Year: 1873

d. Amount paid and estimated 10 Be paid for @


Poursh-aye. improvement and other pur' a., -. a.


poses unknown in sl ......'''.''' s'' % mi os ,a
Thus showing BY fair comparison s,' the expenses s ~
1872 we're less than 1871, seo 30 W
This result IS most encouraging and indicates clearly
what can be accomplished when tnere nS desire she h
administration OF the government


RATE OF TAXATION


For the year is73 and that the rate OF taxation has
been already fixed at per cent on the valuation of
1871 The increased rate is required TO meet the excess
OF the quota OF the State tax for 1873 over ls2 amount
qured to be contributed by this county 70 meet de-
feency in certain sinking funds OF the state. AT the
late session OF the Legislature an act was passed au-
horizng the submission to the people OF the question
whether deficiency OF 5000 0o III hese Sinking Funds
should he maid BY the issue OF bonds This submission,
the state Controller has decided to be unconsttutonal
and requires that the amount OF u oe raised In 1873 Dy
called that will fan upon this city and county the
above sum OF s6,Ss7 72 and accounts Tor the heavy
The state sinking Funds are by the Constitution made
nvOable. How is II that these lnViohDie FUNDS have
been taken from the Treasuyt AS the cy has now 10
make up its share OF the misapproprAed money OF the
State IN addition to the embezzements or members OF
its own Government. think the taxpayers ought at
least to know why this additional burden is laid upon
them But even with this unexpected amount TO pro-


vide for the rate taxation for 1878 Is believed by the
Controller OF the city 10 be unnecessarily hgh aud that
the same ought be revised ana reduced. To accom-
plsh this legislative authority Is required


With united administration sustaining and strength
ening the Finance Department much can be done In the
interest OF economy ana ROOu IL
sire OF the great body OF the community to sustain this
Depsrtment the successful management of which has
9cia Fesnlts thar have thus far been obtained Natu
raliy however politicians who for political purposes.
events influence the administration of the Treasury
camOrous for a change. And tney are supported ny
holdors Of fraudulent claims VINO ao mlng "a order 70
percentage Of the nomhal amount OF ther cor
rupt demands pay the balance IN furtherance OF


Any and also bv those who fearing that under the
present administration day OF reckOnlnS WIN cOne
when they will be called upon 10 make gOod 10 he treas
ry the sums thew have fraudulenty received therefrom
are ready contribute large proportion OF what they
have thus obtained to save the remainder.


We want no political Instrument at the head Of our
Finance Department no one who can DC lnfneneed Dy
any other consideration than fidelity to the trust ne un
deftakes This department should have the exclusive
control of ali the financial Of the Corporation
after tbev have been duly audited and adjusted shall
support the Controller IN his efforts to have such adj
mnistration carried into pracucal operauoh'


INTEREST ON CITY FUNDS.


In the Finance Department there is Bureau charged
with the duty Of receiving all moneys paid into the
Treasury and for the payment of money warrants
drawn bv the Controller cOuntersgned by the Mayor,
the chief officer of which is called the Chamberlain.
by the Mayor The present incumbent is Mr. Francis A.
Palmer, President of the Broadway National Bank. He
received his appointment from my predecessor. and
holds the office in virtue of this appointment f0ria period
of four years from the 9th day OF January 1872 When
the present charter was passed, the Office filed by
Peter b. Sweeny fact that accounts for the significant
omission in that instrument OF any provision eatng TO





OF the city for whose removal from Office the Charter
makes no provision whatever


lain is President is by him continued OF the DEPOSIT
tories of the City and County funds The berain
has the authority TO designate the Depository Banks
under the provision Of Chapter 623 OF the Laws OF 1869
BY the first section of this statute the Chamberlain Is
reaured 10 designate not less than three banks in which
all the money Of the city and county shall be deposited
and he may by notice in writing to the Controller from
time time change the banks 80 designated The I'M
mediate predecessor OF the present Chamberlain has
under the authority Of this statute designated the Ma
tional Broadway Bank, the Tenth National Bank, the
National Park Bank and the Union Trust Company as
the depositaries Of the city and county moneys.


These several banks agree to pay on the daily balances
a the credit OF the city and county interest at the rate
Of per cent per annum. This interest as II accrued
belon ged to city and county much tho principal
and the Chamberlain has no right OF authority TO ap
proprate or direct it to any purpose whatever inc


liberaity in which there was no credit, by handing
over the Treasury the balance OF interest ut the rate
stated after deducting therefrom certain expenses
which they assumed pay under the authority OF the
second section of the statute OF 1906 aud which Included
per annnm the brother of Peter Is. sweeny Deputy
Chamberlain, an office to which he never was lawfully
appointed, and the duties appertamrg to which he
never discharged.


THE DEPOSITORY BANK CONTROVERSY.


In December 1870 shortly after the present Controller
was placed at the head OF the Finance Department. he
advised the then Chamberlain that as there was no law
which had appropriated the interest the city aud
county deposits that officer, or which gave him per
sonalIy any right or color of right TO It, the practice
which had been followed OF the Chamberlain drawing



on the same date the Controller directed the several
depository banks that the end OF were
10 add TO the credit OF the accounts OF the city and county
on their respective books the amount OF interest when
accrued upon the daily balances az the credit OF each
account Win i Hs5 e readily e6mped From
the National Broadway Bank and the Tenth National
Bank no reply received, and though repeatedly
urged by the Controller TO advise him 10 their
pance with his direction, they have pesstenty failed


The interest which has accrued TO the city during the
year 1872 the balance In the banks amounts to about
100000 Both the Park National Bank and the Union
Trust Company are prepared TO pay over 70 the city the
interest which accrued IN the business IN their banks re-
specvely and have been only prevented from doing so
by the present Chamberlain refusing to sgn the proper
transfer warrants After the action OF these banks IN
city and county deposits from them aud mas DESIGNATED
as depository, the Tradesincn's National Bank In
Ue Kent until the last few DAYS deposit in the Teuh
National Bank of S2loO0Oo which has now been reduced
TO S250OOO.


The reduction was made pursuant to notice by the
Comptroller upon the fact coming TO his knowledge that
on the 80 Of October last the individual deposits III that
bank amounted 10 s24O93O 26 or when amount there
was deposited by the City and County of New York
bank 10 have only s36930 26 The balance of the
City and County deposits, which varies from two TO
seven millions the Chamberlain retains in his bank
the National Broadway An attempt was some time
since made by the Chamberlain TO appoint as his Deputy
at salary OF $4,000 which the Chamberlain claims the
right o pay out Of the accrued interest belonging to the
CITY,


II appears to me that in view of the above facts II ia
highly important that the Chamberlain and his pre-
tended Deputy snOuiu
OF the depository banks as their interests as soc kholder
and managers In the banks under their charge natu
rally antagOn1stic to the interests OF the City.


PUBLIC MEASURES RECOMMENDED.


An examination has satisfied me that the property and
franchises of the city can be managed to better advan
tage Their condition is another instance of the utter
neglect that has characterized the government the
past few years 1t has IN the past been customary for
favored politicians to get the Common Council, the
Board OF Supervisors, TO lease their property at
rent tfor city purposes, or for armOries and
drilrooms considerable portion OF the property
leased the city Is unoccupied-part never has
occupedand the city is paying heavy rents therefor
Proceedings should be at once taken to set aside all
leases under which excessive rents are claimed or
which fraud can be shown In all cases where this
relief cannot DO obtained the various premises should
be rented the best advantage. The franchises belong
ing TO the city should be disposed OF on the highest
terms which can be secured Railroad companies here
after applying for franchise should pay to the city
therefor stated rent