The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-24
THE CITY CHAMBERLAIN AND TIE CITY
DEPOSITS.


OFFICE or CRY CHAMBERLAIN Oct IL 1867
Hon. JOHN I. HorFAAs. Mayor of tho city or New
York: -
DEAR SIR have received your note OF to-day do
think my position regard to the interest,", on tho
public moneys IL misunderstood stated explicitly, in
my recent communication 10 the public that had no,
received or applied to my a single dollar
beyond my salary. II had intended to my own
any interest other emoumsnt derived from the city
and county funds certainly would have made the a-
preparation before this time. As then stated every
dollar paid by tho banks OF deposit had received
by my deputy who has kept special account of tho
same applying the amount as far necessary 70 tho
payment Of salaries, as provided by law.
The first payment OF taxes during my term COM
menced In the early part Of the present month OF 0c
tober and the amount in my hands has therefore, only
become OF comparative magnitude during the last few
weeks Accordingly it seems TO my returns OF this
tho only important period OF my term will be suf
fc ent and the most appropriate this subject
II s needed and II any portion OF the public have
been left In doubt tho result will be pleasant surprise
TO them. am willing to wait until then and do not
think any Misrepresentation in the meantime viii DO
OF any consequence. But infer from your note that
you desire that the public should DO furnished with
explicit statement the subject Ii correct In
this Inference, IL may not be out OF place in this
nection make brief reference 10 the general sub
Ject while stating the conclusion which bad long
ago determined on.
Tho Office OF City Chamberlain has been in existence
for over half century. II has been or special
porancs for perhaps than thirty last past dur
ing which period It has been held by OF the
prominent bankers and merchants OF our citv Not
or these gentlemen ever made any return to the city for
Interest received on the public moneys, for any
amount whatsoever derived from Their use. These adj
vantages have always been considered the legitimate
emouments OF the once In addition 10 this until
recent period when a fixed SALARY established by
law to the Chamberlain County Treasurer he received
percentage on all paid in the latter capacity
This percentage has amounted to large annually
some $40 600 or $4,000 As ! stated in my published
communication the interest the city's deposits las
always been considered as an indemnity 10 tho Cham
beraln TOR his guarantee to thecy against any loss
for standing In the breach or responsibility.
Cornelius W. Lawrence hold the office Of City Cham
beran from 1882 to lS48; Joseph fawr nee from 1916
20 ls4o; Shepherd knapp from 1870 to 1861 Francis
w Edmonds, from 1868 to 1856; Robert Kelly, from
1855 TO 1857 Andrew v. Stout from 1857 TO 1900
Nathan G. Plat, 1860, aud Daniel Devlio from 1860
until his decease shortly preceding my accession to
Office. Neither of thesa gentlemen considered him
self under any obligation to pay TO the city single
dollar derived from any such source II names were
wanted to Justify any act TO the public none stronger
than the most of these could be found Ia the ciys
annals In addition, In order fully TO legaze the
long established custom In question, statute was
passed during the term OF NV Immediate predecessor
which. in elIech fixed and determined the payment
OF the salaries OF the clerks and deputy, and tho office
expenses OF the Chamberlain, the daty
be performed by the banks. These amounts di-
rected to be paid by the banks according the average
monthly balances held by them respectively came
into Office, therefore, with practice csabshcd-a unit
form custom in reference 10 it, emoumentsr without
single exception OF deviation for period OF nftv years,
sustained by OF tho greatest OF the financial
and mercantile world These emolumen,s had become
n matter of clear right Long established CUSTOM
you are aware, creates legal right firmly
press enactment Of law, and tho Customary fees aud
perqulsites of an Office are as distinctly recognized in
this country and England any other official emoiu.
men But in addition, as have shown. tho law itself
expressly confirmed this practice mud custom az half
when IL limited and defined what should be tho
duty of the banks so far the city Is concerned.
entered on the Office Of Chamberlain under some
what peculiar circumstances IL conferred BY you
unsolicited by me. and | accepted It without any bar
gain condition cpcnmbrance. was entirely FREQ to
do as pleased determined. for satisfactory
to myself that would follow in the footsteps Of
nv predecessors and that would not derive any nd
vantage from nv office beyond my salary
l have been led to my conclusion by q very simple
process As a taxpayer would not be sa sfed that
the custodian OF the public moneys should reserve how
ever legally to his own interest other advantages
from such moneys which might he applied to the reduc
zion OF taxation. What should feet MS taxpayer in
such case toward public officer II - quite natural
that the taxpayers should feel towards In the
same capacity under like circumstances. And am
willing to receive great any OF against
the public sense OF right however legally iustiiablo
The time has arrived by the payment of tho taxes
ascertain how much these advantages will amount to-
TIC annual sun has been variousy siafed-sone esl-
mailing II at $4,000, others at lareer amount. do
not care what the amount NAV be- every dollar rad for
interest," beyond the salaries OF my Office will be filh-
fully accounted for and PAID into the City Treasury.
am Informed by nv deputy that the amount received
from the banks thus far Is no more than sufficient to pay
the annual salaries referred to. But whatever fact
the account will show. In pursuing TINS do not
claim any credit satisfying myself and that is tho
best after all, that any can Do 10 Office out Of
It. Nv term OF Office IL four years. Nv adopting
tho course Of my predecessors at the end OF nv term
would DO rich man. rendered far than indepcnd
ent for The balance OF my life; but feel rlcher
independent IN making this sacrifice than could pos
sbly he with money. know that many viii consider
It act Of folly not to have grown wealthy ap-
poinimen,. But l arm content
DO not wish intend to cast any reproach any Of
my predecessors for pursuing different have
shown that they have law and precedent to justify
them.
] did not intend to mako this explanation, but to
leave nv accounts with my previous communication 10
tell tho story But u you consider u Of any Importance
to awe the matter publicity, you do this you
PE Err b. swEENY,
City Chamberlain and County treasurer