St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1879-01-10

pose might dwell on but please sho'
me the year that has got along wlthon
.~on. Let us remember the proven
! which forbids us to speak anything bu
good of the dead, and not add poignan
f cy to old Father Times latest bereave
! ment by circulating reports about hi
, newlyburied offspring.
! Then as to the New Year, suppOs
ought to make a few remarks by wa
of conforming to custom, but really
don't know any sensible reason for do
ing so. Every one OF your readers know
just as much about him as | do; in fac
those of them know more who sat up t.
witness his advent into the world.
find myself getting too old for sucl
vigils, and much prefer sleeping through
the eventful moment when every glas
is raised to pledge the health of the
newcomer. So all / can say abou
1879 Just now is. that he is little in
clined to be cold. Almost his first off
cial act was to put his foot OH the mer,
curry of my thermometer and drive il
way down below par, shovel broken ice
by the thousand tons into our rivers anC
&
cold-toed community. If any of his flu
ture proceedings IN this vicinity prove
worthy of record, it will afford me pleas
ure to communicate them to you.
If you can pardon my tendency to
quote fables, allow me to refer you once
more to Esop, this time noticing what
he says about that large mountain which
once upon Il time, after groaning and
earthquaking around for considerable
period, and thereby filling the neigh
bors with breathless and awe-stricken
expectation, brought forth il particular
" small mouse. Perhaps you may see
some appropriateness in the allusion in
connection with the formal resumption
of specie payments.
Owing to the fact that New Years is
IL legal holiday in New York. the prac-
teal evidence of resumption-name e..
the reception of greenbacks in payment
of duties at the Custom House was not
shown until the ID inst. On that day
Wall street presenteda gala appearance.
Immense flags tioated from either side
of the main entrance to the Custom
House, while leading banks and private
banking establishments displayed SINH
lar patriotism. \ broad smile was over
tho ta"a of the whole financial world.
For the first time siuUr IoGa, merchants
and brokers passed their entries by the
payment of greenbacks instead of gold
Inside the cashiers office, where for
merly had been a constant chink of gold
i'll the scales, or upon the counters ia
bles, on Thursday there was compare
tive quiet, as the crisp notes were hand
ed in with chuckle. For sixteen years
had the merchants staggered from their
banks under the weight of gold. A bag
containing $4,000 of this metal is about
all an able bodied man can carry with
out looking one-sided and when it is
remembered that some business houses
pay duties to the amount of S75, 200 at
time, an idea of the physical relief
alone may be had. The daily business
at the Custom House often aggregates
over half Il million, and on special oc-
casions, such, for instance, as a change
in the rate of tariff, the amount is much
greater, having reached the sum of two
and Il half millions of dollars. Thus is
business good or bad with Uncle Sam,
as with us poor hopeful or respondent
mortals. During the afternoon of the I'd
instant, Collector Merritt visited the
cashiers office to find everything run
ming as smoothly as though the new sys-
TEN had been under full headwav for
months.
At the sub-treasury there was little
or no excitement; holders of greenbacks
making no etfoIt to redeem them i'm coin.
Observation-Disclosures HillhOuse had in his
vaults to meet the demand, $4,000, 900
in gold. Business began at 10 o'clock
the Navy Yard fired National salute,
and one " young man appeared at the
wicker-gate of the sub-treasury to re-
ceive his dOuble-eagles for bills-a good
deal of gun and bunting for small
matter. Six months 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
at its opening But that was just what
occurred. During Thursday, only SI32.-
OOO in coin was paid out by the sub
treasury, while 100000 in the same
money was received.
In mercantile circles the tiny dollar
pieces were eyed suspiciously, and in
some cases were refused point blank.
people being afraid for their genuine
ness. In short, the only trouble con-
nected with resumption day was among
those who couldn't resume either in
coin, greenbacks, or small change.
One OF the most notable occurrences
of the day was the closing of the famous
Gold Room of the Stock Exchange. a
complete history of which, for the past
sixteen years, would make thrilling
volume. In this room the ever varyipS
price of the coin has been made day aft
ter day for all this time, during which
1t has witnessed thousands of trapsac-
lions involving thousands of millions of
money. Marvellous fortunes have made
and lost within its walls. 1t was all but
deserted yesterday, and not a single
transaction was recorded. The indi-
Gator stood at 100 all day, as, in fact. if
had stood for several days previous. At
noon the chairman and other officers re-
tired, after locking up their desks and
the hnger-bOard of the indicator. seTbis
is the end of it," one of them said, as he
passed out reluctantly, and the Gold
Room was closed, let us hope never to
be re-Opened.
ouch was the resumption day. Ionp
and much dreaded. In the
llgnt OF its peaceful passage, how conf
cally the dismally prophetic columns
read which have been printed during
Ihe past year, warning the nation of the
terrible and ruinOus financial convuIe
SION which would inevitably mark tic