ABSTRACT
IN March, 1845, it was resolved that a license for the sale of tea and tobacco be taken out for the next quarter, in the name of Charles Howarth. This step evidently involved the employment of more capital ; for though the members had increased, funds had not increased sufficiently for this purpose. The members, in public meeting assam bled, were made aware ofthis fact; then, for the second time in the history of the Itochdale Store, do we hear of any member being in possession of more than twopence. One member " promised to find" half-a-crown. "Promised to find'' is the phrase employed on the occasion-it was not "promised to pay, or subscribe, or advance." "Promised to find" probably alluded to the effort required to produce a larger sum than twopence in those parts. Another member "promised to find '' five shillings, and another "promised to find '' a pound. This last announcement was received with no mean surprise, and the rich and reckless man who made the promise was regarded with double veneration, as being at once a millionaire and a martyr. 1 Other members "promised to find" various sums in proportion to their means, and in due time the husbands could get from the Store the solace of tobacco, and wives the solace of tea. At the close of 1845 the store numbered upwards of eighty members, and possessed a capital of £18112s. 3d. 2 At first the Store paid 2! per cent. interest on money borrowed, then 4 per cent. After paying this interest, and the small expenses of management, all profits made were divided among the purchasers at the Store, in proportion to the amount expended ; and the members soon began to appreciate this very palpable and desirable addition to their income. Instead of their getting into debt at the grocer's, the Store was becoming a savings' bank to the members, and saved money for them without trouble to themselves. The weekly receipt for goods sold during the quarter ending December, 1845, averaged upwards of £30.
