The New York herald., 1872-12-31
COMPTROLLER GREEN AND THE BANK
INTEREST.


Chamberlain Palmcr's Statement as 20
the Rank Interest ContrOversy-Judge
Edmonds' Opinion.
Chamberlain Palmer publishes a letter setting
forth the facts in relation to the recollection OF
interest on the city deposits and ITS cause. After
recapitulating the law In regard to the deposits
the Chamberlain says
That law provided for by the banks for
these Banks should py q e
monthly balances, the office Inc chamberlain he
q s ' as from
Snss Sisy %"% @ to hundred iion az" some
81 8 % ssos,s
ance into the treasury Those thus turned over
rS the n when
took the ONCE and continued il and intended TO carry
The Chamberlain then sets forth Comptroller
Green's directions to the banks, forbiddlng them
10 pay the interest as formerly and requiring
them TO add the same to the several accounts and
to hold the amounts subject to the warrant Of the
Comptroller, Mayof, and, when necessary, the
proposition Judge Edmonds delivered the follow.
Ing opinion:-
21 BRoApwAy, NEw yoRK, Dec. rs, 1871
Bank was sesetcd a. one Of The aeposiiores ss
moneys Of the Mayor Aldermen and commonany Of the
Such selection was made BY the the, Chamberlain, and
So should % ssn.
'siss asa sxfry
his ONCE and the balance into !is Treasury
not q snss = as G Gas s
Sy sss S a
DO
tne crcumssa,nccessn s ,nsc ,a,,, h.n .,,,a~.o, :.
All parties for il has not been strictly followed BY any
doe. not direct .nst any n,erss, the deposit; shall
directing % that a @oneys @ ssson upon he
property real and personal in said city and county and
IN ia n f sSun s.s s
Sns n cS made
OF Ss e @ ss II s' B. n %
him Of big clerks and Dep%y .na all O
ss ssa have
cured 70 the common treasury no further % benefit than
and there seems 70 have been mutual Arrangement
amen e aepo s h %
oi the once was obtained from the banks to the amount
II this which IL sought to be broken
SanE ss o the e Of e
Of the Office Of the Chamberlain This cannot legally be
stric, somplianc. with the statute and the demand
rs win he
and a enact ia s% only the Of n
os: e s e large arg
city that no moneys earned BY any OF the bureaus any
OF the departments could be collected by the bureau
without warrant signed BY the Comptroller ana coun
The Office OF the chamberlain is a bureau the Fl.
Department. aud like all other bureaus IL bound
TO collect ell moneys may earn and them into the
s he the s can
bs subject e tns wsrrant Of the Comptroller counter
IN this case would that the Comptroller claims
city treasury and the Chamberlain claims that s not
In the treasury until II Is paid to HIM, and II 10 be-
tween these conflicting claims that the bank called
upon decide
But this does not 70 be the whole difficulty IN the
There Is confusion In the statute, and also in the
Comptroer's notice to the bank, which the bank
called upon to remove.
The statute in speaking Of the Mayor Aldermen and
Commonaty Of the city and county Of New York. and the
Comptroller, In speaking or city and county funds ig
all distinction between city and county and that o.
hccr In rawing his warrants Tor payments and both he
and the Chamberlain In making their deposits do the
same thing.
The funds which the interest earned Of three
different characersCity Funds, under the jurisdiction
q the Common Councils County Funds under the iuris
der the jurisdiction OF the Legislature.
The Comptroller ks city ofDser, wlb special pQysTs