The Opelousas courier., 1888-05-19
what Building Associations are
and How Conducted.

The object of Building Associations
is to encourage habits of economy, In
dustry and frugality to facilitate the
members in the acquisition OF homes,
if desired, or to enable them to accum-
u|ate a fund upon which they can draw
in case of necessity. They are not, as
many of the uninitiated suppose, gotten
I'D for the express purpose of building
houses--they will not build at all-but
if q member wishes to build a house,
the society, whilst taking no part IN
the building, will, upon the member
giving sufficient security, advance him
the money wherewith to build. 1t
matters not whether the money is Dor
rowed to buy IL house already built OF
to build OH 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 the cnd
, of each month or regular meeting, to
lend the amounts thus received, to such
members as arc entitled to borrow.
7 Building associations arc mutual CO.
operative societies. If we contemplate
/ for a moment the inestimable benefits
which would flow to society, coua all
the members of the human family be i'm
bued with the spirit that ~pervades co
operative enterprises, we cannot but
l feel lost with astonishmcnt that the
; principle has not been universally eX-
l tended.
!. 1t is an undisputed fact that the mo-
= raj tone of society is improved just to
the extent of the improvement that is
U 4J:.s ,I,oo II, aonh ipIlS JInHi and
any circumstances that will raise the
> moral standard of the individual can.
u not fail to benefit society, aud 1t is Just
. here that Building Associations al" d"
! ing the most good.
Their beneficial effect on the com
: mlnity at large cannot be estimated i'll
l. dollat1 and cents. The system that en-
courages und fosters the acquisition OF
d individual homes, that is fatal to com
munistic aud socialist doctrines, that Is
IL steady menace to lawlessntss of any
7 kind, and is always ready, if necessary,
to defend the Just rights of others, Is
one of the great bulwafks of society.
J They have contributed Ill no small
degree to make the mechanics home
=, more healthy, CHEEKY, and the city
more prosperous, aud have enabled Il
. very large number to do what OF their
own Individual efforts they would prob
q ably never have accomplished.
1t is often said that Savings Banks
II will accomplish the object of Building
V, Associations, but it is not SO. There
is little OF no siuiIe between Savings
I'd Banks and Building Associations. Saw
wings Banks will receive from time tc
time such small amounts as may be de
posted with them, pay IL small percent
age OF profits on the amount thus de
posted aud will upon proper notice,
deliver up any portion required ant
Y There theil mission ends.
If VIC compare the results Of invest
in ing one dollar IA month in i. Building
Association with that of putting away
one dollar Il month in Il Savings Bank
paying say three per cent, it Will bt
found that ut the ehn of sen years
which is the'average life e a we'll con
lie, Quoted Building Association, yot
would have to your credit III thu
Building Society, wv hundred dollars
or u gain of 49, per cent per amman OIL
your investment, whilst in the Savings
N Bank, you would have but 1894 o
!, less than 81 per cent per amman. Th'
difference is that IL Building Associa
" ton pays about four times as much in
terest as II Savings Bank.
For the borrower the tlanscendan
II advantage of these associations is tina
he not only may, but must pay off hi
is. loan steadily though slowly. Here i
the grand distinction! Borrow of
!. savings bank, and you cannot pay you
loan till it natures. You make nc pre-
parations you expect to renew. |
all goes we'll, you may, and do renew
IA and so it goes on until something hap
pens and you cannot pay, and they en-
ter and f~oreclose, and you lose you
house ard home and all you have paid
ia Not 50 with these associations, Yo
must pay off a part each and ever,
month"; small part to be sure. Yo
have been forced to ave The though
you. Your neighbor may spend hi
earnings freely, in its hundred way
u.s. which cut such big holes in the poke
book, but you, your wife and ehiidre
too, are ali full of the idea of payin
'y' up the monthly dues, and so You, say
your money, and in the end OWL You
o'' houses. You pay off your mortgage
:, The borrower of a savings bank doe
not pay off his.
The business is done in open meet
ing, where all the members are we.
come. and ought to come and see eac
m other. and consult about common in
:, terests. The world can show no NOR
admirable school for men and womel
to learn the business which concern
them most deeply. They see, an
consult about, and know, and stud
mn their own business affairs. A g"ev
objection to savings banks is that the
mr. admit depositors to no share in til
conduct of affairs and teach them moth
ing whilst we state empllatically tina
building ASSOCIATIONS are u source ,
M. great and permanent blessings, no
only to those interested in them but t
NJ society in general. Yet it must renal
with each individual t" determine flo
himself whether or. not he will ava
himself of the advantages they Offer
There are certain things, however
we eau all agree upon, and one of thes
is, that if IA man does lot W a lous,
and needs one TO live in he must pa
rent for it. Because if the tenant eve
thought Of, evading payment, the LAND
j. How'd hos hin, hOupd mn nv paumant