Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-29
S93.7O0 %
Oswego Canal,
Cayuga Canal,
Chemung Canal,
Crooked Lane Canal,
Chenanso Canal,
Repairs and collec
$i3l.795 05
S19IlT S2'

Deficit, S79,4l7 S2s
Although the Canals Of New York have cost upwards
of fourteen millions Of dollars, the House will bear in
mind that when New York resolved 10 1917 10 embark
in works of Internal improvement she Immediately set
apart and pledged for the benefit Of her works. several
sources of revenue, which were very productive They
were the auction duties, salt duty, steamboat tax,
and the avals Of sales of nnds These several
Of revenue have yelled nearly six millions Of dollars and
having been pledged in 1917, and guaranteed by the
Constitution of 1921 they have been faithfully aud
regularly applied TO the accomplishment Of their desn
ed object, 10 wit the promotion Of the Internal Improve
ments Of that powerful Commonwealth Sir, few days
ago, received Teller from of The Most eminent
and talented citizens Of New York and whose opn
ions concerning the institutions OF hs own State, are
certainly entitled 10 great weight and beg leave 10 read
short extract from his letter, written in la
from me, asking information Having made some Oh
srrvations concerning the funds TO which ! have
alluded, he adds-"The Erie and Champaign canal debt
is paid and hence the iden has been almost universally
imbibed That these works have been and very pro-
fitable rs mere investments Of money. think they
" have been for some portion of the time since their
completion good investments considered with sole re-
ference to the dividends yielded upon The money in.
vested, but for portion Of The lime they have not
4" and had there been auzaiary fund, and had the
ohoe money Gcen borrowed to construct these canals
and to meet the interest upon the loans until the canals
themselves were brought to yield the necessary in.
come, impression is that the debt would have been
almost, and perhaps quite large as INC original
cost. You will that auxiliary revenue Of from
$500 600 10 $3OU,0p0 per annum was much more than
egus In the interest of the debt at the carly stages of
The work and was therefore contributing hundred
Two hundred thousand dullars annually towards the
" work itself For This reason, the whole debt con-
tracted for these canals but little exceeded seven
millions, while the actual cos, exceeded ten and
huff millions, if it did not reach twelve. &c. also,
after the canals completed and began 10 pay
i" large amounts of toll, The auxiliary funds
continued towards The extinction Of the debt be-
ing pledged thereto by our Constitution. They
" clSo very much enriched by the construction Of
" the Canals The increase Of our population and the
growth of fnde and frequently paid 10 the canal fund
" uIure than half million per annum They, therefore,
F." Of themselves, constituted sinking fund from the
" commencement which kept down the amount OF the
6 debt and after il fully contracted. rapidly cXlin
" guished il. As have before said these canals too,
-" productive beyund expectation, and acted with
" The auxiliary revenues 10 produce the result of final
" ex,nguishnent of that debt Such Sir are the
lments Of MIR. Wright OF the Senate Of the U. S. He
states that had not the Erie and ChampIan Canals
ceved the benefits Of The "auxary revenues the debt
incurred for their construction would now be "amost,
and perhaps gate as large as the original cost. =
The Chenangn Canal cost $2270,C00 and, after
speaking Of lis being an snnua charge upon the Trea
sury, MIR. Wright remarks 81 think am safe in say
ing that expect will redeem its debt, and
many suppose that il will always be charge upon The
Treasury" Mr.. Speaker have adverted particularly
to the public works Of New York, because know that
many persons besides the committee entertain opinions
which hunbIy deem very erroneous in regard 10 the
Of lhose improvements. That the Erie
and Chumpain Canals are productive admit; that The
other cana!s not so, have shown Whether the
Erie Gana will IN Of n canal d g so%
menced; and in January last Governor Marcy stated in
his Message TO the Legislature, that according to the
best estimates that had been made, fifteen millions Of
dollars would be required for the enlargement Of the
Erie Canal and the completion Of other unfinished works
hlnre NIL has be- n he
that fifteen millions of duars have been appropriated by
the Legislature of New York for the enlargement Of the
Erie Canal aone-Thc Internal Improvements of Penn.
syvana do not appear to succeed well those Of
New York. The present debt of Pennsylvania on ac'
count Of Internal improvements, is So ,220 DOB
Estimated cost of extension and completion
Of several works, 1904 O99
Total debt when the works are completed S24 53 lO2
Gross amount of tolls in 1886, e3l ,93l
Deduct expenses in 1886 6u6 $50
Amount Of nett proceeds in 1886, S225 012
Gross amount Of tolls in 1887, $40 $50
Expenses Of Locomotives, repairs, and col
lection Of tolls, 6C2 SG0
For rrpairs not made in 1897 for want of
funds 2l1 347
Sol42lG
Nett proceeds after deduc,ing cost Of &C.
tuaI repairs, and estimated cost Of repairs
needed SlG1130
ii appears, then, that the nett from the Stale
works of Pennsylvania in 1885, was about one per
the due by the State account Of Internal
Improvements. and in 1857, not quite une per cent on
The debt Yet, the committee have grayely informed
this House, that these works are 'yeldng prnfs which
are sufficient net only 10 keep dooR the interest on The cost
Of construction, Lutpronsing in U years To reimburse
The principal and ultimately reiicoc he people from The
burthen Of tarati0n."
The facts which have Just stated in reference to the
works OF New York aud Pennsylvania, are derived moi
from the newspapers Of the day. but from authentic do
cunirnis The reports Of the canal commissioners Of
N. York and Pennsylvania and also the report of The
Treasurer of the latter Slate are the authorities 10 which
have referred. The reports Of those commissioners DO
not sustain the committee do they contain any thing
likely TO confirm or encourage that popular deluson
which prevails IN reference the productiveness of The
Internal improvements of N, York and Pennsylvania,
when viewed as mere investments Of money.
That the Internal improvements in each of those
Suites, have been conducive 10 The power and prosperity
OF those States, have not denied, do now. New
York and Pennsylvania were, however quite prosper
GUS and wealthy before they commenced their public
works. So rapid has been the increase OF population
in New York that, from The year 1890 lc2U, period
of 80 years. the increase Of population million
and thirty thousand persons-the increase of popu
Eaion in Pennsy vana for The period six hum
dred and fifteen thousand inhabitants, while the increase
Of population in Virginia, during the like PERIOD
only three hundred and seventeen thousand. Thus, it
appears that the increase of population in New York,
for the 80 preceding the completion of her works
of Internal improvement, was than three times the
increase in Virginia, and The increase of population in
Pennsylvania nearly double that of the increase in vr
GINA In 1920, the City Of New York had population
Of hundred and twenty three thousand souls and
Philadelphia population of hundred and twenty
thousand while ten years thereafter, in $780, the popu
la,ion Of Richmond, Lynchburg, Petersburg and Nor
.e Report Of the Comptroller Of New York. made 10
the Legislature the 9th of Junusy, 1885, following
upon the lateral canals Of New York "he tolls col
lateral canals insufficient deay the ezpenss
maintenance, and the interest the d6 contracted
These Deficiencies by law
upon General Fund and they have
upon Treasury The paid Treasury for
tho eight mako deficiencies in the
lateral Canals S69GO0i 49, The paid from Treasury
Of these S2
1856 59nd in the Report of the Commissioners Of
Fund. estimated that the deficiencies for tho
which must BIO paid from The Treasury will be S2aa 4
The Report OF that officer only sew, that the arising
the lateral canals inadequate deay expenses Of
and the interest the contracted
their construction exhibits the striking fact that the dtsc