National Republican., 1874-05-13

% %. think that man who lays his pave
nlent properly makes less on It than he could
make on the same amount Of time and talent
invested In almost any other business.
want TO call the attention OF the commit
tee, while we are on tizie subject, to compara-
tive statement of the "debts, property, ex-
penses, and public improvemsnts Of American
cities, compiled from official records." Is VIII
be found on page IS Of the report Of 1871
By Mr.. Merrick: Q. At page SO of The test
imony you give q statement marked "Receipts
Of the government of the District Of Coiumbi,
and OF the Board Of Public Works, and the
date Of It's organization, June I, fS71."r You
give q statement Of the aggregate receipts Of
the government Of the District Of Chlumbia
and the Board. of Public Works. The first
item Is IS, ,465, ,006.39. That was money, I
presumed A. suppose 1t Is money. really
DO not know what it Is.
q. Then the third item Is receipts from the
United States Government, 81, ,532, ,S0f .18; That
is money received from the United Statesi A.
Yes, cir; that 70 money.
b. Now WIZ you tell me n there be any
other matter OF money in those aggregate re-
ceipts except those two items, or are not the
rest representatives ofindebtment 10 some form
or anotheri A. No, SIR; that was received from
the District In bonds and proceeds OF bonds
sold. Four millions OF that was in money
received. rs'f 81
O. But that Is representative Of iudebtmenti
4. o, yes, SIR; 10 was bonds Of the District.
Q. speak now of the receipt Of money as
distinguished from the receipts Of securities for
the purpose Of aseertaining how much money
you have received at all during your admins
tration. A. Well, there ID, one item there re-
ceived from 10 per cent. assessment certificates.
That was received 10 money from the sale Of
those certificates. -r
BY Mr.. Merrick: Q. Seven hundred and fly
one thousand nine hundred and twenty one
dollars and thirty three centsi A. That was
money received from the assessment certif-
Gates from personal property. ~
Q. Was there any other meneyed element
besides those thrcel A. No, sir; lido not know
Of any. There may be some others.
Q. Then all your other receipts besides those
are chargeable as matters Of debt against the
District government, although in the form Of
money received from securities? A. Not
against the District government.
Q: The District government and Board Of
Public Worksi A.. No, sir; against private
property owners. Two Of them, the 8 per
cent. special improvement certificates and s
per cent. sewer certifcates-
q. Those are still Outstanding matters of In
debtmentl They are not mooeyf A. They
have been paid; one and one-half millions have
been received for taxes; ono and one-fourth
millions, probably.
q. The sewer certificates and special i'm
provement certificates have been taken upi A.
Yes, sir; and cancelled about one and one-half
millions or one and one-fourth millions.
@. Ofthe 81, 2S6, ,O007 A. Yes, sir.
Q. This is all then. Those four items con-
stitute all the money receipts of the District
government and the Board of Public Works
since their organizationi A. The moneyed re.
ceipts YOU can get very easily. There Is over
eight millions In money and from the proceeds
of bonds.
@. Yes, but do not speak of the proceeds of
bonds, because bonds are still outstanding, and
matters Of debt. I want to distinguish be-
tween the actual moneyed receipts and pro-
ceeds of securities which are still to be re-
deemed In some form or other.
The Chairman. You are, trying to find out
the amount received from the General Govern
ment, and the amount Aceived from taxes in
money.
Mr.. Merrick. Yes, sir; want to sec what IL
all the available money they have received as
distinguished from the proceeds of securities
which are hereafter to be met, and which in
point of fact are still debt although assum-
Ing the form Of money In that statement. I
understand him now to say what supposed
was the fact before--that It. consists of those
four items, first, third, seventh, one and half
millions being proceeds realized from the pay
nent of the certificates as against the prop
erty-
Mr.. Wilson. Have you aggregated iti
Mr.. Merrick. No, sir, have not; but IL Is
| about 81, ,000, 900.
The Witness. The receipts in money would
be about q, ,000, 900. The receipts from bonds
sold to settle up the old Indebtedness, funding
! and
Mr.. Merrick. They are still outstandinsi
| The Witness. But Of course they were out
standing before. They have only been funded.
| Mr.. Merrick. am only speaking now and
trying to get at the difference between actual
money and outstanding obligations, no matter
| what form they assume.
The Witness. But you should state It fairly.
| Here Is about "a 900 900 that existed before
| the Board of Public Works came In and which
had to be funded. 1t is not right to put that
In as something not received in money, because
| that was merely funding an old indebtedness.
j Mr.. Merriek. Still shat makes 1t q part OF
the aggregate Indebtedness of the District oil
| Columbia to pay.
The Witness. No, It does not. By the or
gauic act 1t is made the duty of the cities Of
Georgetown 10 pay them. The District gov
ernment cannot pay them.
Q. 1t Is an obligation as against the people?
A. Against those two old corporations.
O. And they go to make up the aggregate of
| the ten millions Limitation of debit A. Yes,
sir; because 1t was debt incurred before.
By Mr.. Merrick: Q. You have not given any
where in answer to our inquiries tabulated
statement of the whole amount of the in
debtedness of the District Of Columbia and the
Board of Public Works, whether funded or un-
/ funded, up to the present time. A. Yes; the
whole Of 1t is given In this report. l am max
ing out separate statement of the floating
debt for the committee. They have asked
| Tor II.
O. Where is it giyenl A. Give me a COPY OF
that report, and will show you. (Copy Of re-
port handed to witness.)
| Q. You gave statement of the debt of the
old corporation and of the debt of the District
government. am speaking now of the sggre-
gate Indebtedness Of the old corporation, Of the
new District government and the Board of Pub
Lie Works. A. II you will turn to page % OF
my answer you will find the debt Of the old
corporations to be "a, $50 ,189 81 .s.You turn to
page 25 you will find the funded debt of the
District Is 81, ,527 $50. Now, If you will turn
to page 463 you will see there the sum OF
| s4g7 $40 SO, which was the Indebtedness of the
District government on the day Of the rendition
| Of this answer. That was the floating in
debtedness of the District. If you will look
just below you will find the liabilities of the
Board of Public Works at 81, ,552, ,95S. .76, from
/ which you want to deduct securities on hand,
balance due on account of general sewerage
and assessments, aggregate about 81, ,000, 900,
1t Is all in detail there.
@. That don't come down to and include
| what Is stated in the account of outlaYs by the
auditor of the Board of Public Works, as given
here a day or two ageI A. Yes, sir; it includes
everything.
@. That the amount given by the auditor, II
understand It, does not fully represent all the
ascertained liabilities up TO this time, for the
reason that the contracts which are in process
Of execution, while certificates of settlement
have been made for the amount of work done,
yet 20 per cent. has been retained upon incom-
pleted contracts to the amount already done.
A. Only q small portion of them.
/ Q. Twenty per cent? A. No; only q small
portion of them; most of the contracts have
been settled for-brick pavement and things
of that kind. The times for which the per-
centagc has been retained have expired and
been paid.
Q. Have you any idea of what amount that
20 per cent. will aggregated A. 1t will aggre-
gate very little, because, as say, the contracts
specified this 20 per cent. shall be retained for
q certain number of months. In many in
stances this time has elapsed, and the final set
tlemenE has been made.
By Mr.. Merrick: Q. Perhaps I had better
ask Mr.. Lay; he can answer directly.
The Witness. Yes, sir; he can answer d.
rectly. p - p
The Chairman. While upon that question OF
the floating debt, I wish you would have a
statement made, showing separately the
amount of auditors certificates still outstand-
ing. A. That is stated in this report.