The New York herald., 1878-03-29
heavily upon This community We desire to sustain

heavily upon this community we dcsifo 10 sustain
The public burdens OF this city are vcry onerous.
They press severely upon all the commercial and n-
dusiral interests OF the city, The city debt is enor-
mous-our annual taxation Is excessive.
We pleased TO learn that last year. tor tho hrst
time in quarter OF century. tho city debt was re-
duced by upwards OF 81 O00,0 900, and We earnestly
urge upon you, so long as you continue the chief
financial officer tho city. to every influence
you possess TO secure year by year. still further
| duction OF this debt
We also reoogniz. with pleasure tho fact that the
annual taxation OF the city Is decreasing and tnis de-
crease wo trust, shall continue until two per cent IS
the maximum or highest rate which, in any one year.
will be Imposed by tax In tho city. we look 10 you
TO carry into practical operation whatever measures
may be found necessary 70 produce this result:
Of your associate the efforts you are making In The
direction Indicated and with this view We present 10
you this address, which will nov be read.
| ADDRESS
Mr. John Foley then read the iolowipn-
Hon. JohN KELLY, Comptroller OF Ihe~iy OF New
DEAR sR-rho Mayor, in his recent Message.
says The net city dobt December 81 ~ ISL was was
the debt 1876, manly attributable 10 The careful
and economical management OF our CITY finances
SO that Tor the first time IN twenty years The bonded
debt OF the city shows rcduction-he result OF your
faithful, wise and able administration.
We notice with qualification tho prompt efficient
and d'gn'hed management OF your Office. so much IN
keeping with tar and honorable dealing, which has
not only resulted in saving the cny IRON much dis
graosl al and expensive litigation the
time placed the credit of the CITY Ia ITS present nga
posion.
proper 10 make this pubic Acknowledgements oi your
practical and successful Efforts tue cause OF good
government; and, AZ The same time, we are not un'
mindful Of the great relief you have Afforded over
burdened taxpayers by aso reducing thc rate OF taxa
ticn 10 65 IN 1871 ana further reduction TO 30 Tor
1875 With your great success thus far, aud your
hrm determination 10 promote and protect the true
interests oil the city and Taxpayers, W. nope you VIII
be able 10 bring down the rate TO Two per cont for tho
coming yoar.
rhe althiu and determiu cd course 0i Hon. John
Wheeler, as member OF the Board OF Estimate ana
Apporuonment, IN go ably SUSTAINING your good work
IL reducing the various appropriations, viii not be
forgotten by the taxpayers OF our city.
NEW YORK, February, 1873
JAMES BUELL., President Importers and Traders
A. " STOUT, President National Shoe and Leather
Bank.
J. Nj. CRANE, Cashier National Shoe ard Leather
RICHARD BERRY, President rradesmen's National
A. HALsEY, Cashier Tradesmen's National Bank
WILLIAM A. wHEELoCK, Presldent Central Ma.
Uonai Bank.
PEER COOPER, No. Lexington avenue.
JOHN ). cisco h son, bankers. No. so Wall street.
MOSES TAYLOR. President Nallonai CITY Bank.
+. A. PALMER, President National Broadway Bank.
j.. WORTH, President Park National Bank.
| r. H. LOWRY, President National Bank oil Republic.
| II. W. FORD, Cashier National Bank ol Republic.
SAMUEL u THOMPSON, Presideut Chase National
IsAAC w. WHITE. Cashier Chase National Bank
EDWARD D. RANDOLPH, Continental National
ISAAC UDELL, Mercantile National Bank.
j. j. AsrOR, No. 33s Fiith avenue.
JOAN q. DAVIS, No. 257 Broadway.
q. Z. BALDWIN, Nos. Al and As Worth street.
JAMES NJ BROWN, No. so VAN street.
EUGENE KELLY No. 40 Ex -bangc placo
j. SELIGMAN. banker, M. II Broad street.
ii. AMY n CO., bankers, No. q Nassau street.
WILLIAM NJ vERMlLYE, No. 80 West Ihirty-nrut
JAMES I. WOODWARD, President Hanover National
Bank.
HENRY +. sPAULDING, Central Trust Company.
CHARLES NJ. Fry, President Bank Of New York.
