The New York Herald Newspaper, February 17, 1862, Page 2

MUNICIPAL AFFAIRS. Important Report of the Special Committee on the Mayor's Message. The Reorganization of the Board Repadi- ated in Strong Terms, Board of Aldermen. ‘This Board held a special meeting on Friday evening, President Henry in the chair. In answer to a resolution of the 10th inst. , the Corpora- tion Counsel says that every sum of money to be raised by taxation is by the Logisiature assigned to some parti- cular object of expenditure, and cannot be rightfully ap- A specified sum is placed at the disposal of the Common Council, to enable it to make donations, and may be bestowo? upon churches or ind! viduals in the discretion of the Common Council. the amount of the donations, be made, must vot in the aggregat signed by law to that object THM PROPPED RBORGANIZATION OF THE BOARD. Alderman Dayrow read the report of the special com. mnessigo, which Alderman Boole suggested should be read by Alderman Dayton, the chair man of the committee. Thore was @ dissertation on castigation of the general government for the frauds committed upon the public ‘The report stated that the genoral govern- The committe re- y the Mayor in re- plied to any other object. a whatever way they may exceed the sum as- national afzirs, and a ment bad lost public confilence. pudiated the statement set forth lation to the adoption of a new charter, and ridicuied the suggestion of the Mayor in respect organization of the Board of Alderman. Boanp of ALDERMEN, Committee, to whom by a@ resoluti don the 13th Janua to the propose! re- ‘ew York, Feb. y last, the annual commu- rr was referred. to rey © Common Council wit a upon our eitl- the administration of the ‘city gover expenditures, and ism, presents a marked and mo communications which hai by its broad and national patrioi- fel Magistrate o sree with his Hono the propositions and measures whic eration of the Common Cow! serve in expressing their judvinent that the message in uestion is one of the most interesting, important and valua- le papers ever addressed to the Iogislative branches of the rin respect to all @ has submitied they have no re- ly and most sadly senaible of the om the authorities of the vtrencimentof the i, in the face of the most conclusive eviden wee, that the expenses of our municty administration have heretofore been only the magnificent and ever In our city, it admits of no dispute at the the city has been stripped of 4 long continned adversity have been visi that theae expenses: should G new and un ovtanate cond! urgent necessity which oportionate with easing Wealth and prosperity of soul season, When its wealth, and de- ment, and that itizens and property holders for the maintenance of our Ment, should be only such as are absolateis the indispensable necessities of ‘and most rigid economy in the management of its prehensive that the membe: fant to perceive the pertio ‘ork is now piaced. m ral and perhaps careless adi ms not to be undersi find it difficult to meet the de- iz otigencies, and arm almost tion of the city tinances, it mands of the most, pret totally destitute of the means of York cannot any longer respond wo called & liberal administration of it: commerce is nearly ai Our manufacturing establishinents are gencral many of the largest and most expensive stores and places tess, great nuinbers of bonest, indnatri- mechanics and laborers, are ae 4 wide spread and jumparal poorer classes of our popula quite appare1 he pub, prevails among Bas ‘aot yet sully impresses yet iu Uc obects of our city 5 but a faint oniline of the ex- ta:ing difiicaities, of is trouble and dis- freee the people of this city, in common with their fel.ow ‘sums towards carrying on the prescnt war the general government. The expenditures a for the current year will, amount to, if they do not , seven hundred mili interest on the national debt will be in the neigi- ollars. Ina single year ment ‘sun of seven hundred millions. imtorest on the national debt wil one-half the whole expenses of overnment during the the pi “fe “Geet these euork ni even intellectual acvance tothe taxation of the ne ‘support, rendered expensea which the Biate has the cfty of New ite irse the extraordinal The sacrifices rm) contributions» made by York to maintain the bonor and integrity of the n: government {a the present war are of ac unknown fn any oiber locality In the country. To theso— sacrifices and burdeas—the tines cheerfully to su Ancurred in con: nal character and extent and, indeed, to any ive to truth 'o say that it is mow wersal belief of our the abilities and c)aracier of hat the conduct of this war bas been moat grievously disajypo.uted as were the Opposed ia polluce bas been net ony among the most, in U8 comic national cause. For all these s made by the a’ taorities of the ns Of “POOps and money to kusAiD ecklensly squander. ea and. political ployed one armies in the Seld, and ariching eoatractors plied to the objeoia for wh: they see fmncase sume hit waseontrt lavished. upon pers Of the members of the Cabinet thelr con: impaired, and the Lapaured, 95 eanuot but regard the led. im dingraced, and its fairs demands the ‘every one called tpon to take part in pu! Common Council ov ibe city of New feel assured, will prove true io the dictates of sud and patriotism in thia emergency, lodged as their im) of extravagance, unfaitifuiness or to see that no re; a tolerated in any of the de tm they should be oradicatd, and if way expenditar not indispensably requisite to th Usewxercise tion of either of the departments have become cusomar; ure be discontinued aad 4 course the burdens of taxation will on our citizens, their confidence be rretored, and our clty legiaia set a brilliant and induentisl exar pie tor should for the t the measures (hus indicat wise and salutary su Joint welret cova amine witn-sses and pap re, fo take retrenchment of the chy ex of alt abuees in ite government. They apy A resolution for thie purprse, and 6: ed, and in order to carry out the stions of his Hunor the