Co-operative Societies. Co-partnership 51 



other undertakings, and then for an equitable distri- 

 bution of profits among those who earn them. In our 

 own country co-operation has succeeded best in 

 distribution, that is, in the form of co-operative stores 

 for the supply of the wants of workmen's families. 

 These co-operative stores have done excellent work 

 among the artisan class, and as both capital and labour 

 are provided by the same individuals, there is no 

 antagonism between employers and employed. 



The advantages which co-operative stores offer to 

 their customers are undoubted, and it is probable that 

 the principle of ready-money payments, which is the 

 main cause of the success of these stores, will become 

 general in other branches of trade. A co-operative 

 store relies for its success on the ready-money principle, 

 and the prices of goods sold in such a store are less than 

 those charged in an ordinary shop because no bad 

 debts are made, and there is no need to spend money 

 on advertising. 



The co-operative movement really began with the 

 foundation of the Rochdale Pioneers' Society in 1844. 

 It was started by 28 workmen with sufficient capital to 

 buy only one chest of tea and a hogshead of sugar, but its 

 success was so steady and rapid, that by 1857 it had a 

 membership of 1850, a capital of 15,000, and annual 

 sales of 80,000. As all subsequent co-operative 

 societies have been founded on this model, we may 

 profitably consider the leading principles connected 

 with their management. 



Any one may become a member of a co-operative 

 store on paying an entrance fee of one shilling, and 

 members may pay up their shares by small instalments. 

 Shares are usually 1 each, and one or two of these 



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