CO-OPERATION.

Waikato Times, Volume XXXI, Issue 2539, 18 October 1888, Page 3

CO-OPERATION.

Sir,— Your leader in Tuesday's issue, re co-operation and the leasing of tho Ngaruawahia mills, contains valuable and sensible suggestions worthy of careful consideration, but I fear you strike upon a tuneless harp. When yinl address us farmers upon the subject of co-operation or companies, tho old axiom, " that unity is strength" is doubtless true enough in the abstract, but e.x|iurience has limply shown, tlint it will not bear practical applications in this part (if tho colony. Men like myself, and there are hundreds such in Waikato, wish to pay (though wo may bo somewhat longwinded about it) 20s in I lie pound, and this can only be done by carefully avoiding all companies and associations, for, from our highest financial institution, in which we tire tnld, the shareholders have lost £1(10,000 through advances made to the directors, down through a long list of companies and associations, to our own "co-operative," where the whole of the sharehodeis money, some £10,000 was (to put it courteously) lost in the most orthodox fashion, the same lead ing characteristics are exhibited, namely a total disregard, on the part of those high in power, of the sacred trust reposed in them. Tho result has been, to inspire in us, one and all, so far us any combined undertaking is concerned, » feeling of profound distrust. New Zealand must progress and ultimately prosper. No country eo richly endowed by Nature, and so suited for maintaining a large population can do otherwise ; but it will be but elmvly while our public men, politically and commercially, use their positions for tho ignoble purpose of obtaining, directly or indirectly, advantages for themselves. When, and the time will doubtless come that we have a class of leaders possessed, so to speak, of a head of business and a soul of honour, such practical suggestions as that thrown out by you will be eagerly and promptly acted upon, for we will feel that our hard-earned money is safe, and not as we have so frequently experienced, collected with considerable difficulty, only to be thrown into a common sink. —Yours. &c, E. C. Shephuud.