Thrift eBook

This eBook from the Gutenberg Project consists of approximately 437 pages of information about Thrift.

Thrift eBook

This eBook from the Gutenberg Project consists of approximately 437 pages of information about Thrift.

The society grew.  It established a store for the sale of food, firing, clothes, and other necessaries.  In a few years the members set on foot the Co-operative Corn-mill.  They increased the capital by the issue of one-pound shares, and began to make and sell clothes and shoes.  They also sold drapery.  But the principal trade consisted in the purchase and sale of provisions—­butchers’ meat, groceries, flour, and such-like.  Notwithstanding the great distress during the period of the cotton famine, the society continued to prosper.  From the first, it set apart a portion of its funds for educational purposes, and established a news-room, and a library, which now contains over six thousand volumes.

The society continued to increase until it possessed eleven branches for the sale of goods and stores in or near Rochdale, besides the original office in Toad Lane.  At the end of 1866, it had 6,246 members, and a capital of L99,908.  Its income for goods sold and cash received during the year was L249,122; and the gross profit L31,931.

But this was not all.  Two and a half per cent. was appropriated from the net profits to support the news-rooms and library; and there are now eleven news and reading rooms at different places in or near the town where the society carries on its business; the sum devoted to this object amounting to over seven hundred pounds per annum.  The members play at chess and draughts, and use the stereoscopic views, microscopes, and telescopes placed in the libraries.  No special arrangements have been made to promote temperance; but the news-rooms and library exercise a powerful and beneficial influence in promoting sobriety.  It has been said that the society has done more to remove drunkenness from Rochdale than all that the advocates of temperance have been able to effect.

The example of the Rochdale Pioneers has exercised a powerful influence on working-men throughout the northern counties of England.  There is scarcely a town or village but has a co-operative institution of one kind or another.  These societies have promoted habits of saving, of thrift, and of temperance.  They have given the people an interest in money matters, and enabled them to lay out their earnings to the best advantage.  They have also given the working people some knowledge of business; for the whole of their concerns are managed by committees selected at the general meetings of the members.

One of the most flourishing co-operative societies is that established at Over Darwen.  The society has erected a row of handsome buildings in the centre of the town.  The shops for the sale of provisions, groceries, clothing, and other necessaries, occupy the lower story.  Over the shops are the library, reading rooms, and class rooms, which are open to the members and their families.  The third story consists of a large public hall, which is used for lectures, concerts, and dances.  There are six branches of the society established in different parts of the

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