The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1891-05-13
Is 1t Right

The Western Reserve Savings and Benefit
Association now numbers about 75 members,
each one expecting, OF course, to get a very
large something for very small nothing The
plan is to organize with fifteen charter mem
bers, who proceed to cast lots for position in
the drawings" That is to say they gamble
for their numerical order. and the individual
fortunate enough to get first place is safe from
further competition and is thereafter known as
No. 1, and the first $500 coming into the treasury
is used to pay him the amount of his certificate.
The certificates each call for $500. No. 2 is the |
next lucky man. and so up to No. 15. $50 or |
16 per cent of each atured certificate is retain
ed by the society, % per cent of which is placed
in reserve fund, to be forever inviolate eS-
cepting in case of smash" 1t will then be
used to reimburse all members who have not
realized on their certificates the amount ef their
! investment. Whether or not it will do SO can
be easily figured out. The fund has been not
| inappropriately termed 1.-THE strange gods
| fund.-" as Its creation anticipates the time when
| the people, in obedience to the great law of
American human nature will be drawn to some
new and more attractive enterprise for realiz-
ing large returns small investments. The
balance and interest on this reserve fund is to
be applied toward paying certificates as they
mature. No. will probably draw his $500 at
the expiration of the first month.
the membership lee Is 50 ard the monthly
dues S1.25. No. thus realizes s42O on an actual
payment of S6.25 But this is not all there is
sin it'' Tor him. He is thereupon given another
paid up certificate, conditioned that he remain
with the society five years from the date of pay
ment, which Of course he will do. However, he
cannot take number under 500. In case he
realizes on his second certificate within five
years, he is literally getting something for
nothing, fer he receives $420 that has not cost
him cent, He is then given third paid up
certificate. and so on ad infinitum, world with
out end.
When the fifteen charter certificates are all
paid. the balance will be liquidated in the order
: of membership, thus making it very desirable
, for everybody to Join early.' After the fifteen
charter members have completed the organiza-
, tion of their benevolent society, the next thing
! for them to do is to swell the membership suf-
: fciently to insure the payment Of their certif-
/, /, Gates which would require many accessions to
. the ranks. These new comers, who are not per-
mitted to gamble with the fates for position
but as stated above, take rank in the order of
membership, must induce others to join in order
" that they may get their $500 In addition to
this incentive to obtain new men bers. a pre-
MUM of 81 is allowed for each additional mem
Der. One man in Cuyahoga Falls made $3t in
this way one day last week.
| OF course the longer a member has to wait
before realizing his first certificate. the more
r it will cost him in actual cash payments.
Men of all professions and trades are handing
: in their names. and church members worldling:
t and members of secret societies all meet on al
!. equality in the Saving folds of this Benevolent
Institution. which seems 10 be triune mixture
g of faith, hope and cash. Fhe Louisiana lottery
t has nothing in common with societies OF thi;
g kind, although at first thought some of oul
readers might imagine such to be the case. Ii
: the first place there is everything in its name
9 Compare 1.-The Western Reserve Savings aut
: Benefit Association with IT ouisiana Lot
teryi'' In the second place there is one chance
in a thousand to win in the latter, while in tS'
arithmetic of the former there is the absolute
e certainty of perpetuity, regular succession O
wheels within wheelsi The reserve fund il
r simply to quiet the fears of the timid Whel
t every body in Ravenna and vicinity has Joined
it is proposed to take the county, State ant
: nation. successfully. thus insuring perpetuity
q 1t is claimed by some of the organizers tina
with q membership of 400, first fifty certificate:
e will be paid in two years, 1t may be.