Page 413 - The_story_of_the_C._W._S._The_jubilee_history_of_the_cooperative_wholesale_society,_limited._1863-1913_(IA_storyofcwsjubill00redf) (1)_Neat

The Bank and its Future.
rather confirmed the opinion of the Committees. Although
unconnected with the official co-operative movement, the People's
Bank had received friendly advice from the C.W.S., and its quick
decline emphasised the unreadiness as yet of the general democratic
industrial movement to organise popular savings and meet the needs
of popular credit. Unprepared to take risky steps, the Committee
of the Enghsh C.W.S. " showed willing " toward a very modest
extension when in April, 1910, individual deposits of from £10 and
upwards, and subsequently of £5, were welcomed by the C.W.S.
Bank in those cases where a co-operator already had invested in his
retail society to the full amount permitted by its rules. The balance
due under this head to 2,470 individuals depositing through 221
societies was £182,352 at the end of December, 1912. This is nothing
great, but it marks a step in the direction of a very large province as
yet unoccupied. It may be added that the C.W.S. Bank has branches
at the co-operative district headquarters of Newcastle and London,
and also at Bristol and Cardiff, although it has been proved that its
general business purposes are best served locally by arrangements for
estabhshed banks to act as agents. Until 1898 the department was
controlled by Mr. Abraham Greenwood, the first chairman of the
C.W.S., and from then until 1907 by the late IVIr. J. Holden, of
Middleton. Since then the position has been occupied by Mr.
Goodwin, previously the chief clerk at Balloon Street.
C.W.S. banking, while having a large future before it, is also
substantial in the present. Following after its figures, those of
the C.W.S. export department may come only apologetically.
As yet, so far as sales are concerned, it is only a negligible part of
the C.W.S. trade which is done overseas; and, co-operative dairies
excluded, hardly a fraction of the imports are from co-operative
sources. Nevertheless, the centennial historian may find material
here for an important chapter. Already there are co-operative
wholesale societies estabhshed in France, Belgium, Holland,
Germany, Denmark, Norway, Sweden, Finland, Russia, Austria,
Hungary, Italy, and Switzerland. And the English C.W.S. has a
trading account with most of these, and also has been employed
as buyer, notably of dried fruit for Belgium. At the Newport
Congress of 1908 a special effort was made to bring together the
representatives of European wholesale co-operation. An mteresting
conference was held, as a result of which the C.W.S. commenced
its export department. A capable young Swiss, trained under
Dr. Miiller, the international co-operator, and then employed in the
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