Building and loan associations are an outgrowth. in the United States, of the lasi 60 years. There are thousands of thern in existence to-day, and it is hard ly too much to Bay of them that they may become the saviors of civilizatior, They are a quiet forcé, attracting buk little public attention. Yet their iufluence to-day on the social aspecta of our civilization is almost imuieasurable and their financial importanceis tremendous. They are, in the first place homebuilding societies. All over the land are happy homes oc upied by people of moderate means, which have been rendered possible only throuah these cooperative associations. There is another side almost equally important. Such Bocieties are promuters of Huift, superior in many redecís to t.' savingu bank. The incentive tothrifl have betn weakened eince the days of our fathers. The mail savings of those dependant upon salaries go into the savings banks or private banks or are loaned to capitalists, returning a meagre interest to the leuder and helping to swell the fortunes of ihose already wealthy. Or woi e still, the Ravings go into ttpeculative ventures and are swallowed up forever. Life insurance ia another receptacle for the savings of the thrifty, but life insurance, while it has been a blessing to the families of those who have died eaily, bas been almost a li e and death struggle to multitudes of others and a means of loss and waste to many more who have been unable to continue their policies. Persons ofsmall salaries, teachers and ministers for instance, nave needed Bometbing additional to enable them to provide for the future, and such co-operative societies have provided for this need. Investmentsiu suchassociations, in whoee control the investors then receive a voice and whicb. are supervised by the banking department of the State (as is the case in several Statee) furmsh the best possible conditions of security. The small inonthly inveitment counts to the utmost. To start 20 shares of S1OC each requires a first payment of $10 and a inonthly instalment off 15 equal to 50 cents a dáy. In about ten years the investor may with confidence expecl to receive back $2,000 in cash, bib investment being compounded monthly. This sum inveated in partially prepaid stock may be expected to doublé iteell in about seven years, making $2,000 to be received in cash. The first association of the kind in this country was formed in 1831 in Fennsylvani; but only within the last ten years have the full possibilities of such organizitione dawued on the public.