Mayor on this Feeommend the appointment of « je wully recowmen pluton ls nearly universal that a revision of the charter of the ty le necessary vo Une ethelent ana Frugal admniniatration of the city government, ¥ ur wih bis Honor the or in believing That Years warrants the ex 4 wernment, at once once in 1549, twice im 1858, aod agein in 1bi, aye or Soarcvly exceeds four years, eavement has deprived more mature a anew charier. The plans suggested by hi new charckr your committe propose briefly to ex, atever may be the imperfections of the present char- 16 may be sald of it: tuat it thorougily em: | of popular go- | then two Supery ple in their | Sounciimen are | from djatrcts having as neasly ad provision is made, nicilinen ts concerned, a& change in the re- arter is wwodeled Hintion of the Stave Ore Lo si umber of invapitant he ei imdamontal lng oF the Btate form thi that body to deciare that ater re Uicayauem upon which itl ereated Is tilstaken. ee tof the United States ts test achlevementa of hi pat] ppeal to respect to this de which ton of the United 8: mental NEW YORK HERALD, MONDAY, FEBRUARY 17, 1862, ite fon of upon each other. Thoy are respectively real and anb- | visorsabsolute'y insure purity and fidelity in the act dist nd in- | the body, aud freedom from con rol. en the neh, separate vfich is | acain refer to the experience which wis chy suered tn ite Governors, And even in the Hourd of Super- orable oveasion in the very ye action of ‘mecessary to the validity of measure Teese enaval goretument There are wot im ihe cay of New | visors, on at least ove moat we York auy such distinct, separate audfinicpeudent interests, | iret xorcavthing resctabltng them, to be represented in we wo | the Bove Boards of the Common Oouneil. ‘Nor is there anything (n our clreumstances or condition to ‘aitent spree Of this city as occupied by the Pr the United States y.ith referenog to the nat ‘The President is elvcied not by the people, a8 18 Representatives, nor by the stitution deemed it wise to commit to the Chief Ma the President of the United States, and (o devo! corresponding responsibilities. {in tre governtaent, the represeuiath oe a ee ofthe city oF New York. bear no such re- dats f the Whole people ident of the d States furnish | him, smuple for thase is to be made, in the coustitiition of (ie ‘Nor does his Houor th tatives of different constituencies be regarded as the repr tives represeat their dideveat and res} government, They must rather be re; clumsy inventions for the creation of two separate ive interests in the ed istinet representation {n its councils of separate and inde. | deg composed of only wsiugle Board—that the bi docs noi presentany very marked i estion whether the advantages derived from doubl odies in all cases compensate for th ‘atiendiug theie action, and wheth won of disagreement from their rejection asures are not fully as great as the bevetits aces ral coun! br organization of men emanating from the pe render te whol anes and the pein ples upoa whic! can be defended have found in the ory of OUF Ko" tem of government. . His Honor the Mayor withdraws the plan for the reorgani- zation of the Board of Aldermen, which tas thus been co. sidered ag impracticable, on the ground of its uncoustitutior ality. But your committee coisider that a proposed inus Lon of so dangerous a character, emanating so exalted and iniiuential, and abandoned ouly upon a mer techuical, objection, cannot but work beneti relnecance eousidered them: | wil have theresore with great ea obliged toexpress t iberiies of Use peop And this brings osuer plag for the reconstruction of the city governinent, proposed by his Honor the Mayor, and agaiust which, in bis consé.tutional ovjecsion lies. The chief feature plan is, the creation of « Board of Aldermen after a WHER the Bottd of Supervisors is of this ay, ‘have been suggested: one, of ing them | scheme. 130! Supervisors as weil as Aidermen; aud another, St electing them by ceitain well known bodies,” Se, The first named plan he regards ag practicable and couside it Would be @ great Improvement ou our present ‘There is evic — eee, of — in ae Yor when he speaks of “electing Aldermen as tbe Supervisors are now chosen.” ASupertisor im the | Seadted fity and county of New Yorkis that nondescript odicial phe- nomenoa which is neither elected nor chossn. And his Honor the Mayor manifestly perceived (his difficulty when be adopted the language which he bas selected incommuni- | Mae cating this suggestion. Your committer do not deem it necessary to recite the Exinsaocows ting the Board of Supervisurs.as that body now | ported ts statutes or exists in the city and county of NewYork. | It is sufficient that of twelve persons, the terms of office of two of whom expire annually, that at each general election (wo Supervisors are voted lor bee a seperate general ticket, but only ove name {or Supers isor is allowed to be on any one ticket: that the elect Petvoa having the bigheat number of votes Ls declare a i the, Benes of, Comal Canencsers, 00 eo or | Board of 3u to ‘brit ular tain doy tn Desersber, in each reer, the Mayes ie 4 | Fepuvsand concempt and to lead to other mea number of votes for Superrisor next to the votes received by | —™nethawshe ret the. the whaving the return of the Boart of County | yn¥Stamination Canvassers as having been clecied at the election tast held. | {he examination: This is one of thore insidious and decepti a y ve conirivances b: ‘aud the intelli. | 2 principle of governinen: wr nce, honesty and anechy of the majority are ingulted and cam car of an election | ¥! but an actual and real election ia not permitted, isa tarce, to the character | Our people denied the 4 to enlarge and vate this enormous outrage upon the people ol this city ,by applying the same base and fraudulent device to the constitution of the upper branch of hele municipal legislature, a es ne tion Is one whieh is ssce of no reasonin, nor is tire found inthe communication of his Honor the | 2% Mayor a siagle argement in i the is ° r ‘The experience which this city had in tis Bourd of T-n Almahbouse cot ar committee do not know proceedings of the Board oi Supe saisien mt ies dur. | the claim | Yo) rd of Ten overnors. gant in 4 to it was the nearry nani community. And such, too, Was the ju ature i the vet tb al > woMIna ve . se primary ly the sceues of the and vi gracefnl frand, without legal resuraint or regulatt 1p be imposed upon them citizens, almost wit uple have no choice, Where there are on! field, aad but iwo conve; Yous, tur no Will tt be ae nominal worthy, mort people themseivest Which is not to be fo not rather a moral ce ni 2 the vody of the elect aty thi c# and power as (bat of Alderaan is veatious, they Decome the theatroa of aruiice, corrip- ignominy, beyond compari tion dive it is said, prevents a par faanres honesty amd ti E stood, then, a8 a principle in our polttic nayorities are, of necessity our cornmalitee Kaow Of no rexso: Uituiness to a par! y y any More than ios party ma nore of the other conte 2 | city fro iahonesty | pert gisiatare in the 0 fot a partisan majority in tie to (or the purpose ot accom democra: gan majority immaculate? Yo to purmie this topies but 1 is putting hia Honor hy at t form of the charter of the « objrot Of seizing and wir ding the pairoung st Lo say —while a of way such design: re \urging thi with the exctadt ‘one political party is divided and the two factions hol te conventions, and nominate di davon for be. ine Supervisor, ther persot \date 01 the opposit® po pariy, the result is the same | the m two nominatio: for Supervisor. One man from each side vecomes Supervisor, and the people have not the iiberty of doeteating the candidate of the ininority party. On the other hand, if one of the political parties is 80 strong, that, divided, e\thet faction ia superior in mumbers to the minority party, eof the same party are chose: trol of the Board. This reeult vance. For it will hardly be 'y majority thua accomplished aud made, as it would be nurier the systein of the Board of Supervisors, Absolnvely permanont and irretrievable {oF at loast the lor pertod of ax yours, w wuld be any more virwuous and faithful han a partisan majority in any other legislative bod And this expose: tio The rm art jority ol i the the shallow ingenuity of the whole in. Dalanoe of parties inthe Boera, prevente te cl on t rents the deney of eliher, and thereby secures iO yur committee sibmil, cannot wisely be erm wiwly bo mae the beals of & fur once do e minority in ygislative hor Gre inclined to’ the Lelie? that it would Srore’ bow ficial to provide in every. legis And considerable minority o ¥ constituency sbould C be represented’, But vy the system. upon whic Board of Buy stvirces constituted e miveriy, "he levy mage Weaign: ‘cant, completely balances sad neutral: | |e to Us! 4 moat proponderating majority, The | i" t les and policy command opport of peti f sande of voters in this olty, edvanc | rerattons of that be refer foliowers are a yabered vy & To one who bas faith in the sou gument fs nooded to bring to 900" of thestt But does this peculiar oomsdtutton of al repress: dependent interesia, the concurrence of Lge, % La relless aD exampled in any other legislative YOUF commilice submit that thia device of to set off in it ou was ansenipulousness e ference w the | tuting a tive bod! place the Mayor in the earae peaits a with reference (0 the | Seine eer te aud intelligent of ume, commend people te Senate, it vy | munity’ With senthnents of all proper reverence fo: i the fr pe ¥ gare contirained to say that She framersot the cour.| of Supe:\f-orm your conunittee. aFe con Gate, os such. gate | the eMtination Kn which that body ia held by the pepe “| " coniiical powers possessed by | this city is aot that which ought to be enjoyed Mane elocied the almost me powsarolve upon hits | ‘and powerful deliberative aenecablage. ‘As an independent power | Lr representative body im this country ow constituency who have elevated bi 1 facies are conferred upow | Aud induedce, who. are reayouaible for the aclest i? and (o whoin he i a es of the vity government, and the | the fulthful and honest dis:harge of the trust commited to U uupervasor conceived and born at the same mo- Hius an illegitimate in He represents ao one. "i for iis. paternity, tor his course of life or to whom be tranagressions. combining in’ equal nisms, realizes in po.tiical life that monster , posseasing the developementa of the oppor. destitute of the vigor or generative power of wateh over the separate interests of the eniniry, aud trusted for honesty because itis supposed to tise in wien tie Senate and House 9: Representa | Goprived of the power o tanace bel (un is responsi’ y have mats But a which should be vested in our local | tment im a party convention, is Ave T Macistrate. Ii therefore, a revision of our city charter | poiltical and official society. x61 for its reformation is not to be ound | no constituency iter: States, respemsibie Mayor, in lis suggestions for spe- | accountable ‘adhere very closely to the | the Board jie indications of the charter, @ Plaa of the coa-ticution Of the United States, A Board of | antagonistic o idermen, elected by the diferent instiiutions indicated by | fa nature the May or, oF constituted as 1s the Board of Supervisors, and | ing sexes, a Board of Counciinen elected by districts or wards, canuot | either; as | dians over the lov ranches | and virvne are relied upon becau ©: the eity legisiaiure, in atnbitious imitation of a form of | sion, tor m/schief bas 8 ‘overnmen! whose very existence depended upon the | emareu!sted and mos! miserable condition it is propose to ie the highest logisiative body of the proud city of pendent intercets, And while ft i not the purpose of | New York. en taken away from them. To already adverted to present c ne several con jministered wich | representatives trom the city of ) Your comimittee to combat the popular opinion in taverol the | Your committee have usefulness aud necessity of two Boards of the Common rter of Council, they