New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-06


In estimating the aggregate debt OF the Corpora
ton i is rot customary To- indicate the temporary
Oans, for the reason tLat the cy holds a.ses Ia me
form Of ssment liens, uni aid taxes aud cash, sur
fCielt 20 et them. EXci lolh9 ttese ana deduct
Ip The amount of the sinking fund from the funded
debt we ind that the net amount of the Corporation
d~ht on the 3lst day of December, 1867 wa SID
3Oj COB -, A. against i5,52l ,29l Y on The 3lH
December 1861.
Bat for Il 6 nnususl expenditures connected with
the WAR; there would have been, urder the accutnu-
l.tions OF tbs sinking fund, considerable diuind-
ton instead Of slight increase IN the city debt
During the year tLere has been paid out OF The pub
lie Treasury about $500 0C0 in boun'ies 10 iuneers
and 81 10000 for the rehet OF soldiers lama
lies Heavy ms this dran has been uIon our re-
sources the purpOse is so coumeudabe that haVe
a,quesced III lis prophecy. All that the pu0lic nave
desired fait oiul application to the patriotic pur-
poses INTENDED, and the exercise OF proper vigilance
| 10 its distribution.
Ths present udebtness ofthe Corporation, although
large in ii.cf is snail III comparison WIN He ic-
sources Ii ~ current expenses shall continue 10 oe
met 10y taXatin end The Fevenue received from prop
criy owned hy the city. t1us any increase
of Indebtedness the siuhiug fdad and rs nceumula-
lions Will suffice 20 liGuidate the ente amount III
less tha. twenty years from the present time. NO
public securities issued IN tins country, or III any
o. her present stronger guarantees OF certain anu
PROMPT layment; for, IN addition 10 the large sihA
inq fund pledged to their redemption, the Corpora-
ron OWNS productive property, the market value oi
which at "A moderate estimate, exceeds lis entire
Indebtedness. Beside the, the whole private Irou-
erty of the citizens is subject TO whatever taxation
may Dr. necessary 10 make soOd all uehcieh'y III 'ie
other corporate resources
The aggregate value Of taxable property in the
city wag-- ..., 80
Fof th,ear Isol Of Real Estate B8 'H
For the scar 1851, i'o"'o
ro.., ....................s5si 576.o9e
For the year 1881? Of Reel Lsisie
tie ltbS, Irrs0nsl
~.., s-71-o57 rs
The favor,hle exhibit which The financial condi-
non and resources OF the City Government tbus
fairly preseui, should noi prevent our beet efforts TO
diminish is Expenditures. Vast hs As the "cath u
the civ lis taxation for local purl alone Is over
one and L.li per cent on it, entire properly. add
10 this the taAes Tor State and N0lonm IuIpOses-
the latter being rendered both ouerous and Ierna-
neat b, the enormous cot OF tue war; ana We nave
Dn Aggregate which points 10 the ugent necessity OF
rc,rerc1meut. IL all efforts you may make III THIS
direction Won NAV rely with certainly on my cheer
iul and earnest cooperation. One ptacuca step IN
TILE direction pointed out III my annual message
OF last yeAr-namely, the sale OF TIE uifketS
wharves Iers and ferry franchises beionHlus 10 the
city; Or. II Ina; be deened unad disable at present
item IA thorough revision and reformation III Their
mana ement. Under their present mGnheeme
thcv yield the city let revenue o. lees ihdn TWO
Ter cent on their market value VIII Id no more than
n would receive rom them ~ The f0rpl vi lakes, u
they be longed to private owners. The subJt ct Ii
most important one IN its relations TO tne ciiy
fuances, and again commend II ~ the early aud
careful attention OF the Common Council.
| must. al.o, renew the recommendation that
pron.r Il lie be taheu to obtain from the General
Government payment for the advances made by the
tltv at the CO.. me uceueut OF the war through the
Cnion Defense Committee, Tor the equipment ana
trnsror OF volunteers Inc amount IL " h'ue
short OF sSiJ,OO0
have anil red with your predecessors en- tie ques-
ton Of salMies to the city cici,ls. In few cser,
they have recently increased Them, while III my
'rneur tie burdens Of tie war, which ell snould
,e n ,ro rlion TO ,reir means, point 10 the pc
rom, Of dinnn zen IutDer tn4u al Increase.
