, 1862-04-09


" lnvincible'.' doughfaces. ANY port in a
storm.
The City Finances.
The City Comptroller, at the meeting Of the
Common Council On Monday night, at the re-
quest Of the Aldermen presented the follow
ing elaborate and very able resume Of the
condition Of the city finances for the current
year:
Ib Tie Mayor and 41de7men Of the C4v Of Ch;-
cago, in Common Council Assembled:
In response to the resolution OF your honor
able body, passed at its last meeting, direct
ing the Comptroller to inform you ID relation
to matters Of finance pertaining to the close
OF the last municipal year? would state
that most Of the information asked for is
given in the inaugural address Of his Honor,
tie present Mayor, aud in suudry reports pre-
sented 10 the Council; and the whole will be
found in the annual financial statement which
will be in print in day or two. But, as you
ask fer it il separate, concise form, cheer
fully comply.
The fiscal year commencing April1, 1860,
started with not~a dollar in the treasury to the
credit Of either general o. special funds, but
with a funded dcbt Of $50, 600 and large iloat-
ing debt Of previous gears to be provided for
during the year, in eone way. A statement
presented to the Common Council, April Is,
1850, showed the amount to be $405. .518. 81.
Increased By action Of the courts during the
year, ordering the back pay Of policemen. fire.
men, and other debts incurred by Street Com
mlssione1s IN 1859, also other claims allowed,
so as to amount, as shown by my financial
statement printed February 18th, to $514,-
916 50: As there was no power to nav this
large debt during the year, either by funding,
taxation 1 Or other wise, the only way open was
to extend it for year and get power from the
Legislature at It's session to fund the amount.
an ordinance directing the issuing ofceEtit-
Gates bearing ten per cent. interest, payable
May LIST, 1851, for all outstanding Indebtedness
On the e first Of April Of that year, was passed
Apr1l 2Ith, 1850. Not one was Issued for any
indebtedness incurred after that time, but the
its income from taxation, licences, fines, etc.
TheTe being no money in the Treasury April
Isl, le6tl, and no way to get any except re-
ctlpts from licenses, fines, and other misceua-
neons sources, the monthly expenses IL
CURED on account Of General and Special
hand n being paid, as the receipts did not
equal the expenditures, July 1st. Interest had
to be met from same source.
In October the Tax Warrant was given to
the Collector, but as usual the Collectors
were limited until the 2nd Tuesday in Janua-
=. n that month interest had asain to be
provided for in New York, so re could not
meet payments promptly until February,
when receipts and expenditures we're about
equal. It was not, however, until the closing
up Of the tax sale in April that we could be
certain Of any excess Of receipts over expend-
hnres, IS there are always returns made Of un-
collectable taxes, deductions for error, &c.
and sometimes the city is obliged to have Ger.
tltlcates struck off to it, which for the time
must be paid from the General Fund. thus
using up any surplus.
April - 1861, presented the following
communication:
70 The Noyo1 and Aldermen Of The CITY Of
Chieago III Common Council assembled.
The undersigned would respectfully repre-
sent to your honorable body that the amount
of tic General Fund saved after paving all ey-
penseE Of the fiscal year ending April /, 1861,
In accordance with an order passed by the
Council at the meeting held March IL, 1861, I
have set aside to pay for the two new steam
crs for the Department, &C, ,00O, and have paid
Of the old Indebtedness, as per same order,
the following amounts:
To school fund. eas I'm *
To school tax fund d..-. = a7S n5
To reform school tax fund ....,..,,, 1885, G5
70 special assezsment and deposit fund. 9a5f 6
Tota1~...'.. ..................... .......6s, ,1s4 a
This communication WAS accepted and
ordercd filed. The amounts due these differ
ept funds, were as much the debts Of the city
as any other could be on the first da5 of April,
ts, teeo, and should have been paid then; but
the1e Was no money to DO it, aud the only
yanclng from the general fund, from receipts
1rom ON licenses, ana other miscellaneous sources.
