Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-16

ident left for Elizabeth, n. j., this morning
to spend Sunday with his mother. He
was accompanied by Secretary Robson.
The internal Revenue receipts for the
month are S3,670.902, and for the fiscal
year, S36, 750,44l.
Secretary Richardson's Coming Re-
Special to the Cincinnati Commercial
WASHINGTON. Nov. I3.-The points to
the forthcoming report of the Secretary of
the Treasury have been developed by re
peated interviews with him, and are be-
lieved to be in the main as follows: He
will recommend that the forty million legal
tender reserves be made a part Of the per-
manent currency: whether he recommends
this or not, it seems assured that it will be
the first act Congress will pass. The Sec
rotary SAYS that whether ne goes for intia-
ton OF contraction, he will make
enemies. but he is on good terms with
himself, and thinks he has saved the Treas
ury once or twice already. He will favor
the convertible bonds OF small denOmina-
tions, beginning as low down as twenty-five
dollars. bearing one cent day interest, and
convertible into greenbacks at pleasure.
The old bonds of higher denominations
Will. Oh NDuISt, et II III tilNoO
Ter bonds are put out. The object of this
scheme, as has often been explained, is to
make working people, servants, and the la
horizons. thrifty classes have an interest in
the National securities. 1t is thought that
this issue of small bonds will be favored by
both cOntractiOniStS and eXpanSionsits.
The most important admission by Mr..
Richardson is, that he will probably be
a borrower of gold and greenbacks within
three months. to paw the current expenses
of the Government and the interest on the
public debt InterTOrated on this head,
he said that there was no way for the Gov
ment but to 90 into the open market and
buy like any other purchaser. The reasons
for this policy are the falling off in customs
duties, and internal reyenuereceiptS. Inc
bonded warehouses are filed with goods
which importers, and even tourist purchas
ers can not pay duties upon. The stopping
of factories has leSsened the quantity OF
materials on which internal revenue can
be collected.
Another suggestion Of the Secretary will
attract general attention. He expects to
recommend to Congress the restoration OF
the duty on tea aud coffee. He shows that
placing these articles on the free list has
that the Congressional cry OF cheapenin9
the poor mans beverages. and making a
free breakfast table, has not proved sue
cess: whereas these articles formerly brought
twenty millions reserve every year.
The Secretary admits having used Owe
six millions of the legal tender reserves al
ready. but he feels compelled to make thi!
deficit good. When he shall have the re
sources to do so. he will ask legislation t
authorize the measures. He holds that tn
recent general criticisms on his course hav,
seasoned him. and made him Independent
and free to declare his opinions, without re
gard to low-tariff men or prOtectiOnists, o
any other school of political economists
The Secretary is guarded in his discussion
of the above propositions, but ms clirloSlt
TO sound in advance the probability {
their acceptance by the public, has tastene
the attention Of journalists upon them
Financial Questions in the Next Con
Eress.
Special to the Cincinnati Gazette
WASHINGTON. Nov 13.-Prominen
Senators here express the decided Opinio
that neither the President nor Secretary
the Treasury will favor the initiation OF tn
currency. The opinion is decided tia
some measures looking TO expansions WI
PASS the House during the first part of tn
session, probably before the recess, but tn
nothing of the kind can 90 through Il
Senate without protracted debate, and pro
ably not at all.
Reaction in Favor of Sumner an
Schurz.
There is a strong feeling among modera
Republicans in favor Of opening the doo
of the party 10 Senators Sumner, Sciul
and their associates in the Senate, and
axe such acaton i'm the formation OF con
mittees as shall recognize them as Repub
cans on the committees. Such actl'
would not be taken If il Shall appear ait
consultation with these gentlemen or The
; friends that such course on the part OF {
Republicans would be distasetul TO thel
From the prominence Of those eNpresSl
the desire to see these gentlemen actl
with the Republicans, it does not seem
ifn would be difficult matter to arran
if NIessrs. Sumner and SchurZ do not obJe