The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-07-11

SOME days ago the Chicago irtouae
III We mistake nOt) gave list4of the
amount Of money issued by various iron
mines in the Lake Superior regions,
amounting in the aggregate TO many mil
lions of dollars. It was specified in, the
article that two ofthese mines, the "olif"
and the "New York." in which Mr.. Til.
den is largely interested, had issued checks
or drafts in the similitude Of money for
some $6,OOO,OO0, and that the United
States revenue officers had returned said
mines to the government as corporations
engaged in the issue OF money without
authority Of law, and especially as
having failed to pay the tax on said
money which is impOsed.by law on all
issues other than those Of National Banks.
II was further stated that parties who had
counterfeitcd some Of this Lake Superior
money had been discharged by the courts
on the ground that the money being itself
illegal, parties issuing it had no redress
against eounterfeiteFs, And, further, it
was likewise stated that bill had been
passed through Congress RENTING the
tax liable 10 be imposed on this money,
save as to tire tax due on the last year Of
its issue.
Mr.. Wm. L.. Hearn, Of this city, seeing
this statement in print, wrote to Measrs
Cleveland, Brown 4 Co., OF Cleveland,
Ohio, agent for the sale Of "New York"
ore, calling their attention to IT, and re-
questing to be informed ms to the facts.
Those gentlemen under date Of July 7th
wrote 10 him as follows:
Your esteemed favor Of. the 9th inst.
Just received, calling our attention TO the
statement going the rounds Of the press,
in reference to the alleged issuing OF mil.
lions Of dollars Of unlawful paper money
by the different Lake Superior iron mines
and especially two mines in which the
Hon. Samuel J. Tilden is understood to
be interested, rs set forth in the article
or statement referred to.
The figures given and the assumptions
made are no at variance with the facts
easily susceptible Of proof, that we should
have supposed the article carried it,
own antidote with ii. OF course, In say
ing this, We refer 10 the mine Of which
we are the agents, and the period since
we became 10, namely, early in 1868.
The so.calied currency" is nothing
else than draft or order upon Cleye'
land, Brown & Co. to pay certain
amount Of money on presentation OF
Sixty days after sight" in the following
form:
$500 INV YORK Iron MINE, \
MARQUETTE, MIcIE,
December q, 1868.
Fay 10 the order Of C. P.
Pcasc, Superintendent or bearer, Five Dollars val
NC received, and charge 10 accounted
NEW YORK IRON MINE,
Ms ssascei Cleveland, Brown Co.. :. . "A'.O4A
(COuutersIgned) G.. sNIru, Secretary
Our books show that Of S55,0O0 issued
10 creditors Of the Mine at 1shpeming
during the years Of 1869 and 1870, and
S35, 900 issued during the years Of 1878
and 1874, there were presented and paid
by us as follows: In1sG9, S4l 1886; 1870,
81, 655; 1871, $3.50; 1872, $50; 1878,
SlG,725; 1874, $500; 1876, S55; and
making a total OF exactly SSs,9lO paid Of
S90,00 drawn during the seven years
named. This covers all the so-called
"rag money" from 1868 up to this time.
How much Of the ground embraced In
the Tribune's statement is covered by this
statement Of Cleveland, Brown & Co, We
are not prepared to say. They admit the
issue Of a certain amount Of money
drafts on them) and demur only as to az
exaggcration Of the amount. Whether
the "New York" mine issued other draft
: than those drawn on themselves is no
stated. According to the Iribune'S state
ment they had issued during twelve
years, from 1868 to 1875, some 81, 900, 900
The statement Of Messrs. Cleveland
: Brown 4 Co. covers period from 1866
to the present time, and speaks only Of
the drafts drawn on themselves. Nothing
is said in their letter in regard to. the
T "Cliif7, mine. go u' ar
: It Is proper to say that the drafts re
} fetredto were gotten up, Obviously Of
} purpose) in the exact similitude Of
} money, and circulated as money in thu
Lake Superior regions just the same al
National Bank notes. Whether thu
amount issued vas only $4,000, or wheth
crit was 100000, does not matter as
regards that feature Of the case. Thu
manifest intent was 10 igste paper that
would pass as money among the peopl
Of Lake Superior.
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