie familiar in New York. Over
crowdihp, With its diseases and immorali-
ty, Is Comparatively unknown. The
whole artisan community Is put on 4
higher grade in our sister city. For a
man who own shis house and his land has
a deeper interest in the community than
one who Is always tenant. This may
b considered an axiom Of political
Ii we turn now to the report Of the
building association Of which We have
spoken, we find that it possessesa capt.
tai OF 1867 shares, or sos, l6O, to which il
has increased in three years from 81 ,Il3:
It's receipts during the year from month
ly savings Of working men and from 9TH
er sources Of income were SAG, 1925. II
paid out in loans Of the different series
during the year S1s,25S, and received
hond3 and mOrfpapnA nm real estate