George Sanborn rose and read his report, which was accepted.

“Are any committees prepared to report?” asked the President.

The Finance Committee reported through its chairman, recommending that the fee for admission be established at one dollar, and that each member be assessed twenty-five cents monthly.

“Mr. President,” said Fitzgerald Fletcher, rising to his feet, “I would like to say a word in reference to this report.”

“Mr. Fletcher has the floor.”

“Then, Mr. President, I wish to say that I disagree with the Report of the Committee.  I think a dollar is altogether too small.  It ought to be at least three dollars, and I myself should prefer five dollars.  Again, sir, the Committee has recommended for the monthly assessment the ridiculously small sum of twenty-five cents.  I think it ought to be a dollar.”

“Mr. President, I should like to ask the gentleman his reason,” said Henry Fairbanks, Chairman of the Finance Committee.  “Why should we tax the members to such an extent, when the sums reported are sufficient to defray the ordinary expenses of the Society, and to leave a small surplus besides?”

“Mr. President,” returned Fletcher, “I will answer the gentleman.  We don’t want to throw open the Society to every one that can raise a dollar.  We want to have an exclusive society.”

“Mr. President,” said Oscar Vincent, rising, “I should like to ask the gentleman for how many he is speaking.  He certainly is not speaking for me.  I don’t want the Society to be exclusive.  There are not many who can afford to pay the exorbitant sums which he desires fixed for admission fee and for monthly assessments, and I for one am not willing to exclude any good fellow who desires to become one of us, but does not boast as heavy a purse as the gentleman who has just spoken.”

These remarks of Oscar were greeted with applause, general enough to show that the opinions of nearly all were with him.

“Mr. President,” said Henry Fairbanks, “though I am opposed to the gentleman’s suggestion, (does he offer it as an amendment?) I have no possible objection to his individually paying the increased rates which he recommends, and I am sure the Treasurer will gladly receive them.”

Laughter and applause greeted this hit, and Fletcher once more arose, somewhat vexed at the reception of his suggestion.

“I don’t choose—­” he commenced.

“The gentleman will address the chair,” interrupted the President.

“Mr. President, I don’t choose to pay more than the other members, though I can do it without inconvenience.  But, as I said, I don’t believe in being too democratic.  I am not in favor of admitting anybody and everybody into the Society.”

“Mr. President,” said James Hooper, “I congratulate the gentleman on the flourishing state of his finances.  For my own part, I am not ashamed to say that I cannot afford to pay a dollar a month assessment, and, were it required, I should be obliged to offer my resignation.”