per hour. On the reception
of the goods "notes" to the value were given which could be handed over
as equivalent for any other articles there on sale, and for a time this
rather crude plan was successful. Sharp customers, however found that by
giving in an advanced valuation of their own goods they could by using
their "notes" procure others on which a handsome profit was to be made
outside the Labour Mart, and this ultimately brought the Exchange to
grief. Mr. William Pare and Mr. George Jacob Holyoake, were foremost
among the advocates of Co-operation at the period, and a most
interesting history of "Co-operation in England" has been written by the
latter gentleman. Other societies were also in operation from time to
time, the longest-lived being the "Economic Provision Company," which
was commenced at Handsworth in 1830 by some of the workers at Soho and
Soho Foundry, 139 of whom clubbed 20s. each as a starting fund. After a
few months' trial, the profits were allowed to accumulate until they
made up L5 per share, on which capital no less than L6,000 were paid in
dividends during the first thirty years. The Supply Associations of the
present day are somewhat differently constituted, such establishments as
the one in Corporation Street (formerly in Cannon Street) and that in
High Street being on the most extensive scale, offering to the general
public all the advantages derivable from the use of large capital,
combined with a fair division of profits to the customer, as well as to
the shareholders.
Pages:
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148