The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1879-01-10
SUCCESSFUL RESUMPTION.

The following extracts from spe-
cial dispatches to the. Oregoniaa
show how resumption is regarded in
the great commercial centers of our
nation:
New York, Dec. 2.-Flags are flying eve
rywhere, because of resumption, yet there
is nothing at the treasury, banks nor any of
the exchanges, to make the day different
from ordinary dull days. Special arrange
ments, sufficient to meet any demand, had
been made by the sub treasury to pay out
gold for legal tender notes. The clerks in
charge of the department expected to be
very busy, but they have very little to do
even to the close of days business.
Reports from leading banks agree that the
amount of gold coming in to them is larger
than the amount going out. Neither banks
in domestic or foreign transactions, nor for
cign bankers, nor even spectators make any
difference to-day between gold and legal
tender and national bank notes. In the
gold room, dealings in gold have given way
to dealings in U. S. bonds, the latter being
all the business now done in that hall.
OF $50, 900 received at the custom house
up to noon in payment of duties the bulk
was greenbacks, and at the sui treasury, up
to that hour, only $500 in legal tenders
had been exchanged for gold. Treasurer
Hillhouse was prepared to meet probable
rush for gold but the demand was very
light, while in many instances greenbacks
Were preferred. The first demand was for
$2lO, but not another dollar i'll gold was
paid out for half an hour Within that
time there were half a dozen applicants fol-
| sums less than $50, but as no payments arc
made under that amount, they were refused.
National bank bills were also offered, but
were not taken, only legal tenders being ex
changeable.
| Philadelphia, Jan. 2-Resumption Oh
payments in this city caused no stir mhatev
demand for gold up to noon to-day very
i lilnited.
| Chicago, Jan. 2.-There is little in finan
cial circles to mark the advent of resump
tion day. The principal event of import
anee at the sub treasury has been the large
increased demand for per cent. govern
ments.. The demand for gold is confined tc
very few cases, the majority of applicants
preferring currency.
Gen. Jas, A. Garfield, who for the past
| few days has been guest of the CONNER
cial Clab Of Chicago, was invited by The
Honest Money League to deliver an address
to- ght on the occasion of the meeting tt
celebrate the resumption of sfhcie payments
The weather intensely cold, thermome
ter ranging from s to 20 degrees below zero
but despite this Farwell Hall was complete
ly filled with business men.
Providence, R. l., Jan. l.-Resumptior
of specie payments to-day caused not q rip
pie at banks or in financial circles. Very
few wanted checks paid in gold, and some
banks received more gold deposit thar
they paid out. In all general business tran
sactions bills were preferred. Even savings
bank depositors took their interest in bill
rather than gold.
Augusta, Jan. 2.-The legislature is or
ganized.. The following resolution passed
the senate:
Resoleed, That national honor, public
credit and private interest alike demant
that specie resumption, now happily achiev
ed, shall be maintained honestly and unin
terruptedly at every hazard, and to this enc
our senators and representatives in congress
are requested to use their best endeavors.
San Francisco, Jan. 2.-Although the re
sumption law went into effect yesterday, i
did not go into official operation until to
day. At the sub treasury to-day there wa:
a brisksdeman;l for greenbacks in exchange
for gold for remittanceaeast, which was de
MED. There is only the sum of $780,
in greenbacks lying in the vaults of the sub
treasury at present, and this is all needed
for the payment of demands against th'
treasury. Mr.. Sherman says the whole
sslnount would have been exchanged for golt
to-day had he allowed it.
The banks have notified brokers tha
hereafter they will make no discrimination
between gold and greenbacks