The New York herald., 1878-10-05
COMPTROLLER KELLY AND THE
CITY FINANCES

FINANCE DEPARTMENT., CoMP rRoLLER's OFPIcE,
Cry or NEW ioRK, Oc !, 1878 }
To rns EDITOR THE WoKLD:-
Tho editorial notice in the World OF to-day OF the
monthly statement OF the city doDt made by the
Finance Department for the month ending September
80. 1873, seems 10 call for some comment.
You say that tho main object OF the statement sap
pears be figure immense reduction In the city
totap debt-which auctuates accordingly as revenue
bonds issued recalled, and Of which SIS 00o
have been issued since New Years Day"
Tho monthly statement by tho Finance Department
OF the bonded debt Is made In conformity with long
established CUSTOM tor tho Information OF the public,
and presents the actual condition OF the ''total"
bonded aebt OF the city at the time, embracing all de-
scriptions Of bonds, revenue well assessment
bonds, and the iunded or permanent BOND debt. Ths
total amounts OF all kinds OF city bonds aud Of the
securities neId by tho sinking luna at the end OF the
last fiscal year, December 81 1877 ana also at the end
oi the previous month"; August 81, 1875 are all pre-.
sented Tor comparison with the hguros Of the
monthly statement OF September 3o 1878.
their relative amounts Of increase do
crease at different dates, without the least difficulty.
There Is no mystery in tho statement, nor any at.
tempt TO figure tan immense reduction in the city
sl0ul' debit The figures stand Tor themselves,
whether they exhibit an increase or decrease OF the
citv debt. Tne statement OF the debt ono mouth pre-
vious shows whether the 'total' bond debt 10 an IN
crease decrease, and now after repeated explana-
lions IRON This department Of tho luctuatng charac.
ter o tho revenue bOnds seems to be UNDERSTOOD ny
the CITY press we CIT Zens generally, and tho
uluercuC0 DctWe0n Ln0 ueOt OF 0luereuI GLASSES Ol
LOnds Is readily perceived and understood. The conf
paris0u of this stOta deDt at The present time with
the year ago SIMPLY shows tue general
diLion OF the finances OF the city increase
decrease oil The dobt and Is an answer TO
tho common charge made OF cxtravagant aud nereas-
lug expeu dtnrcs nf the city government.
II - further SAID that 81 hese puDlsnod tables
may be all right Yot they may be wrong anu the.
Comp troller not know IT, He Is dependent upon the
figures aud perhaps tho inanipuIaions oi others.
The public cannot get other gures than what
F,nance Dep4rt ment chooses TO enumerate. There
Is real examiner oi H. Tor s mas Dcen admitted that
the latest Commissioner OF Accounts was appointed
for political reasoas." M
This is an asperson upon the integrity OF the OH.
GERS OF The Finance Department implying that they
isstatng Iacs which true should constgn them
70 iniamy. | now desire ouly to say that, u the
charge OF nipuation" OF the agu ures o CITY
debt ID seriously made, throw open the books o ths
Finance Department, as have done before, Tor full
examination by any competent persons that may bs
selected by you any other OF our citzens Interested
enough, without regard to their politics party S
ations, whose report wil be accepted conclusive.
Worry respectfully,
JOHN KELLY, ComptrolleE