may sitll be permitied to observe that up to the year 1890 the government of this cily was patriotism, eficiency and economy by a Common Council, | Assembly of the State. he elty | Uuent to inquire why, if those co: local cting members of the Ls wensi lature, they are ‘ou Council Were | electing members of the Board of Al lerment Or why, ral Ucket and Wpon governinent since wo Koards of the Com) suituted, and that wo county and uo other cily in this Staie | Aldermen are tu be elected upo tes two legislaiive brauches in tts local government, | neutral system, Asse 3 Your committee are tompted to wid that there may be some | same way? And further, if the or New iork, why should the b ye timited to that locali ly aud of the Se- a throughout the ‘say that the consti. this city 8 to this ties, nate, and the representat ‘Con| oir defeat of bad ones. : Stater It does not answer this inquiry ‘H's honor the Mayor suggests two modes by which, under | tution st nds in the way. ‘ousile | ciiy what the State constitution is to U it {s proposed to remodel tives in Congr ss, and t part in its municipal go- | parts of the Siate are no more con. pevent Wy elect these seve- jeer than are the people of tue e ty of New ¥ mmutiee beg leave to ton of tt York are competent 10 @ istinet interests in | represe: cliy 80 us to entitle them to vernment, your committee are a: «loss to undersiand, Aud | ral your committee protest against (ue recoguition of any body | "You i that this s0-called reform and | is in direct violation of the esiablished and seitled legislative r more ban twenty of any regulation at their expense, as | policy of this couairy aud of political interests inthis | Fears Previously (0 130, in mmerce aud the Soctety of | ou the subject by Con gress, the Siates v a Colgivssby general tick etor by dis. y veveral of the many years clecied hers by dis- agle districts, By an act of 41, the single district syst A jon of il members of Congr. d to more than one throughout f Before the constitution of 196, members of Ax crery Amterest le | were elected by counties. By that inatrument they aro lection of Assembiy- meu of members of Congress from the city of New York. 3h wescribe that the whole of the lature of this democrati tate, nor with re community. ‘The C Mechanics and Tradesiaen are voluntary and doubtless Very | their representative respctable associations of individuals.” But by what right | triets, as they or upon What principle can any of these bodies or organiza | States elec Hons in a goveramcat of the people bs admitted to a repre- | Suite of N sentation in thetr legislative asserabliost friets, bat not 1n all cases by ‘There is only ong source of political in this country. | Congres: 1 ‘of poittical | institute power or leg hat source abu \d should be, “Lue peo} a equal ty. ntation every interes: Is represented, and € ed for and protected. This is the bawis upou which our | quired to beelecied by single districts, The ‘of guvernmont rests, If weaduait for 4 single | system will probably Lot be abandoned in the other monient, or in a single instanes, that any body, society, insti. | tution ofelaasof nienis entitied to exclusive or pecu rivieges O: representation oF co Te wise or consistent, t live halls and representative bod upper house of the local legis! spall be elected upon a general ticket. je representative populur institutions | “His honor the Mayor speaks of vesting in his newly in- maintained, Your coumitiee regret to | yented Aldermen “al ne-sage of his Honor the Mayor « sugges- | Aldermen.” The point is, perhaps, tion 89 repugnant to the theory and policy of our whole ays | (here are certain powers now vested city which the proposed the charter, the ittul or bailing of olfenders, exe rson commited by anvther magistr, And there are other laws conferring upon him judic powers are often of the powers of Bupervisors as wel gnificant, Iderman of this functionaries caunot possess. ‘Alderman hag, b: wer ol a thagistrate in the arrest, com: not let to bail a pe roi @ position | powers. These great public service and iy By the constitution of the State all judicial offecs «injury in the | of citics aad villages, and all such judicial oficers aa may be inde of the people unless promptiy met wud ‘denounced. | Created therein by law, are to be el i ot be elected. yelp opinion cond-qnastory of the | tue canvassere will not Le heme, a6 subyereive of the rights and thfeateningt@ the | have noupportun ty of voting forany candidates against them. Who donot receive the c respect towbom the idle and mony of an appointment by the Ma; any possible sense be sald ¢ ned. fore, possess the judicial powers of the your committee to noties the distorted and which is resorted to in this 0. be elected, but the essential The new Aldermen Those who receive the certiticate of |, because the clettors Can e Two modes of clecting the Aldermen,” | gisingenuou! pervisors are now chosen, and vesting in them all | condition of the opcration of the whole aitifice is, that the be dq that an election shall not be permitted, that | the person who receives the next his! em. | bia who obtains the certilcale of 11 ind of | office would Le laughable if itdid not ‘The Mayor is said toappoint him, and aired to appoint lim and is privileged ‘to appoint no on . He may know the man to be ixnoraut, corr unit and unworthy. B [e cannot be held respo: may he is thus obliged to conter official and im- ike the appointment, because ‘To represent the oificer as ap- powef ofa merely a mocker fishould be understood tha’ the Board of Supervisorsconsivts | pS nor or othe rf ‘on of @ legislative bod: authority, why may 0 be so appointed? It isby pret members hold 1! “positions by apporntinent of their sove- ‘ism of European monarchies igexercised igexe: peeld in eubjection. And the certain andin- le; ‘Your committee have given to this most serious subject all ‘hich the time at disposal incre ¥ e proceeding be eee nll In and enlightened people. lt is 1101 rpose- iy designed’ tg thwart ihe ot ‘of the