A Century in the Comptroller's Office, State of New York, 1797 to 1897Roberts, James A. (James Arthur)
History
A Century in the Comptroller's Office, State of New York, 1797 to 1897
Roberts, James A. (James Arthur)
Finance -- New York (State); New York (State) -- Biography; New York (State). Comptroller's Office
Mr. Collier had been a Federalist and a Clintonian, but it was as an
Anti-Mason that he was elected both to Congress and as Comptroller. He,
too, was largely indebted for his appointment as Comptroller to the
potent influence of Thurlow Weed. The administration was a short but
efficient one, and Mr. Collier proved himself through life an able and
discreet man.
The Legislature, which for several years had been Whig, in 1842 became
Democratic, so that by concurrent resolution, on February seventh they
were enabled to remove John A. Collier and re-appoint Azariah C. Flagg.
During his second term Mr. Flagg performed the multiplying duties of the
office with his usual fidelity, and to the satisfaction of the people of
the State. There seems to have been no important enlargement of the
duties of the office during this period. By various statutes, passed
prior to the Constitution of 1846, the State had loaned its credit to a
number of corporations, mostly railroad, until, in 1845, the State debt
thus incurred, called the "contingent debt," amounted to $5,235,700.
Provision was made for a sinking fund, and the management of this fund
was placed with the Comptroller. Corporations have no souls, and,
consequently, we find that of the credit thus loaned the State lost
$3,665,700. From the additions to and accumulations of the sinking fund,
the last of the contingent debt was extinguished in 1877.
[Illustration: L. Burrows (signature)
_16th COMPTROLLER_]
By chapter 350 of the Laws of 1847, passed during his term, the
Comptroller was required to make a report of the fiscal year before the
close of the calendar year, and to present the same to the Legislature
shortly after the commencement of its session.
Public-domain text, read in full here on John Shaqi.
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