William Adams Richardson

William Adams Richardson (November 2, 1821 – October 19, 1896) was an American lawyer who served as the 29th United States secretary of the treasury from 1873 to 1874.

His tenure was marred by the Sanborn incident in 1874, which involved favoritism and profiteering in the collection of unpaid taxes.

He was later appointed a judge, and subsequently the chief justice, of the United States Court of Claims.

[7] Richardson responded by controversially releasing $26,000,000 in paper money reserves in an inflationist measure to help alleviate the effects of the general panic.

[7] Richardson secured the $15,000,000 award from the Alabama Claims through the retirement of United States bonds held in Europe.

[7] The post-war economy had expanded so quickly that commercial banks became nervous and began calling in their loans.

[7] Such cycles of expansion and panic continued for the next thirty years, however, and were the basis for the creation of the Federal Reserve in 1913.

[7] Richardson's tenure was marred by the Sanborn Incident, which involved favoritism and profiteering in the collection of unpaid taxes.

[1] His service terminated on October 19, 1896, due to his death in Washington, D.C.[1] He was interred in Oak Hill Cemetery in Washington, D.C.[8] Concurrent with his federal judicial service, Richardson was the editor of the Supplement to the Revised Statutes of the United States from 1874 to 1891, as well as a professor of law at Georgetown Law from 1879 to 1894.

Bureau of Engraving and Printing portrait of Richardson as Secretary of the Treasury.