The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-21
New York STATE Fin snoos.


ALBANY, Jan. II, 1869 {
re TEE PRESIDENT SENATE -
sR--I have received from The Senate the following
resolution -
Resolved, That the Comptroller be respectfully re
qcs.ed 80 inform the Senate his earliest Convenience
the aggregate paid during the last year premiums
on coin To interest racipal of tho public debt Of
this state, and whether IN max ng such payments IN
coin, any distinction made among the holders Of
state stock Comproler's bonds other evidences Of
state Indebtedness, ard, Y such distinction was made
tho reason for IT. and also the authority or law under
which scch purchases Of coin were made Also in what
iunas the interest the compirolers bonds patd
and the $500 600 state stock redeemed the past year
known as the Astor STOCK.
In compliance with the request contained the fore
gong resolution have the honor TO inform tho Senate
that whatever has paid of Treasury
for premiums on CON. The payments made An January
and April 1862, made by the Manhattan COMPANY
from the specie and specie funds deposited with before
the suspension Of specie payments by the banks.
For the payment OF interest due in June aud for subse
quen interest, the deposit banks requested
tribute in coin certain per oentage OF the de-
posted With them before the suspension, upon the
diton that all Of them should contribute An Of them
tfty-fonr II nnmbcr-promptiy complied with this
quest for the June payments, with the exception OF
the Bank Of Havana, in Schuyler county, and
Tie susquehanna Valley Bank, at Binghamton.
These banks having declined, and the premium
having risen rapidly, II was found impossible TO
procure The coin Tor the subsequent payments without
purchasing H. But as the Legislature bad made ap-
preparation for that purpose nopremium could be pad
FROM the state treasury. The Manhattan Company, how
order TO protect The credit Of the state offered
make the purchase upon its responsibility 10 the
extent necessary for the payment of the Interest upon
the funded debt Of the State and take upon itself the
risk OF the requisite appropriation being made by the
legislature With the concurrence and choice OF the
miss toner's q the Canal Fund aud of the Comptroller
has made such purchases. The aggregate paid for
the premiums the coin thus purchased appears
by the repdered by the Company was
for canal stocks, f2e 33 81 for general fund stock
S22 ss1 oS.
| am OF any express authority Of law which
4 81 rhldsf Tho
! make such purchases If II chooses to do So
The current expenses Of the state and the Compro.
lers bonds, issued anticipation OF the tax
levied by the act Of April 49, 1891 Tor the purpose
raising troops 70 be mustered into the servse Of the
which were received for the taxes and tolls due " the
| state.
The reason why the Manhattan Company was advised
20 pay the interest the funded debt IN coin was
cause such the practice Of United states Mas
sschusets, nsyivania Ohio, indiana md Illinois, and
such had always been the practice Of New York and
was beieved that the credit, the honor
OF the state required IT, The why the
psnses ordinary Indebtedness and bends
paid IA such funds received because there
we're bo other funds with which they could be paid
There sum known the Astor stock redeemed
during the past year. During the present month Mr.
Astsr has transferred 10 the Commissioners Of the Canal
Fund $3.50 22 %, and they have paid him that
! by CHECK upon the Manhattan Company. II 10 pre-
sumed that this payment Is the one intended 70 be
inquired INTO by the resolution. Respectfully yours,
L. ROBINSON. Comptroller