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duration ; for if the real estate disposable in 1862, or the great mass of it, can be kept undiminished until that time, the Church will be in condition to prosecute the great plan of ministration she has entered on with an efficiency which cannot fail to produce results of the highest importance to the city and the State. If I have thought the Vestry in error in this respect, it is not because I have considered them lacking in liberality, but because they have yielded, under impulses highly honorable to their feelings, to an outside pressure for contributions, which, in view of the deep and lasting interests involved in the question, I would have resisted.

This is, in truth, the only ground of apprehension in regard to the success of the plan of religious instruction for the poor of the lower part of the city. It must utterly fail, if Trinity Church, for the purpose of meeting a regular series of annual deficits in her revenue, caused to a great extent by her contributions to other churches, shall consume her real estate ; and for this reason I would incur a temporary inconvenience for the purpose of carrying out a great system, the benefits of which would be incalculable in value and endless in duration.

To hold her real estate until it is unencumbered and can be sold without sacrifice is in no just sense an accumulation of capital. To accumulate is to augment by a re-investment of income, or, in other words, to convert revenue into principal. If her income exceeded her necessary expenditures; if, instead of contributing it to the wants of others, she were to withhold it and use it for the augmentation of her capital, she would be fairly obnoxious to the imputations cast upon her. Instead of erring in this direction, she has, as has been shown, been for a series of years expending large portions of her principal, and mainly for the purpose of making donations to other parishes.

In proof of this I present the following statement of the receipts and ordinary expenditures of the Corporation for the last ten years, with the annual deficits of income and the allowances and loans made to other churches. I have prepared it from the books of the Corporation, and it has been examined and compared by Mr. Dunscomb (the Comptroller) and myself with a general statement of the financial affairs of the Church for the same period, by Mr. Roach, an experienced accountant, and I believe it to be in all respects correct :

Revenue...
Expenditure..

Deficit...

Revenue .....
Expenditure..

Deficit...

Revenue .....
Expenditure...

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Deficit...

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Expenditure.

Deficit...

Year ending April 30, 1847.
$68,498 47 | Allowances to other parishes $10,825 00
94,791 93 Donations

5,134 00 Loans

600 00 $26,293 46 Total allowances, etc... $16,559 W Year ending April 30, 1848. $74,258 54 | Allowances to other parishes $10,175 00 95,984 28 Donations

7,800 50 Loans

3,900 00 $21,725 74 Total allowances, etc... $21,875 50 Year ending April 30, 1849. $78,869 85 | Allowances other parishes

2,600 00 88,096 79 Donations

4,889 14 Loans

3,800 00 $9,226 94 Total allowances, etc... $21,289 14 Year ending April 30, 1850. $77,799 63 | Allowances to other parishes $13,000 00 95,741 11 Donations

4,705 18 Loans

12,198 00 $17,941 48 Total allowances, etc... $29,903 18 Year ending April 30, 1851.

$75,871 31 | Allowances to other parishes $13,683 00 100,233 44 Donations

4,488 13 Loans

9,377 00 $24,362 13 Total allowances, etc... $27,548 13 Year ending April 30, 1852.

$77,979 77 | Allowances to other parishes $14,715 00 108,317 39 Donations

12,806 72 Loans

7,650 00 $30,337 62 Total allowances, etc... $35,171 72 Year ending April 30, 1853.

$86,073 97 | Allowances to other parishes $16,785 00 110,592 66 Donations

Revenue...
Expenditure...

Deficit..

Revenue .....
Expenditure..

Deficit...

9,186 21 Loans

7,700 00 $24,518 69 Total allowances, etc... $33,671 21 Year ending April 30, 1854.

$85,710 53 Allowances to other parishes $21,706 00 137,0 99 Donations

6,916 26 Loans

17,100 00 $51,368 46 Total allowances, etc... $45,722 26

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1848....

1851.

Year ending April 30, 1855. Revenue..

$95,195 72 | Allowances to other parishes $15,058 33 Expenditure... 114,677 30 Donations

7,290 16 Loans

2,000 00 Deficit...

$19,481 58 Total allowances, etc... $24,348 49

Year ending April 30, 1856. Revenue...

$91,773 36 | Allowances to other parishes $15,500 00 Expenditure. ... 139,918 79 Donations

10,552 42 Loans

6,000 00 Deficit .....

$48,145 43 Total allowances, etc... $32,052 42
RECAPITULATION.
DEFICITS.

ALLOWANCES, ETC.
1847....
$26,293 46

$16,559 00
21,725 74

21,875 50
1849.
9,226 94

21,289 14
1850.
17,941 48

29,903 18
24,362 13

27,548 13
1852.
30,337 62

35,171 72
1853.
24,518 69

33,671 21
1854.
51,368 46

45,722 26
1855.
19,481 58

24,348 49
1856.
48,145 43

32,052 42
$273,401 53

$288,141 05 Analysis of Allowances, etc.

