, 1876-11-04

honor, bnt l. h easy 10 scc that they know on
which side their bread ia buttercd; and, knnw-
Ing IL, docs any ono suppose they arn 30 guile
less Ms to lnac pretty "fat take" by refusing
10 writo letter ON tho order OF tlLcir Ghetf
And when writing 1t, wonll they 1ueo sight Of
tho aa!e Ut 100000 tons Of orc ad tho comnla-
sions; and would they, holding that object IN
view, bs fully rs severe on tho President of tho
Company ~ they might otherwise 10 and still
lte truthful But I'D not charge upon N{cssrs,
Gletelsndl Drown & Go. ANYTHING moro tllan
ats ws to as ws1Ts{ ~ fooa story Tor san ms tho
Tho New fotk Mine, It Is not disputed, Is more
than twttthIrds tho property Of ridden; md,
aynrdi,g to tho report Of the ngent, s!'o,60o Of
ssS,5il redeemed. Vol, tllis Il 90 muesl, my
Wny toTartls proving previous assertions Tint
| Tltdcn had been IN tho
sntNr1.Asrxn 'nusrSEss. .ta..
| But II Il alleged TINT these drafts were lcgnl,
TINT attorneys had examined Into tho case and
| pr0tuttnecd them not an infringement of Tho
| lazy. II has mover been questioned TINT these
drafts, engraved md Issued In denominations Of
curro1iey ''fhcy did. 30 circulate; ami, Indeed,
! It has always been inserted that tho isolated
'ron1itt1f Of tho mines froni the ordinary .ayc
il1cs Of trattc and cosntnerro made It 50 difficult
tssuu d loGa,l money to meet tho demands OF
loral business In size, appearance, qualify OF
paper, tho drafts were absolutely Similar 10
money. Sosno of tho plates wero engraved On
REGULAR currency Denominations, anil supplied
with another cyilcncn Ut similarity to ordinary
paper currency In tlicit fancy green 6ack. They
were IS attraeatvo In form as atttsts could lnuEo
:" Az to tfetr, legality, the decision Of Judge
OGratly has brcn cited: l10 was the Democratic
Judge Of. this circuit; and VIC therefore l,nvc
judicial opinion delivered by Democrat that
fHx3trh t1pn &htI1
CONTEMPLATING IT WAS NOT CRIME.
In addition td this opinion, with your indulgence,
will tranaerbu the. section o. ,thc Compiled
Laws. Of Nlrhigan, On which Judge O'urady's
.rG,744) sEc. 0. No peston, association, or
body corpotafe, whet,cr iaible Of private, except
such totlics corporate al Hliat he expressly
md 10 iasne 6ilIs shali iasie any bs; nnics duo.
bls;; d,GG:; o. o. ether @ evidence of deht, n The
cntrcncy or c!rculhtipg medium: aad every rer.
sen,, snl every member Of saell eorroEat!on wIo
punished by imprisonment in tie stato i'risaM not
moro than three ycara, or in Tho Connty jail not
1 :, s ns' ms Or h s nst ct s ig
md any snch corporation shall thereby forfeit MI
nss l. soiGsFsts 4s4i 'fn IT, esa s'.ese' Complied
There arc other provisions ,ot law catia1ly
pldn, but tho uboye Is deemed enough to aGt nt
rcngy." y,
were violated by this circulation. III, 1873,
Robert Nelson, a banker at 1shpemtng, tru,is-
nlitted bills Of several companies to tile Com
missioner OF 1ntcrnnl hcvcnuo ut Washington.
It was this oct which ually drove out Of tlrcu-
Agent wis aont to Investigate. uo aid tile local
Deputy Collector OF Internal Revenue nscer-
tallcd from tic awornrcports Of the Companies
officers tho exact average monthly circulation.
In I'm nprt
monthly circulation Of sllinplasters, aggregated
from the sworn reports Of officers, by thI Uepu-
ty Collector of 1ntcrnnl Revenue, Us shown l,y
bis official reports and books, amounted to SiD,
Iii .All Of tho companies that Issued. But hu
wns owner Of over two-tllirtls Of Now" York
Mine stocki and was stoctholder IN the Michi-
ga5 Iron Company, in tug 1fon cltlIs Company,
Frym the knuc official Fccorls, on ilc In Mar
qnettc, at Enss Saginaw, III tile Collectors Office,
as1 at Washington with tho Commissioner, l
and Tint TIC q. 80.
AVERAGE MONTHLY CIRCULATION, .,
Of tic Companies In which Tldcn WIS share
holder WIS ID follows:
Now York Mine, thirty four months....S a57, GOO
Michigan Iron Co., seventy m0nthH..... 5a1, LAO
IL il. : q H. H., sofoa months - o3 ia iso
Total average monthly circulation. IS, ss7, 700
This covers only tho Companies IN which san!
AAEH ll1A Au 4AkGlC6t. ~ G4A uNAEE lAtEIIul
Revenue Inv, Of onu.twelftt1 OF j per cent, was
nsscsscd against all the Companies Issuing tur-
rcney, and y greater per ccnt agninst ,butks,,
Dut Congress 81 Esfeyea them n1 from the payment
II have not at hand tllc reliable iato from
which to state tho fssuo'ot, the New York Coin-
pany; but my oilc doubts my figures Us above
given Of the avorage monthly eireulatiol Of tne
Mr.. Walter Flnney., Deputy Qollcctur.. Of In
tcrnal Revenue, nt Marquette, Mich, will show
tho documents. Thu amounts l hare given nra
taken tronl the official reports III his hands, and
they nro tho amounts on which tho tAx was lev
led; and these. reports arc l,ascd on tho sworn
| statements Of the tninu officers. Let II, huw-
ever, bo remembered, TINT tho time covered by
these rcports began with june, 1864, the date
the law took effect fc1ating to tux IN currency;
and It docs not cover all the Years tlIe currently
Admit that Alcasrs. Cleveland, Brown 1; Co.
are correct ~ their statement " the a.nnunt
Mine, docs 1t not follow that hc Issued So0000
mort than he had any authority OF Inv to issliul
y MT T!lleR 1I, fugitive from Justice under
Thu moro this ''iron-currcncy" question Is
stirred tho Worsa It will sn,cll.
ElsEN.
-: CAicaoo Tribune, Aug. 0.
Am UNIMrEAC1IAnhu WITNESS. p,
Saturdays Times contained an editorial
Paragraph stating that 1t hnd received q letter
from y Marquette correspondent denying III
toto "sone foolish inaunlgrngs uiMut our
Uncle sa1nuclis operations In tic Michigan
Tho TINES is'a little too brasil. Il should not
hayo sud TINT !" the contradiction ID quItp un-
eu by the ManuottS &c corresposdent e arc ; ln a
doubleday true, ard there are Witnesses Right
heto II tllts city who can bear Testimony to Their
eorreetnuss. -. 49,.