ireferences of entand tne voters. In no other county of thie Sisto ase the Risopinien of them: ir Su Tore and ‘uow it ‘is seriously and authoritauvely | ‘hey feel = urest motives, and se, for a reform of oy ire to be disitnctiy ain the opinion that the pre. shes, OF that it does The plan for sch amendment should, city goversment, yo woud that the ater of the vernors of the | notneedamendment. p pleicly and most diagsitoisiy retniod shat | however, inthe judgment 0: your con . ing an | 4:Feed upon vy the people tale 1s framed and amended by the peopie of thi 2 do not impugn the Fight of the Legislature, tablish, by such charter 4s it may deem egttlations of this BS ablished by the altiag the opiuions ov w ied as omwise and nn. Suggent that are: porial be presented ty the Corne Legislature, praying : ty is free from ble: of the city. T os it most eswrntial yualiiies over its pre- being ne ful ent State Ing six votes for deloy ‘res candidates, tiree votes to exch of two WF 10 one and two {0 the other, or five to one A 1 be ensured not # ot wisely be adopted f perhaps both, of the he Couvention, nor to enter upon the general sab). n office of so great dig. | ineuts to tne charter. ‘Pacer subjecte " om 4a | fog, within the scope of the rresintion unier wi the Uisposal oi these primary elections and mominating con. | cownmnlitee Was appo x amendments to th Fetes cil, and they accordingly report for adop ion @ joint resota- it t special commivies appointed un appended to this report, 9 consider and ¢ tof amending the city charter. ther report that so much ef the annual relites to the subject ie State Le stature, port upon the Your comm t ei menaoge of h.8 Honor the Mayor, of additions to the tax levy ma ® much thereof aa relat its lovestments di 90 much thereot us relates to the Feimbursement y the advauced by the ely forthe re- Hoards | lief of families o: yolynteers, ought to be reierred to the Standing Committee on Fins tate of the moneys Prine. chy government 1 applied the © 7 for ongust aPhiine | eviates to the ath ‘ a salaries, aud so mach inion, under one munict rooklyn, ought to inted unde! ort, that so much of rt. | New York an resolution ap- lackley contract, ought to be re! to ng Commitee on Cleaning Streeta, and that so thach of the same mosnage as rel the fortiScation of the Larbor and much thereof aa relates to en- a conventions and | commerce of the city, so much thereof as relates to ernment the defences of 1 Your committee have not taken noice of the | croachmenteon the barbor and burdens on the case where there are three three eindidates for Supervisors; and for this reason— | act of the last ‘aud the restorat Beer Committee on National Affairs. Y« append resolutions #0 referring oamage agwhere there ate but two political conventions and only | All ‘which ia respectfully eubmi WM. WALSH. * examine wit zammiin Resolved, That the fidelity tn. ite legtsiatlon, And ye 3 tuttous. Tt depends tipon no certain neamine condinion cf ote. | FOE.an cumstances, ut altogether upon accident, And aceldent, | god so much of (he an! an ject mendt se amend Saeed ion of : ums ld oo muuch therest ae Felates tS goverament of New York and joimt wolect committee ‘ap. woroment for eslaries, ‘OF. 2 onpore a ust representation §e'anon ‘under one mu Brooklyn be Fg aed to ie Taenlioat real | Medea er es the Mayor ‘as relat ion. ‘the annual moss to the subject of Legisiature, 80 1 i rs anc market property, and so m 3 Whe reimbursensest ty the’ for the relief of fami: landing Commiiter on Miaane the annie! communication of conlitign of the streevs 6, ‘y « of volunteer by thi red iy ved, Th bia Honor the Msyor as relates to th fei tug Ly aus! Om@Manication of his Honor the Mayor 98 relates to the fortification of the har- bor thereof as relaies d the defences of the olty, 40 such lRareof a4 relates to evcroschmenta on the ‘and commerce of the city, so much thereof as relates to the Tariff act of the last sosaion of Congress ‘and the resioration ing aystent, and 60 mi as relates to war, be referred to the ° mites on National Affairs, Ia answer toa question from Alderman Froment, Alderman Dayton said that the administration had wasted the funds of the country for political purposes and for the benefit of contractors, The people of New York fully understood the mauner in which the pablic money has een squandered, and he (Alderman Dayton) believed that the majority of the people of this city coucurred in the sentiments contained in the report. ‘On 100tion of Alderman Boorr, three thousand copies of the report were ordered to be printed, and it was further directed that the report be published in three daily pape:s—the Heaaun and two others. Tho Roard adjourned to Monday noxt. oT FINANCIAL AND COMMERCIAL. Sunpay, Feb. 16, 1862. The imports at this port, as shown below, con tinue to be too large, and will cause specie to flow steadily outward so long as they are unchecked: The principal items last week were:— Dry goods. « $00,901 Indigo.....+ 140,008 Hides. 312 Most of these are articles which would be con- sumed just ag freely if the duty were higher than it is, especially tea, sugar, coffee, wool, hides, metals and dry goods. The exports of specie were quite large enough last week. If the war goes on much longer an export of a million of specie per week will prove inconvenient, The following are the Custom House tables of the trade of the port for the week and since January 1:— Ixrora. For the Week. 1860. 1861. 1862. Dry goods s.e++-$2/314,692 — 1083,289 959,201 General merchandise. 1,894;609 1,635,201 1,532,317 $4,209,501 2,708,440 2,401,578 26,186,787 28,817,142 16,092,058 Sinco January 1.. 396,088 26,535,582 19,183,636 Exrorts ov Propecr anD MEkCANDISE. 1860. 1361. 1862. 2,064,873 2,144,476 Previously reporte 15,432,004 13,199,800 Since January 1.....$: 244 16,096,967 16,344,276 Exrorrs ov Speci. 1860. ‘Total for the week... Previously reported For tlie weok .... 1861. 1862. $92,350 25,493 1,147,795 942,219 428,222 4,126,164 Since January 1......