The labor world., 1922-06-24
Not by Revolution.

- ~OAANo6S' ~ AAAuSI give way 10
Not by Revolution. +. ......
That something is co1opera-
ton, not by revolution. not 3by
law, but by the. voluntary acts of
the people themselves, Revolu-
tions may have succeeded in re-
generating governments, but they
invariably destroy industry. That
is the lesson history teaches. The
development. of; industry :. has
been through the a. evolutionary
process from the beginning. It
can not be otherwise. :; ::
Under democratically owned
and managed cooperative system Ia
Dor will not only share in the. just
distribution of the fruits Of indus
try, but it must assume its share .,of
the responsibility of management
and the risk incident to its conduct.
Must Learn, Management. -, =
The workers are beginning to ap-
preciate that fact. They are begin
ming to learn that they must acquire
some knowledge Of the management
OF business, and for that reason they
are organising Cooperative enter
prises throughout the country. They
are experimenting in every. line of
business. They own banks, general
stores, factories. mines and many
other Institutions, some of which
have long past the experimental
stage , ,E@.:1,., - s =
>. In. Duluth labor has yorganized and
zig, conducting a8ssco-operativs zr,o-
Gerry, labor temp1e, /, an insurance.
service. "a real estate business, q
recreation pavilion and a. building
and loan, sssociation. W.. -!
IT, - Young But Strong. :#srs
One Of the ,younsest Of the labor
cooperative organizations in Duluth
and yet one which, il showing q
rapid growth and bids fair to out
strip those much older ;, is the st.
Louis County Building and Loan as
sociation: " = =: - y !. -: q
In operation scarce three months,
the association can point with: pride
to the fact that thus far it has III
nanced the building, Of seven homes.
which represent value OF approx
mately $4,000. Two of these homes
have been completed and work. on
the others is progressing rapidly. {
The association has two primary
ob1ects-one to provide q safe IN
F-stitution for the deposit OF. savings,
and the other to furnish an .ayency
which would allow the average man
to own his own home the cost Of,
which would be within his means
and would not mean 4 financial, bur-
den to him. =: g, :. 'z.. y,
Success From Beginning.
+ In both these ambitions, the A.
sociation. has been successful: SAY
inss deposits are being made. by
many subscribers to the: association
each week who are desirous Of Tx
ing advantage Of the X per: cent
rate Of interest paid which ID above
that offered BY other financial In
stitutions. In addition. they have: the
satisfaction of knowing that their
savings are in safe hands, for ssfety
is the watchword: Of thes association
and it's functions are determined BY
the laws Of the state and SUPERVISED
by state examiners. :, $3.50
Loans for the purpose OF, buildinr
homes are charged m interest rate
Of y per cent and this Ii Il much
lower rate than can be secured from
other banking institutions or loan
associations, when consideration Il
given to the fact thatn cSinmtssioon
Of any kind u charged. 4his: rats s.
made possible because s. tie associa-
ton IS not ,conducted. Tor profit but
for the benefit of its members. In
fact, the officers of the asDociation
are emphatic In calling att4ntion to
this phase. Of the or4anization ana
Particularly stress the fact that IL
has notaands never will 20 -opsratSd
sfor profit nor has it 4 :in NJ bpeis.
or records any place, that provides
for, the tahins cars ,sofs profits.
TIE HunAan Elel Il. { $: - !.
While conducted on business lines
and in accordance with good bust
ness principles. the association.
nevertheless, recognises ;tAat syrn-
pathy and 4 helpful interest III tIsj5
affairs OF its smembsrssars also val.
liable assets In the successful con-
Quoting Of its business Thus e has
arranged to make the repayment sofs /.
its loans ~ easysAs possible andsac--
cordingly has 2sst the payments st
ono per cent per month OK one sd0i-
lar on every hundred .borrowed.sTh This
means that if 8 borrower hass o.
stained 81. .ooo.s he would s.rspay 4ts at
the rate of $50 . month. Not only
y the payment thus made Aasy MT
4 also inc,udss both: psdneireI eIs and
int1fe1t. 5s,ssss
SIS b,.ld mn. Who llI stol B
81, ;