[To the Editor of THE SPECTATOR.] SIR,-I have no wish
to enter into a controversy on the subject of Mr. Pakenham's conversion, but there is one point in the letter of Francis H. Yeatman to which I wish to take exception. Mr. Yeatman suggests that the Co-operative Societies are at basis capitalistic, and cites the example of the club or voucher system, suggesting that the to per cent. commission received by the collectors is paid by the unsuspecting member.
This very club system is one of the examples I might cite to prove that the Co-operative Societies are not founded on a capitalistic basis. While private clubs naturally have to charge commission over and above the purchase price of the article if they wish to make a profit, the Co-operative Societies pay their collectors out of their general funds. The amount of credit allowed depends on the purchases of the member during past quarters, and he or she receives the same treatment and pays the same price as a member who pays cash. Naturally these credit facilities are open to all members of Co-operative Socie-
ties.—I am, yours faithfully, JOHN BAIRD. 69 High Street, Birmingham.
Previous page
