New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-26


meeting in London called by President Watson,
who announced that his Company wanted ,OOC
Immediately to carry out improvements in its road
THE SITUATION AT WASHINGTON.
GOVERNMENT COUNCTIs-IT is DECIDED TO BUY NO
MORE BONDS AT PRESENT.
lBY TELEGRAPH TO TIRE TRTBUSEl
WASHINGTON, Sept %. The Acknowledgement
and Secretary of the Treasury were in conversation
for long time during the day the subject of the
finances. The ACKNOWLEDGEMENT, it is said, was
asked to give his opinion as to the authority OF the
EIoyernment to redeem the gold bonds before they
fall due-tbat is, to buy bonds falling due in 1874
a is understood that Judge Williams of opinion
that the law required the bonds to be redeemed at
rertain specified time and that it did not contem-
plate an earlier date than that mentioned in the law
as il would leave too much power in the hands Of
The Secretary if he were permitted to redeem the
bonds before they fall due. The question as to the
wisdom of continuing the purchase of bonds by the
Government was also fully discussed. This evening
n consultation of the two gentlemen named with the
President was held at the White House, and the
views of all given Each one concurred in the
opinion that the currency put into the market by the
purchase of bonds was sufficient for legitimate bust
meas and that it not advisable 10 purchase any
more bonds for the present The Secretary OF the
Treasury will therefore notify to Assistant Treasurer
HhOuse tomorrow the determination of the Gov
eminent
A Cabinet meeting will be held tomorrow. at
which will be present Secretaries Richardson, Da-
lano and Robson and Attorney General Williams
and Postmaster General Creswell. No decision will
be reached as to the appointment of financial agents
for the State and Navy Departments in place Of
Clews, Habicht g. Co. and Jay Cooke McCulloch
n ca until the return of Secretary Fish.
a CONSULTATION AT THE TREASURY DEPARTMENT
THE EMPLOYMENT OF THE GREENBACK RESERVE
DIscUssED-IDLE RUMoRs CONTRADICTED - AN
IMPORTANT CABINET MEETING TO-DAY.
GENERAL PRESS DIsPATCH.l
WILMINGTON, Sept. 25.-The Secretary of
the Treasury Assistant Secretary Sawyer, and Attor
peyGeneral Williams were in consultation at the Treas
airy Department to-day, First Controller Taylor being
also present during part OF the conference when
LASTED nearly two hours Thete was ful and complete
exchange of views on the prevailing financial troubles
and the proprety Of further action by the Government
1T seems certain that determination was reached and
coucurred in by all present that the Government should
NOT use any portion Of legal tender reserve for the
purchase additional bonds although this reserve may
BE temporarily eucroaehed upon for the absolute wants
OF the Government, but then not to any great extent
and not with any view 10 initiate the currency, as the
Secretary even forced by circumstances to put out
will as be did IN the first two three months OF his adj
snnstraon reduce the amount 10 that standard again
at the earliest practicable time. The present under
standing is that the Department believes 1t has helped
the banks far the public service and consistency
will admit that at present there Is no intention OF
issuing additional instructions for bond purchases
Rumots have reached Washington from the South az
well ~ NewYork and other places, that the Secretary
OF the Treasury has advised the temporary suspension
banks but there is not the slightest indication al
the Department that any such policy has been or VIII b
advised Secretary Richardson asserts that furthel
than helping the banks by the bond purchases wmci
have made has nothing 10 advise and only look
TO the interests OF the Government other wild rumor
have been freely circulated to-day the larger number
which can DO traced 70 solid foundation.
The stuston so far as the Government Is concerned
unchanged the close Of business yesterday whe
the purchases Of bonds stopped Several banker
OF this city have called on Secretary Richardson toda
the purpose Of obtaining currency 10 meet their de
ands but though bonds have been offered here no pur
chases have been made. The employees OF several dc
psrtments being paid OF to-day at the request
Gov Shepherd for the purpose Of easing the market 4
this District The Navy Department Is also paying on
s employees to-day in anticipation Of the usual pay day
order lessen the strDgency OF the money marke
caused by the scarcity Of currency.
There will be a Cabinet meeting tomorrow, the usua
Cabinet meeting day, and as II will have weight
financial matters for consideration by the heads Of Coy
eminent Departments, intense interest is felt in tn
result No official here has any idea that there will
called session OF Congress. with view 70 rehevin
the hDaneial pressure.
THE SPECIE PAYMENT PROSPECT.
lBY TELEGRAPH TO THE TnBUSE1
WASHINGTON, Sept. 25.-Dr Linderman, til
Director Of the Bureau OF the Mint who has made a M
study OF finances and is Of the ablest OF Governmer
officials predicts that the effect Of this stock panic wi
be 20 hasten the resumption Of specie payments. II
SAYS he shall not be surprised II within month sily
coin should be medium OF circulation at currency rate
and II a still greater crash N stocks follow
the opening Of the Stock Exchange thing ne regar
as very probable-the full resumption OF specie pa
ents he thinks cannot be long delayed as every thin
even stocks must come TO a gold level lie does u
think the panic will be disastrous as the recuperan
power OF this country with It's wealth Of graiD coto
and crude bullion will enable 1t 10 retain Its advahta
over foreign countries He says he Is getting read
and has issued the requisite orders to all the MN
for largely increasing the coinage ana that more u
loh will be coined during the next three mont
than az any previous time in the same PERIOD. NO
ports Of crude bullion will be made for several month
twlng principally the unfavorabc rates OF excbahl
Large orders have been telegrapled W Lohoou no
beW-Y0rk for the inDortatnn ~ snvHr~iS"S """"'