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Administrative History

An act of 1792 provided for distributing monies of the state to appointed county commissioners. They were authorized to make loans for purchase of improved real property, secured by mortgages given by the purchasers. An act of 1837 provide for distribution of surplus monies received by New York from the United States Treasury, a fund called the United States Deposit Fund. Appointed county commissioners made loans from the fund to purchasers of improved real property, the loans being secured by mortgages.