 Macune served as business manager of the enterprise.Although Macune was opposed to the idea, the board of directors of the Exchange decided to construct a massive new four story building as substantial cost, which resulted in severe cash-flow difficulties which ultimately resulted in the Exchange's termination in December 1889.In March 1889 Macune made use of a $10,000 loan from a wealthy Texas Alliance member and launched a new publication, "The National Economist," in Washington, D.C.