Arizona weekly citizen., 1888-03-31
Tucson Building X Loan Association.

Tucson Building & Loan Association,
 On Monday next the first business meeling of this Association will be | held ct the City Hall at go p m. subscribers of Stock must pay the first assessment of Sl, per share, should 6 subscriber fail to pay his or her assess ment at this meeting. 10 cents will be added to each share. Every man and woman 10 Tucson should take ai least one share and by SO doing they will not only help themselves but their reiShbors as well.
 A passing glance at the oIgin and bis tory of Mutual Building sssocIatiOns may be of interest to many, and will serve tO show the gradual and steady spread of ihs system and the hold q has taken upon the minds Of the work ing classes of England aud America, The first institution of the kIud was established at kircudbright, Scotland. ID 1915, under the immediate super vision of the Earl If Selki-k, gentle man of large fortune and liberal and eD. lIghtened views, who IS said Co hsvs de voted DO little time and study to the periecting of this truly noble and phi lsnthropIc scheme Fms gradually extended into the manufacturing dis tricis Of England and Wales, were st- tervsrds established ID London and soon became general throughout Great Britain until they reached the number of 2050 societies about the year 1851 with su annual income of Twenty Millions of dollars.
 This system was introduced into this country about the year lS40 and to-day Building S Loan Asscciatious are to De found in almost every city, town and village in the United States aud Cana ds. To the uniniated this Mutual Sys- tenn appears needlessly complicated and difficult to understand; but It VIII be found On exsmInatIon, when once m derstOod, to be as plain as any prOpOsI- ton in simple arithmetic. Indeed. 1t seems peculiarly adapted to the wants and minds of the class Of people It wss originally intended Co benefit and whose interests are it's sole aim and end.
 The mutual plan Ot saving end bor- rowing money possesses ID every way superior advantages over all other sys- tems and plans having for their object theisssistsnce and advancement ot the working man and woml D. who are able and willing Co labor and save, on hls or her way to wealth
 The rules for governing building sni loan association: Preserve strict equality and the benefits and results are entirely mutual. There is no separate ass and no difference ID the advantages gained b. one member, over those acquired oY sny other member. under tbs system the working LIsn becomes h's own caFl- tahst, combining the small means Of many men into one lsrEe =um. which ly rapid. profitable and safe Ir ve5tneli. r-- turns gain that under otEer plans, goes into the hands of the capitalist. It ls tle principle of cooperation applied Co money. IL IS peoples banking system, the money forming its capital is Turn ished by the working man, Eho does not want the immediate use ot it, Co inc working man who wants the temporary use of 1t, and is willing to pay & reason ! ble bonus for it, giving security Ter i's | safe return. There is DO place or Occs- | sion for the capitalist ID any part ot me | system; for If a man of large means be- comes & member, taking large mum Der [ of shares, be can receive DO more profit ' on each share than the humblest mem Der can; he enters on an equal footing | snd remains SO throughout lt is plan that the scheme would not work If The stock was held by few. It requires liberal number of members, and the dis- tribution of the stock ID small amounts among them.
 All those desirous of becoming mem bers nt the Tucson Building and Loan Association. should not fail to attend sl the City Hall on Monday evening" al 7:30 o'clock.