NEW YORK CITY. 



529 



For the use of the State of New York, for 



-. Schools, and general purposes 



;nty purposes, including Police 2.075,057 00 



For the Corporation of the City of New 



York . 6,297,23019 



To supply deficiencies in the product of the 

 tax hereby imposed 809,117 92 



Total ta*for 1561 authorized by the- Le?is- 



lature ' $11,390,040 43 



(This does not include any of the sums raised for war pur- 

 poses, such sums having to be obtained by loans.] 



Over the State tax $2,108,635 32 the local 

 authorities have no control whatever, although 

 the quota of State tax imposed upon the city 

 has increased during the past ten years from 

 $160,000 to more than $2,000,000. It is al- 

 . however, that great injustice is done to 

 the city of New York by the system which 

 prevails of undervaluing property in the agri- 

 cultural districts of the State, by means of 

 which a disproportionate burden is thrown 

 upon the large cities ; and through the exaction 

 of large sums of money yearly from the city for 

 the benefit of the schools of the interior of the 

 State, iu view of the fact that $1.300,000 are an- 

 nually required for the public schools of the city. 



County Tax $2,675,059. The principal 

 item of expenditure for county purposes is that 

 for the Metropolitan Police, amounting to about 

 $1,700,000. 



'City Tax $6,297,230. It has been custom- 

 ary for the Board of Supervisors to levy such 

 amounts for the use of the corporation of the 

 city as is suggested by the Common Council, 

 and sanctioned and directed by the Legislature 

 of the State. Of the amount, "$1,000, 000 is for 

 salaries, and $1,012,000 for interest on the debt ; 

 $1,300,000 for schools. 



The war taxes are still to come, and under 

 the direct tax law will be nearly $1,500,000 

 for New York City. Inasmuch as the popula- 

 tion of the city is one-twentieth of that of the 

 Northern States, it must pay that proportion of 

 the proceeds of the new tax bills, -which are es- 

 timated to give $160,000,000, which will give 

 a proportion of $8,000,000 per annum for New- 

 York, or, with the local taxes, $19,400,000, 

 being nearly $20 per head. 



The debt of the city is as follows : 



5 per cent. "Water Stock, parable in 1S70 $3,000,200 



5 1SSO 2,147,000 



5 and 6 per cent Croton Stock, payable in 1590. . 1,000,000 



6 ' - " " 15>3.. 900.000 

 5 " 1S75.. 2>i700 



" 1^75.. 1,575.900 



5 per cent Building Loan Stock No. 3, payable in 



1570 75,000 



5 per cent. Building Loan Stock No. 4, pavable in 



1573 ; : 115,000 



5 per cent. Fire Indemnity Stock payable in 1565. 402,763 



5 " Central Park Fund Stock, pavable in 



UK : 399,300 



6 per cent Central Park Fund Stock, (Arsenal,) 



payable in 1595 275,000 



8 per cent. Central Park Fund Stock, (Arsenal,) 



payable in 1-57 3,066,071 



6 per cent Central Park Improvement Stock, 



payable in 1557 2,053,200 



6 per cent. Central Park Improvement Stock, 



payable in 1-76 899,000 



6 per cent. Floating Debt Fund Stock, pavable in 



1-7- : * 2,745.000 



6 per cent. Real Estate Bonds, payable in 1573... 600,000 



Total amount redeemable from Sinking Fund. $19.574,139 



34 



Funded City Debt, redeemable from taxativn, Avgutt 

 1, Istil, viz. : 



5 per cent Public Education Stock, pav- 

 able in 1573 $154,000 



5 per cent. Public Building Stock, No. 8, 



payable in 1361-66. 800,000 



5 per cent N. Y. City Stocks for Docks 



and Slips, payable in 1-67-76 500,000 



6 per cent Tompkins Market Stock, pav- 



able in 1S62-69 .".. 136,000 



Total redeemable from taxation $1 ,090,000 



Total amount of funded debt $20.964,139 



5 per cent War Loan 

 5 " " " 



500,000 



$1,500,000 

 Amount of sinking fund for redemption of city 



debt, Sept 1, 1361 $5,440,433 69 



In the past year the city contracted two loans 

 for war purposes. When the fall of Fort Sum- 

 ter startled the North and aroused it to action, 

 previous to the resolutions of the great meeting 

 at Union Square, the Common Council, April 

 22, passed an ordinance, entitled, "An ordi- 

 nance making an appropriation in aid of the 

 defence of the National Union, and authorizing 

 the borrowing of money for that purpose," ap- 

 proved April 26, 1861, in pursuance of which 

 the " Union Defence Fund Bonds," $1,000,000, 

 payable May 1, 1862, were issued. Subse- 

 quently, and in order to aid the families of 

 volunteers, a loan of $500,000 was made, pay- 

 able July 1, 1862. 



The population of the city of New York, 

 which numbers one-twentieth of the whole 

 population of the free States, has politically 

 been largely democratic. This is expressed in 

 its vote for presidential electors in a series of 

 periods : 



Whig*. 



Democrat*. 



1S40 Harrison, 20.955! V. Bnren, 21.935 Birney, 153 



1544 Clay, 26,885 Polk, 25.-296I " 117 



1543 Taylor, 29,056 Cass, 19.195 V. Buren, 5.166 



1552 Scott 23.115 Pierce, 34. 2-26 Hale. 506 



1S56 Fillmore, 19,922 Buchanan, 41.913 Fremont, 17.771 



I860 Douglas, 62,293 Lincoln, 33.290 



57.003 



Total voces, 119,436 



207.961 



The election of Gen. Taylor, a Mexican soldier 

 and Southern slaveholder, was less a party vote 

 than a tribute to a military hero, and he was 

 nominated not as representing any of the old 

 principles which had so long divided the great 

 parties of the country, but on the mere ground 

 of availability. So little then remained of old 

 party animosities against persons, since the 

 principles contended for had been settled, that 

 the possible nomination of Clay by the Demo- 

 crats was much discussed. The nomination of 

 Mr. Cass, however, led to the separation of the 

 Free Soil element, which had lain dormant since 

 the Missouri Compromise, as a means of defeat- 

 ing Mr. Cass by dividing the vote of New York. 

 The plan was successful, although the city of 

 New York lent but little support to the move- 

 ment. The example, however, was not lost 

 upon parties, and the question then inaugurated 

 became the basis of a new party. 



