The Barre daily times. (Barre, Vt.) 1897-1959, 1912-10-03
PLANS FOR HOME BUILDING,
In Form of Building and Loan Associa-
tion Were Discussed.

Before an audience OF fifty business
and professional men, comprised largely
if not altogether, OF Board of Trad
members, In the hall in the Boyce-Rob
inson block last evening G. w. Brown
ell of Burlington spoke for nearly al
hour on building and loan associations
with reference more locally To an organ
ization of the nature Indicated whicl
! llourishes in the Queen city at the pres
ent time. Mr.. Brownell came to Barre
ut the behest of the Board of Trade, ano
| il was President Henry A. Phelps OF
that board who introduced the speaker
shortly after s o'clock. Mr. Brownell''
remarks occasioned much interest and il
is not unlikely that more tangible steps
toward organizing an association toi
| building loans will be taken in the
near future.
Mrs. Brownell declared at the outset
that the building and loan association
aimed primarily to promote home build
ing and not to make money or produce
incomes. He maintained than any city
the size of Barre, smaller or larger, in
fact every community should interest
itself in an association of this character.
In many towns where the plan fas been
successfully tried out. he asserted, the
moving spirits in its administration
were bankers or men interested in
banks, a fact which proves conclusigely
that its operation IN no way conflicts
with the banking business. The loan
association doesn't place the banker at
any disadvantage, for the reason that
the kind OF securities held by the or
ganizatlon are not OF the character
usually accepted by banks.
The speaker cited authority on loan
association projects to show that every
town of normal growth is in need Of
living quarters for its inhabitants and
stated that the era of distant land
booms is on the wane. Every move that
tends to make homes better and more
secure is move in the right direction.
In the United States alone, said the
speaker, these associations number over
100000 members possessing over ST.
100000 in assets. Its important posi-
tion in the development of munieipali-
ties has become so significant in recent
years, that the French government only
lately sent an envoy to America to
study its operation in American cities
and towns.
In the course of his remarks, the
speaker referred to the possibilities of
loan association in Vermont and took
occasion to remind his hearers that the !
double taxation system tended TO act as
a slight drawback. although it did not |
prevent the successful operation of this |
method of building homes The plan, he |
asserted is highly feasible in spite of !
he taxation law. Mr., Brownell pro-
luced figures to show how thrifty man |
'ould own his own home in twelve years I
Inder the loan system. Burlington's as
ociation, he explained, had been in ex
stence since 1873 and although dormant I
rom that time until 1895, it had been
n important factor in the development |
4 the city. The expenses of operating,
le claimed rarely exceeded $3.50 and
much Of this could be paid by levying
i small fines on delinquent payments.
In closing. the speaker urged his hear
rs to consider the project from every 4
ngle. reminding them that the building
nd loan association plan is preaching
he gospel Of thrift and that it has for
II underlying principle the promotion
( good citizenship. An informal discus
ion of the plan followed Mr.. Brownell's
emarks