Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1876-10-04
The "Iron Currency"


To the Editor of the Detroit Free Press;
Inclosed | send you n commnica-
ton from Hon. Peter White, of
Marquette, in relation to charges
circulated in this and other States
in regard to Governor Tilden's con-
nection with the mining interests
of Lake Superior. The statements
of Mr.. White are verified by some
thirty-eight Republicans of Mar
auette county, among the most
prominent business men Of tho
county, who do themselves great
credit in condemning what they
know to be base falsehoods.
The contradiction of these charges
are wholly unnecessary among those
who are acquainted with the man
ner of doing business on Lake Su-
perior, and doubtless they are de-
signed by those who circulate them
to produce effect among people
who are totally ignorant of the
facts. But it is not creditable to
the press or people of this State to
permit those charges to circulate
without protest. They are sland-
ers upon the State and its laws,
which have been carefully enacted.
First, to make every stakeholder
responsible for any labor; second,
to make all stockholders pro rata
responsible to any stakeholder may
have contributed Of his private
means to pay for labor; and, third,
to make directors peronally respon-
sible for any neglect or malfeasance
in the performance of their official
duties. Any one at all familiar
with our laws would know without
any other evidence that the entire
batch of stories circulated by the
Chicago Tribune and other parti-
san papers were false.
The mining industries of Lake
Superior furnishes more than one
forth of the iron and four-fifths of
the copper consumed in the United
States, and the value of it's pro-
ducts cannot be far from 100000
600 annually. This result has been
produced largely by capital out
side of our State, and Governor
Tilden is one among 100 of others
who have largely contributed to
the Development of this great in
terest. Having myself been more
or less connected with Lake Supe-
rior since 1852, | know the state
ments and impressions sought to be
made in regard to Governor Til
denis connection with that interest
are untrue and without anything
to justify them.
! will only add that since Judge
Sinnott's REPUTATION of the income
ISLANDERS the New York Times has
made assertions that Governor Til
den must have received from his
New York mine annually, from 1865
to 1872, over $4,000. know this
to be false. If Governor Tilden
has received, mp to 1872, all he ex-
pended upon his two iron mines on
Lake Superior, he has been more
fortunate, during that period, than
the owners of much more valuable
mines.
CHAS. H. PALMER.
The following is the correspon-
dence:
Marquette, Sept. IA, 1876.
Charles II. Palmer, ESQ, Pontiac:
DEAR SIR-Your letter of the
LIST inst. is received, and in reply l
would say that all the articles pub
lished by the Chicago Tribune and
other papers relative to Hon. Sam
uel j. Tilden's dishonest" eds
honorable or "improper" connec-
ton with the Michigan Iron Com
pany, or any other from company
in this region, or with "iron money!
or "iron drafts, or "iron currency"
are absolutely and totally false and
base fabrications, without even a
shadow of truth. Mr.. Tilden has
never been sued in this county, and
of course there are no judgments
standing against him. If he has
any liabilities here to any person or
persons direct or indirect, he has
plenty of unincumbered property
to balance such liabilities.
Very respectfully yours,
PETER WHITE.
The undersigned, residents of
Marquette county, do hereby GER
tify that we have read the within
and fore going letter of Peter White
to Charles ii. Palmer, and that the
same is correct and true.
II. Olcott, ID. II. Merritt;
Geo. L. Northrup, s. Adams,
III. u. Warner, John Thomas,
Il. w. Spear, l.. ID. Harvey,
William Burt, Jeffrey Coles
Geo. p Cummings, John Outhwnite,
J. =. Pendill, Samuel schoch,
Hiram a. Burt, w. l.. Wetmore,
y. r. Wetmore, siegfried Levy
o. w. sorrell, Henry l.. Hopkins
III. e. Penrse, John II. Ward.
Paul Arch, Il. II. Palmer.
II. Meade, ~. NJ. Watson,
Henry Barnes, Freeman Bros,
Il. II. Childs, q. III. " Cavis,
n 8. Thompson, Edward /. Hardy,
). M. Levy, E. NJ. Spalding,
ID. J. scoville.
State Of Michigan, county of
Marquette, Francis M. Moore,
clerk of the Circuit Court for said
comfy. do herebv certify that oil