Our association is, in its organized business capacity, a person, and, as such, it simply uses the scrip as a medium of exchange within itself, for such articles only as it produces. Our main object in making our bills payable only to employees and stockholders, was this: We commenced with but little capital, the people being, with scarcely an exception, very poor, some of them almost destitute of means of living. We succeeded, after many years of toil and perseverance to establish a tannery, boot and shoe shop, woolen factory, and afterwards various additional minor branches of industry were added, and have been fourteen years reaching our present financial condition. It required nearly as much outlay of cash to operate those main branches of industry as all the other departments together, which made their products much nearer cash value than those from the other departments. We have not been able to make leather for sale, but are obliged to purchase more or less of imported, to supply our shoe department. From these departments we have produced but very little more than is required by the members and employees of our association, who number nearly fifteen hundred. Before the tax law was so amended as to affect co-operations, we issued to employees and stockholders unrestricted bills, but found serious trouble by persons not interested in our institution receiving them, and requiring payment in the articles that were nearest to cash, and which we could scarcely supply ourselves. People abroad knew that Brigham City Mercantile and Manufacturing Association had a tannery, boot and shoe shop, and woolen factory, and innocently imagined that when they had a demand on our institution it meant payment in any articles from any one of those departments they wished; and thought they were greatly wronged if they were refused. To remedy this difficulty we called in all that class of bills--determined in future to keep them at home; therefore, when we commenced the new issue we printed upon the face, "Good only to employees and stockholders." These bills are, among us, called "Home D." _i. e., good for articles made in our home departments_. There are forty of these departments, each having a foreman, who reports the time of the employees, weekly, to the secretary, who pays them in these Home Ds. for five-sixths of their labor, and one-sixth in the scrip representing merchandise, samples of which we enclose; and refer you, also, to the petition presented to the commissioner. The secretary, superintendent and every officer and agent of the association are strictly forbidden to dispose of these Home D. bills to any other than employees and stockholders, or to receive them from any other party. I think this rule has been observed as to paying out, but in some isolated cases, when persons, through ignorance or misrepresentation, have been imposed upon, in taking our bills, they have been received and redeemed, but only through protest and compromise.