National Republican., 1876-06-01
GREEEBAcK CERTIFICATES.
Statements from the District Authorities-Rin
to Provide for the Payment Of CeYtif.cotas

~1ieN1oe iof INC = faymont Vi WI L.cates.
A resolution was passed by thc, Senate April 10
uieetng g the Distflct Oonp .ssioners to communi-
SHe 70 the senate the mount Of certificates Of
Indebtedness common called "preenhack,n is.
sued in pursuanc- of the acts Of he I.sgisIa.,vo
Assempiy o. the District aud OF Congress; also,
tne aino mt Of assessments made by virtue Of said
ae" % secure the payment Of such certificates Of
Indebtedness; the amount Of such assessments
collected and the amount outstanding unpaid, If
any, and the reasons why the came have not been
necessary.
In reply to q communication from the District
commissioners, the commissioners of the sinking
fund inclose statement upon this SUBJECT show
ing the amount Of eight per cent. special improve
ment certificates issued under the act of Assem-
bly, OF June %, 1878, confirmed by act of Congress
OF June 20, 1874, outstanding March 81. 1875, with
the amount Of interest due thereon to same date,
making total of o. 81 $50; also q statement
showing the amount of special improvement tax
lien certificates received from the deputy comp
troller, and amount paid to March 81, 1876, to-
gether with the interest due on amount outstand-
ing 10 same date; also, the amount Of INSTALL
ments hich are overdue, as follows: Amount Of
certificates received 81 OIL 97sl8; amount of same
paid, S224, 247e4; outstanding April l. 1876, SSH,
730t4 interest due to March 81, lS76 SIS 3SS 81;
making a total Of so46.0j9l5.
They state also that very large proportion of
the assessments have been collected, as evidenced
by the amount of per cent. certificates retired
an a. vi the entire amount IN arre,s m,
more than six months, as they show by an accom-
Panying exhibit, footing up as follows: Overdue,
1874, S SCI. j.; do 1875, 500 1895; do 1876, siS,
Ol00l: making in all, Sl27.24.9.
Until recently the collections on this account
have been highly encouraging and in their judg:
ment it did not seem wise to resort to any hard
measures to enforce payment by requiring sale
Of property Of those in arrears especially in view
OF the fact that no formal demand had been made
Icy holders of the S per cent certificates: that
they shall now deem II their duty to call upon all
and IN eases Of 10 oa and a
sell the property as provided by law. But if all
tax lien certificates in their custody were paid
the proceeds would not suffice to meet tho out
standing per cent. certificates by s36a O255S and
that an additional amount will be required to
supply this deficiency. Whether any further legiS-
latiOn is necessary to insure the payment they
are unable TO say, as they have no measures Of
knowing what amount Of available tax lien GER
tincates they may depend upon, nor the extent
TO which those now on hand and those vet to be
laws.
THE DISTRICT COMMISSIONERS,
in their answers to the resolution to transmit n
copy of the report Of the commissioners of the
sinking fund.- say that 'in their report the remark
their custody were paid the proceeds would by
the sum of $369. .G2e.55 fall short of meeting the
Outstanding certincates OF Indebtedness, known
as greenbacks, the original issue of which was
s2,LOa,OO0 But referring TO the engineers annual
report in December last, (see pages 25 and 2j2
report Of the District Commissioners and accom-
panying documents, It will be seen that on ac-
count of expenditures for which assessments have
not been made, the engineer estimates that there
assessments the sum Of S2,U7S, 635. 90. These as
sessments are being, and will be made as speedily
as practicable. When made some of them will
doubtless be paid in the certificates Of indebted
ness, which are receivable for such assessments
This will, of course. reduce the amount of such
certificates outstanding. and will make the whole
fund held in pledge by the sinking fund applica-
hle to the remaining certificates of indebtedness
tOr such future assessments as shall not be paid,
assessment certificates will be issued and trans
feTred TO the commissioners of the sinking fund
by way of increasing the fund held in pledge for
the certihcates of Indebtedness. These assess
ments and the assessment certificates remaining
TO be made or issued will largely exceed the ag-
gregate OF the outstanding certificates of indebt-
edness, the interest thereon and the advances
from other funds for interest on the certificates
prior 10 July ], ls74.'
And, in conclusion, the Commissioners say: ave
have no doubt that the collection of these assess
ment certificates, and the consequent redemption |
OF the certificates OF Indebtedness, tthe latter
TeREesentEg Pre- mt an i1dsbtedness OF
ment certificates, may have to be borne by the |
whole District, instead Of by the property bene-
fitted and designed by law to be specifically charged
on account Of it, would be-expedited by legisla-
tion validating the assessment certificates as |
against purely technical objections, and at the |
with the assessment an easy opportunity for the |
correction Of errors"
The Commissioners transmitted with their an
sWers draft OF bill, ITO provide for the s per
cent. certificates Of Indebtedness issued for work
done under the direction of the Board of Public
Works, and chargeablc to the private property |
the Senate yesterday by Mr. Morrill, Of Maine.
In order to carry out the provisions for the pay
ment OF the principal and interest Of the green
back certificates the bill requests the proper |
authorities Of tie District of Columbia to promptly
enforce the collection of certificates of assessment
held In pledge Tor the purposes aforesaid. accord
nS TO existing provisions Of law; and all certth-
'ates of assessment fer special improvements is |
ued under the act Of Assembly of August 10 |
81, arc hereby in ali respects validated and lie.
EaliEed as charges upon the property benefited
" the improvements in respect Of which the as
essments were made. Provided however. that
lpon specific complaint, in any instance being |
made to the Commissioners OF the District of en-. |
,essiye charges in respect Of any of said assess
nentS, sa!d C9mmissiQusrs are hereby authorized
o revise such assessments and to Correct the |
aHe II any error be found, by deducting there |
rom the amount OF such error; and such action of |
he Commissioners Of the District shall be final |
nd not reTisable by any authority or proceeding
ybateYeT.