Publisher's Synopsis
Excerpt from Industrial Investment and Emigration: Being a Treatise on Benefit Building Societies, and on the General Principles of Associations for Land Investment and Colonization, With an Appendix on Compound Interest, Tontines, and Life Assurance
A great number of Terminating societies have, consequently, been converted into Permanent associations, and rules and tables have been adopted, by which all previously existing and subsequent members take place as if the new clauses had been in force from the beginning. The legal impediments, which borrowers might have thrown in the way of improvement, have been obviated by due care having been taken that the conversion should proceed in so impartial a manner, that neither their just interests should be disregarded, nor their cause favoured to the disadvantage of the general body.
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