CITY OF BOSTON. In Common Council, Thursday, Dec. 30, 1869. THE Committee on the Reduction of the City Debt for the year 1869 have the honor to REPORT: That the following exhibit, made up from the books of the Treasurer and Auditor of Accounts, presents the indebtedness of the city, at the close of business, December 29, 1869: At the commencement of the present financial year, May 1, 1869, we find that the consoli- . dated funded debt on that date, as will be seen by the Auditor of Accounts' printed Report, No. 57, p. 187, was Since that time, loans have been negotiated on an order of the City Council, to the amount of Making total funded debt of Deducting from this amount all the debt which has become due and been paid this finan cial year We have left a funded debt, December 29, 1869 Amount carried forward $16,959,500 91 7,500 00 $16,967,000 91 359,500 00 $16,607,500 91 $16,607,500 91 Amount brought forward, To which add for loans authorized but not negotiated To which is to be added the amount advanced by Treasurer on account Oliver street $16,607,500 91 6,553,500 00 $23,161,000 91 272,937 93 Total funded and unfunded debt, December 29, 1869, of $23,433,938 84 This debt the Auditor of Accounts classifies as follows: Which increase of debt is accounted for as follows: The books of the Treasurer and Auditor of Accounts show that the means for paying the debt of the city consist of the following items, all of which are by ordinance specially appropriated for that object, viz: Cash balance in the City Treasury, May 1, 1869, to the credit of the Committee on the Reduction of the City Debt and six per cent currency bonds of the city of Boston, held by the Treasurer, belonging to said committce, as stated in the Auditor of Accounts' printed Report, No. 57, page 170 Cash received since that date, being payments made into the City Treasury on bonds and mortgages on public lands, Amount carried forward, $6,339,757 78 119,546 41 $6,459,304 19 Amount brought forward, $6,459,304 19 Cash received from sales and rents of public. Deduct payments on debt since May 1, 1869, Add bonds and mortgages on public lands now in the City Treasury, all of which are considered good Total means on hand for the redemption of 2,403 66 577,000 00 $7,038,707 85 359,500 00 $6,679,207 85 842,606 70 the debt, December 29, 1869 $7,521,814 55 THE DEBT AND MEANS OF PAYING IT OFF. The consolidated debt of the city, funded and unfunded, December 29, 1869, amounts to The consolidated debt of the city, funded and unfunded, December 31, 1868, amounted to $18,428,502 75 Amounts carried forward, $18,428,502 75 $15,912,124 29 Amounts brought forward, $18,428,502 75 $15,912,124 29 This will show that while the gross debt has been increased during the year, $5,005,436.09, that the means for its redemption increased during the same time $1,903,504.80; and that the net increase of the debt during 1869 up to the time of making this report is $3,101,931.29. Respectfully submitted. NATHANIEL B. SHURTLEFF, Mayor. WILLIAM G. HARRIS, President of the Common Council. FRANCIS A. OSBORN, Chairman Committee on Finance on the part of the Common Council. |