Evening capital journal. (Salem, Or.) 1888-1893, 1889-07-20
HOMES ron woRKrNo MrS.
a building Society the Best Agency {,
Furnish This Want


I Furnish This Want.
One of the most useful enterprises
that could now he. started in this
city would be a building society. As
our readers understand, the object
of such an association is to provide a
means for the working man and
those without capital to procure
homes of their own and thus deliver
themselves from subsection to the
landlord. In other cities i'm this
country and in Europe, this agency
is Tessrted to to enable the impecu-
neous classes to free themselves
from the burden Of rent; and the
amount of good it has accomplished
can hardly be set down in figures.
The man who owns his own house
becomes a stable citizen; he is placed
In fair and equitable relations with
society; he is in no danger of being
turned out of doors i'm case of sick
ness or lack of employment, and it
Is sovereign cure for anarchy.
Property holders are also benefited
by its operation, as building lots are
constantly in demand by stockhold-
ers i'm such an association, and the
means are furnished by the month
ly installments paid into its treasury
to pay cash for the same.
Another consideration has weight
In this connection. A manufactur.
ing industry can never be developed
and successfully prosecuted in a city
that lacks in proper facilities for the
well being of the operative class. 1t
the main element of cost in every
article we use; hence the local scale
Of wages paid is the chief factor in
the success of industrial enterprise.
Rival cities which succeed i'm manu-
factures not only have the crude
material to their hands, but they
have the further advantages of an
abunoant market, cheap homes, Cif
they are not always desirable), and
the other necessaries of life simmer
ed down to the lowest cost.
Now that Salem is growing in
has number of in
dustrial establishments on the way,
and is possessed OF the laudaible am
bition to keep up with the worlds
in order to secure the sue
cess of this movement we must also |
make adequate provision for the
and well being of our
working class. Next to II cheap and |
well supplied home market, which
we already possess, suitable homes
are the desideratum. The cry is
already heard that there is an in
supply of such abodes,
and property holders show no will /
ingness to build low priced cottages
for rent rs such an outlay of capital
is not remunerative. The resort
then Is to one or more building so.
cietics. The amount paid monthly
on shares by the stakeholder is no
greater than he. would pay to his
landlord for rent; but there is this
difference in the outlay, that in the
'ormer case he purchases home in
about six years, while the money
paid for rent procures him merely
, temporary shelter
Small savings by the prudent
may enable hIm to
an Inexpensive lot to build
IN, but the erection of house there
N is beyond his means. He cannot
procure accommodation mt the bank,
'ecause he has no security to give,
md thus his efforts ut providing for |
he future comfort and security of |
Ms family are apt to be futile. But
he building society advances /
money to the shareholder without [
isk, paying for materials no faster
han they are purchased, and pay
ny the wages of the working men d
; their services are rendered. A :
committee selected from the ,
Ittest and most discreet of its men, !
ers controls all disbursements, and a
mortgage takon upon the property !
{ every borrower secures the society
rom possible loss.
We make tins suggestion as rele- :
ant to the time and occasion, and .
elieVng il will be of use To our n
'aoers, propose to dwell further ON r
ne subject. 2
The Teachers Institute. 3,
Correspondence of the Capital Journall n