, 1860-08-14
THE CITY.

oltJ F1oancea-Hes1ago Of the Mayor.
10 tAs Aldermen of the City Of Ghie1go:
1enc!oae the Report of the City Comptroller,
covering the receipts and expenditures for ouo-
third Of the present municipal yesr, conmenc'
ing with the 1st Of April and ending with tie
lst OF August, four months.
It vii! ba seen that there has been collected
n that tins, from all sources, the sum Of 37a,;.
6o2oo This has paid a!l the Liabilities Of tho
CITY up to that time tccruipg in the present mu-
n1c'pal year, excerpt the snall sum mentiout d
oy the Comptroller Since that date. enough
haA been received to meet the sum excepted.
II Is now safe to say that the liabilities OF the
CITY to august lst will all be paid oat Of meahs
otnef than taxation, leaving eight months, OF it
may be, perhaps, in the end, only seven months,
to De provided for By taxation.
donr appropriation bill for this year amounts
to f507 1854, and you can expend money fer
no object not embraced in that bill, nor can Jou
expend larger auua for any object than il sre-
cited in it.
From pr sent appearances, estimate that
our receipts from licenses, fines, and other incl
dental aourcea. will bring the amount to b
raised from taxation TO not less than 5000 .oo3.
me lamp district appropriation WAS estiua-
ted at f45 .2e9.14. Three-fourths Of this sum.
$S4,o 600. is to be raised by special tax upon the
lsnP district, leaving abou. 1865 900 to be ls'ied
Ao39H6I4CAk
Assessors hare returned, and which will ba
brought up for confirmation a: your next regu-
iar meeting. The valuation Of city property
AT year WAS &a6 6,55s. 900. This year it will b
about the aame
This will require tag of ten mills, which, the
sHell the tax for general purposes to Al
miiIa, whereas the charter only SLOWS cf mills.
We raise Echool tax Of two mills, al If
which must go to the school tax fund.
ne raise beverage tax Of two mills, all of
which NUT 90 to the sewerage fund.
we raise an interest ta1 Of one mill, all Of
which must 20 to pay interest.
We raise Reform School tar Of Que. half .
mill, I'LL OF which must 20 to the Reform School.
Here Is tax Of five aud half mills, which
we are obliged to levy, and not cent Of which
can be used for any other purpose than that
specified in the charter.
Beyond this we can lerF tax Of only 81
mills Thus We are enabled to tax our citiz:us,
thls5 ear, only nine mills, without any power to
borrow money.
No. to leave floating debt at the end Of nv
administration, which l should regard serious
calamity, have, in company with tha Comp.
troler, .reTised all the estimates Of this yrar.
Ano. t:king ne hFst four months as test, I
nua satisfied that the city government can be
carried on for the three aud one-half mills al.
lowod by the charter for general purposes, aud
not leare one dollar Of doauug debt upon the
irst OF April, 1861.
The city taxes for this year will be onlr nine
mills, and not one cent Of borro wed money will
hare been expended dur1rg the year, ~ sus.
taining policy Of this kind, at time Of gene
raj depression, owing to the ta,lure OF crops tor
two Jears past, you not o1ly confer favor upon
your constituents, when they most need 1t. ba,
taken in connection with the present prospects
OF our abundant harvest, you do an act that
will tend more than all things else to invite
capital to your city. Nothing tends so much to
drive capitalists out Of our largo cities as pro-
aigate expenditure of public money, aud the
consequent increase Of taxation.
The entire funded debt Of our city upon which
the interest has been aud will be promptly paid
is s4s4 900.
Of cur floating debt, which it is the intention
OF the city to ask the next Legislature for au.
thority to fund, the SUN of 1886, ,7TT3.73 las
already been provided for until April or Nav
next. There will become due, Of debts con-
tracred prior to the present administration.
during the present year, 1859 60. This will
lie provided for until 1st Nay. 1sGl, making the
aoating debt, which WE shall ask to fund.
amount to SALE a,363.33. To this must be added
ayear's interest ut ten per cent, making the
whole, $452 600. There ire few saits, oriei-
mating iron causes prior to the present admin.
istratloD, yet pending in our courts, which NAV,
in the end, add small amour. to this sun.
Our Indebtedness then may be estimated as
follows.