The New York herald., 1873-12-22
Encouraging Views on the
Financial Situation.
SECRETARY RICHARDSON'S STATEMENT
Exhibit by the Commissioners of
Internal Revenue and Customs.
Receipts Improving--The Panic
Almost Disappeared.

! Secretary Richardson, in conversation yester-
nay, gave a very hopeful view OF the condition OF
the finances Of the government. He said when he
wrote his letter to Congress there every pros
pect OF the stagnation OF business seriously af-
fectng the operations OF his department. and though
In q measure such has been the case, he Is now en-
couraged, from various reasons, to expect more
prosperous issue. Signs Of reyivng activity at
home and In importations are already perceptible
In the revenues and there is every indication that
the increase, though yet small, will go on till 1t
approximates II IL does not entirely reach, the old
0guTes. Notwithstanding these Frightening pros
pects, he did not think 1t would be advisable
70 DELAY action in the matter OF making
timely provisions Tor possible contingencies, and,
therefore he hoped Congress would take some
action by which he would feel free to act If the
necessity occasioned 1t. He had no particular
suggestions to make but thought that the proposi-
tiOn to increase the taxes should only be adopted
when all other means failed. He said, however,
that that was a matter Tor Congress to determine,
and he had no doubt whatever measures they
would adopt would be for the best. The Secretary
said that in regard to expenditures and
receipts he could save $30,00o,0O0 on the
sinking fund by using such money as he
might have for the current expenses and pressing
demands on the Treasury, for II there were no
money to be conveniently turned into the sinking
fnnd he could not be expected to further embar-
rass the resources OF the department. by any
attempt to reduce the national debt. The Secre-
tary thought that Congress, instead Of requesting
. reduction Of estimates, had better appoint
committee to investigate their legislation on the
subject OF ofices and appropriations. There were
many unnecessary ofices and other sources of ex-
penditure which could just as well be abolished.
He thought the best way to diminish ex-
wo In fho law
There were number Of ofices appropriated
for annually that had long outlived their useful
ness He had no doubt there might be consider
able retrenchment in bringing the necessary
Offices, In their working force, nearer in accord
ance with the work to be performed. In regard to
che estimates he remarked that there seemed to
be an impression that he was responsible
for their amount which was not the case,
for with the exception OF his own depart
ment he was merely the officer designated
by law to receive them from the other branches.
and departments vf the government to prepare
them In ofic al form and submit them. The
estimates for the Treasury Department, he said,
were for specific and indefinite appropriations and
salaries, which were fixed by law and could not be
changed. Respecting public buildings the estimates
were IN accordance with the requirements OF Con-
gress. 1t was not for him to determine where
and 1t was his duty to carry out their wishes. He
thought any reduction in this line could only be
made by Congress. In regard to Notifications,
arsenals, armories and improvement OF rivers
and harbors he had nothing TO say, as
they belonged to the War Department. They made
their own estimates and they were embraced in
the annual statement The Secretary remarked
that, SO far as last years estimates were concerned
Congress appropriated about $40 0O0 600 more than
was asked ~, and the same power could reduce
the amount. He was in iavor OF cutting expenses
down to the smallest amount possible for such
action would, he was convinced, very satisfac-
torty relieve the present undesirable turn In the
balance between receipts and expenditures. SO
far he has managed to keep along with the aid or
the reserves, OF which about $4,000 is now out
The rest, il the worst were to come, would stand
him till spring, when trade would revive; but
with the signs OF increasing revenues already it
may not be necessary to draw upon them any
more to any extent. The Secretary says that the
statement that the eGsrmap government has made
another purchase Of United States bonds Is incor-
rect as far as any information tnat he has on the
subject goes,
Revision of the Estimates to be Com.
meneed Immediately.
~Tne Several executive departments OF the gov
ernment Will next week begin the work Of re.
vsing the estimates and setting forth In detail
what public expenditures for the current fiscal
year, and what estimates for the next fiscal year,
can be reduced without serious detriment to the
public service In order to have the same ready for
Congress upon reassembling after the recess in
accordance with the resolution OF the House OF
Representatives. The estimates for the running
expenses OF each department. such as salary Of
clerks, books, stationery postage, &C., cannot be
reduced, but those for work upon public buildings
throughout the country, erection OF lighthouses
&c., viii be cut down extensively. The estimates
for work on public buildings and lighthouses for
the next fiscal year amount to $4,000, 900,
which sum can be reduced to $3,0Oo,0O0 or
$4ooo00o. Most OF the $1o 600 is for beginning
work on new buildings in various parts OF the
country, and as there is manifest disposition in
Congress not to commence any new buildings,
these estimates Will all be omitted. Upon those
public buildings now in course OF construction
some appropriation will be necessary to continue
the work, as its cessation would result nuriously
to that already done. For instance. the work upon
the buildings in Philadelphia and New York can
be continued with an appropriation OF about
31o00,0oo for each, and smaller buildings in other
parts Of the country can be completed or kept In
fair stage OF progress with smaller
sums. Another item in which there will
% = very heaVy reuuctlon Is the estimates Tor
public works under the Engineer Bureau OF the
War Department, amounting to s2l, 300 Ooo for the
improvement OF rivers and harbors, fortlflcations
&C. The appropriations for these purposes will
probably not amount to one-haif OF the estimates
The expenses OF the War Department proper
Secretary Beiknap states, cannot be reduced, as
they are now at the lowest possible figure for a
satisfactory management OF that branch OF the
service. The estimates for the government OF the
Indians, the pay OF Superintendcnts, fulfilling
treaty obligations, &C., amount o.neary 900,
m increase OF 100000 over those OF two years
ago. In these there will be some reduction
though 1t will probably be small.
The Commissioner of Internal Revenue
ON Collections.
The Commissioner OF Internal Revenue gives a
very nattering account Of the returns from the
various collection districts. He states that il the
trnx Inn