New-York tribune., 1873-01-01
THE CITY FUNDS.
WARM DEFENSE OF CONTROLLER GREENS SIDE
IN THE PENDING CONTROVERSY.
was carried.

WARM DEFENSE OF CONTROLLER GREENS SIDE
| IN THE PENDING CONTROVERSY.
| To The Editor OF The Tribune.
SIR: There ought to be no further confusion
thrown about this simple matter Of the disposition OF
the interest the city moneys, in hot dispute De
| tween the Controller and Chamberlain. Mr.. Green
claims that the interest aecrung upon the Of the
city belongs TO the city, and only be drawn upon the
warrant Of the Mayor and Controller sMr Palmer claims
that he has the disposition Of it, and has rendered no
account for nearly year. though repeatedly requested
by the Controller to do Controller Green looks upon
the present system OF dposng of these sums as special
deposits in banks, which them without paying In
erest corrupt legacy Of the Ring and proposes to
reform il among tho other things he has remedied He
| claims that the laws applying TO the principal
should regulate the interest: and that instead OF
Mp, lPalmer's bank benehting by the interest
city should be drawing interest Oh all It's deposits III
Mr. guardian for infant child should fail to
add each quarters interest its deposits to the princ
pal, he would be justly held untrue to his obligations
II he Controller of the city does not claim that It's
interest too shall go directly to its credit and benefit
he would be justly held faithess 10 his Office Mr. Green
further holds and think he is clearly night IN both
propositions that this money is not subject to the sbso
lutte control OF any single Official And without meaning
to impugn or doubt Mr. Chamberlain Palmers motive IN
adhering TO different system Of suspected origin, DO
say funds of the city ought TO be paid out on any
account except the law provides upon the signature
OF the Mayor and Controller. Mr.. Palmer claims that
he can draw this money upon ms own warrant
which night Mr.. Green denies. In continuing
the old Ring system OF holding this money not subject
toithe Controller and Mayor Mr. Palmer does, City
Chamberlain might also revive with impuny the Ring
method disposine of and for all the people know,
their interest may yet be used fund for the lobby at
Albany 10 saddle Ring upon this city. Such use
has made OF these funds before this and as long as
the present system is continued the moneys may be
again corruptly misapped
The conflict Of authority in this matter will doubtless
be settled in some way by the next Legislature But
any law which does ino iprovde first for securing the
interest deposits TO the city, and fails to throw around
the safeguard which requires that no money shall
be paid except upon OF the Controller and
Mayor will be abortlve and not In coDsonance win inc
reforms the financial department which have already
saved millions OF dollars TO the people and Afforded pro
lection of the treasury. ONE OF THE oEVEhIl'
Neie York, Dec. 81, ls72
INTEREST ON CITY MONEY-IHE CHAMBERLAIN's
VIEWS.
Controller Green sent, yesterday, the follow
ing National Broadway Bank relative to the
interest deposits OF the city and county:
have received your letter Of the 2lst nst In reply
mine OF the same date asking for statement OF the
interest deposits Of the city and county in your bank
during the year 1s72 in which IL is stated that action
inc esay ne and that they haze been await
ing indications Of my views on tins subject since
NV communication of Feb g. 1872 contained a request
that statement Of the interest account on these de-
posits during the previous months OF December ana
January should be Immediately transmitted 10 me, but
have never received the statement requested am now
aso without the asked for the 2st inst.
and beg leave 10 renew request that you wll with
out further delay, furnish me with statement OF the
interest which has accrued upon the daily balances at
the credit of the city and county on your DOCKS during
the year 1874
AS the accrued interest together with the balance Of
principal should stated IN the financial accounts OF
the Department for the year. any further delay In this
matter inadmssibe and unless you supply the nf0r
nation asked for In the beginning Of the following
necessary adopted, 10 compel this being d0ne-or
such other relief obtained the interest OF the city and
county NAV demand. Yours respectfully,
AND. ii. GREEN, Controller
Chamberlain Palmer makes the following statement
relative TO the certificates Of the balances Of public
noneys in the National Park Bank and IN the Union
Trust Company:
The last certificate OF the balances Of in the
National Park Bank was made in the words and figures
following: -,
hereby certify that the close OF business on Fri
day. May 81 1872 the sum of $4,000 was on deposit IN
the National Park Bank OF the city OF New-1OTk De-
-. l.. WORTH, Cashier"
The last certificate of the balances in the Union Trust
Company was OF like date and III the same f0rfn for
the amount of $4,000 This shows that the eercate OF
balances made TO the Chamberlain from Jan 70 June
1872 contained no mention OF any creults or aeuOns
TO the principal deposits in those repositories
These certificates have been filed In the Controllers
Office weekly for past and in no case mas his re-
quest OF Dec. TO- lS TO add interest 10 principal Deen
compiled with.
The Chamberlain denies the assertion that the interest
accrued deposits in those repositories (which have
been closed by of noncompliance with the laws
Of 1861 actually in the Treasury for ii has not been
paid to him. does any record appear upon bis books
or vouchers Of any such transactions.
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