X. b. FERRIS, Cisnicr Bank OF New York.
J. A. BEARDsLEY, Cashier Bank OF North America.
WILLIAM Ii. NELSON, No. 142 Madison avenue
JOHN +. GRAY, NJ. D., Fifth Avenue HOTEL
JEREMIAH DEvLIN. No. 25S broadway.
BkNEDlCr BROTHERS, Nos. 100 and III Broadway
PARKER HANDY, NO. 70 West tenth street.
r. J. ) FLINT, Nos 81 ana 33 Broadway.
RANDOLPH ". TOWNSEND, No. ls East Seventy
HENRY AUsrIcE CO., No. % Nassau street.
+. y. ROBERTS, No 80 Wall street.
EDWARD scHELL. No. GA Broadway.
A. s. FRISSELL. Fifth Avenue Bank.
HENRY L. HOGUEr, President Emgrant Industrial
JOHN FOLEY, No. 2 Astor House.
DREXEL, MORGAN l. CO., bankers, No % Wall
WI HAYES, President National Bank OF tho State
j. b. vERMiLYE. President Merchants National
Bank.
J. N. MORRISON. President Manhattan Company.
J. A. AARBURGER, Cashier Manhattan Company,
JOHN n. QUICK. S Cashier Marine National Bank.
WILLIAM L. JENKINS, Bank Of America.
DWIGHT JOHNSON, President Firemen's Trust In.
JAMES N. MCLEAN, Ci.rzens' Fire Insurance Com.
JAMES II. pINKNEY. President Relief FIRE lusur.
HORACE J. Moody. Presiden, Pacific Ahp.ual Insur-
JOHN Ii. BAKER, No. 1855 Broadway.
CHARLES 1. AfrLEBY, Fmcmsn's Fund Insurance
J. NJ. HAisrED. President American Fire insurance
JOHN b. ARTHUR. Secretary Columbia Fro Iusur-
GEORGE W SAVAGE. President Columbia Fire In
CaARIEs DESSSis, Vic. presideu. Atlantic Mutual
WILLIAM X. FOsDlCK, President ST. Nicholas Ma.
F. b IAPPEN, Pres,dont GalIa,in National Bank.
GEORGE 4. BAKER, President First National Bank.
DARLING, GRiswOLD Co., Film avenue Hotel.
q. .. ChAPlN, treasurer Uuion Dune Savings Bank.
JORDAN L. MOTT, Iron Works.
MAYER, MURKELL n OfIMANN, No. "A Church
WILLY wALLAcH, No. A Beekman street.
CLARK, DODGE Il CO.. Bankers, No 81 Wall street.
HESS BROTHER, \ CO., Banker, NO. 20 Wall street.
a. AMY, Banker; No. 2s Nassau street
BARBOUR BROS, No. 1874 Church street.
H. Is CLAFLIN " CO., Worth street.
II. K. +: b. TAUkBER \ CO., West Broadway
MARSHALL U. ROBERTS, No. IO7 Fifth avenue, and
others.
coNPTRoLLER KELLY's REPLY.
Comptrolcr Kelly replied AZ ioilows:-
thank you aud appreciate the motives which ipfu
cnce you calling upon mo In relation 10 the busi-
ness interests oil tins ciy aud the great depression
which ex SITS everywhere Ia mercantile matters
assure you that nothing Will be lett undOne on my
part reduce the expenses OF our cay government
lar the bc done without nlictiDg serious
injury on the different departments nave been
oce about sixteen months, and III that short tho
dcvt Of the cy been reduced 81 OU0 900. Tho
budget Tor 1877 made up when entered upon tho
duties OF my oicc Tho rate Dxed al 81 50
500 OF assessed valuation oI real and porsvna prop
With the members Of tho Board OF Appor ton
mcnt cxamued carefully the items IN tho estimates
nualiy that not less than 25a 900
could DO taken from the aggregate amOunt OF tho
budget without do,riinent 10 tho proper admins
tral the several departments. Tho TAX rate
was brought down TO 81 10. ln tue buuget Tor 1878
the Board VI Esmste aud Apporiion ncnt maie Iur-
ther reduction, ana reduced the lax 10 ~ 80
each $lOO Now, maintain that this Is accun pIsh-
ing great deal in very short tne and by the