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New York City Loan / Federal Government #237681

CBS Evening News for Thursday, Nov 13, 1975
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(Studio) New York City turns up record of 163 year old loan to federal government
REPORTER: Walter Cronkite

(New York, New York) During War of 1812 New York City lent government $1 million for defense In 1815, Mayor DeWitt Clinton asked Congress for money. Treasury Secretary A. J. Dallas outlines plan for repayment. [New York City archivist Carlyle BENNETT - says no indication loan repaid. Counting interest, government now owes NYC over $11 billion.] New York City council president Paul O'Dwyer points out matter to Treasury Secretary William Simon in letter. Bennett losing job due to job cuts. Treasury Department searching its archive.
REPORTER: No reporter given

(Studio) Repaid loan would cover New York City budget for almost 11 mos.
REPORTER: Walter Cronkite

Cronkite, Walter

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