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Rh that every man should contribute his fair share of labour, and receive only his due proportion of profit. The complete system of representation rendered it impossible that any despotism could be established.

Ten per cent, more ,of dividends the second class received than the first, and the third than the second.

Those whose accounts were in credit might draw half their share of dividends in cash, or all in coupons.

These latter had ten per cent, larger purchasing power at any of the stores or settlements, than cash. So men were encouraged to leave their capital invested in the vast co-operative enterprise that was beginning to attract world-wide attention.

For the first time the principle of co-operation on a large scale was being applied, by the same persons, to both production and distribution.

Two sheep-farming communities, associated with the earlier ones, took over the remainder of the doctor's station, together with the Selectors' Plains from which Kokiana folk had fled. The Hon. Herbert Fitzhubert was glad to sell out to the "Co-ops.," as they were called, who speedily secured the intervening country.

No fires devasted the country, no dams were cut. Hands were not called out, or eyes of the country "selected" by would-be black-mailers. All, from manager to "tar-boy," had regard to their own interests, since all had their due place in one of the three classes of industry.

In the ranges were mines that, owing to the demand for high wages enforced by frequent strikes, had long been worked at a loss; these lines of mines the "Co-ops." by degrees purchased. The labour difficulty vanished. The ore was won for half the cost its mining entailed before. Those who laboured received