A Memoir of the Construction, Cost, and Capacity of the Croton Aqueduct
It is not to be doubted, that it will promote the convenience of the citizens, and secure the final success of the object, to let in the aid of a capital to be created by the voluntary contributions of individuals. This may be obtained on a plan like the following :
Let a company be incorporated, of all those who shall subscribe to the fund, with a capital not exceeding a million of dollars, to be composed of shares of $50 each the ;
affairs of which to be managed by seven Directors, annually chosen by the subscribers,
except that the Recorder of the city, for the time being, always shall be one. Of this capital, a privilege to be reserved to the Corporation of the city to subscribe for any number of shares not exceeding one third to enable them to do which, a grant ;
of the auction duties to continue to be solicited, and a power to be asked to raise on the city, an annual revenue equal to the interest and gradual reimbursement of the principal of such additional loans as may be found necessary. The Company to have powers similar to those which the draft of the bill contemplates to be given to the Corporation.
The residue of this paper, which is signed Alexander Hamilton, relates to the health laws, &c. After the communication was read, the Board came to the following determination :
Whereas, By the Report of a Joint Committee from this Board, from the Chamber of Commerce, and from the Medical Society, with the Commissioners of the Health Office, dated 14th January last, a variety of regulations and improvements in this city were recommended as of primary importance to the health and welfare of the inhabitants and ;