New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-05
Secretary Richardson Interviewed.

The Washington correspondent: OF The
Chicago Tribune has had q little talk with
the Secretary CT the Treasury, with the
following result:
IL reply 20 inquiries mad. ~ yea: 60
! Respondent ms evening. Secretary Ken
, arCsou reiterated i.s former stattnlen. ina.
| ne believes the government. vii. ne: Jose
, do.ia II consequence OK the failure O. C!ews
Il Co. or Ciew.. Habcht &. Co.. that few
thousand dollars may POSSIBLY be los:
thereby. bu: he thinks the indications are
that tho company vii! pay all Of its debts.
Furthermore. if Jay Cooke & Co. pay
even thirtythree per cent. he believes the
| government. whicl, stands IN the position
o! a preferred creditor. will not lose any.
! thing By the failure OF the First National
Bank OF this city. No proposition of com.
promise has Yet been made by JAY Cooke
| & Co, through the receiver OF the First Ma.
tional Bank, TO the Treasury Department.
| but Judge Richardson says il Cooke X Co.
| will pay fifty per cent cash. with interest
| bearing notes for one. two and three years
for the remainder OF the company's indeb..
! edness. az mas been reported will probably
| be their proposition for settlement. all will
| be well, especially 30 far as the government
| is concerned N the First National Bank o;
| Washington, and it ls probable the latte:
] concern will be able to pay up its entire IA
d b.edness.
| A. 70 .he affairs Of the syndicate. Mr..
| Richardson says they Will not be directly
disturbed by the failure OF Jay Cooke *
| Co.. though j. is possible that the II.
suit of the financial panic in this country
| may retard or injur;ously stec, the sales o:
our new bonds in foreign countries. How
ever. he does not expect such a result. fUI
the reason that the bonds of the United
States WI! be placed upon even a more
solid basis abroad as a safer !nvestmen.
than heretofore by the contIas! That has
been made IN favor of oar government Sc.
curltes as against railrOa.: stocks. He as
serts that the syndicate docs NOT. and ". i
NOT, be allowed to owe the United States
government anything for new i've per cer. /,
bonds taken by that body. The syndicate !
has. mp TO this time. taken more than ~ .e- |
nulreG by its agreements wit: lie depart. |
meni. More bonds were a.het. Tor jus: |.
before the present panic se- Il. out the 20. |
quest ha. not been colnr.i".: with We.
though the order ;o5 thea. IA. 10: be-. !
countermanded. ,
The Secretary thinks 70 serious ieciii. =.
the prices Of American securities will be sc-
casloned by the panic III this country. which |
now seems to him 10 have almost entirely !
spent its force. But little :ojuriou. etie..
has been indicated III foreign markets wL.ca
can be attributed TO the unsettled state OF
affairs on this side Of the ocean. Mr.. Eici.- |!
ardson is gratitled by the excellent condi.
ton OF the government finances. as exh.nl.-
ed in the debt statement made today. lie
believed many persons would oe surprised
TO find that the legal tende: reserves have
not yet been drawn upon. nc. he candiGlv
expressed his purpose 70 ',:aw upon .EeI.
whenever Or as soon as :: l.coInes i. C..
sary.
English gossip says TIA: he reig,ing
Duke of Brunswick is abcu. % bring acton
to cancel the late Dukes VIII On the ground
that the hulk of his nrn-.er.r eaueciz L.