New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-04-07

Next to the Treasury of the United States, tho
formidable in the country. The total receipts in
1856 were nearl, S2l, 900, 900, ard the dsburse.
meLts 500 500, GOO. The valuation of real and per-
sona estate in the city for 1856 was S5l2 900, 900,
which at the actual market price would undoubt-
edly reach S700,00 600. The large operations of
the Treasury represent certain peculiar transac.
tons known as trust accounts. These are tempo
rsry loans for special purposes, to be returned by
local tax. For instance, the Bowery extension
costs $500. 900, which is assessed upon the prop
ert, imme diatey benefited; but, in order to DO the
work the Treasury advances the money to the
contractors, relying upon its subsequent collection
uneer the assessments. This opens an account
sgainst the city apparently, but really with the
small district affected by the extension. A hun
dred such special improvements, aciuding Sc xers,
paving, grading building wharves and public edi.
fees fencing lots and similar special affairs, bring
the trust accounts up to large figure. The
largest portion, however is revenue bonds. These
boIds are simply due-blls to raise money in
advance Of the collection Of taxes. TIE
city fiscal year commences in January, but
the taxes are not collected until November The
Controller, therefore, to meet current expenses,
borrows On Revenue Bonds nearly as much a. the
total product Of the taxes. Last year he borrowed
eight millions, which is credited 70 the city as re-
csip..; and this year the bonds will be paid aud
CHARGED as debt This is the theory Of all the Trust
accounts which seem to be so difficult fpr the peo-
pie to understand 1t is continual ADVANCE By the
city of II Grey which is to come in hereafter; and
under these advances the city lie constantly 10 debt
from ten to twenty millions Of collars; bu. the re-
de1pption is immediate and sure, and tie interest
expenses are believed TO be mere trihe compa ed
with the advantage Of having money to 90 on with
necessary improvements
The ac,ual permanent debt Of III, city consists Of
about $4,000 600 CIotoa Water stock running
from 1853 to 1890; S4O2 900 FIRE indemnity;
$500. COO building loan; $4,000 Central P,tk
fund.- in all Sl4, $50, l56. The sinking fund holds
sgainst this nearly ST 0o0,O OF stocks, bonds aud
mortgages. reducing the debt Of tie Sinking Fund
TO less than Ss,5OO,OO0. There is beside about
-. 500. 900 Of debt redeemable from taxation and
assessment. making the entire liability above
means low in band about eleven millions. All this
is distinct from the ordinary expenses Of the city
for light, streets, police, salaries and the current
claims Of Government. This, which ia known a.
tie City Government accounts, is the branch in
which rascaGty and swindling taxes are rife.
To meet these expenses, We have the general tax
upon 81 the real AID personal estate Of the cty-a
"a. intao4udept Of and additional to- all local i'm
psov.mspt assessments. In 1855, the sum raised
b, oerersl tax was over seven millions of dollars.
The prir cipsI items Of expense are: 1925 900 for
the poor $500 600 cr stitet-ceauinE, 1850 900 for
interest S4OO eco for light SS2S 900 for Police.
S4OO COO tor sslsres, $3.50, 900 for last year. ar
Iears, $40 900 for laying wa,srplpe., SIS 600 for
p,iL.iie. $40 000 for the Fue Department,