$1,094,569 453,716 6,273,959 The banks last Monday showed a specie average of $28,196,666, being an increase of $717,083 from the previous statement, and an increase of fully five millions from the date of the suspension of specie payments. It is understood that they wil) show a decrease to-morrow, in consequence of the recent heavy export of coin. We have been im- porting more than we could pay for in produce, and, a-matter of course, we have got to make up the deficiency in bullion. If the relative defi- ciency continues, and gold continues to be main- tained at a premium by the speculators on the Stock Exchange, our banks will presently find themselves in a position of marked inconvenience. The crisis of 1857 was mainly caused by over im- portations of foreign goods, which led to heavier exportations of coin then the resources of the country could afford. We are now on the brink of a similar embarrassment. We are importing more than we can pay for without shipping coin; and, though we have much more gold in the country than we had in 1857, yet still, in consequence of the forced suspension of the banks, a large part of this gold is not available for purposes of commerce, and hence the relative supply is scarcely greater than it was five years ago. With their usual sagacity, a large number of the city banks are aiding the speculators in bullion to their utmost. Though itia obvious that any depreciation of the currency is a bad sign, not only for the public and the govern. ment, but in an especial degree for the banks, which have invested nearly the whole of their capi- tal in government securities, a large number of our prineipal banks are doing a lively business in lend- ing money on gold, and so enabling the speculators to put it upto anillogical premium. It is a trite re- mark to observe that our city banks are generally administered in the interest of any one but their stockholders. But even the many absurdities of the past career of the associated banks fade into insignificance by the side of the monstrous folly of subserving a speculation which tends to discredit government securities, to depreciate the currency of the country, and to promote the exportation of bullion. It is, however, idle to descant upon such universally acknowledged facts as the imbecility of the controlling minds at the Clearing House. The individuals whom accident and ill fortune have placed in positions of influence in banking circles are incapable of resisting the bait of six per cent on call on loans of money on bullion: and the only hope is that Congress will go to the root of the evil, and will lay such a duty on importations of foreign goods as will keep our imports down to the level of our exports of food. Money is extremely abundant. On call the brokers can generally obtain loans on approved collateral at 5 per cent: many loans, however, still pay 6 per cent. First class short paper sells at5a5% per cent. The best names, at longer dates, are negotiable at 6 a7 a8, and names less generally known at $ and upwards. As the Sub. Treasurer receives all the money th. offered at 5 per cent on call after ten days notice, it is not likely that money will fall below five in open mar- ket. The commerce of the country is in so stag- nant a condition that it requires very little money; the supply, under ordinary circumstances, would prove considerably in excess of the demand. But so long as government is willing to pay five per cent for all that is offered, it cannot be expected that the public will be enabled to borrow on much more advantageous tertas. Abroad money con- tinues very cheap. The owners of fifty millions of dollars in England are getting only 114 a 2 per cent for their money, while, if they were less igno- rant and less prejudiced on the subject of our financial affairs, they could readily get five here. Foreign exchange closed yesterday at 115 al for sterling and 4.90 @ 92% for francs, first class bank- ers’ bills in both instances. Gold is worth 104% a 104%, with a slack inquiry. Comparing the price of gold with that of foreign bills, we note no profit on exportations of coin to Europe. Shippers will probably lose money on every shipment. At the same time, there are alarge number of persons in Europe who are so slenderly acquainted with the state of affairs in this country that they insist upon having their remittances made in coip, and there are others who have had coin here for some time, only awaiting an advance in exchange to go forward. If our exportations continue to fall be- low our imports, aa they are doing at present, the supply of bills must fall short of the demand, and the difference will have to be made up in coin. But, before this law of trade can operate naturally, the present speculation in gold must culminate, and specie must fall, or exchange mast rise. The pro- babilities are that the former solution of the diffi- culty will occur. Country banks and other hold- ers of coin will miss their opportunity if they fail to realize on their bullion at present prices. The following table shows the course of the stock market during the past week and month:— Jan. 18. Jan. 25. Feb. 1. Feb. 8, Feb. 15, Missouri ’s...... 49% 42% 41 41% 44 Now York Coutral 83) 88% «= 82 oxdso ai Read cs 40 For the weok .... Previoualy report ing... Mic! Souths guaranteed Panama. 113 112) 113 116 Hudson River... 