The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-04

y
sury but which paid to the Governors OF the
mshouse Department.
The amount raised for schools in 1858 was soV4 00O
Al iooo ''''iNo'oio
Being an increase Of. s622 ,Ols
In 1853 taxes raised account of the Central
Park the Commissioners Of Records, and only sos 408
for State tax-while in 1858 there raised for the
Central Park interest. S265, 100
Com nissioners of Records 1000
state TAX. irz,o'f
Making total Of. 81 ass ,s44
Beng increase Of 81 $50 s3s for these three objects
alone since 1853.
The compa alive increase of of 1858 1853
will also be shown by the following statement
In 1858 the aggregate amount Of taxes s. $50
From which should be deducted the excess OF
the tax raised in 1858 TO supply the dehcien :
in 1854 to supply the deficiency OF ls53.... 6ls5s7
Leaving balance properly for 1858 Of 81 45l ,2s3
or this So 1926 for expenditures within the
jurisdiction Of the Common Council and 81 05S 1888 was
for expenditures not under their direction
Deducng police expenses for 1858 (s6l5, oO0), the
for all other objects under the jurisdiction Of the
police expenses and for objects not within the control
the Common Council in 1883 the amount was sSs.
In 1858 the total amount taxes raised was sso2l
from which deduct above the OF the tax raised
1855 supply the deficiencies of former years over the
be raised in 1859 to supply the deficiencies OF
1855 about 500 600 leaving the balance OF $S,52l OIL
OF this there raised for objects within
the jurisdiction Of the Common Council, and for
police expenses and other objects not under the
direction OF the Common Council SIS $50, 466. 1t will thus
appea while the raised for objects within the
control Of the municipal government have been increased
during the last five years 1904 300 Is per cent, the
taxes raised for objects which the Common Council
have direct control have increased during the same
period So $50 ITO, more than l62 per cent must be
borne in mind also that all the provided for by the
Council in 1858, with the single exception of
police expenses, still provided for by thcm and are
included the statement and that in the compare
statement given above the police expenses OF 1853
added to the items not under the control of the Com
CouDci AT that time.
During this PERIOD from 1858 to 1855, the Increased
valuation OF property subject to taxation has been ISL
Der cent or little than the expenses under the
legislative control of the Common Council but the other
items which they have no control have in the mean
largely increased as TO make the total aggregate
increase of taxation than 20 per cent In connec
ton with this subject may add that while the charter OF
the city has placed numerous checks upon the dsburse
mens Of moneys still left under the control OF the Com
mon Council and which appears is quite the smaller
part of the aggregate raised by taxation yet the
larger part this amount disbused by several COM
and public bodies without any such restrict ons
limitations other than the regulations OF these
bodies respectively, which they may dispense with at
pleasure.
ton the funds raised for the use Of the city government
trust will exercise the powers conferred upon
with that scrutiny which the public interests de-
nand. There several of the accounts in which have
no doubt by the practice Of wise discretion, consdera
BILE saving be effected without in the least degree i'm
pairing the efficiency OF the public service negectng the
Improvement of the city or the of its property.
Appropriations frequently made for work or ser
vices which could be dispensed WITH and extra allow
ances often made beyond the amounts that could
be legally claimed. Although generally these appro-
priatons and allowances for small sums, the aggre
gate for the year adds materially to the gross expendi
lures of the city government BY refusing in all these
TO pass resolutions, and by conhning the ex
pendures within the amounts Of the appropriations
will initiate example Of economy and reform which
will go far toward reduction in our annual expenses,
and example will also be worthy Of imitation Of those
other bodies who have the CONTROL beyond your in
reference large part OF the annual expenditures
In such efforts for reform, restraining extravagant
the full extent Of the powers conferred upon me by
charter OF the city and the laws OF the State.
raj financial CONDITION Of the city still remains sound
and healthful, to be ascribed, no doubt in great
measure, to the wisdom OF the Common Council
as well TOR the payment of the permanent debt,
contracted by the city, as for the interest on the
game Under operation Of this system great part of
the original authorized for the construction of the
Aqueduct and its reservoirs and for the distribution
of through the city, has been paid off, or the stock
issued therefor into the possession Of the Com
missioners Of the Sinking Fund
The following will exhbi, the total debt of the
city the LIST Of January inst On all accounts as nearly
as can determine the permanent city debt redeemable
from the sinking fund rs IL =, ~ 4ooSsS
sioDers .........'.-.'.'..... 44S',Xe
Leaving the actual permanent debt. ... se,ses,67o
The funded debt redeemable yearly from taxa
And bonds OF the county Of New York. 10000
Treasury loan account revenue bonds Issued
in anticipation Of taxes and now outstanding 436S I50
Central Park assessment bonds. 600 900
Assessment bonds ..................:... l,o95 700
Making total Of SIS, 8s2 100
above stated, consisted on the LIST of January inst of
the following iteWs:-
PERMANENT DEBT, REDEExABIE FROM THE SINKING
JANUARY l, 1859
per cent Water stock Outstanding redeema6e o.. IL
per cent Water stock redeemable ia 1890 $500 0o0
per Water stock, redce mabe in 1870. 100000
per Water stock, redeemable in ls75.. 255,6OO
per Water stock Tedeemaole in 1850. 2 l47 900
and per cent Croton Water stock, redeema-
per- cent FIRE indemnity stock icdcema6e in ''''''
. 1865 .......................... 400 1893
per cent Building loan stock, No. g. redeema-
bic in 1870. Observation-Disclosures. $1,000
Bile in 1873 ............................. $4,000
g. per cent Water Loan stock, (new reservoirJ
redcemable in 1915 .................. 29loo
eper cent Water Loan stock, (new reservorD
redeemable in 1875. .................... 1000 900
per Central Park Fund stock, redeema
per cent Central Park Fund stock, (arsenai,)
redcemable in 1898 :...................... 275ooO
per cent Central Park Fund stock, redeemable
in 2,ss2 900
stock, redeemabe in 1887 ........-....... $50, 900
Whole amount .sA 400, s9S
LEN.
Investment by Commission
Of Sinking Fund in city
stocks. OBSERVATION-DISCLOSURES. I'D, IcO.Sb2 W
Bonds and mortgages. 656, 1866 2s-si4S 21s %
Amount unprovided for Jan l. 1853. 50 963 go ~
This debt amounted on the 1st OF January asst less city
stocks and securities held by the COMMISSIONER TO
$lO,773 2e4
It will be from the foregoing statement that during
the past year it has been reduced Ss09,6l4.
This has arisen by the pay ment OF water stock
due the LIST day Of January last 80. -. 80 1881 $40
From which deduct additional stock
issued beyond exchanges pay
nent of such stocks, for Central
Park reservoir. ............ s746,30g
And advances made from the secu-
rites held by the Commissioners
towards the payment of water
stock. PTS, e5o-s2, O22 o5s
Total reduction. $500 OIL 4
The which devoted 10 this fund have Weld
ed the past year the following sums independent II the
and exchange Of and on stoc IS and
bonds held by the Commissioners:
Bonds and mortgages paid of............sil1I "A 90
Fire insurance bond and mortgage ......... 1900 90
Butchers stands. OBSERVATION-DISCLOSURES. 1850 90