I promise that I will not employ those outside of the society to perform any labor for me if I can find what I need in the society and that whenever possible I will buy from the members of the society.
Any member breaking these rules also agrees to forfeit all claim on said society. Members may sell their shares to other members, but cannot withdraw them from the society, because each share represents the strength in the society’s structure, in the same way as the bricks in the wall of a building. If bricks were taken out of the building it would soon fall. The same with the shares; they must remain intact because the money and labor that these shares represent was used to build the members’ home, to ensure employment and a pension when too old to labor.
Each member pays $1.00 per year for general expenses, then agrees to buy at least one permanent share each year at $12.00 per share. Permanent shares represent all buildings on the land belonging to the Colony as well as improvements. When a member has sufficient permanent shares to entitle him to live in an apartment building or hotel he is exempt from paying taxes or rent, and when he has sufficient consumable shares to justify the society in awarding him a pension he will be independent for life.
All money and labor is invested in permanent shares to buy materials, to build factories, hotels, apartment houses, land or machinery that will be permanent, fruit trees, etc. Members who had homes of their own could buy sufficient consumable shares to ensure them an income. Then as many permanent shares as would be required to allow them to live in an apartment house. It wouldn’t exempt them from paying the regular $1.00 per year for general expenses except in cases where the whole amount had been paid to insure them an income for life.
Scrip was issued with the consent of the officers in charge and only issued to the amount of their security. The signature of the president, secretary and cashier was necessary to make it legal.
It was issued for the purpose of exchange among members. It paid for any kind of labor done for the society, the president having power to issue sufficient to satisfy the demand of its members.
One benefit of scrip is that it cannot be stolen nor can it be issued by any one except those appointed by the society and it must be for value received.
As nearly all members lived in the city and were paid in coin for their labor in the beginning of the Colony, money was as plentiful as scrip and could always be exchanged. This society having its central Colony within thirty miles of the city, made it easier to exchange either its scrip or produce. The city members had money to buy either shares or produce. The manager of the Colony having the land secured by the membership fee each year could secure all labor by issuing scrip. He could buy from the farmers in large quantities at wholesale the first year or until he was able to grow the food that the members needed; he could then sell to them in exchange for the scrip he issued for their labor, at retail market prices if he employed them. If he sold to the city members they would have money to pay; this money he could use to buy from outside dealers such articles as the Colony could not produce at first.
Special apartments were used for the aged. They were quiet and restful. No children were allowed in the buildings. There were several parlors where they could meet each other when socially inclined, but their own rooms were private. In the beginning of the society some of these old people contributed the best of their furniture towards fitting up these parlors. The society bought them, allowing their value to go on their shares, besides they contributed their tables and chairs for the dining room. Elevators were used on all the floors so as to make it easy for them to go up and down. Separate sections were used for lone men and women. The men’s parlors were fitted up so they could smoke or rest, read, or talk and make themselves comfortable in their own way, only men were allowed in them. The women’s apartments were separated from the men’s by those used by the aged married couples, the married people using those situated in the center.
As the buildings were built the length of the street, this was an easy matter. The public dining room was all in one, but each family or group of friends used tables by themselves. Their own homes and freedom to live as they wished was the object the majority had in view.