The New York herald., 1873-10-11
COMPTROLLER GREEN.
Interview with the Head of the
Finance Department.
An Explanation of the Statements Made by
the Commissioners of Accounts.

reporter OF the HERALD who called yesterday
at the Department OF Finance had the following
conversation with Comptroller Green:-
REPoRTER-Did you furnish the Commissioners or
Accounts whose report is published this morning
with every facility to make thorough exami
nation9
CoSPrRoLLER-I did. They were free to examine
the whole Department FROM bottom TO top. The
and the result OF their examination are one
thing but the facilities for making 1t were given
them in every way possible have nothing here to
hide. Mr.. Foley came some days ago and asked to
be allowed to see the pay rolls. told Mr. Earle,
when the application was brought to me- to show
him everything he wanted. 1t seems, alter he had
contrasted the pay rolls Of 1871 with 1S73 1t did not
suit his purpose TO give the result
REPoRTER-The commissioners mention the ex.
istence Of certain irregularities in your Depart
ment. Did they draw your attention to these ana
did you furnish them any explanations
CoMPrRoLLER-The Commissioners were over
two months in their examination. They had every
thing at my command to aid them. They made no
report to me OF any Irregularities and the state
ment published this morning OF the results OF the
examination Is the first l have seen from them.
They make the sum OF the city and county debt
within few cents OF the same figure as did in my
monthly report, published over a week ago.
REPoRTER-In the report OF the Commissioners
it is stated that bonds to the amount or $94 034 are
missing from the account Of the Sinking Fund.
How is that explained3
CoMPTRoLLER-There is not single penny miss
ing from the account of the Sinking Fund. II the
bonds are not there to represent the total invest
ments the money Is. The explanation is easy.
Here is receipt Tor $4,000, one oil the different
sums OF which the $94 900 are made up. The man
who owns this receipt may De satisfied with 1t. IL
he has neither receipt nor bond he knows his in
vestment Is perfectly saie because the iact Is reg
antee both interest and principal. II you buy
STOCK, say in New York Central, you are entitled
by proxy. You have paid your money and It's
equivalent must be duly recorded on the books.
The same condition OF affairs exists in this ONCE,
and II, from any casual inability. we ail to give to
the hole er OF stock regular certificate therefor,
the receipt OF the ONCE and its record on our books
sutlces to establish his claim as creditor OF the
city. II bonds are not ready for purchasers re-
ceipts Tor the time being take their place, and
these are afterwards cancelled by giving to the
Is to say, the bonds themselves. The receipt is
fact; the bond is mere iormality. The security
name. 1t is that which you see here.
Suppose bond should be lost or burned, surely that
sented When the money Is paid and the owners
name is duly registered on our books the practical
guarantee is mutual that he has the stock and we
have the money. In accounting for the difference
In dates, between the entries Of the purchase OF
STOCK "a ana tne issue OF nonas, " wnat nave SAD said
been printed at the time OF purchase and were
dated at the time OF issue or transfer man may
carry his receipt twelvemonth and then come to
exchange 1t Tor q bond, but his name on the books
has been good for the interest
REPORTER-Wnat Is the explanation of the
$4,000 taken from the Sinking Fund March 23
1872 2 ana what was done with the interest on 1t
CoMprRoLLER-1hat 100000 was taken for the
OF the city at six per cent, which was paid, OF
course, to the sinking Fund, where 1t belonged.
The difference between the entry Of the amount
and the date of the bond Is OF no consequence.
The Sinking Fund was paid its six per cent interest
all along This was very much like case OF q
money, and took it from the city's Sink
ing Fund allowing six per cent for
Oooks and the bond was matter OF only formal
consideration. This plan OF doing business-whIch
was in use here long before came-will explain
the rest OF the statements In the report. But
have made an entire change, and If you look at the
new set OF books In the Office you viii that the
future arrangements Will prevent these seeming
Irregularities. Interest on bonds will not paid,
after the system is in working order, In the old
fashion The coupons VIII have to be regularly
presented anapasted in blank ledger, so that no
errors OF payment on bonds can possibly occur.
Dae cosS Sa ao system 81 got was ya o wrong m and Irregular but
REPoRTER-Where are the securities OF the Sink
ing Fund keptS
C0MPTRoLLER-In the only place we can contrivc
to keep them-in vault.
REpoRTER-Is this department in that condition
now that new Comptroller coming in could easily
understand and direct its macnineryY
CoMPTRoLLER-There never was depart
Ioen5 men ,hs Ia saSa lion Of connsion as
within the past two years, but with the accounts
that date back TO ten years before took charge.
receive claims every day that know no more about
than the man In the moon. All accounts that
come within the term OF my connection with the
ofiice are easily passed upon. 1 am conducting
the affairs OF the department man might
conduct his own business, and think / may
say 1t Is in that condition now that stranger
coming in could manage it without trouble
REPoRrER-You are aware that there Is con-
siderable discussion and uniavvrable comment
on your management OF this department
CoMPTRoLLER-I am, but suppose the truth will
prevail In the end. did not seek the Office It
was thrust upon me, and when the people call on
me to surrender 1t, l shall leave 1t with the con-