Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-02-13

! holders would cause demand for larger
| loans than are now made, and there would
be little doubt but our funds would find a
demand and profitable use equal to their
supply. With population of 10000
and $4,000 or 10000 families, with
as many more clerks, statesmen,
salaried men and others, who live by
monthly earnings, it should not be difficult
to organize an association with 1000 mem
bers and an income of $4,000 per month,
increasing the amount with every year by
the issue of new series of'stock.
THE ASSOCIATIONS,
in this country and England have long
since passed through their early and crude
efforts to obtain a sound financial status.
Many of them failed in their beginning
tor want of experience and correct fnan-
cial principles. But their failures and
mistakes became their best educators, and
now in England they are under the charge
of actuaries just as life in
surance companies are, and their
tables of annuities, compound interest
endowment funds, etc, are as scientifically
arranged as those of life insurance. In
this country a volume of law reports is al
ready published with decisions on build
ing associations alone, which decisions
chronicle their early mistakes, and show
how they have been educated by expert
ence. With England and Americas expe-
rience of half century, there is talent
enough in st. Paul and in this chamber,
with little patient examination, to organ
ize financial organization of the char
acter here indicated which will supply a
want long felt, and prove blessing to the
community of greater value to the masses
of the people and the city at large than
any of its soundest and most powerful
banks.
THE BoABD OF CONTROL.
Mr.William Lee stated that through some
means bill had been got through the
legislature and had become a law per
petuating the present board of control He
regarded this as unusual and very strange
He thought it very curious that the Ramsey
county delegation could not allow the tax
payers of St.Paul to know about the passage
of such bill. He was of the opinion that
the people who pay the taxes had right
to know.
THE COURT HOUSE.
ILL., u4CO1uI1S IOdO bu0 lOllOR1ug.
Resoloed, That in the opinion of this
chamber it is inexpedient to commence
the building of court house in st. Paul
during the present year; that the increase
of our taxes, amounting to so per cent.
during the past year, admonishes us that
prudence and economy should characterize
our financial management, and no increase
of debt or taxes be incurred except for in
dispensable necessities.
RESOLVED, That our representatives in the
legislature are requested to oppose all leg
islation looking to any action to build
court house sooner than the year 1885, &C
cording to the distinct understanding of
the tax payers of this city, as heretofore
expressed.
Mr.. Oppenheim hoped that
these resolutions would be everlastingly
sat down upon. He was of the opinion
that We did not want any more additions
to the old building but new structure.
We want good respectable court house,
and it would make no difference to the tax
payers whether they began to pay for it a
year or two earlier or year or two later.
They would never know the difference.
Mr.. McClung maintained that it was a
bad time to begin to build a court house
when lumber and all other materials were
so high as they now are. 1t would be bet
ter to wait till building materials got low
lower.
Mr.. hurry argued in favor of construct
ing court house. 1t
would not be necessary to
commence to build it this year, and it
would not be finished probably for several
years.
DR.. Day fired back at McClung by tell
ing him that several years ago when there
was no building, when lumber and build
ing material were cheap, he, McClung,
then opposed the building of a court
house, and helped to defeat it. He op-
posed it then and he opposes it now.
The subject was finally laid over.
SILVER COINAGE.
Mr.. D. r. Neyes called the attention of
the chamber to the coinage of silver dol
lars, and really woke up the chamber
quite good deal. He said that up to No
vember last $128,000,OOO of silver dollars
had been coined, and that $93,OOO,OOO of
these still remain in the vaults of the treas
ury. He asked the chamber to join with
the New York chamber of commerce in
asking congress to limit the coinage to the
requirements of the people.
Mr.. Oppenheim mounted this prop
osition very quickly, and asked
that it be laid over for one
week. In this request he was joined by Dr.
Day and several others, and Mr.. Open
helms motion prevailed, and the chamber
adjourned.
THE COURTS.
U. s. Circuit Court,