Southwest Washington labor press. [volume] (Hoquiam, Wash.) 19??-19??, 1925-11-27

cnH8eEEa II E14t yer passing laws
making them possible. Since thsn e
states have enacted laws un Is jan
nary 1. 1926. II 1926 six moro states
joined the group. viz, lows. Mime
hota. Illinois. Georgia. The tolaI is
composed Of nine southern and fifteen
northern and western states. includ-
ing New York and New Jersey.
IN most Of these states the law Is
patterned after TIE lev Il Massachn-
sets. Some have patterned after the
North Carolina law, which. possibly
may be e little better suited to rural
communities. The proposed Washing
ton Law 4 patterned after the Massa-
ehusetts law with notifications sug-
rested By credit union experiences in
the United States. and i vim prove
Of great benefit to both rural and mr.
ban population. Il Is not en- expert
ment or wild-eyed scheme, but It is
q reproduction Of = law passed b. six
legislatures II 1926 and IN total coy
ering half the United States, and has
back Of i 3 solid and incontsstible
history Of q successful operation.
Credit union principles and prac-
tees have the endorsement Of such
men as Henry s. Dennison, President
Of the Dennison Mfg. Co, Boston;
Howard Coonly, President WaIworth
Mfg. Co., Boston; Mayor curley Of
Boston; Ray Stannard Baker: the late
Warren s. Stone; Matt B. Jones,
President New England Telephone &
Telegraph Co.; Judge Flynn Of the
Massachusetts Superior Court; Hon.
jos. c. Allen, Bank Commissioner Of
Massachusetts; The Russell Sage
Foundation was Of great assistance
in securing the New York State law,
and Roger W. Babson has recon-
mended It to his clients and urged
them to support the passage Of credit
union bills when offered.
Successful Operation.
The Credit Union National Extern
sion Bureau is headed by Edward A.
FiIene, President VIM. Filene & Sons,
Boston; and the Banking Group in
the Bureau includes w. G. p. Harding,
Governor Federal Reserve Bank, Bos-
ton; Pierre Jay, Chairman, Board Of
Directors, Federal Reserve Bank, New
York; John Sprunt Hill, President,
Durham Loan & Trust CO., Durham,
N. c.; Geo. E. Roberts, Vice Presi-
dent, National City Bank, New York
City; John M. O'Leary, Vice Presi-
dent, Chicago Trust Co.; R. w. Man
uel, President, Marquette Trust Co.,
Minneapolis; G. R. Ewald, Fidelity
& Columbia Trust Co., Louisville; w.
d. Ellis, President, Federal Intermed-
late Credit Bank Of Berkeleyj Jas. H.
Causey, Of j. H. Causey Co., Denver.
Successful credit unions are in OPP
Grafton in the American Legion
among municipal employees Of New
York, Boston and other cities; Fed
eral and state employees in several cit
les. Telephone workers, railroad men
and clerks in stores, groups in man,
ufacturing plants, rural communities
and groups, have found their credit
unions an ever present help in time Of
trouble. Credit unions are operating
among church groups and many are
doing good work among our foreign
born and those of recent foreign ex-
traction. In 1922 there were 10000
credit union members in Massachu-
sets alone. They have been develop
ing so rapidly that it is rather diff
cult to keep track Of statistics, but
it IL known that some $4,000 telephena
workers in New England have meme
bership in Credit Unions.
The various laws provide such safe
guards as actual credit union exper-
fence has shown to be necessary, and
the Washington measure includes
them all. Actual experience has prov
en- that these sslf-governing groups
have done more to eradicate the lean
shark than all other agencies COM
bined, and have done great good thru
the development Of financial knew
ledge even tho on q small scale. Thru
them, hundreds Of men and women
have been furnished = financial anchor
IN time Of sickness, death or financial
disaster, by means Of reasonable, I'M
mediate credit. and saved the lives
many Of criminality or suffering;
widows have been able to keep their
families together and secure and nm
ashamed living for them: others have
been saved from suicide; while the
courage that comes to men from the
knowledge that they have sure
means Of helping themselves without
charity or beggary 6r theft, has given
as q better and more reliable citizen
ship. Whether one approaches this
aa an American or as 9 humanitarian
or as one who would directly partici-
pate in it's benefits, he can not but
find it entirely worthy Of HIS enthps-
iastic support.
Senator Metcalf, who has introduced
this bin, visited Europe in 1913 as E
member Of the American Commission
to investigate Rural Credits and has
seen these credit unions ct WORK 81
their native heath. He is thoroly
posted on the subject and IS An ardent
supporter. The bill is being support.
ed BY the State Chamber Of Com.
merce, the State Federation Of Labor,
I thu Crnnnn TIA Ratfns Rs4nfs.aaa IN.