New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-07
TAKING SILVER AT A LOSS.

yuorFsAIE MERCHANTS OBLIGED 40 TAKE IT, But
UNABLE TO DISPOSE or IT WITHOUT LOSS.
The burden of the silver nuisance falls
heaviest on the commission merchants, produce dealers
and Wholesale eroe~rs. They in petition to feel it
more than any else because they deal dir city with
the class OF retail grocers and produce dealers who have
tine trade 81 the wording people The latter now receive
their wages LARGELY in silver Hence the retailer must
take silver FOR his goods or send the aborng people to
some one who Will And when the retailers money
drawer gcd with silver he must either pursuade the
wholesaler aud commission merchant to take IL from him
or sell II 70 brokers' Z per cent disc0unt for
recnbac The broker then sells the silver " the man.
ufactnrcr al a prOf OF or % per cent The manufac
tuer pays ii again 10 bis employees At par, and the
silver goes the old round again The profits Of The
aH OF commission merchants cal
IT, fan equally between the broker and the manu- ac-
iuer. MS loss up 70 this tine' has ben borne Haniy
French Co.. Of No $50 Kea lest. say they have their
accounts wts me Nlhtl Nat.Ona' balk ieeeuy te
thereafter $40 81 would be regarded as large
49, -o ~ thst "r', Inc d,scn1nf den,nndr by the
silver brokers had been 1l2 cent uDni within Two or
three DAYS. Among commission merchants IL was
noticed month that SILVER becoming nuisance
the market the evil had been steadily in
creasing until 4 was we'll nigh intoleiaDle wien they
paid bill. the first question asked would be- How
much sih or eaa you taket IL Wac customary TO appeal
one 10 bear his proportion Of the load Tire freight
lines would not receive more than fraction OF dollars
worth of silver, the express companies would take
silver np So They exhibited letter 10 SHOW how the
silver question worked IN Gan fIabclscO
their AGENT to take SILVER for account which was
little slaky ard the silver turned INTO grcenback
draft discount Of Ger cent, INC pesV eIhs that
could be gut III san Francisco.
Miller Williams, OF Washington and Duane SITS, gave
substantially the ocolDt as the FOREGOING ihey
expressed strongly the desire that the LEGISLATORS WHO
are tampeIiDg With the Nations finances, which were
well enough uDt the silver cry started. might OBJ
tain cell IN a penitentiary az their reward .
The small ietai dealers in Washington MARKET handle
silver without much complaint or annoyance, but the
wholesale commission merchants Of the market are
sorly distressed Some OF them refuse 10 take the trade
dollar at all Others will receive silver only 10 small
Thomas Rutter & Co., OF No. 81 FTontst have no
trade in the CITY. but this morning received letter from
al their customers announcing tBat 40 III silver
was its To them by express.
Williams Potter OF 231 FrODtsL, stated that Their
dealings were principally with Out-oOwn houses, but
that they had about $3.50 In coin in their safe which
they unable TO dispose Of without loss.
Al the Post ONCE although the stamp clerks refuse 10
receive the trdedoar IN payment for stamps, they do
not hesitate 10 pass ~ out in change
Many Of the shopkeepcrs OF Brooklyn find that their
customers rcfnse 10 receive the tsddo!lar change
y b. Jones received and paid out the trdcdollar Mon
dav at valus Of 92 osBts Bortoa Hubbail Go. re-