THE STORY OF THE CO-OPS
The Story of The Co-ops THE ROCHDALE PRINCIPLES ASMALL group of 28 flannel weavers of Rochdale, England, were having great difficulty in keeping body and soul together back in 1843, due to the...
...7. A certain portion of the earnings were to be set aside for purposes of education, depreciation, expansion, and unforseen adversities...
...2. Earnings distributed to members in proportion to the volume of business contributed by caoh member, with only a small percentage allowed for interest on capital stock...
...No credit was to be extended, because Of the danger of loss of capital...
...On Dec...
...These are, in brief, the main concepts of the Rochdale Pioneers in their cooperative set-up, 95 years ago...
...No one was to be barred for racial, political, or religious reasons...
...Similar stores have failed or succeeded according to how closely they adhered to these principles...
...From this lone cooperative, other cooperatives all over the world have followed its doctrine...
...Regardless of tlie number of shares held, each member had but one vote...
...The Story of The Co-ops THE ROCHDALE PRINCIPLES ASMALL group of 28 flannel weavers of Rochdale, England, were having great difficulty in keeping body and soul together back in 1843, due to the very low wages paid by the mill owners...
...Similar cooperative stores had been tried but a few years before, under the leadership of the liberal-minded Robert Owen, but they had all failed...
...5. Sell for cash...
...Following are the principles of a successful purchasing society, known everywhere as the famous Rochdale principles: 1. One man-one vote...
...4. Open membership...
...Butter, flour, oatmeal, and sugar were their main stock of goods...
...These Rochdale pioneers had spent time and thought on the principles Involved in running a cooperative store, and as a result, this immortal group laid down the fundamental concepts of a purchasing cooperative that has been used ever since that time as a model for all types of purchasing associations...
...6. Regular market prices were to be charged the patrons, in order to prevent possible price wars by competitors...
...Since then, thousands upon thousands of similar cooperatives have been organized, but many have failed...
...Only these who have adhered closely to the Rochdale principles have been able to weather the various economic storms that occasionally cross the paths of any kind of bushier organization...
...Their success was slow but sure...
...By denying themselves even the bare necessities of life they finally managed to amass 28 pounds, or $140 as a beginning capital to finance their own grocery store...
...21, 1844, these brave weavers opened up a night store on Toad Lane, and began to supply tscmselves with staple foods...
...3. The right for the earnings on the business of non-members to accumulate sufficiently to buy shares if so desired...
Vol. 10 • March 1940 • No. 12
