COMMUNITY SETTLEMENT

Otago Daily Times, Issue 19033, 1 December 1923, Page 9

COMMUNITY SETTLEMENT

POLICY OF CO-OPERATION. N.S. WALES LEGISLATIVE MEASURE. Press Association —By Telegraph—Oopyrigt*. SYDNEY, November 00. (Received November 30, at 8.25 p.m.) In the Assembly Mr T. R. Bavin (th* Attorney-General), in moving the second reading of the Co-operative Community Settlement Bill, explained that it provided for bringing the existing co-operative socities under its scope, and enabling those which were not strictly co-operative to come in. It embraced eight different types of co-operative societies, and its object* were to assist rural producers to purchase their supplies and market their products; to raise loans; to promote community and close settlement, and to provide common; public services. It also provided for urban; credit societies for assisting members to acquire furniture, tools, and other necessaries ; building societies to help members to build or acquire homes, and invest, ment societies, which would enable the members to combine for the purpose cf acquiring shares in any company or business authorised by the rules. The amount of the capital in these companies held by, members would be strictly limited, and the interest on the share capital would he limited to eight per cent. The raembershin would be unlimited, and the share® would always be purchasable at their face value, —hence speculation in them would b» impossible. . ; Mr Bavin claimed that the Bill was a 1 definite step towards an improvement- of - the existing economic system, and the solution of the problems connected therewith; ; without the employment of revolutionary methods. It was a measure in which all parties could co-operate, the aim being tol promote the interests alike of the capi-> talist, the wage-earner, the producer, and the consumer, without destroying individual initiative. He stressed the vital value ■: which the co-operative community move- • ' ment would have in promoting land settle* ' ment, increasing primary production, and checking the drift of the rural population ‘ to the city. ■ - The debate was adjourned.