Samuel Smiles：Thrift, Excerpt 224

The Rochdale Corn-mill grew out of the Rochdale Equitable Pioneers Society, which formed an epoch in the history of industrial co-operative institutions. The Equitable Pioneers Society was established in the year 1844, at a time when trade was in a very bad condition, and working people generally were heartless and hopeless as to their future state. Some twenty-eight or thirty men, mostly flannel weavers, met and formed themselves into a society for the purpose of economizing their hard-won earnings. It is pretty well known that working-men generally pay at least ten per cent. more for the articles they consume, than they need to do under a sounder system. Professor Fawcett estimates their loss at nearer twenty per cent. than ten per cent. At all events, these working-men wished to save this amount of profit, which before went into the pockets of the distributers of the necessaries,--in other words, into the pockets of the shopkeepers.

Source： https://www.gutenberg.org/ebooks/14418
Locator：Excerpt 224 · Verified：2026-10-19 · Verification：Short excerpt

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