New-York tribune., 1871-09-26

The Commissioners OF the sinking Fund also hold
property sold which your rOnmtee also exanined and
which, fast paid become the property OF the Sink
The cassfc alton OF the and the items and
amounts contained In each class Is correctly stated but
the addition faulty and leads to the seeming agge
gate of sg7 2s1 OF Indebtedness. The following IL
The correct stement furnished to me by by the stock
furnished to the subcommittee OF ctzcns:
Statement Of me city and County Debt ut The close Of
business. Sept. IA. 1871.
cty-payabr from sinkng Faud s2l s7s2ls 50
Payable from taxation ............... S.42G,692 VI
.sS4s0a,sos 81
Amount Of Sinking Fund for Redemption OF -
City Debt Aug. p,fg2S3 AZ
County-Payable from taxation T,sl6sOo 70
Net Funded Debt. CITY and Count scs,e9o.s25 os
Cty-Payabe frou A ssessments Tor Opening
and Improving Streets and Boulsvards hl,S2oOO 90
W.-Reprnne Bonds.
Cty-Payabe from taxation. 1871. 400 90
County-Psyable from taxation; 1871 4,639,sOo 90
Special (see chap. 3S2, Laws Of 1870 6,3l2,OO 90
1t will he at glance how natural it paticu,
lary II uDacQuaned with the nature OF the second and
d to Ssn hs frrUr a Sr ~ as
Sinking Fund and cash balance In the hands of the
na xpd here e occurs the error to Which be TO ca
attention OF the Board and through the Board OF
Permanent Det" exhibits the total present ind,bedess
oJhe and County, less the amount Of t600OO in the
Omltting Of 1903 70 OF bonds aud mortgages
taken on account Of property sold and which, as fast az
city debt which still further reduces the Of in
delJtedness to t6Os74.22l n.
pOrary Debt, and Revenue Bonds, are mere legal te
poraly make shiftsin the former case. for realizing
grading, regulating, paving, and haggng streets build
ing sewers constructing bOue In the upper part OF
the city, etc. the several descriptions OF work
toned progresses and returned to the treasury and
the Indebtedness Cancelled. the completion OF the
therefor from the Individual owners OF the property ben
efted-(sendrally except in Of very heavy
latter case Tor conducting the ordinary governmental
departments OF the city and County Governments, for
due In each year, aud these bonds redeemed and
Cancelled yarably within year trom the date Of their
accounts be regarded Indebtedness OF either
the City or County. They are SIMPLY moneys loaned
they lien) individual owners OF property, to pay
for local improvements. and 10 csens In antirpa
mental purposes from tue commencement OF each year
until Decemher when the taxes received and the
The item Of cosn{1sResis" 81 in the third class
~ for % @ 1Pepss Ssas p4oydss 6r @ s5
and asS provided tat ne amount mo- OF such claims
sws eayes Spona eSr
to fund the U ani s S but s
the reauremens OF the of conducting the govern
ment or the city and county, 1t safe say that the
amount viii be funded which will increase the actual
indebtedness to $s s6,22 ~ deducng the amount OF
the bonds aud mortgages held by the Commissioners Of
the Sinking Fund and cash balance In hands Of Cham
beran or te9 OOs2S Os by accepting the statement OF
the stock clerk aud entirely emitting them from this
calculation, being t2s2s 100 90 ess than the published
statement VI the Citizens Committee
Justice 10 all parties demands that this statement
should be made and this explanation given Of the SEEM
ing Of the past three in the debt
OF the people Of this city, reported by the sucom
mtee OF the Committee OF Ctzens The actual Increase,
as shown by me behalf OF your Committee, IL sum
Gently alarming, and 1t Ia subject OF sincere congatu
laon that steps have been taken TO the further
acgum OF the debt OF the City and County
erroneOus statements by which the evil s greatly though
doubesa unlntentiOnally. authoratiyey magnned are
greatly 10 be deprecated and should be the
and credit this City have already suffered too mnch by
statsn,ens Of ths character made without authority
In the interest of the general public but ally
with Wow 10 damage the political prospects, OF the