Question

Which one of the following is NOT part of the Rochdale Principles?

• A. Open membership
• B. Democratic control (one member, one vote)
• C. Unlimited interest on capital
• D. Promotion of education

Answer 1

Answer:

C. Unlimited interest on capital

Rochdale Equitable Pioneers' Co-operative Society (REPS)

• Founded: 15 August 1844

• Started Business: 21 December 1844

• Place: Toad Lane, Rochdale, near Manchester, England

• Registered under: Friendly Societies Act, 1793

• Later gives legal recognition by: Industrial and Provident Societies Act, 1852

• Type: First successful consumer co-operative in the world

• Rochdale Pioneers principles becomes the basis for ICA principles in the year 1937.

Founders:

• Formed by 28 flannel weavers, including one woman (Antutale)

• Each contributed £1

• Met in 1843 in a chapel hall to plan the society

Key Leaders:

• President: Charles Howarth (also known as the Constitution Maker)

• Secretary: James Daly

• Trade Union Leader: Charles Howarth (organized the Rochdale Weavers’ Union)

Books about Rochdale

• "History of Rochdale Pioneers" – George Jacob Holyoake

• "Weavers of Dreams" – David J. Thomson

• "A Century of Co-operation in Rochdale" – Henry Brown

Also Known As:

• Toad Lane Store-Because situated in No:2 Toadlane, Manchestor North Western part of England

• REPS (short for Rochdale Equitable Pioneers' Society).

• Members of Roachdale Pioneers worked as salesman.

Rochdale Principles (1860)

• These became the foundation of the modern cooperative movement and later inspired ICA principles (1937)

• Open membership

• Democratic control (one member, one vote)

• Limited interest on capital

• Patronage dividend (profits shared based on purchases)

• Cash trading only (no credit)

• Political and religious neutrality

• Promotion of education

• Pure and unadulterated goods