Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1873-04-10
National Finances.

ONE or two Of the New York papers
are still limiting at possible danger from
the change in the Treasury Department
but the sober second thought of the lead
ing men OF that city, and, indeed, of the
whole country, shows that there is no
cause for any anxiety touching our ma
tiOnal finances. The business interests OF
the country have been carefully regarded
by the President in the appointment OF
| Judge Richardson as the successor OF
Governor Boutwell, in the Treasury De
| partment. The appointment OF itself was
| an assurance to the country OF stability
and regularity in the management of the
national finances, and that assurance was
directly confirmed by the letter of Presi-
dent Grant to Mr. Boutwell,, accepting the
resignation of the latter. After express
| ing his great satisfaction with the retiring
Secretarys administration of the financial
affairs of the Government, the President
announces the future course of the Gov
eminent in the following clear and decid-
ed terms: The policy pursued in the
office OF the Secretary of the Treasury by
your successor | hope may be as success
FIJI as yours has been, and that no depar-
ture from it will be made except as ex-
perience and change of circumstances
| may make necessary"
During the temporary uncertainty and
anxiety as to whom the President would
select as the new Secretary, the business
men of the country were in state of pain
iul suspense, in the apprehension that the
new appointee might be one who would
inaugurate essential changes in the admin
lstration of the national finances. There
was feeling of alarm lest the stock
gambling and mOncy-speculatiug interest
| might carry the day against the substan-
| tial business interests of the Union. and
that IN new hands the department might
| be poWerless to protect the people against
even the evil effects of corners and
| rings But confidence was at once re
stored, ana the whole country hreathed
| freer when the nomination of Judge Rich
| ardson was made known and the PreSi-
dents letter to Mr. Boutwell, promulgated.
| 1T IS now definitely and satisfactorily I'M
| derstood that the business of funding the
| public debt at lower rates of interest will
go on rs commenced by Mr.. Boutwell,. and
| in accordance with the plan adopted by
| him, and tacitly approved by Congress.
| The judicious use of the Government re-
| serve for meeting the temporary necessities
| OF the Treasury will also be continued as
| heretofore, Congress having wisely decIin-
| ed to lnterpoSe any new restrictions upon
| the legal authority of the Secretary. In
| this manner the Government can be kept
free from the clutches of specializing
| harpies, and be able to retain on hand q
/ sufficient amount of gold to meet its specie
| obligations as they mature Mr. Richard
son well understands his authority in this
respect and will not be disposed to exer-
else 1t to any such extent as to produce an
| Injurious expansion of the paper currency
| lie regards 1t as a conservative and pro.
vlsory power TO be exercised within mar
row limits; and, while ne will not make
any unnecessary or permanent issue of any
| part OF the reserve, it is equally certain
| that he will not be deferred from Its iudic-
lous use by any threats or warnings of the
stock-gamblers, or Of their organs. He is
not a man who will try TO serve two mas
tiers; and, II the money spectators. cannot
make their interests square with those OF
the people, they might as we'll understand,
at the outset, that the new Secretary will
never be their servant for the promotion
| OF their selfish purposes-Bosto Globe.