Cromwell Argus, AND NORTHERN GOLD-FIELD GAZETTE. Cromwell: Wednesday, Oct. 13, 1875.

Cromwell Argus, Volume VI, Issue 309, 13 October 1875, Page 4

Cromwell Argus, AND NORTHERN GOLD-FIELD GAZETTE. Cromwell: Wednesday, Oct. 13, 1875.

Cromwell and the neighboring districts are no v and have been for some time past in the lead as to business, escort returns, and other successful tendencies. We have not only left our former selves far in the rear, but most other gold-seeking populations as well. And if the Carrick Range water scheme become at an early date, as is promised, an accomplished fact, and the summer at Bendigo shall redeem the pledges of early spring, idle despondency would ill become us. We can without dismay look at our shortcomings. What is lacking to us in those features of progress which show themselves elsewhere and in less prosperous parts of the Province, we can refer to without being open to the charge of croaking. A Building Society is a want among us. It would fill a gap in the town, and be an acquisition to the settlers outside. Here we have lodges of Freemasons, Foresters, Oddfel-

lows, and modern Templars in healthy working order. And Building Societies are more British than any of them. Why should we be behind here ? The experience of the last fifty years has proved the usefulness, economy, and safety of such institutions. They have made to thousands all the difference between a prodigal waste and a life of frugality and thrift. And to the Britisher they are a kind of necessity, and with his hearth-worshipping and homeloving faculty, they often prove a friend in need. Monthly or yearly rent-payings for a dwelling-place are ugly things in household economy. How wearisome is tbe ever-recurring demand ! To avoid this, sods, calico, and other frail material are engine 3red into resting-places for the weary worker. The place of eating and sleeping to many in this district is not and cannot be made a home. Indeed, the

words home and house have nearly passed out of use amongst us. By a bold figure of speech, we may call many of the places of daily resort houses or homes, but in no other way : they are existing contrivances, and nothing better. A good Building Society in the town would help at least to put a more hopeful feature upon the complexion of things, and remedy this felt and growing deficiency. There are no i-easons why we should not have such an institution here, —at least no reasons which are not

found in other places where Building Societies are seen in successful operation, Building sites can be bad here at moderate cost. Builders,and building materials are abundant. Rules can be obtained from kindred institutions: rules that have stood the test of trial a thousand times repeated, and are therefore entitled to the confidence of new beginners. Wages here are good, and most workers can find a weekly margin, without stinting, to take up shares in such a society. We have among us a goodly stock of managing talent that is now rusting and running to waste, and that in a Building Society would find useful employment. And no other part of the Province could find a more profitable employment for accumulated capital or more ample security. Such an institution would stimulate the building trade of the town, and lend a helping hand to business of all kinds in the district. The mere depositor would be able to get a higher rate of interest for his surplus funds than Banks are giving. In a Building Society, if managed with skill and economy, risks would be nil, and the benefits various. As instance, we saw not long ago a cheque in the hand of a depositor for over ten per cent, for a sum lodged in a Building Society, and that not very far frorn Cromwell. If a few of the leaders of public opinion would take up this question, and tide it over its early stages, a Building Society would soon be added to our other local institutions, and all those who are born with the faculty of self-help would not fail to avail themselves of advantages put within their reach.