One of the first all-estates consumer societies in Russia was organized in St. Petersburg. This capital cooperative society called "Frugality" emerged in 1865 (its charter was approved in July 1866). Not yet having its own shop, at the beginning of its existence it used, like other early consumer societies, a stamp (discount) trading system.
The purpose of the organization, as stated in the charter of the "Frugality" society, was: "To unite unproductively small capitals into one for the wholesale purchase of food supplies and basic necessities, and thereby to enable members to obtain everything they need at the lowest possible prices, and from imperceptibly small contributions by members to form small amounts of capital."
Shareholders bought special stamps in the consumer society for cash, the number of which was entered in a member's account book. With these stamps they paid for goods taken from the establishments of private merchants with whom the cooperative's board had made prior arrangements. The merchants presented the stamps to the consumer society and received money for their goods issued to the society's shareholders, but minus the agreed discount. The total amount of discounts, after covering the expenses of the consumer society and allocations to its reserve capital, was distributed among the shareholders: a small part according to shares, the main part according to the number of stamps purchased, and therefore according to the amount of goods taken.
In 1868 the society had 2,300 shareholders, and its turnover amounted to 223 thousand rubles, which for those times was a substantial sum. The charter of the consumer society provided for unlimited open membership, a 10-ruble share with installment payments, cash trade, distribution of most profits according to the amount of goods taken, and so on.
However, insufficient material interest on the part of the main body of shareholders in the economic success of the consumer society led its affairs to complete disarray. The once famous "Frugality" society was liquidated in 1874.
Tavern token 1 Kopeck.
Consumer Cooperative "Thriftiness". Moscow.
