238 HISTORY OF THE WHEEL AND ALLIANCE. 



a larger amount of money than lie has actually paid in. 

 Sec. 22. We, the undersigned, agree and bind our- 

 selves, severally, to take the amount of stock set opposite 

 our respective names, in the Co-OPERATivE ASSOCIATION 



of in the County of . 



State of and pay all assessments thereon 



made by the board of directors : 



The wording can be changed to suit any kind of 

 business, and such by-laws adopted as the business requires 

 and the stockholders think proper. 



As a means of rendering more efficient the co-opera- 

 tive stores and other enterprises throughout the country, 

 every State should organize at some point, convenient and 

 centrally located, a State Exchange. The importance of 

 such exchanges cannot be overlooked if we would make a 

 success of co-operation. They add financial strength and 

 credit to the other co-operative business enterprises in the 

 State, and command the confidence of the commercial 

 world. In the shipping of cotton and sale of the products 

 of the farm they are almost indispensable. At a meeting 

 of the State Business Agents at Meridian, Mississippi, 

 during the time of the meeting of the National Wheel and 

 Farmers' Alliance, the Exchange system of Tennessee was 

 recommended as the best, and the co-operative system of 

 the Arkansas State Agency adopted. For many reasons, 

 some of which are set out by the Arkansas State Execu- 

 tive Committee in the organization of an Exchange for 

 that State, every State should have an Exchange. We 

 also give the articles of association of the Arkansas State 

 Exchange. 



WHEREAS, The Agricultural Wheel and other labor 

 organizations of the States of Texas, Louisiana, Mississippi, 



