The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-11-05
Resumption in 1879.


mercial has been interviewing some Of the
leading iron men Of Cleveland and
youngstown on the subject Of business
and currency, and here is his report o.
some OF these interViewS:
There were present on our excursion tC
the Mah0ning Valley Il number OF the
prominent manufacturers OF Cleveland
and youngstown, and ! took some pains
to discover their opinions touching the
financial condition Of the country and the
proposed resumption Of specie payments
In iS7O.
In conversation with Mr.. W. G. An.
drews, Of Andrews Bros, Of youngstown,
and Andrews, Hitchcock 4 Co., Of Cleve.
land, prOprietOrs Of two blast furnaces,
and miners Of forty.two thousand bush.
els Of coal per day, Mr.. A. informed me
that he is a Republican, has been one all
his life, and is believer in hard money.
But he says that the bill to resume specie
payments in 1870 is zone OF the most in.
famous ever passed." inasmuch as he be.
lieves 1t to have been passed in the inter.
ests Of the few and contrary to the inter
ests Of the many. He says he believes 1t
to be impossible TO come TO specie pay.
ments in 1879, but that our present bonds
ought to be bought up with a five per cent
bond, payable in gold at some future day,
not too near; greenbaCks to be convert.
bic into these bonds at par and rice versa,
and greenbacks to be received in payment
for customs dues, at least for fifty per cent
OF customs.
Manufacturers here, Mr.. Andrews says,
are almost all Republicans, and while Op.
posed to initiation and in favor Of n gold
basis, think the time has not yet arrived,
and are almost unanimously opposed to
the 1879 Resumption Act.
Mr.. George II. Warrington, OF Cleve.
land, on the contrary, Is q Democrat, but
voted the Republican ticket at the late
election, for the reason that he Is opposed
to imitation. Nevertheless, he expressed
his opinion that the resumptiOn.ln.lS70
idea is the utmost folly" and the bill
ought 10 be repealed.
Mr.. A. i. Cornell, general manager Of
the IlimrOd Furnace Company, having
control OF three furnaces, is Republican,
and does not think that legislation has
much to do with the situation Of business
matters. Does not think that the Repub.
lican party ought to back down 80 soon
from The position they have taken, nj
though he docs not believe there will be
resumption in 1870, as the thing is impoS.
sible.
Mr. John slnmbaugh, part owner Of
five furnaces and several coal mines, has
always been Republican, but voted the
Democratic ticket at the last election, be.
cause he believed the Resumption Bill il
a fraud" which will "do all the possible
damage, and in the end there will be no
resumption" lie says he is still a Re
publican, and docs not wish to see the
Republican party destroyed, as he knows
"it will be II the Resumption Bill is pot
repealed" In addition to financial mat
ters, Mr.. SIambaugh Is we'll posted upon
the subject Of iron.
Mr.. y. G. Baldwin, Treasurer and Gen.
eral Agent Of the Cleveland Rolling Mill
Company employing twenIy'nyIe hunureG
men, says that ne - a EepuDIlcan, anu
wants a harl.money basis, but that re-
In 1879 is impossible; thinks the
proposition 10 substitute silver for frac-
tional currency Han apsntllty. ne says
mat Inc country around oleveIanl Is zen,
eetalIy pretty prosperous, an" 'ha' 'neFe
nave Deeh very le" i"Il"feS'
Mr. f. G. Pechin, manager OF the Dun