Ihe board Of Education and the Board ot
Guardians Of fReformSchool we're consulted and
eoneufred IN the payment Of their respective
1unds. ana 70 prevent these funds from
mlneang Win the general fund, as they had
EYER oei0fe done, an ordlnance was pass
ea april I'd, 1851, directing the Treas-
urer to keep them in separate bank ac-
count at tne Marine Bank, and all warrants
pe1ofe I,ald on school lax fund were to beap-
pIosea y Ihe PRESIDENT OF the Board of Edu.
fatt9n' ~ ~ ooa On me Heiorm School Tax Fund
ny the PRESIDENT OF the Board Of Guardians
Inc amount paid over to the School Fund was
1i9n ls2 oN WNnaia2g privilege mortgages, paid up
{St."u pala IN March), which the Common
20 Iounell had before ordered me- to pay over to
ha tae eenoot : una, ont untl! this time there had
oeih I,aro ~ moass 1,sa 70 90 So % VIA; ;,
haFe paft1e eulariy detailed as above, as II
| seems to nc that the resolution convcFs the
IMPRESSION that mere we're suplus funds al
during the year which might have been used
lor payment ol all Indebtedness; whereas,
were only sufficient to meet the mo moutbiy iSless ex:
peDSeE and funded debt interest apd al roon
as the surplus was ascertained, it was aDplied
to The 1aPmcnt of Indebtedness tn thc f5,nG
which otherwise would have had to have been
deposited il tie Bank %as current a. nv fnnda oae my
| 70 arrangement was ever made With fhc hanE
In rcrarI to rccrrins1 ~ 1ar;no n,.4 'nG haa rh
was no doubt faIt at that t;nna hnt +b,t n,,r
ron+ Frr3r .Is - - slu1e put tAat cur
ther a11Tsys fod hoe, oe pa'4 oav ana asea a
ever made hr tbo c;tr n 5o,t; s;aGut s;1sas W.
Tba Tai1a.t5 ~ .uS st.y ~ aeposl1lng LIS tundS.
Eon1d tala ~ ,;1 eeu ,,d th Wal Tue lfeasnrel
tt4 mpto tshg OF mm1 ana the treasurer received
WA. tue nanA ~oaio take OF him, without
never deposited other tban i enrrsnt tha. sne
Accordingly, in reply to lie fIrst nunrv
would say that there was no uncurrcnt or dis
u ~ ianus, taat wele aeoS.ted as such, left
~ t4e 1ttasuft IL lae Close o1 last year 5 ad-
June "A, 1861 in reply to resolution ri
the Common Council I submitted tba foIIoa-
statement; 'A1S -''4' "
Thc cftv of fh;coro hoe ~, ao.-:s x.-,
its TreasI'-or -. 1lG1 =; ~ on oeposl!, through
rIne ana w. ~ ,ue nanA u lug Chcaso Ma
To credit @ ~ = <<sa1 Insurance sl1i COMPANY
TO credit Of School taq ma uds nono acc 3:
*sa7.ss7 IA heinc h.,aneo -. 80. ol''as'@s
raised by special ta5 of isso. VI e'n0'' LAX 1ond
| tn c1eait IF refor,, sohoa,
:. csmetcrr v, una iuna 's!s m =: g
:. :. special DEPOSIT ann asaaas. o'as'.ol
1nent fund .. .....ss., 1o,n7t n
Above stand in the namc of r. n IT,
Traasnro, =" %ne 1alAe VI ~ IL" aNnt
NJ tha n,aa;t - .h
Ward eehoo1 ~ arcnt ent eenoo iono D u: .aa axs K.
There Is aleo on d.nosft tn the crn3;t ~ so'%0>2
General Fund Account, CITY Of Chicapo.
G. H. Hunt, Treasurer. (being receipts
since neSal yeaE eo1nnenced] at Hof-
man d eseipckes. .--......---..---,.-.. 9,s16.a4
{The above amounts Eere an danoa;t ~
credit Of city at the close Of the list muuicips]
am informed BIZ the Marine Rant thai