SOME THOUGHTS ABOUT CO-OPERATIVE STORES. [TO THE EDITOR OF THE
" SPECTATOR.1
SIR,—There is little doubt that the fast and furious onslaught made by the Shopkeepers on the Co-operative Stores will be unsuccessful. The position of the latter, intrenched in legality and buttressed by popular support, is impregnable ; but before the question stops, it may be worth while to consider some of its aspects. Although it has long been obvious that the commercial transactions of the Stores are of great magnitude, yet it is startling to find, from the voluntary statement made by one of the officials of the " Army and Navy," that the gross in- come of a single firm already amounts to £1,540,000, and that (as the saving to members is reckoned at one-fifth) its net yearly profits may be rated at £300,000. When a fortune approaching to this is centred in an individual, say, for in- stance, a duke, or county magnate, or London merchant, he is practically compelled, by the "unwritten law" of public opinion, to devote a considerable portion of both influence and wealth to useful and charitable purposes ; he who fails to do so, loses much of the consideration he would otherwise enjoy. Hitherto it has been tacitly allowed that from public companies this is not ex- petted ; some companies, indeed, have shown themselves most munificent and public-spirited, but it will be admitted that none have quite come up to the standard fixed for private individuals in similar circumstances ; and to this may, in my opinion; be ascribed much of the pauperism which is a dark blot on our English civilisation. The wealth of this country does not con- tribute its quota in coin, or anything like its quota in intelligent influence, towards diminishing poverty ; and the more that wealth is centred in corporations, instead of being distributed among individuals, the more the evil will increase. It is im- perative that before it is too late some change should be made, some initiative taken. And it appears to me that no men are so well fitted or so bound to take that initiative as the Directors of the West-End Co-operative Stores. They come from a section of society who have habituated their fellow-countrymen to expect much from them ; the strong sense of responsibility which is among their best traditions, their knowledge of the real needs and requirements of social life, their deeper culture and more varied experience, give to men in this position, who make use of their opportunities, an immense advantage over those of the middle and lower classes in their conduct even of the familiar concerns of life. Probably the success of the Stores is in great measure owing to the confidence the social position of their promoters inspired. They have already done a great public service, by putting plainly before people the value both to buyer and seller of ready-money payments ; by showing that the system of credit blesses neither him who gives nor him who takes it ; by their determination to supply their customers, no matter what trouble is involved, with none but sound and unadulterated goods ; by reducing the price of many necessa- ries of life, and benefiting trade by increasing the consumption; while in their dealings with their large staff of servants they have been most considerate, liberal, and generous. But because their conduct has, from the outset, and as a matter of course, come up to the highest standard of commercial righteousness, our expectations will be disappointed unless they exceed it. It is said that the prosperity of a great banking-house dates from the practice, now persevered in for nearly one hundred years, of setting aside a certain per-centage of the money invested in every speculation as the " portion of the poor," a rule which, whether in the smallest sum paid over a counter in the Frank- fiirt Judengasse, or in negotiating the loan which was the ran- som of an empire, has been scrupulously adhered to. The good which might be done by a very trifling per-tentage on an income of £300,000, rapidly increasing, if administered with the great intelligence and discernment which have distinguished the operation of these companies,—the light which their vast and accurate knowledge of the gains, difficulties, and needs of work- ing-men in every trade, might throw on many social problems (especially on that which Sir A. Helps considered the crucial difficulty of the world, the right distribution of labour), will occur to every one.—I am, Sir, &c., M. F. D.
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