39 38% (87 88% BBN Pacific Mail....... 84 898 99 oxdoayg The stock market has disappointed leading operators during the past week. We have had a succession of excellent news--better than was ex- pected by the most sanguine bulls. The prospects are even more promising than the reality i* gratifying. It is evident that the rebellion is breaking up on all sides, and that the complete triumph of the government is a mere question of time. Inall human probability victory will fol- low victory on the Union side, and the wretched rebels, who have tried to deatroy the most benefi- cent and noble government in the world, will fall from disaster te disaster until the last miserable remnant seeks a refuge and a hiding place from the just vengeance of the people in some foreign country, The financial policy of the government has taken shape. Congress has followed the ex- ample ef the banks and the merchants, and has yielded to the arguments which, when they were first advanced in this column, were scouted almost on all sides. An issue of $150,000,000 Treasury notes, made a legal tender by law, is now certain, and we have reason to believe that an adequate tax bill will be reported to the Committee of Ways and Means to-morrow or next day, and to the House this week or early next, Yet in spite of all these satisfactory events end prospects stocks ad- vance but slowly, and only at the rate ofa fraction a day. One solution to this singular problem can be found within the precincts of the board room. The leading bear houses, whose prin- cipals have won a wide notoriety by their univer- sal distrust of all kinds of securities, and many of whom did not scruple, in the darkest hour of the republic, to try to earna miserable profit by de- preciating the credit of their country, have within a few days turned tail on their principles, become buyers of stocks, and now hold among them some fifty or sixty thousand shares of railway and other spectlative securities, It is not believed in Wal street that these operators have any higher opin- ion of Galena and Central, and Erie and Toledo, than they had when they were selling five and ten percent lower than now, and when they were eagerly offering them on sellers’ options. Hence it is inferred that they have only bought to sell again at a small profit, and that if any outside capitalists should be so rash as to enter the narket as buy- ers the present bulls would gladly shift their pre- sent load to their shoulders, and would desert to the side with which they have always been id fied. For this reason the leading commission brokers are advising their customers to hold off, until at least some of the present bulls have unloaded. They are fortified in this view by the fact that the stocks have riven very considera- bly of late. The average rise in the speculative railway shares within the past sixty days has been fully 12 per cent, and some leading stocks, such as Pacific Mail, Erie preferred, &c., have advanced 15 to 18 per cent. Itis of course possible that many of these stocks are still selling below the intrinsic worth. But, after all, 82 per cent, divi- dend off, seems a very fair price for a 6 per cent stock like New York Central, and 42 for Toledo, 35 for Erie, and 54 for Rock Island, cannot but be regarded as very high. prices for property which yields no income, and which can only be purchased on the expectation of a perpetual suc- cession of sanguine buyers on speculation. Per- haps, hereafter, when Treasury notes become very plentiful, and business prospects change, these stocks may command still higher prices than those now ruling. We believe that our railroads have before them an era of far more brilliant prosperity than they have ever yet enjoyed. But the imme- diate prospect cannot fairly be regarded as very promising for the bulls. A holder of “federal securities’ is anxious to testify through our columns his gratitude to the money editor of the London Times for the sympa- thetic solicitude expressed in that journal for his interesta in connection with the expense of remov- ing the ‘‘stone blockade.’’ His gratitude is the more lively as the sympathy of the foreign writer is unexpected. For the past twelve months the money writer of the London Zimes has been the most unscrupulous, the most malignant and the most influential assailant of American credit in the civilized world. No calumny has been too ridicu- lous, no falsehood too base, for its adoption, so long a8 it was calculated to prevent the investment of British capital in American securities. A jour- nalist who charges the United States with repudia- tion because the rebel State of Mississippi has not paid its debts, and who calls the British public to witness that ‘“‘secessionist Virginia” has provided the interest on her bonds held in England, while “loyal Tennessee”? has defauited, could hardly have been expected to betray much concern for “federal bondholders."’ It is therefore with sur- prise as well as with gratitude that ‘federal bond- holders” observe the new interest which this writer has taken in their property. They take pleasure in stating that they consider it ot least as safe and about twice as lucrative as investments in British consols. Nor do they believe that the knot of moneyed secessionists in London, who have sne- ceeded in obtaining control of so many British journals, will impair its value in any degree, though they may perform a useful office in teaching the American people to estimate British criticism upon American securities at its true value. ‘The earaings of the Erie Railroad for the month of January wer 1862. 1861. $605,606 04 + 404,507 55 5 Incrowse - “$291,009 43 We beg to draw attention to an advertisement of Mr. I’. P. James, offering a premium to holders or 30 Treasury notes for coupons due 19th inst. As the Sub-Treasurer advertises that he ecan- not remit the amount of coupons, and as, in any case, holders must submit to delay if they collect their interest at his office, the best plan to pursue would probably be to sell the coupons in the man- ner suggested. CITY COMMERCIAL REPORT. Saronpay, Feb. 15—6 P.M. Aswme—Stnail sales were making at $6 25 for pearls and $6 3714 for pots; stock, 437 bb's. pote and 152 pearls. ‘Total, 591 bbis Brrapvercrrs.