SOME ECONOMIC INTERESTS 131 



ested in a particular line of cooperation. Consequently, when 

 any member drops out and wishes to dispose of his shares, he 

 should not be permitted to sell them to any person he pleases 

 for, in that case, he might sell them to some person opposed to 

 the interests of the cooperative society. Hence, the proviso that 

 a member may not make a transfer of his shares that is not 

 first approved by the board of directors. 



These are the fundamentals upon which a cooperative society 

 should be founded. If placed on this foundation, and the mem- 

 bers remain loyal, success is reasonably assured. 



SOCIAL EFFECTS OF COOPERATION IN EUROPE * 



CHARLES O. GILL 



THE expansion and magnitude of the cooperative movement 

 are no more impressive than are its social effects. In mention- 

 ing these it is not intended to give the impression that in every 

 community where there is a cooperative society all the good 

 results are observable which are commonly attributed to co- 

 operation. Doubtless large numbers of cooperators think chiefly 

 of the reduced cost of their purchases, of the higher prices they 

 have received for their products, or of other material benefits. 

 But it is none the less true that in this economic movement the 

 application to business of certain ethical principles of a high 

 character has produced a variety of other good results which 

 also are well worth consideration. 



The good results of cooperation among the poor farmers in 

 Europe are incalculably great. It has emancipated them from 

 the usurer. In many places small farmers had never known 

 freedom from oppressive creditors until the founding of rural co- 

 operative institutions. By these they have been released from 

 this bondage. Whole communities of people have been emanci- 

 pated. By capitalizing the common honesty of the poor, cooper- 

 ation has secured for the small farmer at the lowest rates of 

 interest, money to be used by him for productive purposes while 



1 Adapted from Report of Commissions, pp. 127-143. Federal Council 

 of the Churches of Christ in America. Missionary Education Movement of 

 the U. S. and Canada, X. Y., 1916. 



