The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1886-07-10
GIGANTIC COOPERATION.
The Plan of John Jarrett and Andrew
Carnegie for Benefiting Workmen.

The ran Oh
Carnegie for Benefting Workmen.
John Jarrett, ex-president of the
Amalgamated Association, and Andrew
Carnegie, the iron and steel manufac-
turer, are interested in big scheme for
the benefit of the working classes of this
country. The scheme originated with
Mr.. Jarrett, and he has been assured of
the assistance of Mr., Carnegie. 1t is
not likely, however, that any thing will
be done until fall. The project is CO.
operation on an unusually large scale.
1t is proposed to establish distribution,
productive and credit systems exclu-
sively in the interesv'Of members of or
ganized labor. When the plans are
completed, which will be in the fall, a
large general store and workingman's
savings bank will be established in this
city.
MIR. Jarrett has been at work on the
scheme for several months. Letters eX-
planning its objects were written to diff
ferent assemblies of the Knights of La
Dor and other labor organizations in the
leading cities of the United States.
Favorable answers have been received
to those communications and much ia
terest is being taken in the movement.
The full details of the enterprise could
not be learned, as Mr.. Jarrett could not
be seen. Several men who propose TAX
ing stock explained the scheme as fol
lows:
"No one but workingmen Or mem-
bers oflabor organizations will be per-
| mitted to take Stock and no man can
hold more than two hundred dollars
worth. If a man desires to 90 into the
company and has not the amount in
money required, he can deposit a por-
ton of his earnings in the bank. On
these deposits he will receive eight per
cent interest Bankers say that money
is going begging at five per cent, and
| can not understand how they can af-
ford to pay more than that amount.
OF course, Mr.. Jarrett and Mr.. Car
negie would not 90 into thing of this
kind blindlv, and believe they will be
able to keep their part of the agree
ment. When a sufficient fund has been
.. secured to start the bank and store they
will be established in this city. A cen.
, trail and convenient location will be Sc.
, cured. Every thing that is used by 6
worklngman and his family will be
kept in the store. Prices will be lower
than at other stores, but there will be 6
profit for the stockholders, and divi
4 dends will be paid every six months o.
4 deposited to the credit of the stock
holders in the bank. A number of de
livery wagons will be sent all over the
: cities daily for the purpose of receiving
f and delivering orders. These store
n will be established in all the leadin;
e cities of the country as soon as possible
b After this scheme has been tested, build
= ing and loan associations will be organ
It lied, the main object being to ereC
l homes for the members.
1t 'In time there will spring out of tn
n movement cooperative rolling-milll
lie steel mills, foundries, factories and m;
n chine shops. Workingmen will 500
ID become interestedin the movement an
l instead of spending money in saloOE
s for pleasure, will deposit all they ca
lr spare in the bank. With men like A.
N drew Carnegie and John Jarret behiT
a the scheme, there is hardly any post
Il bility of failure.-Pittsburgh DiSpdtc