The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-15
TEE CITY CHAuRERLilEs DEPARTMENT.
Interesting Com municntten from tho Citl.
zcns' Association to MIR. Peter Il. Sweeny.
CITIZENS ASSOCIATION OF New YosK,
tHM sz3 BROADWAY. Oct. IA 1861 |


xcns' Association to Ar. Peter Il. Sweeny.
ClTIzrSs' ASSOCIATION New YosK,
s43 BROADWAY, Oct. IA, 1861 ]
PErER D. swEEAY, Esq, CITY Chamberlain and County
Treasurer or tho city and county Of New York;
DEA. SR-The Citizens Association respectfully calls
your attention " the folowing:-- ~
By section IL OF the charter of the city Of New
York bureau created In the Departments OF Finance
"for reception Of moneys paid into the treasury
Of TIC city, and NJ tho payment Of all moneys there
from the warrants drawn ~ the Comptroller aud
couutersignsd by toe Mayor and Clerk Of tho Common
Counci,n aud Is further provided that sthe chief
officer thereof shall be called tho Chamberlain Of the
city Of New York" &
By secuon OF the act Of 1857 relating to the Board
Of Supervisors OF this county Is provided that "the
Finance Department Of the Mayor, Aldermen and Com
moualsy of the city OF Nav York, and il officers,
shall the Ike overs and perform tho like duties
posse regard 70 the ieca III the sad Mayor
Aldermen and C,ftmouaityr You are the City Cham
so Your ch ocer consi y reeeysr
paid into Treasury Of the city and county
and ~ disbursins the same upon the Comptroilers
BAT, IN fact, these duties I'M ed to opcniug
account with the broadway Bank where you deposit
the puol,c money.
The bank keeps the account and the city Md county
warrants drawn upon you nothing more or less than
checks upon your account IN tue Brcad~ay Bank
In the opinion this Association these duties are BY no
meas onsrous In ths ear 1868 the saary or the CIV
Chamberlain was $40 600. You were appointed City
Chamberlain ths earl, part OF the The
city Law OF 1861 slso allows you Chamberlain
salary $4,000 Inc Assoc alton submits that such
salary anpl, ard should base been satisfactory TO
Ia county ovy law Of 1867 provision giving tho
County Treasurer saary equal 70 that OF the City
Chamberlain, namely. salary Of $40 co., II should be
this provision ed into the county
tax levy Jaw during the last hours OF tue session, and
passedcertanIy IN the scnatewith no actual kDowl-
cdse thai the City Chamberlain and County Treasurer
Individual.
Nor IL a. rs all. The City Chamberlain receives somo
81 coo annually FOR paying over the moasv Of The state
ana annua allowances Of $1,000 rs 81 the
comm ssioacs OF the sinking fund. IL "a respectfully
suggested that annual saiary oe $4,000 ony s2O0o
less than that OF tie PTeadsat or the United Sstes)
should be considered Sufficient compensation for tue
mere receipt and disbursement OF the public funds.
The Association Calls your attention To the current re-
port that or number OF years has been the custom
OF the bank In which the city and coanly funds have
been deposited TO aIiow,the City Chamberlain three
three anu half per cent the deposits the
per eniage amounting tas Of year
slsoooo Az tho cit7 chanbcrian, under the general
hands for the benea. or The Mayor, Alder.
nen and Commonr.sy OF tho city Of New
Iors and he people o. the couaiy the Association
wonld call your attention TO The Law governing
trus aes be leading ia England Is that OF Rat
elas Va Graves, in TIE Hgn Court Of Chapcery, in
make gain out Of lhe ,rast properly, but should
age t for the exclusive benefit oil que trsst.
No prof, gain Or ADVANTAGE shall be derived by %
uussre froa the trust. All tue gaia must 80 10 the
ccsnt fre trust THUS rule 1delIty and removes
temptation. Lord I.oushborough, quoting tins
decsien, approved il and rsed pointed Iangago:
Tie - stem 81 allowing trustee 10 col ec and keep
ilssf"s. on tie money in his hands woua mako the
Office &c trustee csnvassed iorn c dec son in that
5een steadily followed in Eu2land. The same
prineple has been inhexiog adhered to this state.
tlsl5. pnnscomb vs. bonscomb, johnson CHI X sos;
ISIS, schiehslin Vs. stewart, Johnson Gu. 90,
lsI5, Manmag va Manning Jobossn en-. X. 5zT
1872, hlnfcfi vs. Murray, Johnson Gu. r. / 1915,
Utica lssafancs company va Lynch, IL Parses Gu
Il. $40
Although y true the Chamberlain, as such, would not
b. jussiled IN investing the money received BY him
ether tor the benefit OF tue city county yet
whatever percentage profit Is allowed him by the
bank tor the DEPOSIT OF toe city and county funds be-
longs 70 The city ssd county Of New York and the
Chamberlain. Certainly tie iaw woold not tol rate
that the CHAMBERLAIN snond receive and keepto
uss svno $40 600 annual profit upon he riy and
coontv funds wiicu makes hin the ample allowance OF
s2J coo year Tor hs services Ia the keeping and dis
bursement Of the money Tie tact that no proceedings
have yet been taken by the cy on county
for Their the prois or percentage which The cbsn-
berain has received upon ther funds is no excuse
justification Tor him 10 retain such prodi. whether
ceved directly or midi ecY rle apathy on the part of The
city aud county officials is easily accounted for but tbs
neglect on Their part should not give rse TO the impress
sion thai our people are without remedy Ia the
premises. An upright official should only seek TO
bis duty and should perform II faithfully cheer
fuiiy. The assoc alton trust thai member Of tle
bar you will recognize the force Of the princple that
trustee - not allowed to make any profit for himself
from the trust funds 10 bis hands.
Without adyerting to the legal position Of your prcde
cessors aud the gains they may have made Of
deposits Of pubi moneys We desire thus draw your
" the income or profit OF the large deposits the oauk
70 Their credit IL Is clear that such deposits
source o. Immense profit 10 the bank and that the
payers are entitled 10 the benefit arising directly
directly from The use Of tho deposited funds No
meas man can entstnin the Idle supposson that the
osns does not gain iutcres the money IN s hands,
nor seriously doubt that 10 would DO willing
TO ray part Of such interest a. an in
dutemeit 10 the making aud continuing OF
the deposits firm or private corporation having 10
large deposis would deem Il just arrange for
share OF tho returns OF interest," and you the nnancai
cficer OF the city and county controlling this matter.
doubtless have " IN your power TO your prin-
cipas largc yearly sum IN considers ion Of such de-
posita We wish 70 remind you early your admins
usiion that all such gans rewards and considerations
VII Oh proceed IRON the bank belong your prin
cipas not 70 YOURSELF and 10 request your stlen-
tion 70 tbs matter - within the eognlxanos OF
courts OF equity.
The com ara leisure In which the EASY functions
OF your oce leave 20, 10 favorable 10 your sary nocs
Of me public claim xhicb we hereby make The Asso.
CITATION would also call scnt,on 70 the larR bal
Of public funds kepl hand interest," the
public, while the city aud county obiigsd 10 borrow
money, paying seven per cent interest therefor 1hls
system Of Keeping large balances on hand cAnnot fell 70