And would ee,eclally reeousie,. d careful revision
If HE, nr OF rul lpyees IN esch department OF the
Civ Government, with The view Of dlminisnlDs ibe
number in all clses where II may be iolhd pr"o'-
caile without detriuent TO the puDhc seric.'
Mucn Of The rresent activity III burnts' 10 due 10
the stimulus Afforded by our inflated curienoy, mud
bv the large expenditures Of Government. these
caunot be relied ON elements Oi PERMANENT ind
substantial prosperity. They merely serve to pro-
duce temporary ACTIVITY, wllch Is certain 10 DC Ioi
lowed by /. CORRESPONDING depI,ssiOu. In View 81
his ana all other contingencies OF the fniure let us
enter upon our Cfh,isl duties tor the present year
with determination TO svOd all unnecessary eNp'n-
and to sve III all other res ects TO meet TIC
lust eS ,ec,ations Of Onr cousiilu,rts.
/ HARBOR DfFIN>Es.
In Inv first annual ie.sage aud III several subse-
queIt coIHmuui atoms, Lave directed the attention
II ,our predecessors 10 the insufficient deicnses OF
our harbor and have urged The adoption OF MEASURES
Tor increasing their strength. lie subject hae los
none vi its interest or importance. Tie deienses,
1 althoaoh materially strengthened Ourng the year.
ire fiIl too mI eriect To e relied on as an uuihilhg
gale udrd agalntt The approach OF hOslle smp'-oi
va. clad in IrOD. Nothing short Of TIE should
satisfy us In time Of cace much ees IN the presence
OF war ana pubic dauGcr; nOihlnr - should Ice re-
cardcd hv tle Federal Government whose dGtv 1t IS
provide these defentes, ~ commensurate WitA inc
Importance to The nation al large OF TIE sey oil TINS
cty, in which are concentrated us ciic hi@hci re.
sources.
1 During the past year I have repeatedly urged
upsn the lr pee whorics at Washington, and also
upon the Executive Of this Site, the necessity #
increasing tie acnt and garrison 81 TIE Tis II
! tii- harb ~ AID Of having chem in all respects pre-
tarcd tor Immediate action. / nave airo urged The
! imp0nance Of having steamships OF war reaGy iof
service stationed at t1ls port 10 net ~ concert WIN
! tie fonts IN the event OF hostile characterization
iron, the ocean. f. e,War and Navy Departments
have moi failed 20 appreciate the Importance oi these
sryge. iors nor have they omitted proper Efforts TO
carry them out. The work Oh t.e ubtinishtd oItih-
ca ions has made encouraging progress; t'p-e al.
ready COMPLETED have had their armament increased
by The addition Of Improved guns OF heavy chHDeri
ard their gairIs0nr have been strengthened.
J The Navy Department gave authority, rome tine
since 20 Admiral PauldnQ, the dist cd Com
manGant Of the Brooklyn Navy-laid, to keeI al thH
ori one or .oIe AIMED steamers III readiness for ne
non II j. urd rstOod that The Department also in
lends de,aiGnl lor like service the formidable IRON
clad steamer Roanoke now nearly ready to be put IN
commission
| Viii these facts are encouraging, as showing
proures. in TIE night direction, il Is not to be dr
l'uised that much remains TO be done II we would
have, 10 We certainly should have, our habor de-
fen-es in condition Of strength and efficiency that
would insure tie destruction Oi any ho-llo feet mat
should dare 10 approach ITEM. lity Lave never
been brought to that degree Of reliable s,feDg b,
egen q. against wooden spipoof war, Which the in-