[city Documents, 1847-1867] 1863- No.1

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Our schools cannot be too highly valued, offering as they do to all classes the opportunity of acquiring in early life those advantages which contribute to the happiness and good citizenship of the individual. The expenditures for them are scarcely less essential than those for our sol- diers.
While the necessities of the country give to military ob- jects our first thought, nothing should induce us to deny the calls for education.
These departments are both of primary importance, and other mat
...ters of public utility may well be postponed in aid of either of them.
MAYOR'S ADDRESS.
CITY DEBT.
The Treasurer informs me that the city debt February 1st, 1862, was $721,215.00. It is now $829,565.00, show- ing an increase of $108,350.00. This increase has been devoted to the following uses : For aid to families of volunteers, - - - - $60,000.00 " bounty to volunteers, 40,000.00 " grading Madison Square, ----- 6,000.00 " support of poor, ------- 2,000.00 " deposit by Commissioners of Forest Hills Cemetery, 350.00 The city debt draws interest as follows : At 6 per cent, per annum, ----- $285,565.00 " 5^ " " 153,000.00 «

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