St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-27
CITY LOAN OFFICE.
Such the Chamber OF Commerce
Votes For. :.

Such the Chamber OF Commerce
Votes For. =
Important action was taken yesterday
by the st. Paul Chamber of Commerce.,
looking to the organization of an insti-z
tuition for the loan of small sumSlt to
spersons worthy, on personal security, at
lawful rates of interest A committee
consisting of Messrs, Tighe, Hodgson. &
Murray. Middleton and Auerbach we're,
appointed to consider the subject. The
question was raised by the introduction
of resolution by MIR. Tighe, setting
forth that no facilities exist in the city
whereby persons in need, other than
those who have credit at the banks, can
secure temporary accommodations even
on unquestioned security. except at
usurious and oppressive rates, and re-
solving that the chamber. through its
appropriate standing committee. Or
through special committee Of five to
be appointed by the president for that
purpose, inquire Into the feasibility of
establishing in st. Paul an institution
which shall not as charity but as
business enterprise loan to persons
WOi lily vi CkCult VII pol SOudt
security for reasonable and legal COM
pensatlon.
The resolution was adopted, and the
committee appointed.
Mr.. Smalley introduced a resolution
that was adopted looking to reduction
of the gas charges to correspond with
the general reduction in all other lines.
He spoke of the reduced cost through
the nse of water. and said the price in
Chicago was now but so cents. Mr..
Suydam suggested that now is the time
for the city to buy the gas plant, and it
was conceded that the scope of the res
olution fairly embraced that subject.
The matter was referred TO the mer-
camille committee, of which Mr. Moves
is chairman.
In response to suggestion from Gen.
Andrews. Col. Clough, who has just re-
turned from five weeks absence in the
East, said the impression was general
that the worst ot.the period OF deDres-
sion was over, but that the restoration
would not be rapid in any event, and 4
would revive largely as result of the
increased disposition and capacity on
llle part Oh TIE WtSt W Duy. L lie w est
is a d-producing region, and its prod
ucts are always in demand. The loss of
confidence has been so general and so
complete that it will take time under
the most favorable conditions 10 restore
it. People have settled down to the
conviction that the only way to become
rich is through working and saving.
He had conversations with leading SEN
ators of both parties who felt certain
that the tariff question could not be dis
posed of earlier than June or July.
Gen. Andrews offered resolution de-
claring il to be the sense of the chamber
that the business of the county de-
manded an early settlement of the tariff
question, and urging prompt action on
the part Of congress. The preamble
declared the tariff question to be oneiof
the principal causes of the depression.
Mr.. Murray opposed because he did not
so regard it. Mr.. Lightner opposed be-
cause he believed it was 10 the interest
of the country to defeat the Wilson
bill. Gen. Sanborn favored the resofu-
ton. Free trade was thing of the
past. The resolution was adopted.
MeSsrS. Fairchild, Cass Gilbert. Light
ner, Murray, Tighe and Wolterstoff
vntIlp no !