The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1876-07-20


all issued this paper 1'here were fifty
eight companie., cnsage. IL mauut.,r-
turing the currency the retutns
from six of which are thus stated:
AMOUNT ISSUED
Calumet .............. 80 So, 500, coo. 90
Iron Cliff (Tilden's) ......- 4 ,552, ,o94 0O
New York (rilden's) -. 2,ll3, ,666 ,66
Quincy ....................s.... ], i3S, 5000
Central ................. 2,770, 453.5S
Ph;enlX-.......-. 3,2l6, Ash Us
Total. $40 ,9l0 99S. 81
The whole amount ofthe currency is
sued was over 500 ,000, 900 and it had an
exclusive run from 1868 until 1871,
when some persons We're indicted for
cOunterfeiting it and the court dis
charged the prisoners on the ground
that the currency itself was fraudulent
and illegal and il was no CT ine tu
counterfeit it. At the same time, the
revenue officers began to demand the
internal revenue tax and began to take
evidence as to the amount in circula-
ton. The tax was ten per cent, and
for twelve years amounted to ut least
SIT, 0,000, 900. But by some secret man
ipuiation bill was smuggled through
CWigie ess on Che night of March Sd
1873, remitting the tax, except for the
last year. Here was the apostle OF
hard money talking and writing to the
people upon the destructive demorll-
izatiOn of paper money and pointing
out the glories of hard money, while
for twelve years he was running two
mills for the manufacture of rag money
and palming il Off on the miners as
better than gold. Up in Michigan he
took the broad ground that the paper
issued by himself was as good. if not
better, than the greenbacks. Sam also
had several stores in the neighborhood
of his miIieS, where groceries and dry
goods and q variety of other articles
We're for sale, and Sam made his notes
legal tender in payment for these goods
His notes being legal tender only at
his own stores, the unfortunate holders
had to make ali their. purchases from
Tilden, WHO thus pOcKeted handsome
profit on the sale of his wares. And
this is the reiormer. la@ h.
The substance OF the above was
copied into the Wheeling IETEI,nI-
GENCER and comments. We're added.
The article ing To the notice of Mr..
William l.. Hearn, one of The officers
of the Riverside iron works, OF that
city, he at once wrote letter of inquiry
to Cleveland, Brown Il CO., of this city,
who, he knew had for years been
age IS for the New York iron mine OF
which Governor Tilden is principal
owner Mr. lIearn wrote :ls follows
f-, RIVERSIDE IRON Monks,
ss. WHEELING, w. VA, july. ., 1876
Messrs. Cieccl0nd Bro,ca Dc Co.,
Cleeeland. iOhio: =
GENTS - desire II caiI Your atteli-
ton to the incltsed Slip whictappeared
i'll the editorial column iOt She lnteili
gencer this morn ny. dn not know
what position YOU occupy rii'ic:hly,
but feel sure that iii t.ir stertut oi
truth and far ii, ,iiiig You " ! II u re
fuse aid in giving circuIatioi . Whal
are the facts i'll rGitt'oii to :. Sian
deroas article. Oar ient., x. w
Campbell, I,sq. whom yu Know
personality, by Willing iiiuo ed iriaily
has made himself l conceive, ftSpon-
sibie for such statements ;ts that the
combined ore colnpaHitss OF the Lake
Superior region issued ONE HUNDRED
MILLIONS paper designed for aii,t Used
for currencS, and that the New York
mine, of WAil>.. "GoN2rnor lliaen Il
principal Ow nei, issued Wo millions
one hun dreu and thirteen Thousand
SlA ana SIAlf OO- SlAIS
cents, &c., sc. Whine / am sure OF the
immense, eXaggerations contained iii
such statement as those. | am not III
possession of tia' upon which TO write
IA refutation of the saunders. fsssq
la MEsSRS. CLEVELAND. BROWN SEQ.
replied as below. The members of tie
firm are, and long have been, well
Know and highly respected business
men and citizens. Politicallysthey are
epublicans,l as will be seen by perus-a
ing the letter, SO that party Interest
cannot be attributed to them in, their
straightforward and absolutely
convincing, reply, which completely
The scandalous attack on Gov
TiIden above referred. To, Their letter
reads as follows t. f,. .t.f
Nos. p TO 81 MERWIN STREET, !
CLEvELAND, o., July Z, 1916. !
To William L. Icdtn, Esq, HAecling
Uest Tirqinin.a ,tta $3.50 al
DEAR SIR :--zYour estee med favor of
the 9th inst. just received, calling at
tention to the statement going the
rounds ofathe press in reference to the
of MILLIONS of dollars
ofunlawful paper money by the differ
nnt Lake Superior iron mines and es-
peciatIy two mines in which Hon.
j Tilden is understood to be
as set forth in the article or
statement referred to. The figures
given and the assumptions matte are
3 SO AT VARIANCE WITH THE FACTS,
EASILY susceptible of proof, that wei
should have supposed The a,ticle car-
ried its own antiiote7 with it.. OF
course, in saying this, we refer to the
mine of which we are the agents and
he period SINCE we became SO, namely
n 1868. 'st''.' 9" p" -'-'ds o.. h&h i'a1
The O-called .'currency' is i7af I'D.
NOTHING ELSE THAN A DRAFT,
IL order NJ on Cleveland, Brown,& Co. |
o pay a certain amount OF money on /
or "sixty day satter sight"
II the following form i1. .aE
$500 .sas New York TRoN NINE J. |
.... 54utls ~ MAKQUTTE, Mich, Hi
Decem Der Il, 1876. J !
Sixty days aiter sight '.7'2a'f'
{ta1 tE# sIalH 7d biPay to the order
# G. p. Pease, Observation-Disclosures bearer
five Dollars, value received, and charge
O account OF NEW YoRk IRON hIINE)t
TSignedl ~. sa WDI.9N etsaore
Messrs. Cleve' nd, BroWn * Co ed
Cleveland, OHIO.
r untei gned] "'4'' s'a 's'
-1 q. w. SMITH, Secret tary.
Our books show that ofS51, 900 issued
} the creditors of the mine at Ishpe-
hing during the years of 1859 aud 1870
nd S35, ,0CJ issued during the years
f 1873 and 1874 there were presented
nd paid by us AS follows: In 1863,
IL ,S}3 1870, Sll 500; 1871, 500 1872,
So; 1878, SIG. 126; 18Th. Ses,20o; 1873,
IS; and making a total of exactly
S, $40 paid of ssi0, 900 s,iTawn during
lie seven years named. Ti,is c,vers
| the SO-c;i lei ur.ir-nl one v1,- ON