The Opelousas courier., 1888-05-12
What Building Associations are
and How Conducted.

members in the acquisition OF homes,
if desired, or to enable them to accum-
ulate a fund upon which they can draw
in case of necessity. They arc not. as
many of the uninitiated suppose, gotten
up for the express purpose of building
houses--they will not build at ali-but
if a member wishes to build q mouse,
the society, whilst taking no part III
the building, will, upon the membe
giving sufficient security, advance HIM
the money wherewith to build. 1t
matters not whether the money is Dor
rowed to buy u house already built or
to build on unimproved property. In
brief, the purpose is to receive from
each member u sum, weekly, such as
he or she agrees to pay, and at tho c'ld
of each month or regular meeting, to
lend the amounts thus received, to such
members as arc entitled to borrow.
Building associations are mutual CO.
operative societies. If we contemplate
for Il moment the inestimable ben. its
which would flow to society, could all
the members of the human family be i'm
bued with the spirit that pcrvades c"
operative enterprises, we cannot ott
feel lost with establishment that the
principle has not been universally tX-
tended
1t is an u%ndisputed fact that the mo-
raj tone of society is improved Just 10
the extent of the improvement that Is
d taking place in each individual, and
any circumstances that will raise the
moral standard of the individual can
not fail to benefit society, and 1t is just
here that Building Associations are DO
ing the most good.
, Their beneficial effect on the com
, munity ut large cannot be estimated III
! dollars and cents. The system hat en
loulages and fosters the acquisition OF
individual homes, that is fatal to com
t munistic and socialist doctrines, that Is
1 Il steady menace to lawlessness of any
kind, aud is always ready, if necessary,
to defend the just rights Of others, Is
one of the great bulwaiks oi society. ,
! They have contributed iii n" sinai
:, degree to make the mechanics home
c more healthy, CHEEKY, aud the city
5 more prosperous, and have enahled a
t very largo nnmbcr to do what ri then
own individual efforts they would prob
ably never have accomplished.
1t is often said that Savings Bank:
} will accomplish the object of BnlldIns
u Associations, but it is not $50. Their,
- is little OF no simiIe between Saving
3 Banks and Building Associations. Sav
!" wings Banks will receive from time f
" time sucIr small mounts rs may In. dc
posted with them. pay Il small percent
IL age of profits on the amount tina, de
u .Al .f r,,ll .,., .,.,,, i,rt I..
deiivrs up amy portion Required ali
- there their mission ends.
- If We cnmpaie the results of invest
=, ing one dollar ii month lii II Bn.iGin.
~ Association with that OF putting ava.
4 one dollar IL month in :; Savings Banl
paying say three per t$nt, itswill b
= found that at the eud of|tn year:
ii which is the average life OF ii we'll col
Quoted Building Association, 20
would have to your credit. III til
Bailding Society, two hundred dollars
=. or IL gain Of l39 per cent per annum o
!" YOUR investment, whilst in the Saving
g Bank, you would have but $I39.40
less than 81 per cent per annum. III
difference is that ii Building Assocli
v ton pays about four times as much il
terest as a Savings Bank.
Ct For the borrower the transcendai
~; y advantage of these associations is tilt
IA he not only may, but must pay off h
n ~ loan steadily though slowly. Here
h%o the grand distinction Borrow of
III savings bank, and you cannot pay yol
Io loan till it natures. You make no pr
~ partitions; You expect to renew.
all goes we'll, you may, and do rene'
and so it goes on until something lia
* pens and you cannot pay, and they e
ter and foreclose, and you lose yo,
,tr house and home and all you have pal
rly Not SO with these associations. u
nd must pay off II part each and eve
a month"; small part to I've sure. u
ter have been forced to save. The thong
try and necessity are constantly Def"
Id you. Your neighbor may spend
nd earnings freely, in its hundred wa
IN which cut such big holes IN the peck
er- book, but you, yonr wife and childr'
DIST too, are all full of the idea of payi
,rn up the monthly dues, and so you sa
a your money, and in the end go
ab- houses. You pay off your mortgae
t is The borrower of a savings bank do
out not pay off his.
ep- The business is done III open NEE
ere ing, where all the members are W,
Use come, aud ought to come aud see en-
Der other, and consult about common j
are t~erests. The world can show no mo
18th admirable school for men and womt
I'VE to learn the business Which conccI
ley them most deeply. They see, a
'et. consult about, and know, and stu
their own business affairs. A gra
in objection to savings banks is that til
ter admit deposqtors to no share in t
a conduct of affairs and teach them not
ties ing whilst we state emphaticalIy III
ars building associations are a source
wn great and permanent blessings, II
only to those interested in them but
a society in general. Yet it must rema
VI with each individual to determine t
cry himself whether or not he will avi
OoO himself of the advantages they off
ing There are certain things, howev'
re, we can all agree upon, and one of the
to is, that if u man does not own a Ilous
and needs one to live in he must p
Die rent for it. Because if the tenant ev
, thought of evading payment, the Ian
I'll lord has him bound up by payment
rent in advance, and such 81
guards as will render it W
nigh an impossibility for h
:. To do so. Now it must be appare