Lights and Shadows of New York Life: or, the Sights and Sensations of the Great CityMcCabe, James Dabney
History
Lights and Shadows of New York Life: or, the Sights and Sensations of the Great City
McCabe, James Dabney
New York (N.Y.) -- Description and travel; New York (N.Y.) -- Social life and customs -- 19th century
"It was in this office that he did what gave him a national standing, and
led many people into the notion that some good had come from the Tammany
Nazareth. The Chamberlain was custodian, under the old charter, of all
city moneys. Such portions of these funds as were not required for
immediate use, this official deposited in some of the banks, and the
banks allowed interest, as is customary, on the weekly or monthly balance
to his credit. Previous to Sweeny's time the Chamberlain had put this
interest money into his own pocket--and a very handsome thing Mr. Devlin
and his predecessors made out of the transaction. But Sweeny startled
the political world, and caused a great sensation, by announcing that he
should turn these interest receipts into the City Treasury. Tammany made
a notable parade of his honesty and public spirit, and the capital he
gained in this way has been his chief stock-in-trade for the last two or
three years.
"But in the light of recent developments, Mr. Sweeny's course does not
seem so purely disinterested as it once did. He was in full control of
the city funds on the memorable Black Friday of two years ago last
summer, and sworn testimony taken by a committee of Congress shows that
he had a share in the doings of that eventful day. To what extent the
money in his official charge was put at the service of the Wall street
Ring, the country probably never will know; but the common belief of New
York is that Mr. Sweeny made a good deal of money out of his speculations
on that occasion. That he has been more or less concerned with Fisk and
Gould in various Erie Railway stock operations, is matter of general
notoriety; as it is also that most of the lately-exposed fraudulent
transactions in connection with the so-called new Court-House and other
public buildings occurred during his incumbency of the Chamberlain's
office. The greater part of those transactions yet brought into daylight
refer to county affairs, it is true; but city and county are one except
in name, and we have only just begun to get at what are designated the
city accounts.
Public-domain text, read in full here on John Shaqi.
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