Inaugural Address Delivered at the Thirty - first Co - operative Congress. By Frank
Hardern. (Co-operative Union, Manchester.) —There is much that is interesting in this address We may quote some significant figures Share capital has in- creased between 1888 and 1898 from £10,393,894 to £19,759,039; sales from £86,735,045 to £65,450,871; profits from £3,414,907 to £7,165,733; and investments from £5,813,923 to £11,681,296 This last item is very satisfactory, for thrift has manifestly been
encouraged by prosperity. It suggests also another fact which may help to solve a great problem. Here is what Mr. Hardern says :—"A working man, with the usual family surroundings, commencing life, say, at twenty-five, capitalising the dividend
from his purchases at the stores in less than twenty- five years can do something more than provide a return of 5s. per week at sixty-five years of age." What follows shows us that Co-operation does not necessarily mean Socialism. Mr. Hardern welcomes this prospect as much better than that "the State should make another step towards housing, feeding, and clothing" its citizens.
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