CO-OPERATIVE COMMUNITIES.

Auckland Star, Volume LIV, Issue 287, 1 December 1923, Page 7

CO-OPERATIVE COMMUNITIES.

. A BILL IN N.S.W.

NEW SYSTEM OF AID SYDNEY, November 30. In the Legislative Assembly the At-torney-General, Mr. T. R. Bavin, moving the second reading of the Co-operative Community Settlement Bill, explained that it provided for bringing existing co-operative societies under its scope, and enabling those not strictly co-opera-tive to come in. It embraces eight different types of co-operative societies with the object of assisting rural producers to purchase supplies and market their products, to raise loans, to promote community and close settlement, and to provide common public services.

The scheme embraces also urban credit societies for assisting members to acquire furniture, tools and other necessaries; building societies for helping members to build or acquire homes; and investment societies to enable members to combine for the purpose of acquiring shares in any company or business authorised by the rules. In the latter case the amount of capital held by each member will be strictly limited and the interest on share capital limited to 8 per cent, but the membership will be unlimited. The shares will always be buyable at face value, hence speculation in them will be impossible.

1 Mr. Bavin contended that the bill was a definite step toward the improvement of the existing economic system and the solution of problems connected therewith, -without th,e employment of evolutionary methods. It was, he said, a measure in which all parties could cooperate, the aim being to promote the interest alike of the capitalist and of the wage-earner, producer, and consumer, without destroying individual initiative. He emphasised the vital .value the cooperative community movement would have in promoting land settlement, increasing primary production, and checking the drift of the rural population to the cities.

Tlie debate was adjourned.— (A. and N.Z. Cable.)