Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-04-22

Pursuant TO the announcement made by
handbills circulated throughout the various
Departments ofthe Government within the past
week. announcing that Z" Hon" Alexander
Delmar, Director of the Bureau Of Statistics
would address the Government Clerks Asso.
citation on the subject of organizing a loan and
deposit branch of the association about forty
clerks assembled at Irving Hall, on ID street
between 9th and 9TH, last evening.
The meeting was called 70 order by D. NJ
Kelsey, ESQ., president Of the association who
stated the many benefits to be derived from q
loan association, and hoped II would be sue
cessful. He expressed regret that so few OF the
clerks were members of the association, and at
tributed the fact ~ their want of money, He
thought there " as no doubt that the twenty per
cent. bill would socn pass. As TO this public
me ting, it was for the purpose of devising, if
possible, plans TO form an association to pro-
tect the clerks from :" accommodation" offices,
where they are compelled TO paw from five TO
ten per cent. per month for money; thus de-
stToying their credit, usefulness efficiency and
happiness, and becoming SO deeply IN vol we'd in
debt as to become worse than ban krupts. He
knew one industrious, competent and honest
clerk IN one OF the Departments who, on &C.
count Of sickness in his family, was compelled
tive months on $50. At the end Of that period
1t amounted to 1855; the interest alone beng
sufhcient to pay, at bankable rates compound
"a every ninety days, for the use Of sI,25o for
the same time. He thought by cooperation
This could all be ayerted, and an association
formed which would be Of great benefit to all
enable
az legal interest.
j. M. Blanchard thought there was no place
like Washingtonfor Cooperative Associations,
and spoke of the many clerks who were often
tunes compelled to borrow money at enormous
rates of interest.
Mr.. Kelsey introduced "Hon.~ Alexander
Delmar, Director of the Bureau of Statistics,
treasury Department, who said credit associa.
tons had always been a hobby with him. He
then spoke Of such Associations i'm Europe and
read some four or five pages of figures, show
ing the progress of such associations in Paris
Brussels, and other places in Europe. Savings
banks had been organi Zed there controlled by
working men, and capitalists were not allowed
IN them The speaker was here interrupted by
the entrance of Prof. j. III. h. Wilcox, of Mr.
Delmar's Statistical staff, who seated himself
near the water bucket, and drank many times
with great copiousness. =
Mr.. Demar said he had translated the con-
sitution OF a cooperative or credit association
which existed in Brussels, and he proceeded to
read the same, the object of which was by
system of discounts, 10 allow the members 70
borrow such amount of capital was war;
ranted by their solvency and social standing.
Every member to participate in the profits and
losses OF the Association in proportion 10 the
amount of stock one third of the interest to be
retained annually by the Association and
placed to the credit of the owner, and any re-
urIng member not to be allowed to draw his
money until six months after his retirement
Mr.: Brady moved that a committee of five be
appointed to submit plan 10 form loan asso.
citation, which motion was adopted, and the
~
L. Brady, j. W. Jayne, W. Duane Wilson, and
5. L. Pearson. On motion of Mr. Blanchard
Col. Z. NJ, Whitaker and j. w. Hogg, Esq,
were added to the committee
Mr. Ieimar, who is dapper sprghtly little
parsonage here took an deliberately polite leave
OF the assemblage, and skipped out OF the room
with the grace OF dancing-master. Prof Will
cox. his friend and admirer, followed him with
great alacrity. The professor is big headed,
top-heavy young gentleman, with immense
chronological Developments bordering on rick
etts: and as he numbered preeipitately down the
steep stairway upon the heels of his illustrious
chief, the latter, in apparent dread Of a Will
cox an avalan che. motioned authorItatiyeIy to
his faithful Sancho to keep some PAGES in the
rear. This done, the remarkable couple safely
gained the street. and the Government Clerks
Association resumed their business.
Mr.. Blanchard addressed the meeting, stating
that clerks were paying twenty per cent. more
for what they consumed than they had any
right 20 pay, and illustrating how, by combina-
ton and cooperation, supplies could be pro-
cured TO save that amount. Adjourned.