The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-16

-.
York Ceatral. 70 a u; Erie, sss< X; HUDSON
River 4s1s At; Harlem. 16A Il; do preferred.
37H q 3s; Reading, 40 a a; Michigan Central.
64a< Michigan Southern and Northern Ind.
ana, l4s1 q a; DO. guaranteed, "a q u; Panama.
lis II; Illinois Central, si1I a X; Galena and
Chicago. 66ss a III Cleveland and Toledo, sax;
lington and Quincy, 6s1S 10.
The following documents, showing the position
Of the Park Bank in relation to the appointments
of Mr.. Devlin and the payment Of the public mo-
neys, will be read with interest. We learn that
the Park Bank this morning offered 10 pay over
all the money in their hands at once, in gold ON
presentation Of check, properly sgned and au-
thenticsted according to law. but that thus far
Mr. Devlin has not presented such check, nor
does 1t seem that, under the act Of 1860 he can
do so. II this statement Of the law be correct.
the Park Bank will retain the moneys in Their
hands till they are exhausted; the Comptroller
will draw all his checks for disbursements ON
them, while all the receipts will be passed to the
redit of Mr.. Devlin, in the Broadway Bank
PARK BANK, New YORK, Jan. Is 1851.
Inasmuch animal versions have appeared the
deliver the public moneys Mr.. Deylin upon his
demand therefor il is due tho citizens OF New York az
well 10 the Park tho reason for such rosaI
hould be made public enclose for publication our an
TO Mr. Devn's demand, and the opinions Of Judge
Fdmonds and Of the counsel Of this bank, BY which We
have been governed action the premises Yours
respectfully, X. W. HOWES, President.
PARK BANK, NEW YORK. Jan. Is, 1851.
DANIEL DEvIIH ESQ DEAR SRI have to acknowledge
your communication of Saturday, enclosing from
7. Haws Esq, Comptroller, stating that you had been
REQUIRE the Park Bank to deposit ali the moneys IN s
custody belonging to tho city and county of New York in
the Broadway Bank TO the credit Of the Chamberlain
In answer have to say that this bank t. now, and lbs
at all times been prepared to pay tho balance II
said moneys remaining in it's custody but, am ad
vised by COUNSEL 1t will be necessary in order to
this bank harmless from conflicting claims, and
leve it from liability that the said moneys should be
Withdrawn in the manner provided specifically ~ Aw
R. W. HOwEs President.
TRINITY BUILDING, Ill BROADWAY, Jan. IA, 1851.
The Park Bank has deposit certain moneys belong
ing the city and to the county Of New York deposited
there by the Chamberlain Of the city Of New York. as
And it has had served upon notice from the Comp.
troer that Daniel Devlin is Chamberlain and County
eced by him the depository Of the city and county
moneys And similar notice from Mr.. Devlin as Cham
berlan, with demand that the Park Bank deliver
the Chamberlain deposit in the Broadway Bank
the credit of the Chamberlain, all moneys belonging
And ny hs BANK
comply with such demand. would be safe and justiaa
bio in so dongS
In respect to the funds deposit in tho Park Bank.
the city and county two distinct political bodes and
there moneys belonging to them jointly, or, as
pressed in the demand belonging to the city and
ty" BY the law the moneys belonging to the city
money belonging to the county under tho control Of
tho Board Of Supervisors and tho raised for city
/ and So The Park Bank having moneys in its custody
s the both s a ss snd county Sss
cannot with safety pay them out, except according 70
Law the law has thrown many around tho
to disregard No money can be paid out except on
rant drawn and signed by the Comptroller and counter
csu Inv fhe Mayo nd (1ork oft he
Clerk Of the Board of Superv thus constituting
these three officers check on all payments Of the public
provisions Of law relate to payments Of money Tho
checks provided by law for the receipt and safe keeping
amended charter of 1857 provides that the office OK
Chamberlain shall be bureau for the reception Of an
payment of moneys the warrant drawn by tho
G mptroller, and countersgned by the Mayor and
Clerk VI the Common Council" and that call moneys
erawn from the City Treasury shall be vouchers
FOR the expenditure thereof examined and allowed by
the Auditor and approved by the Comptroler' BY SEQ
ton Ia vested in the Common Council That power in
wolves all legislation subordnae to tho State egsation)
necessary for the proper regulation OF the finances Of tho
city and all persons who obtain possession Of tho city
funds depository hold them subject to such legsla-
ion Accordingly the city ordinances provide Revised
rdnances Of 1859 chap art 81, by section 81 that
The Chamberlain shall forthwith deposit all moneys which
he from time to time receive in Of the
banks in the city of New York; by section 81 that no
money received by the Chamberlain by him deposit
ed prescribed by section 81 shall be drawn from the
bank except the warrant OF the Comptroller drawn
signed and countcrsigned as before mentioned Tho
check on the Chamberlain and hence il Is that he Is
obliged to deposit money soon II is received,
that q bank and not the Chambcrl. ain is
the simple check Of the Chamberlain but only
in the form prescribed by law To that eject also is the
act Of 1850, chap All, that all moneys belonging
to the city county of New York shall be deposited by
the legal custodian thereof, forthwith without delay
he shall under his official bond that purpose
and they shall not be withdrawn therefrom, except as
provided specifically by law ordinance. Now 1t Is
where provided by law ordinance that the city or
county moneys can be drawn from deposit bank
any such general demand as that made II the de-
post is to be regarded the individual deposit Of n
Patt, it'canno be paid to Mr. Devn without Mr. Platts
consent and he far from consenng that no has for
regular warrants, provided by the ordinances n it
is 70 be regarded as deposit Of public money,
IL be paid out only in the mode prescribed by law
ordnance In neither aspect would the bank be ustinabe
would be suppose that tho Park Bank should comply
with this demapd and hand the whole ~ Mr.
nevln that Corporation should afterwards cue
bank for the amount the bank should the pay
ment to Mr. Devlin NJ defence; would that defence be
goodY very much doubt H. on the other hand think
The Of the Corporation the defence would be
complete namely, tha. the bank bad received and hed
statute and in recognition Of the Obligations thereby
imposed on u as the depository and had
paid IT out, not in conformity with their TO
fore had paid the money in their wrong. II
s the evident policy Of the statutes and the ordinances
90 W" gives Douu Ohiy IN vi
$500 600 ct has times millions in his hands so no
shall not be entrusted any farther than absolutely
cessary with the personal custody Of the public moneys
That custody Is limited 10 the time In each that may
eapse between his receipt of the money from the coec
tors OF II and his "forthwith deposit Of It ia bank.
Hence IL the power OF the head OF the Finance Depart
mont to know each day whether the sac and
the Misrepresentation OF them by the Chanbe lain
confined to the receipts OF day thus alone making tho
Chsmberlan's official bond adequate security THIS i'm
portanf purpose be attained only BY strict fidelity
the part OF tho deposit bank TO the obligations imposed
upon such and to that extent III bank IL ON
q the city government and bound like all others the
strict performance OF It's Official duty. For the de-
poelt bank TO recognise such co ltro over The
public moneys Mr. Devlins demand on IL now virtually
assort would be 10 overthrow those safeguards and that
canot be done without involving the BANK the
responsibility Of becoming surety 10 the city and county
that Mr.. Devlin wiz not misappropriate the money.
There Is doubtless danger OF that but the bank
comply with the demand now made without assumin,