42d, 
to not lefs than 5 or 6s. in any one pay- 
ment) as he or fhe might wifh to 
place at intereft. The object in permit- 
ting fuch fmall fums to be placed at 
intereft, is to encourage every propenfity 
to forefight, and faving in thofe to whom 
thefe qualities are of fo much importance; 
and the benefit of perfons of this clafs 
being the primary objeét of the affocia- 
tion, it is effential that the firft begin- 
nings fhould be encouraged, as the difpo- 
fition, once put into motion, will generally 
#0 on with increafed vigor. 
For the fame reafon, it does not appear 
necefary that the affociation fhould permit 
Jarger fums than 1001. or 15ol. to remain 
with them at intereft, as moft perfons 
having faved fo much, will not find great 
difficulty in placing out the fame on fa- 
tisfactory fecurity, by applying to aitor- 
‘ies of integrity and ref{pectability. 
It fhould be expeéted that three 
months’ notice be*given whenever it is in- 
tended to callin any of the money thus 
placed at intereft. This notice might 
reafonably be expected on the part of the 
affociatfon, but the principal reafon for 
infifting upon it would be to prevent the 
lenders from calling in their money 
rafhly, or for imdifcreet purpofes ; and 
Should they. (as may occafionally be ex- 
pected) give this notice from any fudden 
impulfe, it is not improbable that, before 
the expiration of three months, their bet- 
ter reafon may return, and chey may thus 
be guarded againft the effeéis of rafhnefs 
and indifcretion. On any particular oc- 
cafion, when the lender may have a fufh- 
cient reafon for withing to have his or 
her money at a fhorter notice than three 
months, it may be prefumed the affocia- 
| tion will be induced to pay it. 
All receipts and payments fhould be 
made, and all bufinefs refpeéting this 
affociation tranfaéted, on only ove fiaied 
day in each month, (of which fufficient 
nctice fhould be given) in crder to leffen 
the expence of agency, and the trouble 
of attendance on the part of the affo- 
Clation. 
The preceding part of this plan will, 
it is hoped, furnifh every requifice fecu- 
rity as well as facility, to the perfons 
whom it is defirable to encourage to 
place out their favings at intereft; and 
it ncw remains to fhow, that this may 
alfo be done without involving much, if 
any, riik, and without requiring more 
than a very fmall portion of the time and 
attention of thofe perfons who may be 
willing to become members of the pro- 
- pefed affociation. 
Plan for taling {mall Sums at Intereft. 
[Dec. 
Suppofe then, that, on entering into 
the affociation, each member fhould ads 
vance from rool. to 20c}. for which he is 
annually to receive intereft : and, fup- 
pofe the fum thus raifed to amount from 
1oool. to zoool. and to be vefted on 
fome real or approved fecurity, which 
might now be readily done, at five per 
cent. intereft. It would then’be necef- 
{ary to appoint a treafurer (in the choice 
of whom due care fhould be ufed) and 
who fhould, if neceffary, give ample fe- 
curity for thetruft repofed in him. - 
Whenever, after this, the fund arifing 
From fmall fums on intereft, lodged with 
the affociation, fhould amount to a pre- 
{cribed fum, the fame might be allotted 
to its members, either by. a-repayment 
of five or tem per cent. on the advance of 
an zmdividval member, and each to be 
repaid to a certain extent in rotation ; or 
by waiting till rhe fund was farther in- 
creafed, fo as to admit of repayment of 
from two to five per cent. on the aggre- 
gate advance of a// the members. The 
former of thefe plans would be lefs trou- 
blefome to the members, and would have 
the advantage of occafioning lefs lofs by 
intereft, in confequence: of ther€ being 
lefs money at any one time in the hands 
of the treafurer. The lofs by intereft 
would, however, be very trifling in thofe 
towns where there are refpeétable banks 
who allow intereft on lodgments; and it 
is to be remembered, that the fum thus 
to remain in the trezfurer’s hands, or to 
be lodged in a bank, will not neceffarily 
exceed sol. or, at moft, rool. 
On this plan, however, a farther pro~ 
vifion would be neceffary,-in- cafe the 
fums lodged on intereft with the affoci- 
ation Should have wholly, or in great part, 
repaid its members for their-feveral ad- 
vances, and there fhouid ftiil be a prof- 
pect. of farther fums being depofited on 
intereft with the affociation. _ In this 
cafe it would only be necefflary for the 
members to proceed, as at firft, by repay- 
ing the amount of their original fubfcrip- 
tions, and vetting this farther fum, like 
the firt, on real and approved fecurity ; 
after which the fubfcribers would be 
again repaid their feveral advances, in. 
the manner already deferibed, in pro- 
portion as the fums neceffary for that 
purpofe fhould be depofited with the af- 
fociation. By this means, the rifk to the 
members of the affociation would be lit- 
tle, if any, and almoft the only trouble 
they would have would be im the re- 
ceiving back, in {mall dividends, the 
fums they might, from time to time, ad= 
allen Se 
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