New-York tribune., 1841-06-01
NEW-YoRK, TUESDAY, JUNE 1, 1871.

Z
be unor-a consistent and lead tie desired result lhe
limits of the canal prescribed beyond the reach OF
probable chang, CITIZENS vii be the better eabe
make iheir continuous and substantial improvements aud
direc; their the increase OF their wealth and nap
pincss The other States. these improvements
authorized VIII nd project guaranty a the prodacis
,heir ac1-tr through canal, viii always mad tree
and easy and o= the Atlantic and the Lakes
and trade and transportation viii be invited TO IT, e. the
s,rorg inducenea; of interest.
This report was signed by the Hon. MIcH,fr HoFfNAS
and the Hon william c. BoUcK. OF the truth OF these
stirring and magnificent pictures Of the coming wealth and
greatness of purpose to speak lhey
had their influence the proper quarter he PROJECT VS.
summary adopted without any ot the details which oTtlna-
r accompany such rreasur The Legislature took no
responsibility. Il authorized the canal board % enlarge
the Erie Canal to such extent and in such in
their discretion they might deem the interests et the State TO
require. No LIMIT imposed a to tine Iaode' "idtH
depth OF cost The Canal Beard examine, estimate
and decide The Board fixed the enlargement serenity
feet bg seren and under that 1t wod cost only
t,rere millions of dollars the deat commenced whlch
asceaincd to at least NIL dot
Jars and which charged By them the WhigpaTi he next
legislative session. naturally brought the acts Tor con
s,rIc,l the Black River and G2nesec Valley Canals and
loanng three millions of dollars to the New-EorA and Erie
Railroad Company.
We have rot drawn your attention. fellow citizens. to the
history Of thc.c public works with any design prejudice
your minds against their present claims the State or their
ultimate utility parts of system OF lEieria
Improvements Blu; wished uuye to you the origin OF
present State liabilities, and show you who are and
who the real authors of whatever OF State debt exists
We wished show you that the individual who row leads
his party panic effort impair the credit ot the state
and arrest her public works the who Canal
Commits soner furnished the evidence which these works
undertaken, and advised their Immediate completion
We Ano indeed tha; the pretcXi has been set that no
expenditure originally contemplate beyond the net an
nual revenues the canals Can this be trlc How many
wears would have consumed the completion OF these
works Suppose attempt had been made TO prosecute
no l,-s uclr
ing the annual appropriations made 1888 tor the AID OF
the General Fund the yearly OF the canals
would no, exceed SIX hundred thousand dsars At this
OF expenditure forty would be consumes IN paying
out wenty-;our millions of dollars, which til estimated
cost of the work. But much of the most pa"nent WORK
present canal has failed in the course u ten years
Before fox would pass and the Enlargement become
available the plan proposed great portion OF It's unused
work would fall into decay The business Of reconstruction
must then be commenced, a scale expensive as the
original and thus neycrcndng job would be on hand one
portion fa ling into ruin while another portion beng re-
stored The fabed story of Ssyphus, who was doomed Dy
the gods to roll to the top of huge which,
as soon as II reached the top fell bnc 10 the r'"'" %
leaving work eternal, but exemphcaton OF such
plan of enlargement 1t is impossible 10 reconcile such
scheme with the agacy and experience OF the public officers
who then composed the Canal Board with the reports on
which the Legislature induced pass the act of enlarge
mont
The firm btr prudent pulley OF the Wing Administration
N carving forward the works completion, for the use OF
the prsent generation ana such 10 render them
at an early DAY and prevent the possibility OF u
mate taxation has received only support but that oil
respectable porto. of the minority and we can now con
prau!c YOU upon triumphant success he reports OF
the Standing Committees Finance IN the Senate and
Assembly exhibit full and faithful detail OF the reS"VTcc
and condition the State, and abundanty evnce the WE
dom OF tna policy We declare - YOU IN all sincerity oar
entire confidence the reports and IN the sound and stpc
condition of cur alars Whether the efforts OF political
panic-rnakcrs viii continue, remains to be seen
Daring successive campaigns the stalking horse o
tbp
ROW see MIN sadded and rded BY his legislative grooT
ready for third course We wish uoty you OF ms coming
and TO assure YOU that in his present broken and spawned
condition. he vii scarcely be able TO bear the additional od
his new and less skul managers nave put upon MN
We need cXpatiate upon the difficulties ahd choa'
basement which have prevailed the financial world tor the
las, lew wears You know because you have tell them
The blow which was aimed BY Loco-t ocoIsm al me
commercial and trading community next te upon IN. IN,
INC institutions and the currency OF the country through
them il reached the faspccd and more secure mechanical
and agricultural interests and lastly grown bold Win sue
cess i. was directed from the high places OF the Government
upon the credit aud faith of the States. f.eresehl'o"
.nlur,rou and untrue eagerly circulated mol o ~
home bu, in forei. and capitalists, VINO had
hitherto sought State Stocks with avid the safest pos
sb investment were led doubt -r value on induced TO
speculate ;pen the fears others These incendlary efforts
were but TOO successful States which had embarked boldly
and extensively in works improvement, were deprived O.
the credit by which they had acquired means before e
had sufficiently completed their systems 10 derive revenue
adequate pay their interest An arrest OF 'le't
discharge Of their aborers and general enloarrasi' ana
min followed That such mas been the result IN TINS
State ss; in our candid judgement be imputed chiefly to
the prudent counses and energetic measures OF those VINO
have had the public works and public stocks under Their
control Had the panic efforts OF certain eads men OF Tue
Oorosition succeeded mad the example OF the General Gov
eminent in arcs,ing public and selling oil their ma
i. =, .ne,enb Of the cost, even within State,
spread that alarm which seemed 10 have been 'tcnded the
OF our credit and the total Suspension OF our
d have s,yeed the ,riuIaphs and added the
rophies OF Loco-FocOism But in NeSl 9r IN, me IRE
deemable principle mas prevailed under hs man
BY tfe favorable influence Of ;he closing acton OF
W ,d TocoFoco management suspended specie pay
mer IN 1887 resumed and thus haze continued firm
While wo-,hrls all the States in the Union controlled y
our opponents hive suffered their BANKS 10 remain
Jar he greater part OF four years this State and the Ne"
.oL - - .-:-..4 IN. .nnck. Iheir eNalnnLe