The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-24
The Alabama Award To Be Paid
in Full, but When?
The Question of a Return to
Specie Payments.
The People to Settle to Their Own Satisfaction
the Third Term Discussion.

policy OF the government be wise or unwise, the
affairs OF the Treasury Department will be ad-
ministered by him with all the ability he can COM
mand II the appointment of Mr.. Richardson to
the position formerly occupied by his old chief was
in any degree due to the principle Of civil service
REFORM ct least one good result may be credited to
that now exploded humbug. 1t has given us in an
important national position something more than
mere politicians man who has q conscientious
desire to 40 his duty, and who devotes himself to
the public business with as much energy and sim
certify as he could display in the management OF
his private affairs.
AN AFFABLE CABINET OFFICER.
Secretary Richardson Is not one OF those Cabinet
officers who regard a sort OF mystery and reserve
as a necessary characteristic Of official position
He does not wrap himself up in diplomatic dignity
and curl up the leaves OF his wisdom, like q sensl-
tive plant when'a finger is laid upon him. He evil
IDENTITY regards the business and the policy Of his
important department as the business and policy
of the whole American people, whose agent he is.
and he seems to recognize the right OF any intelli-
gent and courteous citizen to receive all the nfor-
nation he may desire and which it may be proper
To supply. Nor is he over-sensitive about news
paper criticism He does not take offence when a
public journal reviews his policy in an unfriendly
ven but is prepared to set his assailants right if
it be in his power to do At all events he Is al
ways ready to give reasons for his public acts, and
as his nten ions are good and his direct and
positive he does not seem to have much to conceal.
THE SECRETARY ON CAEZARIsM.
Whether the fears expressed by the HERALD as
to the tendency Of the nation towards Casarism
be groundless or not DO not think that Secretary
Richardson will ever be found anxious to play the
role OF Mark Antony for the purpose of retaining
Office He evidently likes the Treasury Depart
ment Tor he Is not afraid OF work, and he Is Of
just the temperament to meet the political Of
the position cavaliery and to turn them aside
without allowing them to destroy his appetite or
rest Still he Is a faithful party man and would, no
doubt willingly occupy seat in President Grants
Cabinet Tor four years from the 4th of March. 1875,
should the terrible calamity OF third term fall
upon US. Indeed he looks upon the question with
q great deal OF equanmty, and expresses the
opinion that the American people, being OF age
when voters, are July competent to decide
for themselves whom they may desire to elect as
their Chief Executive Magistrate, and will no
doubt do so when the proper time arrives in spite
of all that may be said or written between now and
the next Presidential election. As enjoyed the op-
pOrtunity OF apleasant chat with the Secretary
day took occasion to ask his views on the subject
which has been agitating the public mind during
the heated term.
a very effective way to bring about the renomina-
ton and reelection OF any public officer who has
discharged his trust with ability and honesty and
acceptably to the people is to open upon him the
fioodgates OF abuse and to assail his motives. So
far as any danger to our institutions is concerned
II any really threatened, the peple are strong
enough and patriotic enough to avert it. But the
idea is absurd The real power is in Congress-
and the people hold control OF Congress. The
case OF President Johnson is an evidence of the
manner In which Congress can control the Execu
tive. For myself, have full confidence in the peo-
pie, and when they have just sgnalized their devo-
ton to the Republic by pouring out their blood and
treasure freely in its defence 1t looks to me both
ungenerous and unjust TO tax them with ind1er-
ence to republicanism or with q corrupt desire to
sell their liberties to any ambitious adventurer
who may bid for them"
THE FINANCIAL POLICY OF THE ADMINIsTR ALTON.
Finding the Secretary In q communicative and
pleasant mood, called his attention TO the state.
ments recently made in some OF the leading jour-
nails of the country and, indeed, frequently before
advanced, to the effect that the Treasury balances
are made up in such manner as to misead the
public as to the amount of our gold reserve. in
qured whether the whole amount of gold shown in
the Treasury statements as "coin'' was actually in
the vaults.
THE GOLD BALANCES IN THE TREASURY.
''The Treasury statements said Mr.. Richardson
"are strictly and critically correct When l say
this, which do most emphatically, l mean to be
understood that no deception is used or could be
used in the figures to magnify the gold balance
unduly. As o matter OF course, however, the cur
rent accounts OF the Department are carried for
ward and enter into the calculations. The ac-
counts have to pass through number Of different
bureaus, and 1t is simply ridiculous to suppose that
they could be balanced every day, and that the
exact amount of actual coin on hand could be as.
certained. The system OF keeping the Treasury
accounts is as perfect 1t be- and there Is no
possibility Of deceptive statement"
Alludng to the suggestions that large amount
of gold should be accumulated In the Treasury, so
as to enable the country gradually and easily to re-
turn to specie payments, inquired the views OF
the Secretary on that point.
SHALL WE ACCUMULATE MORE GoLDp
the Secretary smiled as he replied THE old
cry,u he said. FUSED to be that the government
kept too much gold on hand; now some are argu-
ing that we keep too little. Most persons seem to
forget that the financial business OF the nation
must be conducted ike all other business, in &C.
cordance with the condition OF the country. We
have certainly prospered under the policy pursued
by my predecessor, and in which I cordially con-
Cured But policy that may be wise and proper
at one time may require modification at another
time. One thing is certain-the government will
pursue such course as is deemed for the best in.
terests of the country without regard to the
wishes OF individuals or the schemes Of specula-
tors No violent changes Of policy are likely to &C.
cur, but as we get further and further from the
war IL 10 but natural that notifications OF our
financial plans should become necessary and desir-
able"
THE NATIONAL CREDIT ABROAD
alluded to the present financial condition OF
Europe, and inquired OF the Secretary as to the
standing of our national credit abroad.
"our financial policy has been warmly approved