Nebraska advertiser., 1879-01-09
RESUMPTION DAY.
How it Operated in the Various Prin-
cipal Cities.
Flags Flying in New York and a Gen.
eral Feeling Of Rejoicing Pre-.
walls Everywhere.
Reports From all Points Indicate q
General Preference for the
National Greenback.


National Greenback.
PROVIDENCE, r. l.. January 2.--The
resumption of specie payments to-day
caused not ripple It the banks or in
financial circles. Very, few wanted
checks paid in gold and some banks
received more gold on deposit than
they paid out. In all general business
transactions depositors took their in
terest in bills rather than gold.
NEW YORK, January 2.-To.day is
investors day in wall street, and the
general government, New York city
banks, Insurance companies. railroad
and other corporations emphasized the
new year by paying in gold to all who
| desired the semi-aDnual interest and
declared dividends. 1t is noteworthy
that decided preference is given to
paper money. 1t is more convenient
to handle and just as convertible and
acceptable.
General Hillhouse, United States
sub-treasurer, states that resumption
so far as the working of his otf1ce-was
concerned, had been attended by the
most gratifying success, and that there
appeared to be no demand for coin, the
payments thereof in exchange for pa
per being very Insignificant. Up to 2
o'clock the sub-treasury had received
over five hundred thousand in gold,
in exchange for which was issued le-
gal tenders and certificates of deposit
while on the other hand it was esti-
mated that the disbursements of coin.
for the day would not amount to over
one hundred and twenty-five thous-
and dollars.
Ofthe $25. 600 received at the custom
house up to noon in payment of du-
ties the bulk was greenbacks, and at
| the sub-treasury up TO that hour, only
| 81, 500 in legal tenders had been ex-
changed for gold. Treasurer Hillhouse
was prepared TO meet the probable
| rush for gold, but the demand was
very light, while in many instances
green backs were preferred. The first
| demand was for $210, but not another
dollar was paid out for a half hour
| Within that time there were half q
dozen applicants for sums less than
fifty dollars, but as no payments are
made under. that amount they were
refused. National bank bills were al
so offered, but were not taken, only
legal tenders being exchangeabIe.
Flags are flying everywhere because
OF resumption, yet there is nothing at
the treasury. the banks, nor at any of
the exchanges to make the day differ
ent from ordinarily dull days. Spe-
| oial arrangements, sufficient to meet
any demand, had been made at the
sub-treasury to pay out gold for legal
tender notes. The clerks in charge of
the new department expected to be
very busy, but they had very little to
do, even to the close of the days busi-
ness.
Reports from the leading banksagree
that the amount of gold coming in to
them Is larger than the amount going
out. Neither the banks in domestic
or foreign transactions, nor foreign
bankers. nor even speculators, make
any difference to-day between gold
and legal tenders and national bank
notes. In the gold room dealings in
gold have given way to dealings In
United States bonds, the latter being
all tho business now done In that
hall.
CHICAGO, January 2.-There Is lit
tie in Chicago financial circles to mark
the advent of resumption day. The
principal event of Importance at the
sub-treasury has been the largely in
creased demand for four per cent.
governments. The demand for gold
Is confined to very few cases, the
majority of applicants preferring cur
rency. At the custom house the du-
ties are being paid in green backs
There is no furry at the banks, and
no general or even perceptible inquiry
for coin oyer The counters.
New YORK, January 2.-The cham
ber of commerce to-day adopted reso-
luton felicitating the community up
on resumption, eongratulatiDg Secre-
tary Sherman for the success of his |
policy, cooperating with the treasury
lishment of the national banking law.
A resolution was also adopted calling
upon congress to avert the danger at
tending the adoption of silver as the
measure of values by amending the
existing law so as to further limit the
coinage of the silver dollar and its use
as legal tender.
New YORK, January AT the SUBJ
treasury to-day men who presented
gold certificates answered the clerks
question, gold or greenbacks ?" with
''green backs are good enough for me-"
or, give me bills; what Go I want of
gold ?" One German said /: "Bilis
bills! Do you want me to lug coin
around" One clerk said in two hours
after he began aging gold out nobody :
wanted it. We have received enor-
nous quantities of gold certificates,
and every on of the messengers de-
nanded either notes of larger denom
nation or clearing house certificates. J
There was little division of opinion {
On the subject of gold as a working
medium of exchange at par, and sew
sral bankers insisted that the treasury
gold balance would Immediately in j
crease instead of decreasing. One na-
.ional bank sent 100000 In gold to [
he sub-treasury.
PHILADELPHIA, January 2.-Re-
of specie payments in this I
,ity caused no stir whatever. Inquiry t
It prominent banks showed demand {
or gold up to noon to-day was very
limited. at the office of the assistant !
reasurer gold is not being paid out ex- !.
,ept for interest and government OBJ =
igatioDs, the whole business of re-
sumption for the present being CEN
cred at New York.
ST. PAUL, January 1.-Fhs banks i
,aid out small amounts of gold on a
hecks. etc. There was no excitement t
customers preferring paper except for o
of curiosity. a