History of Westchester County, New York, Vol. I
The Bounty Bonds. -- The first burden which was officially taken on itself by the county of Westchester during the war came in the shape of bonds issued by the Board of Supervisors under the provisions of an act passed by the Legislature March 1, 1862, "to relieve the families of volunteers in the field." The amount issued was fifty thousand dollars, which was placed in bonds of varying amounts, bearing seven per cent, interest ; issued to the supervisors of the different towns for sale, the proceeds to be expended in relief to the families, in much the same manner as that adopted by the Port Chester Volunteer Committee. The amounts issued to the different towns varied from twenty-five hundred dollars, or less, to ten thousand, according to population. The last of these bonds was paid off in the year 1867.
From this time the county took no further action, in regard to the war, till July 27, 1864, when, in consequence of the drafts, the increasing claims of the bounty jumpers and the difficulty the towns found in floating their bounty bonds, the burden was assumed by the county, as it had been in the relief of volunteers, in 1862. The sum of five hundred and sixty-five thousand dollars was raised in county bonds ; distributed to the supervisors of the towns, as in the case of the first set of relief bonds, the rate of interest being seven per cent. ; the principal payable in periods ranging from twelve to sixteen years. The first hundred of these bonds was cancelled at the end of the year 1876, and the last sixty-two in April, 1881. The amount raised all went to answer a single coil for troops ; and, when the next one came, the State was obliged to step in to help the towns, which