The Wellington enterprise. [volume] (Wellington, Ohio) 1867-188?, 1879-01-16
OUR NEW YORK LETTER


pervision in every county Of the State.
OUR NEW YORK LETTER.
Did you ever hear that little story of
the dead lion, and how various other an
imals, including him of the long ears,
amused themselves by kicking defunct
msjestys Ihave, and am always re-
minded of 1t about this season, when
pretty much every body who has q chance
to print his remarks steps bravely up
and kicks the old year. And I don't
know why it is, but it seems to me that
no year that has given up the ghost since
first saw the light was so soundly be-
labored on its deathbed as 1873. What
can be the reason? 1t was a pretty good
year as years 60. To be sure it had its
little Irregularities, which suppose /
might dwell on, but please show me the
year that has got along without them.
Let Us remember the proverb which for
bids Us to speak anything but good of
the dead, and not add poigrancy to old
Father Times latest bereavement by cir
culating evil reports about his newly-en-
tombed offspring.
Then as to the New Year, suppose I
ought to make q. few remarks by way of
conforming to custom, but really know
no sensible reason for doing so. Every
one of your readers knows just as much
about him as do; in fact those of them
know more who sat up to witness his ad-
vent into the world. find myself get
ting too old for such vigils, and much
prefer sleeping through the eventful nc
ment when every glass is raised to pledge
the health of the newcomer. So all
can say about 1879 just now is, that he
is little inclined to be cold Almost his
first official &C: was to put his foot on the
mercury of my thermometer and drive it
way down below par, shovel broken ice
by the thousand tons into our rivers and
harbor, and turn Us into red-nosed and
cold.toed community. II any of his fu-
ture proceedings in this vicinity prove
worthy of record, it will afford me great
pleasure to communicate them to you.
If you can pardon my tendency to
quote fables, allow me to refer you once
more to lEsop, this time noticing what
he says about that large mountain which,
once upon q time, after groaning and
earthquaknig around for considerable
period, and thereby filling thu neighbors
with breathless and swe-stricken expec-
tation, brought forth particularly small
mouse. Perhaps you may see some ap-
propristeness in the sllusion in connec-
ton with the formal resumption of specie
payments.
Owing to the fact that New Years is
o legal holiday in New York, the practic-
al evidence of resumption-namely the
reception of greenbacks in payment of
duties at the Custom-House-was not
shown until the I'd inst. On that day
Wall st., presented gala appearance.
Immense flags fosted from either side of
the main entrance to the Custom House,
while leading banks and private banking
establishments displayed similar patriot
ism. A broad smile was over the face
of the whole financial world. For the
first time since 1862, merchants and bro
of greenbacks instead of gold. Inside
the cashiers Office where formerly had
been q constant chink of gold in the
scales or upon the counters tables, on
Thursday there was comparative quiet as
The crisp notes were handed in with a
chuckle. For sixteen years had the mer-
chants staggered from their banks under
the weight of gold. A bag containing
bodied man can carry without looking
OuC- oi0Co, oAo WACh ~ ID AOAaCIAOSACo
that some business houses pay duties to
the amount of $75, 600 at time, an idea
of the physical relief alone may be had
The daily business at the Custom-House
often aggregates over half q million, and
on special occasions, such, for instance,
as change in the rate of tariff, the
amount is much greater, having reached
the sum of two and half millions of
dollars. Thus is business good or bad
with Uncle Sam, as with us poor hopeful
or despondent mortals. During the af-
ternoon of the End instant, Collector
Merrill visited the cashiers Office to find
everything running as smoothly as though
the new system had been under full way
for months.
At the sub-treasury there was little or
no excitement; holders of greenbacks
making no efforts to redeem them in coin.
Assistant Treasurer Hillhouse had in his
vaults to meet the demand $110, ,OOO, 600
in gold. Business began at 10 O'Clock;
the Navy-Yard fired a National salute,
and one % young man appeared at the
wicker-gate of the sub-treasury to re-
ceive his double-esgles for greenbacks-
q good deal of gun and bunting for a
small matter. Six month ago, how the
foes of resumption would have laughed,
or any of the rest of US for that matter,
to be told that at the close of the first
day Of specie payments the Government
would have larger gold reserve than a
its openingl But that was just what oc-
CURED. During Thursday, only $780,
600 coin was paid out by the sub-treasu-
Nv, while $4OO,O 900 in the same money
was received.
In mercantile circles the tiny dollar
pieces were eyed suspiciously, and in
some cases were refused point blank, peo-
pie being afraid for their genuineness.
In short, the only trouble connected with
resumption day was among those who
could not resume either in gold, green
backs, or small change.
One of the most notable occurrences of
the day was the closing of the Gold
Room Of the Stock Exchange, complete
history of which for the past sixteen
years, would make q thrilling volume.
In this room the ever-vsrying price of
the coin has been made day after day for
all this time, during which it has wit
messed thousands of transactions involv-
ing thousands of millions of money.
Marvellous fortunes have been made and
lost within its walls. 1t was all but de-
serted yesterday. and not single tran
saction was recorded. The indicator
stood at 100 all day, as in fact it had
stood for several days previous. At noon
the chairman and other officers retired,
after locking up their desks and the fin
2erboard of the indicator ''This is the
end of IL ~ one of thavp ao;d ~ ha y>ossed