The New York herald., 1862-03-11

bodies under date of December o. 1851 (see Board Of
Councilmen Document No. 7, OF 1861 page I3, calod
attention the fct that provision required be
be made for the redemption OF tho s'Unon Defence
Aid bonds the Corporaton issued in pursuance OF the
ordinances or April 23, 1861 and July II, 1851.
No action having yet been taken upon the subject
the Comptroller deems II his duty to remind the Common
Council that portion of said bonds will soon become duo,
and that legislation necessary in order to provide
means 10 redeem them at maturity.
The following statement shows tho amount Of said
bonds now outstanding ncludng the additional issue o
10, 1851 also the dates their maturity respectively
Union defence FUND bonds, payable lst May
Less amount already redeemed ss,sOe
Volunteer sodiers' family aid fund bonds '''''-
Volunteer s ldiers' family aid fund bonds,
No. 2, payable lst February, 1863. 100000
Total ........................ 81 ,sse 200
ordinance passed April % 1861 provides as follows:
Sec payment of said bonds, and the interest
upon the same The faith Of the Of the city
eeSeG from the state OF New York or the United for
ance of this ordinance hereby soemny pledged the
Comptroller hereby and required to redeem and
cancel the said bonds from time TO tme at or before tho
maturity Of the same.
The subsequent ordinances Of July and December 16
1861 authorizing the Of the Volunteer Soldiers
Family Aid Fund bondsp y each contain section In the
words as the above.
This section implies expectation the part of tho
Common Council that at least portion Of the money
would be reimbursed to the Corporation.
1t being quite uncertain whether the State will consent
to reimburse any portion Of the amount also whether
anything will be received from the United States in time
TO meet the Union Defence Fund bonds," due on tho
1st OF May next the Comptroller recommends that au-
thory be given to apply to tho Legislature Tor the pas.
sage OF an act empowering the Corporation TO borrow
upon the credit of the city such may be neces
sary to meet the amount Of said bonds which may be
outstanding on tho 1st OF May next the loan to be ro
terest payable semi annually To provide for the pay
men Of the interest the bonds be issued for such
loan which might DO designated as the Union Defence
Fund Redemption bonds" and the redemption Of the
principal thereof tho Board Of Supervisors should be
authorized and required to raise BY tax in each year.
such may be required for that purpose after de-
ductng any amount which may DO received from any
source applicable thereto.
In respect second loan of five hundred thousand
dollars $500, ,O0O) payable 1s july 1862, the whole
Of which applied to aid the families of vol
unteor soldiers, the Comptroller recommends that
thorty be requested from the Legislature the
whole amount, with interest thereon by tax during the
The third and last loan of five hundred thousand dol.
lars $500 00 payable LIST February 1883 with the in
terest thereon should be provided for by tax, to bs
levied and raised in the year 1868
Should the foregoing recommendations be adopted the
burden will be distributed over longer period and tnc
will be afforded to make reclamatons upon the govorn
ment for such amounts as shall be deemed just and
proper:
law containing the several provisions above suggested.
which is herewith respectfully submitted for approval
ROBERT T. HAws, Comptroller.
On notion it resolved to have 500 copies Of the
above printed.
TIE HON. GEORGE BANcRoFr's GRAFTON
resolution Of thanks (being a substitute for ono
offered in the Board Of Aldermen by Alderman Farley)
to the Hon. George Bancroft, for "compyng with tho
request Of the committee having Washngons Birthday
in CHARGE next brought before the consideration Of
the Board
CounciImen and HOGAN strenuously opposed ms
passage Councilman Barney said that Bancroft
aboltionis and as such he was not favor Of passing
him vote Of thanks
Councilman HOGAN here and moved tho following
resolution, which excited some merriment:-
Resolved That the thanks Of this Board be rendered
to the Hon. George Bancroft for delivering abolition
speech the cooper Institute Washngtons birthday
Councilman GROSS said he aid not agree
with the gentleman who proposed that reso-
luton. He thought II was wrong to censure
| the Committee in that manner they might
have of the pursued by
Mr. Bancroft. He would therefore offer tho following
which he thought they should pass
Resolved. That disapproy0 Of the abolition speech
delivered by Mr. Bancroft and also his attack Chief
Justice Taney.
Councilman spoke in Of tho resolution Of
thanks to Mr. Bancroft and set forth that geutlemans
merits as a great historian, &c.
After further unimportant remarks, the subject
was laid on the table.
The Board then proceeded the transaction Of some
routine business at the conclusion Of which they ad
jourped to Monday evening next