New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-01
WASHINGTON PROSPECTS.

auE SA000.000 RESERVE NEEDED FOR GOVERNMENT
ExPENsEs-THE GOVERNMENT HARD UP
WASHINGTON, Sept. 30.-It has at last been
developed that the President did speak lightly when
be allowed TO be understood from his letter to Messrs
Claim & Anthony that he would the SiOOOOOO re-
esrve II 1t should become necessary Secretary Rich
rsOn had said several days before that the reserve
would only be used for legitimate expenses OF the Gov
ernment, and not for the purpose Of influencing the
panic. Your correspondent applied to the Treasury to-
day 10 ascertain the amount OF currency in the vaults
and found that of the close OF business yesterday there
was 10000 1t impossible that there should be more
to-day Tho first quarter OF the present fiscal ends
To-day and the expenses for Indian supplies for foreign
Bervoe and nearly all the Civil Service for tho quarter
Is DUE well advances necessary for the next
quarter BY competent authority it is estimated that
eOOoOOOo will be required for the quarterly payments,
(which must be made during the next week or 10 days.;
Ind the question asked Where is the money to
'front.' there being less than S?.5OOO0O in the
Treasury. None need be surprised, therefore,
50 leaTD, A-beiorA-- thu week is over, that
tho Secretary of the Treasury has put his hands on that
Oney and drawn from it's vaults TO be followed, per-
baps in another fortnight, with the information that
currency still This in face Of the fact ascer-
tanned from the Treasury that the present importation
of sovereigns from England will reach in value 100000
oOO additional fact that they will be at once cast
hn;o United States CON- and that all the minis will be
sdriven to their full capacity during the next three
pnonths. principally in the coinage Of silver.
an IMPROVED FINANCIAL FEELLNG-HoPEFUL RE-
PORTS FROM ALL QUARTERs-ANTICIPATED RE-
DUCTIoN IN THE PUBLIC DEBT.
WASHINGTON, Sept. 30.-There is an i'm
proved feeling in financial circles today. The banks
aud banknghouses outside the combination doing
an increased business while those in the combination
re doing nothing more than certifying declining yet
10 cash the smallest checks FAINT, Washington &
Co had paid threefourths Of the dopOsOrs last week.
when owing to their inability realize ample secu
F.tes they were obliged to suspend payment. An ar
rangement has been perfected with the remaining de-
posors by which they expect soon TO resume business
spatohes received By the Controller OF the Currency
khis morning from New-Oreaus, Chicago Salt Lake. and
other oos Of the most hopeful character aud con-
fyev the impression that the panic IS at an end.
10 is said the Treasury Department to-day that the
Department statement tomorrow will exhibit fair re-
-ductiOn the public debt, Notwithstanding the rev
the month have been comparatively very light
Tne Treasury disbursements for the usual expenses OF
Government for the month ending to-day have been
less than the average expenses Tor the last hree OF Tour
months.
Treasurer Spinner viii respond to the request OF the
National the payment OF the interest on their
five gistered stock in the Treasury as
security for circulation and public deposits by sendlng
checks for the OF interest due the LIST Of
November such bonds less rebate at six cent per
Hnnum. The Contract Bureau OF the PostO hce Depart
tent WILL Tomorrow deliver to contractors or .tner
agents drafts the United States Treasury amounting
s. IN payment for postal services during
now here IN person 20 receive their money The pro-
ceeds Of these drafts will doubtless 60 at once into crc
latOn throughout the country, aud materially help TO
relieve the monetary striDgency