Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-08-24
Protective Associations; What
Are They?
NAshv lie American.


The unprecedented growth Of en-
dowuAsut associations in this section
is one OF the remarkable signs, il
may be cal ed, of the times. They
are taking every possible shape and
invading every form OF society. The
movement means something more 'gu
a speculative spirit, for men of sp, Gu
lative turn OF mind have become
Interested in them. Those already
established are apparently in a tbriv-
ing condition, and the present large
list is being added to week from week.
The fever has spread throughout the
State. Over one hundred associat IS
have been chartered during the s.
few months, virtually, uuder the salL
impulse, but differing in name, al1
prospectus. Matrimonial project We
companies began what eodowme
associations have carried forward lot
divergent fields of promise. Building
associations have followed these wioh.
the vigorous determiDaioa born OF
strong expectations OF success. This
part of the country has of a sudden
leagued itself for mutual protect 90
against evils to come, until if half the
good is accomplished which this mul
titude OF protective ORGANIZATIONS
promise Il cir clientele and the country
we shall presently be elevated consid-
erably above other parts of the country
in prosperity and happiness. II is
true our capacity tor mutual protec-
ton is, lie other material things,
limited within easily ascerIained
bounds, but our expansive confidence
10 each other overrides this considers
tion, aud is daunted at the growing
multiplicity of these drafts upon it.
Hardly is it to be expected that With
the certainty Of being first married.
and the assurance of being the first
to realize the benefits of endowment
assessments not depending upon
marriage, or the expectation that
the first house will be built for
you, any policy holder shall stop .
think that he may possibly be anon
those who must assist TO make up,
and not draw upon these assessments;
neither is any game of chance ex.
pected to go against a men, though it
does sometim IS. Moralizing is irrel
evant; suggestions to be cautious are
out Of order; the idea is already
strongly implanted, ana has GROVE
from some source with life giving
properties, and now-what is it2 The
cost of these enterprises to the indi-
vidual is insignificant in contrast to
the promised benefits. This appeals
to the gambling ~propensities in men;
the desire to get a great deal for very
little attracts the innate selfshness OF
men; novelty lends its persuasive
power, and with this the explanation
will be thought to have been found.
But there is a reason beyond all tbesH
and one which is their very foundati, )
and present nourishment-the general
thrift of the community. This idea
was introduced hero by men whose
keen, quiet observation led them to
present a means of investment for the
many $40 or $50 that have been laid
by of late. 1t was a bold and timely
stroke, and one which, if it were pos
sible to restrain within reasonable
limits, might be an advantage to small
savers. That it has in this short Pc
Rod burst the bonds of prudence and
invaded the field of transitional specu-
%lation, is an assurance that all but the
few conservatively managed will shsrt-
ly 60 the way of everything specula-
tive and sensational. The one thing
that most impresses itself upon our at
tention is the evidence it affords tLat
these small sums exist, and are beat
ing about for something in which they
may be advantageOusly invested. This
leads US again to the necessity for
providing some legitimate depository
for small savings in this community.