The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-29

Misrepresentation Of the
Sinking Fund.
The Canal Board = Combinations by
the Senate = Resignation Of
m1 a, Mayor Thaoher.

Hrfrr+ F'l' A.N IINaI NF'fIT
the Senate = Resignation Of
m.gl Mayor Thaoher.
,Vfu.l..l- ---- 3gA sMl
ALBANY, Jan. o. 1874.
N, eesslon In both houses was remarkably dnll
TO-DAY, and vsry little OF interest transpired be-
Sond the ordinary routine. In the Senate this
nosning Mr., Coo introduced an act to amend tho
acs 70 constitute the n iamulq s0,asr ass.a
D., KM0s COUNTY OHARrrIEs COMMISSIONERS. i.
BY Il tho Commissioners are constituted corpora
ton, and retain their management OF the county
insttptions, subject 70 the control OF the Board
u ,SupervisoEsy They are made trustees Of all
the PROPERTY In, their possession and liable
70 the county a. such. They have power
70 appoint and remove subordinates except store
keepeys but not allowed TO enter into any con-
uact for the expenditure OF money, except to pay
employee unless especially authorized BY the
Board Of Supervisors. All articles for the support
q the poor arc to be supplied BY the Supervisors.
They are required to make upon the 1st OF July .
detailed statement of all supplies that have passed
through their hands during the year, and also an
estimate Of what win be required for the coming
year for the relief Of the poor. for salaries and for
expenditures upon the propIrtyu under their
charge, and the Supervisors win then determine
They are required to advertise for ten days IN the
Corporation newspapers and award the contract
% S Ss S1dsr n g. ae
eve adequate security for the faasoiu carrying ont
A6Sisions, repairs or alterations shan be FUR
the requisitton Of the commissioners: C.9le 4
money nor 8 orders q dealers s5csB; q e the
ana supplied BY orders on the contractors -.
All articles drawn for the support Of the nstttu
Ss 90
orders the storekeepers shall return as vouchers
% the Board OF SUPERVISOR -.
required for the exercise Of any Of the functions.
Tho Board Of supervisors "a required to raise an
support s1 ~ not n any
No member OF the Board Of Commissioners Of
subordinate snail be personally, directly or in
directly Interested In the purchase or sale OF sup
Pnss Sr sTticles required or used under the pro-
Every pauper inmate Of the institution under
casrcs q me commisoners Of Charities whose
getting out or breaking stone. cultivating the
grounds repairing the property, Or Manufacturing
IN sucn manner a. may be profitable
In case any should refuse TO perform the work
placed under such restrictions a. the commits.
d0nerS may deem proper. t.aQ ,rlL1 .s.8
vaeIants may also be committed to the Aims
house By magistrates. and there held the same as
they now are to the Penitenttary or County jail
fl CONTRIBUTIONS By THE ssNAT8. il3Iis4
n5med the following As Agent Of the Indians in
western New York, Henry b. Hawkins, of Silver
Frsaei.cS B. Hunttngson, Of ssracSss. O' 'D
81 ND. THE CANAL BOARD APPOINTMENTS.
the Canal Board win probably make their sp-
RESIGNATION OF MAYOR rHAcHER.
Mayor Thacher has resigned. This IL In accord
ance with the stipulation entered into vito Mr..
Message nom Governor Dtx-The Comp.
trsller's ststement-Thc Money Ex-
pended In Payment Of Appropr1a-
tAens-A Clear Violation OF the Constt-
tutAon-Expendtture In Excess OF the
Revenues OF the state-The Unpaid
Taxes.
ALBANY, Jan. Is, 1874.
Governor DIX to-day transmitted the following
message to the Legislature
STATE OF NEW YORK, EXECUTIVE CHAMBER,
- ALBANY, Jan. %, 1874. !
1 have the honor to transmit herewith COM
munioatton nom the Comptroller in regard to the
psdss e. pay % and Seaes%
the principal Of the State debts. 1 cannot TOO
strongly commend the facts and suggestions con-
tanned In this communication to your attention.
They concern the proper administration Of the
financial department OF the government and the
the pubic creditors have referred to this sub
ject in both my messages to the Legislature and
Sonor g make 70 YOU at the com%encem S Of
your present session, In the financial statement
presented TO me when was preparing it,. The
aggregate amount OF the several sinking funds
was set down, $l6,5 ,9ol O5 On inquirtng in
what manner the funds had been set apart as re-
thirds Of the amount WV
EXISTED ONLY ON PAPER,
and that the moneys belonging TO them had been
used IN defraytng the current expenses OF the gov
ornment, IN direct violation Of the constitutional
requirement and OF the pghted faith Of the State.
the manner in when this failure to ful6l high
constitutional obligation has been caused, and
can now be Complied con with. do not doubt That Il
!! bis duty, under the higher law OF the constitu
tion, TO invest all moneys raised by taxation for
instead Of expanding them to meet legislative ap-
propriatlons and to leave the latter. unpaid until
Snnnal message assUmed that as Sinking unds
were, In their nature,
4 SOLEMN PLEDGE OF FAITH TO CREDITORS
Tor the payment OF debts due them, TO borrow
money on the credit Of those funds for other pur-
poses, to make them subject to any other pledge,
securities or which they consisted, was q clear
Violation Of the pledge originally given: Further
reelection a ss,s my confidence IN the cor
Of the general fund debt sinking fund, and these
peated instances, authorized the Comptrol-
JcE w uVSSt burpub moneys belonging
TO the. capital Of the sinking funds IN
taxes thereafter to be collected, and to apply
these moneys TO meet appropriations made by the
same act. An Investment In tax does not con-
vey very definite conception Of the financial
measure intended in plain terms 1t Is an expen-
diture OF money to be replaced at future time by
TAXATION; but IN point Of fact, when the authority
20 invest was given to the Comptroller In the In.
stances referred to, there were no surplus moneys
IN existence to be invested or expended, and the
result has been that the
PRINCIPAL OF THE SINKING FUND HAS BEEN
INVADED IU..I ..l
ana consumed as already stated The largest de-
0cency Ia In the sinking fund OF the county debt.
This debt contracted under section IL Of title
: OF the constitution The sinking fund to ex-
ngulah It created by chapter S25 OF the Laws OF
1885, and the money provided Tor II became by virtue
Of the section referred to, applicable to the repay
nent OF the debt, and "tO no other purpose what.
ever" Like the sinking funds OF the general and
canal fund debts, 1t is lnvolabie, and can only be
invaded and consumed through an infractton OF the
CONSTITUTIONAL requirement. The act chapter AS
OF the Laws OF 1857 amending that OF 1859 re.
quires the Comptroller to invest the proceeds OF
tne annual tax authorized to be levied for this
SINKING iund nom time to time. as II can be
IN an n hnnsa 40 th~~f RaA m a