The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-07-18
PROSPECTUS
OF the National cooperative AssOcia-

OF the National cooperative Associa-
ton.
1t IL respectfully submitted, that every
consideration of our material welfare en-
braced by the problems Of production"
and distribution"
Further, that as we are compelled to look
to the soil as the source of all wealth the
'1and question is the same as, and in
wolves all problems of, production Again.
that until our present system of land ten
ure is altered by legislation, all that is pos
. sible for patriots to accomplish in the way
of land reform will be through educational
methods, the land being limited in amount,
and every acre subject to public or private
title, and consequently to monopoly and
speculation.
The money question:" however, 1t Is con-
tended will be found, upon close examina-
ton, to Embrace all the problems fnetmoy17
ton, to embrace all the problems of dis
tribution, including transportation and the
transmission of intelligence, and occupies a
very different position. Money monopoly
is only possibly restricting the volume Of
currency, the object Of which Is usury and
the arbitrary raising and lowering of prices.
causing panics, strikes, and widespread mis-
cry and disturbance.
Usury, however, is chief among the aw-
full burdens that have been placed upon the
shoulders of labor and constitutes barrier
to progress which many ardent reformerS
even do not fully appreciate, constituting,
as it does, physical impOssibility for Ia
Dor to battle with. Labor never has paid,
never can pay, cumulative interest
Now as but a small percentage Of our
wealth and labor is changing hands at one
time. If that percentage be represented py
currency 1t is self-evident that our ex-
changes would be on strictly cash OASIS
labor become entirely free Tin so far as dis
tribution is concerned) and RESTRICTION OF
the circulating medium a thing OF the past:
CToday less than l per cent of our assessed
value is represented by currency!
It is proposed then to organize the Ma
tional Cooperative Association, the opJects
of which are as follows:
The association shall establish bank IN
each state and in each county as soon as
it has secured a sufficiently large menioer-
ship said banks to conduct a general bank
ing business and operate under state laws
These banks shall issue credits, which shall
be amply secured with such collateral as
state, county and municipal bonds, ana
also upon private notes secured py nrst
mortgages of real estate to the amount OF
at least 200 per cent. They shall also issue
credits upon works of public character
undertaken by the association or any other
so-called imperishable security whenever
called upon by members of the ASSOCIATION
| to do so.
Credits so obtained will be subject to
check the same as ordinary deposits, and
| said checks will be receivable by members
| as currency, and by the banks on deposit
| only.
Credits shall be issued at the cost of OBJ
tanning security, examining titles, etc, and
| all questions of interest would be relegated
| to a dark and would-be forgotten past, as
| the delivtry of bandits and the burden OF
| slaves.
| Not being sustained by mythical
..basis" or issued over and over again
upon a single deposit, confidence in the
bank would not be such a prominent requl-
site as it has been, while panfcs would be-
| come a relic of a semi-barbarous age.
Wherever natural or other wealth might
be found upon which to expend labor,
there also would be found a basis for credit
and currency to represent it, thus giving
to labor not only constant employment,
but insuring for it demand even greater
than the supply (until'we begin to feel the
stress of land monopoly. Wages and
profits would then come naturally under
the law of supply and demand, and COM
petition be a blessing instead of curse.
The association would also undertake the
construction and operation of works Of a
public character, maintaining and operat-
ing such works for the public benefit at
cost.
1t might also fit to assist in the
establishment of such enterprises the
manufactur of steel rails, and other IT'LL
tiles of semi-public character requiring
large amounts of capital, but it is deemed
highly advisable to secure the cooperation
of the manufacturers of such articles
when practicable. This. it is believed, will
be possible to do before the lapse of much
time when the power of concentrated eff
fort is realized by present monopolistS, and
the risk of competition with a large sec
ton of the people fully considered.
The association will carefully avoid any
cept in such cases as stated, and then only
on compulsion. So far will this principle
extend that every member may continue
in his present occupation, or change it at
his will. No immigration to Paraguay
Uruguay will be necessary, and choice of
SOIL climate and association will remain
a matter for the exercise of individual
taste.
AS to organization it is suggested that re-
formers in each county get together and
form local societies and hold themselves
ready as soon possible to send delegates
to a state convention when state organ
ization shall be completed. There should
also be appointed in each state, without
formality of loss of time state secretary
protein whose duty it shall be to collect
the names, addresses and occupations Of
prospective members in each state and
classify them according to the nature OF
their employments and the kind of labor
or products they wish to exchange. Men,
bers (after organization will be required
to subscribe an annual fee and pledge
themselves to take at par the credits of
the Association to at least a specified
amount.
All those in Iowa favorable to the for
nation Of the association, and those who
would ndorse and sustain in loyal man
the objects of the association re-
quested to send in their names. addresses,
occupatio etc, to the undersigned and
bring the matter before their friends with
out delay Once started nothing can with
stand, US, for right
Printed matter giving further details will
be distributed as it is learned from
correspondence where light is needed and
upon what points All those desiring in
formation should enclose stamps for reply.
Will reform journals throughout the
country please give the matter as much
publicity possible?
T. c. Davis. (Sec. Pro tenn
Des Moincs, Iowa.
Want to BE Enlightened.
TOMAHAWK, Wis, July l, 1894.