Waterbury evening Democrat., 1889-08-15

established and developed here will prove paying investment for all talk ing stock therein.
 The scope and purpose of these assocl- ations, which in their earlier days were known as building clubs" is the form ing of corporations i'll which the mem- bers shall loan money to one another on certain fixed terms, and by means of which laboring men. for the most part in our cities and towns, may be able to add to the | shares which they have purchased Ill this association, together with the fines and dues which accrue, sum equal to what they have already invested Ill them, and apply to the building or buying of homes for themselves. There can be little doubt that the purpose is good and the design exceedingly practical and the history of the associations from the foundation of the first one, which was organized in suburb of Philadelphia l in 1881, has been instructive and encour- aging for those whom they are formed
 to benefit. The success which has at
 tended them, generally speaklng' wherever they have been established, is
 a glowing recommendation of their in
 herent power for good. They mean for
 our people the formation of habits
 of promptness, saving, frugallty ana industry, and the earnest effort to ac- quire and accumulate enough money
 so that they can use their own
 strength and opportunity to ad-
 vantage. These associations have
 very great advantages. They are
 fined to the county or the city where they are located. There is little danger
 that the money will be spirited away. The management costs little. The
 funds can always be loaned at legal
 interest, and sometimes in advance.
 The plan is more potent than the savings
 banks i'll stimulating savings, and can
 be introduced earlier into small places. , 1t gives great many people who have never thought of it before certain
 definite object, and it is located so near
 to them that they can easily ascertain {,
 proposes definitely to family a system of thrift by which the father, already thrifty, takes shares for his children and q trains them to habits of saving more
 easily than he could otherwise. It was f remarked by an English traveller S twenty-five years ago that pawn f brokers stood small chance
 of doing anything in America because a the working people did not get into r. straits, and though we fear he would
 have to modify his remarks if he were
 iagain to look in on us there is reason tC : believe that much of the thrift that is t characteristic of them can be traced S straight to the operations of these savings l and loan associations. Certain it is that r they have done very much ill different parts of the country to secure for our in q dustrial and wage-earning population wnlcn gro" w1re1r- sn1,J Ial,;ts-ef ttluift 6 formed and tend to the best results in ad l. vancing the masses of men in their ma e terial welfare.
 Persons who examine these associa
 tions will see that the plan in which the,
 are formed is not only safe, but wise Organized under legislative guidanc, and restriction, and guarded by wis. l. state supervision, they can hardly fai to prove blessing to the people U as they always have done wherever they u have been fairly established and ex
 tensively developed. And we are O. $ opinion, that, if rightly organized ant conducted ill an industrial city like ou own they cannot be other than mos e highly beneficial in their results to tn, > working people who avail themselves O. a their advantages.
 $ Should the plan be put in operation il Waterbury, as there are sure indications that it will, we bespeak for the indus trial classes an effective system of secur q ing homes of their own. And we be speak for the plan itself success sim I liar to that which it has enjoyed il e other places where it has been tried,