The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1893-05-13
BUILDING AND LOAN ASSOCIATIONS.
Safer Than . Savings Bank and Paying
| Better Interest.


Better Interest.
Building and loan associations are an
outgrowth, in the United States. Of the
last 90 years. There are thousands Of
them in existence to day. and it is hardly
too much to say Of them that they may
become the saviors Of civilization. They
are quiet force, attracting but little
public attention. The encyclopedias
dismiss them with comparatively few
remarks; the usual reference books Of
statistics say nothing Of them; an eiab-
crate three volume encyclopaedia OF
political economy on our shelves does
not recognize their existence. Yet their
influence to-day on the social aspects OF
our civilization is almost Unreasonable
and their financial importance Is ire
mendous. They are, In the FIRST place,
BODYBUILDING societies. All over tho
land are happy homes occupied by
people Of moderate means, which have
been rendered possible only through
these cooperative associations. IL it
be true that in the homes of nation
are to be found the virtues preservatiye
OF society, then whatever, In these days
of crowded cities growing steadily more
crowded. makes possible to the artisan.
and clerk and laborer Of straitened
means home of his own, is a savior OF
society and may yet become the strong
est bnlwark against the tides of reckless
disorder that threaten already to engulf
some of the old-worid nations. Theirs
is another side almost equally import
ant. Such societies are promoters of
thrift, superior in many respects to thn
savings bank. The incentives to thrift
have been weakened since the DAYS of
our fathers. The small savings of those
dependent upon salaries 60 into the
savings banks or private banks or are
loaned to capitalists, returning meagre
interest 10 the lender and helping to
swell the fortunes of those already
wealthy, thus aiding in the coneentra-
ton of wealth, which is becoming one
of the great perils of the times. Or,
worse still, The savings 60 into speculf-
tive ventures and are swallowed up for
ever. Life insurance is another recer-
tac.e for the savings Of the thrifty, but
life insurance, while il has been
blessing TO the families of those who
have died early has been almost life
and death struggle TO mnltitudes of
others and a means of loss and waste 10
many more who have bcen unaLle to
continue their policies Persons of small
salaries, teachers and ministers for in
stance, have needed something addi-
uonal TO enable them to provide for the
future, and such cooperative societies
have provided for this need. Invest
meEts in such associations, in whose
control the investor then receives a
voice and which are super, ised by HE
banking department of the state las Is
the case in several states furnish tie
best possible conditions of security. Tie
small monthly investment counts 10 the
utmost. To start 20 shares OF 800 each
requires first payment of 81 and
monthly instsilment of $40, equal to
IS cents day. In from nine to ten
years the investor may with confidence
expect TO receive back $1,000 in cash,
his investment being compounded
monthly. This sum invested in partially
prepaid stock may be expected to fur
nish regular income OF six per cent.
on the investment and, in addition. by
the accruing Of profits, to double itself
in from 10 TO 10 years, making 5000 to
be received in cash. The first associs-
ton CT the kind in this country was
formed in 1881 in Pennsylvania; but
only within the last 10 years have the
full possibilities of such organizations
dawued on the public. Their economic
and sociologic influence in the future
can hardly be ovcrestimated.- The
Voice,