Samuel Smiles：Thrift, Excerpt 232

Land and Building Societies constitute another form of co-operation. These are chiefly supported by the minor middle-class men, but also to a considerable extent by the skilled and thrifty working-class men. By their means portions of land are bought, and dwelling-houses are built. By means of a building society, a person who desires to possess a house enters the society as a member, and instead of paying his rent to the landlord, pays his subscriptions and interest to a committee of his friends; and in course of time, when his subscriptions are paid up, the house is purchased, and conveyed to him by the society. The building-society is thus a savings bank, where money accumulates for a certain purpose. But even those who do not purchase a house, receive a dividend and bonus on their shares, which sometimes amounts to a considerable sum.

Source： https://www.gutenberg.org/ebooks/14418
Locator：Excerpt 232 · Verified：2026-10-19 · Verification：Short excerpt

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