—Flour—The market was less active, while prices, for common and medium grades,wero rather firmer, with a fair demand from the domestic trade and for export. The transsctions embraced about 15,000 dbls., closing within the following range of pric . $5 65 5% 8 . +565 «a oice extra Western. +590 a 690 -5% @ 660 610 8 640 +645 a 725 . M = a 7% Corn meal, Jersey and Brandy wine. - 290 H F —Canadian flour was firm, while sales were less active, Having embraced about 700 bbis., at our quotations. Southern flour was loss active, while the market was very Orm, with sales of 750 bbis., within the range of the above figures. Rye flour was without altoration in prices, while the sales embraced about 200 bbls. Corn meal was quict atthe above figures, while the sales included 250 bbls. Jercey and Brandywine. Wheat was firm for good qualities, while inferior and common grades were dull and prices irregular, The transactions footed up about 30,000 bueherse at $161 for prime white Indiana, $1 43 for Southern whito, in store, $140 © $148 for common to choice red Western and $140 for prime Milwaukee club, Corn was heavy sod her easior, while sales wore limited and confined to about 16,000’ bushels, at 600. @ 690. for new ‘and 68c. for Western mixed, delivered. Barley was firm and active, with sales of ,000 bushels of State at 82c. a 83c., atthe railroad depot. Rye was steady and ia fair de mand, with sales of 4,000 bushels at 82c. a 88c. on the dock, and at 85c. delivered. Oate were heavy and dull, with ‘moderate sales at unchanged prices. it Covrar—A sale of 2,000 bags Laguayra was made on Private terms. Corton—The market exhibited a stronger tone, while prices were uneven. The sales embraced about 200 balen, to spinners,on the basis of about 28. for middling ap- lands. Some email lots, probably pressed upon the ‘2s, ; the former figure was to fill; 8,000 bushels corn at w fog beth pa 96 paohage 208.; and, by noutral vessols, 660 bie. 400 boxer bacon at 268.5 1 ‘¢ making at $8 40 for layers, . ware quiet and nominal ket was steady, wil for city use at 96c. & ‘no last sale embraced about 2,000 of Manila on private terms. nba was selling for export at 763¢c. cash. Hors were steady and in fair demand, chiefly for do- ntinued scarce. Sales were maki of 1861 at iée. a 22c., and of the crop: and small gales of Scotch pig were ‘& $25 per ton for first, second and Ikon waa quiet muking at $28 @ third class brands, cash. Lisab.—The market was. heavy and inactive. Spanish Galena was quiet and nomiaal. NAVAL STORES were unchanged and gales wore limited, Ous.—Crude sperm and whale were inactive, and no sales of moment trauspired, Linseed oil, under a specu- lative feeling, was firmly heid by citycrushors at 85c. day Or two 1,000 cases have Sales of prime western winter lard wore reported at 65c.; Proctor & Gambles were at 700. @ Tdc.: petroleum was selling at idc. a 1bc., allowing $La $1 25 for barrels, wish some 700 the receipts from wo falling off on secount of high freights; refined was s'eady, ‘$1 bo $1.25 for bari Co. do. at S%e.ad4e., and city Kerosene at 35c., and crude nepiha at 1c. Provedons.—Pork—The demand was fair and prices th sales of 1,000 bbis. at $12 874g a $15 for new wees; $12 25 a $12 6234 for old do.; new prime $9 60 and old -do, at $8 26a $85T'4. Boef was firm in fair demand, with sales of 400 bbls. at $12 a $12 60 for plain mess aud and $14 a $id 26 for extra. moderate comand at 6c. for short ribbed Weatern, with cales of 1,200 bbls. at Tigc. ese in moderate request, and 1g are chiefly confined to lots of Eyst India, dressed in England, aad imported thence to Within two or threo days the sales have embrace: 6.000 bags Rangoon and Java dressed, hore and Olive oll was firm; within doen soid at p. t. Fg ty ™ ‘West are with sales av 2c Butter and ch r Rick. —Tho sales makit 6 days sales of 1,200 bags have been. madeat Tc. a ‘Aks.—The market was steady, with a fair demand from the trace, The sales embraced about 883 hhds., mostly Cubas, including somo lots relining grades Porto Rioo at 7c. a 7}¢6.; Cubas, do., ranged from rolining goods; Tc. 'a T}4c. for grocery grades, good to prime do. ‘TauLow was in some demand, and the markot was within two or three daya Ibs. prime city @f 9c. a to prime Western: 9icc., and 24,000 do. common do. at 8c. , cash. ‘Wiskry was active and closed at a maicrial advance, t 27c. ,allerwards held at 23c, rather firmer, while the embraced about 175, 100,000 do. ors with sales of 5000 600 bbis. Vessels Due at the Port of New York, ‘The following vessels are now at sex bound to this port, some of which are fully due:— Chas. Davenport. Charles Ward Despache. vavid Kimball. FEERESEESEVERE | FYFE eRSSSRGSRSS5-SESeS & Specch of a Loyal Indian. Speech was made by a chief named Yo- to-wah, belonging to the Kansas Indians at Leaveaworth, on the 8th inst.:— Icame to visit your city, and most of the way op foot. force to guard our frontier, nter we would gladly fight if our homes ‘ted; that we would fight with ‘white soldiers and go wherever wanted. Our chiefs say out if the women and children can be oy said the government had not co: fight; there was no fence down and no chance to ling to put in our mite and share Je faces. We are on the border, the tomahawk is buried under our Orchards and we want to goss men. We don’t want to puil tbe tomahawk, we wor! rees. If Tam driven from my little farm I want te die ig my motto. I isgouri rebols—if Tcame to get arms afd a told General If and firesides could be jump over. We are wil {ho tame fate with the we have been insulted, rather prune our will make @ child’s thoy’ll let me alone alone. Tcame up here partly for the white men around me. ‘They solicited my aid; they told me to ask Genoral Hun- tor and the great mon’ hore to station « guard on ler for their protection. And I wish to thank Goueral Hunter and your citizens for the aid they ox- Laat June my life was assailed by Missourians; I waa Ps yd aeaue went to Lawrence and Wyandot wi m mily. 4 to harmonige with my chiefs and do nothing against white man or red man. Loyal mon are to come to me; they leave their arms and money with my wife to be aocreted. If I bave had some troubles | have had more pleasure , bas encouraged us in Bohan pride in interesting mo in the wi , rat a that he has. Lgive my most cordial feeling to the people of Kansas the First and Second Kansas regiments who have it ao bravely for us. -- ipiadle You can putin the pinks and roses Court Calendar—This Da; Covnr.—Part 1—Nos 1343, Tels, 9323, 601,