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Scripto | Transcribe Page
Hampton Negro Conference. Number III. July 1899.
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calculated at $1,000 per annum, and another yearly dividend of say $600, being 1/2 of net earnings of the various departments. So that in the course of a few years, the Association then showing a fair surplus as additional security to subscribers, new issues of Stock should become attractive as a safe investment for capital at a good rate of interest.
It would be provided that the Co-operative Store should carry staple articles only and so elinimate from its stock trifles and such other things as would be considered valueless to the members, so guiding in a large degree the purchasing of the ignorant.
It may be seen, therefore, that through the operation of the plan as above outlined, the farmer who had heretofore been working under average conditions would as a participant herein receive each year not only all that he previously had, but also some 3,000 pounds of skimmed milk (the most nutritious part of the product) would be added to the subsistence of the household; the family must be sheltered in a three-room cottage in place of the one-room cabin; they would all have the benefit of a good common school for longer sessions; they would be taught how to manage their farms scientifically; in case of the death of the tenant the family would be fairly provided for, while if he lived through the term of the lease he would have earned for himself a neat little farm, clear of encumbrance, and know how to manage it. It would seem too that in the majority of cases, should the plan meet with expected success, the ambitious farmer could be careful saving anticipate his payments, as provided in the "Contract and Agreement" and secure his farm by the end of the fifth year and have as snug cash balance in addition.
In conclusion it may be added that in formulating the foregoing proposition for organization the effort has been to outline a plan for an Association to be governed by a board of representative men, which Association is expected to offer the opportunity and the brains, only requiring on the part of the Negro that he shall keep sober and work; and—aiming, eventually to eliminate the element of philanthropy—to reduce the problem to a commercial basis and permit the race to work out its salvation at six per cent.
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