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6. 1.

DOCUMENT No. 1.

BOARD OF ALDERMEN,

JANUARY 7, 1850.

The Annual Message of his Honor the Mayor, was received, laid on the table and ordered to be printed.

D. T. VALENTINE, Clerk.

To the Honorable the Common Council

GENTLEMEN :

MAYOR'S OFFICE,
January 7, 1850.

of the City of New York.

In conformity with a provision of the Charter, I herewith submit" a general statement of the situation and condition of the city, in relation to its government, finances and improvements."

A view of the financial condition of the city will appear from the following brief statement, brought up to the 31st day of December, 1849.

The total aggregate of city-debt, from stocks issued and redeemable from the Sinking Fund, was on that day, fifteen millions three hundred and fifty-six thousand seven hundred and eighty-three dollars, ($15,356,783.) Of this amount, three millions one hundred and ninety-nine thousand and fifteen dollars, ($3,199,015,) are held by the Commissioners of the Sinking Fund; leaving the net debt of the city redeemable from the Sinking Fund, twelve millions one hundred and fifty-seven thousand seven hundred and sixty-eight dollars, ($12,157,768.) Add to this, three hundred and sixty-five thousand dollars of debt redeemable from taxation, and we have the total net debt of the city, at twelve millions five hundred and twentytwo thousand seven hundred and sixty-eight dollars, ($12,522,768) on the 31st day of December, 1849.

The whole amount of stocks issued for the construction of the Croton Water Works, has been thirteen millions eight hundred and thirty-seven thousand dollars ($13,837,000.) It thus appears that the entire amount of our city debt has been in reality incurred for the construction of that stupendous work which supplies the city with water; and that, of the total amount of debt created for this purpose, one million six hundred and seventy-nine thousand two hundred and thirty-two dollars (1,679,232) has in fact been already paid. I will add that the revenues of the city now pledged to the redemption of the principal and interest of the city debt will extinguish the whole of the present amount in less than thirty-five years.

The taxing of the personal property of non-residents is a subject that demands your earnest and immediate attention. A large amount of property, estimated at several millions, annually escapes taxation because the owners reside without the city. It seems singularly unjust toward our own citizens, and detrimental to the prosperity of our city, that the personal property of those residing in this county, should be taxed, while that of the non-resident should be exempt, though equally protected and benefited by the laws of our municipal and state governments.The present law operates as a reward to encourage business-men to reside without the limits of the county. I therefore recommend that immediate measures be taken to procure the passage of a law, by the Legislature, authorizing the taxation of the personal property of non-residents.

If in addition to this, all the real and personal property of the city were assessed at its full market value, and not, as is generally the case, at a rate reduced one-third or nearly one-half, it is believed that the ratio of our tax would not exceed seventy or seventy-five cents on the one hundred dollars. The present under-valuation of property causes the tax of our city to appear higher and more burdensome than it really is.

I would suggest that the Common Council unite with. the Board of Supervisors in memorializing the Legislature for an amendment to the laws relative to the assessment of property for taxes. Power should be lodged in the Board of Supervisors, or in a board of officers created for the purpose, to correct assessments when there shall appear to have been committed either an error of judgment or of accident.

If, also, the Assessors should be required to keep a permanent office in the rooms of the Comptroller or the Receiver of Taxes, and their books exhibited there for a reasonable time after the valuation has been completed, it is believed that the convenience and interests of tax-payers would be greatly promoted.

The 7th section of the amended charter prohibits the drawing of any money from the City Treasury, except first appropriated to the purposes for which it is drawn, and also forbids all appropriations except based upon specific and detailed statements in writing from the departments, through the Comptroller. This section is evidently intended to insure greater safety to the finances, and at the same time the better government and discipline of the departments. If faithfully adhered to and observed, it will be found to be the chief safeguard of the public treasury, and I indulge the hope that the Common Council will not suffer it, at any time, in any instance, or for any cause whatever to be disregarded.

The number of arrests made by the police for all the various offences committed during the six months preceding the first day of November, 1849, amounts to fourteen thousand one hundred and eighty-eight, (14,188); and this is an increase of but eighty-six over that of the corresponding six months of the year 1848. Ten thousand one hundred and seventy-seven, (10,177) of these arrests were for intoxication and the usually consequent offences of assault and battery, abandonment, disorderly conduct, fighting and insanity, being three hundred and seventytwo less than those made for the same description of offences

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