DOXATIONS. 1847... $10,825 00

$5,134 00

$0,600 00 1848. 10,175 00 7,800 50

3,900 00
1849.
12,600 00
4,889 14

3,800 00
1850.
13,000 00

4,705 18

12,198 00 1851. 13,683 00 4,488 13

9,377 00 1852. 14,715 00 12,806 72

7,650 00 1853.. 16,785 00

9,186 21

7,700 00 1854.. 21,706 00

6,916 26

17,100 00 1855.. 15,058 33 7,290 16

2,000 00 1856.. 15,500 00 10,552 42

6,000 00 $144,047 33 $73,768 72

$70,325 00 Allowances...

144,047 33 Allowances and donations.... $217,816 05 Loans...

70.325 00 Total....

$288,141 05

ALLOWANCES.

LOANS

By this statement it appears that the deficits of revenue in the last ten years amount to $273,401 53, and the amount given away and contributed to the support of other parishes is $288,141 05 — exceeding the aggregate deficit by the sum of $14,739 52. And, as I have already said, the whole deficit for the ten years (incurred for the benefit of others) has been made up by a sale of real estate, and is to that extent a consumption of principal.

Several of the witnesses have testified that in granting aid to other churches the Vestry have acted under the influence of party feeling, refusing assistance to those who differ with them in opinion, and granting it freely to those whose views are in accordance with their own. I feel it to be my solemn duty to repel this imputation by stating my own experience. I have been more than seven years a member of the Vestry, and have been on terms of the most unreserved and confidential communication with my associates. I have discussed with them the propriety of granting and declining applications for aid, not only at nearly all the meetings of the Vestry, but in many cases in private interviews; and no reference has ever been made by me or by any one of them, at any meeting, official or private, to the party views of any of the Rectors or religious societies presenting such applications. The party divisions which have existed for several years in the Episcopal Church, and which have not only impaired its capacity for doing good, but dishonored those on both sides who have been active in keeping them alive, have never been a subject of discussion at any meeting of the Vestry which I have attended, nor have they been alluded to in connection with applications for aid. I have taken a deep interest in several applications myself, and have, perhaps, had some influence in securing grants of money to the applicants; and in no instance have I inquired what were the particular views of the Rector or the parish to which they belonged. I do not even know to this day whether they are High Church or Low Church. The only inquiries I ever made were in regard to their pecuniary and social condition, and their need of assistance; and these considerations, together with the ability of Trinity Church at the time to make the grants asked for, and the probability that the grants would be effective for the objects in view, have been the only ones which have guided me in my votes. I believe the other members of the Vestry have been equally free from the influence of party motives. My belief is founded upon my knowledge of them as enlightened, conscientious, and liberal men, and upon all they have said and done in my presence through a familiar association of seven years. I cannot be supposed to have been deceived in regard to their principles of action but upon the hypothesis of a depth of dissimulation on their part, and an obtuseness of perception on my own, too gross for the largest credulity.

I can say with the same confidence that I do not believe those who have the management of the affairs of Trinity Church have sought, during the period of my connection with them (a period of a good deal of excitement), to influence Rectors or parishes on any question in the diocese through the instrumentality of her donations. It is due to others to add that I have for several years attended the conventions of the diocese, and become acquainted with a large number of the clergy. I have rarely met a more intelligent or independent body of men; and I regard the intimation that they would be governed in the doctrines they teach, or in the official acts they have to perform, by considerations arising out of the pecuniary aid their parishes may have received from Trinity Church, as alike ungenerous and unjust.

In a word, I consider all these imputations of influence on the one hand, and of subserviency on the other, as the offspring of mere groundless suspicion; and they are, in some instances, so loosely hazarded as to make it the part of charity to refer them to the same narrow and distempered views of duty which are falsely imputed to the Vestry of Trinity.

I have thus laid before the Committee with entire frankness a statement of my connection with Trinity Church, and the part I have borne in the management of her financial affairs, and the great scheme of religious and temporal ministration which I desire to see carried out, under her auspices and through the aid of her endowments, in the lower districts of the city. I do not believe the importance of giving effect to this plan can be overstated. The funds of Trinity Church are the only resource for accomplishing it: she must execute it, or it will fall to the ground, and the district in which three of her church edifices stand become nearly desolate for all spiritual purposes. The prosperity of the city is deeply involved in it. Destitution, temporal and spiritual, goes hand in hand with crime; and when even now the spirit of acquisitiveness, which is characteristic of

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