, 1876-10-06

THE CHICAGO TRIBUNE somo time since
presented proofs, which have mover beon ro-
futed, showing tho record Of TnpEN as
manufacturer Of bogus currency, with which
he swintlled tho Michigan iron-miners. It
was shown that three Of tho Luke Superior
iron companies, in which ho was interested,
issued over Ave millions OF this shiuplaster
currency, which tho miness were compelled
to accept in full payment Of their services,
and, having rocaiyod 1t, woro then CON-
pclled to mako up for It's deprecated
value by paying higher priceB for
all articles Of consumption TINT they pur-
chased 1t wns furthermore shown that the
Treasury Of tho United stataB was dcfrauded
out Of largo sums Of money, probably mill
ion OF dollars, by ovading tho Government
tax upon these spurious notoe. An oyer-
wlelming confirmation Of tho statements Of
The TRIBUNE now comes in tho Now York
Times, which, after making an independent
investigation Of It's own from an entirely dif-
feront standpoint, nrrives ut precisely the
same results. Aftor consulting tho reports
Of the revenue agents male to the Commits
sioner Of Internal Revenue in 1874, 1t finds
that tho Now York Iron-A1ine Company Of
Marquette paid out $4,000 of this bogus
money; the Michigan Iron Company Of
Marquette, $b81, ,54G; and tho Iron Cliffs
Company Of Nogaunoe, $4,652, ,0oi; in oil,
45,25a,G40; that TuDEs was President Of
tho first Company aud Director and part
owner Of tho other two; and that, OF tho
amount Of tax due the Government ($1, ,023,-
567.17) by these threo Companies, but worry
small amount was over paid. The report Of
tho Special Royenuo Agent, WILLIAM A.
GAvETr, sent to Commissioner DOUGLASS in
October, 1874, eays:
Thcse Companies nro amply able to pay every
dollar OF nald taz and can pay 1t without material
injury to thelr business or credit. They Issued
this money and forced tho hard.working miners to
take 1t as money In payment for their work.
The merchants aro Obliged 10 take It for goods,
as the Companies Ind arrangements at some ono
bank to redeem thelE money and return It to theu,
aud in many Instances tho Company paid 1t out again
and again. Some Of thcso Companies have storch,
and all or nearly all "ison and copper money" was
perfectly good Mt these stores and 10 became good
all through Tint section, not only at banks but on
railroads, at hotels, and, In fact and has been
for yeara the circulating medium of Upper Mich
tgan: gas.. +, :. .,.. ..o,o
lat!on OF millions upon millions Of dollars without
having to pay interest and without making my de-
poat Of coin, bonds, anything Of value to nuure
tho redemption Of their money; still tho money
would buy oil that my money could procure, but
when tho poor miner wanted to 60 to another State,
thcn he folt tho hardship Of having to pay rETsn
WHiTs, TlLDEs's pnrtnvr, or soms other banker,
largo discount In order 10 gut national currency
for "i,on and copper monpy.''
Those aro substantially the facts which
were discovered by the correspondent Of Tue
TRIBUNE who WIS sent to investigate H.
DENs bogus-curronoy operations. The state
mcnts OF the New York Times aro not only
interesting In tho way Of confirmation, hut
arc Of special weight in condclnning this
sham reformer, because they swoopingly re-
futo the refutationa made by his frionds after
tho expose published by THE TRIBUNE.