New-York tribune., 1875-02-08


INTERVIEW BETWEEN TTE SECRETARY OF THE
TREASURY AND TIE WAYS AND MEANS COMMIT
TFF-TIIE SECRETARY BOUND by TIE LAVAL
1rCl,D NFrD OF LEGISLATION TO INCREASE THE
PEvENUT.
fPY TELEGRAPH TO THE TRIBUNEl
WASHINGTON. Feb THE interview between the
Committee of Ways and Means and the Secretary OF
the Treasury in regard to the necessity for increased
taxation entirely changed the views Of the ltepuD
Lean members of the Committee in regard 10 TINS
subject. Previous TO the interview a majority OF
the Committee was inclined TO adopt the opinion
that the Government could be carried on Tor the
ensuing year without any very material increase III
revenue. Members seemed TO have an idea that the
Secondary c9uld use the revenue from customs for
tlc general Durposes of the Government and omit
fer te time being any payment TO the credit OF the
sinking fund. The Secretary, however replied to
various opinions expressed by members Of the Com
mittee that under the law he had no option in the
disposition he should make of the gold revenues
and read to the Committee the fifth section oi the
act Of Feb x, 1862 which is as follows
And DC further enacted, that all duties on imported
good, SHALL be paid in coin, notes payable On demand
heretofore authorzed TO 0e issued and by law rectape
aside q special fund, ana shall be applied as io
lows: First TO the payment OF cou IN interests OF
Ctaso or payment ot one percehtum OF tnt CnuS @ ueU1
the Uurcd ties. TO be made wthu each fiscal year
WulCh l. 10 ne sci apart ~
skng tund, and The interest OF ~lcd sham I'D liz k
IN be ap9rd 70 the purchase or payment OF the
IucIc Cebt the secretary "t the Treasury sh4H iIo
lime 10 time direct rd ;he residue thereof to De pad
mo the Treasury oi 40, Udied StdteS'
The Secretary saiI that while this law had not
heretofore ia al case been complied with, he should
feel obi god to carry 1t out 10 the letter feeling that
Eo had 40 discretion in the matter. at The outside
he could not expect greater gold revenue for the
coming year thdu Sl5J,OOOO)O. Under the above
section Of this act he must lrst pay some Sl8o00O0O
C coin interest and next. account of the Sinking
Fund he must usr $50 10000 more, leaving bal
ancc of Only S22O)OOJ0 which under this section
could be paid into the Treasury for the general ap-
rropria:i1ns of the Government. Adding to these
S22O0lC0O l050OOC00 which it is estimated will be
received fIon internal revenue, the total amount OF
resources al the control Of the Secretary to meet
Appropriations made for the general expenses OF the
Government woud thus amount TO only Sl21,OOO,OOJ.
In any event with the utmost possible economy, the
Secretary regards an increase of revenue from
S31O0t00j to Sflo0lO)O rs absolutely Indispensable
10 meet necessary expenses.
TIE m.!ubeis If the Committee were surprised to
find that the Secretary was 50 closely and plainly
bound by law and the Republican members be-
came satisfied taat the amount designated by the
Secretary must be raised. The Secretary assured
item that when the gold revenues were disposed OF
in accordance with the law, there would not be
money enough left in the treasury to meet the usual
appropratoas of Congress, and that every branch
of the Government would be seriously crippled by
their failure 10 provide for necessary II
j. altogether probable that the President will send
message to Congress upon this subject unless the
WAYS aud Means Committee decides upon the gen
eral features Of It's bill within few days