This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889 edition. Excerpt: ... in assessments, did not much exceed $100,000 for the four years1. The deficit must be ascribed to the industrial ...Read MoreThis historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889 edition. Excerpt: ... in assessments, did not much exceed $100,000 for the four years1. The deficit must be ascribed to the industrial depression that followed the war, and culminated in the crisis of 1819, and to unwillingness under the circumstances to close the era of low taxation inaugurated in 1813 since which time the tax rate had averaged less than $4 per $1,000. During the war also bills of credit had been issued by the corporation, and $135,000 of these had to be redeemed between 1816 and 1820. To meet the deficit temporary loans were obtained amounting to $225,000; the reserve of the $900,000 stock of 1812 was sold, $100,000 in June, 1817, and $100,000 in September, 1819; and for the rest, sales of land were made between the two issues of stock as follows: 29 more collect lots were sold at auction in Feb. 1818 for $25,325, 22 of them to a single purchaser2; 35 out of 45 acres of land at Bloomingdale which had been turned over to the corporation by an official to square his accounts were sold at the same time for $12,170.33; also the remaining curtailed lots in the angle north of Chambers street and east of Augustus for $7,1853; 22 lots at the Varick basin, similarly sold in January, 1819, brought $127,0004; and 14 lots at the Albany basin sold in October, $47,8005. The Albany basin lots were the first and southernmost of the blocks1 reserved by the corporation in granting the water lots on the Hudson river, and filled in for sale. The Varick basin lots had once been granted but had been bought back, and filled in as already noted. These sales with $6,520 received for an isolated lot sold in 1. These data are taken from the Comptrollers report entered on the Common Council minutes of April 20, 1820, in which he reviews the fiscal transactions of the...Read Less
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