New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1842-06-22

Ter SroP PoLIcr.-W hen the Albany Regency
resolved To adopt the stop policy ii became card'
nal principle with them to magnify and eAasge'-
Ate the debt. OF the STATE and to present by ever!
means I'm their power the Use Of The credit oi the
state. for objects Of Internal Improvement
Michael Holman became in lGi the u.uih-p'eee
# the con spiraiors. and in his minsrit. report 81
mat war lab0red prove. that tho actual de"' Q"
he state wa mach larger than It had been report
III 10 .c by the financial officer # the sovernneh'
He for the fret time il tie history OF Inc >iii'
assumed ~ stat, DIT tn loan, which had been
made 70 Railroad. and other object. ct improve
menr. notwithstanding The state held these road-
a, -e,.urif, for tie loans-and be cuieavorcd 10
show debt tending 20 some Seventy Millions. III
ln hour of .upircncss and apathy the W hi-s per-
mirted the Regency obtain the a.,endancy Do 'he
state and Hoffman. Fisgg and Young were -
stored o. place and power. Forthwith upoa tlei
accession. the policy shadowed forth b. II l'm-H
100 1871 j. broadly AID distinctly assumed a. m
grtaf r1rGssrt # The patty and every lDter' 4 oi
The State j. made TO yield 10 their measures. In
order 10 furnish some plausible excuse for imposing
dIec; TAX upon the ladustry and enterprise oi me
people the debt Of the State is again attempted 10
oc increased b. assuming az deit all the loans oi
the credH Of the State. and 10 credit whatever il
given for the security which The State held for IT.
loaas b. the most laberi0u' perseverance, oE ne
part of Flag. Hoffman and Young the patty
were able % carry their TAX and stop-bul through
.nd IL became the law of the and. Now MARI IL
patriotism and honesty of these men. ard e.Neci-
,liv Of Mr. Comptroller ! lar-. in the discharge oi
the responsible duties deyolyed upon him a. -
financial officer Of the Si,Nc. loan on the credit
of the State had been made to tie Ithaca AID Owe
90 Railroad Company. to some Three Hundred
and Fifteen Thousand Dollars and the road. ha''
ing failed 20 paw the in,erc-t the sipcA, was adj
verified to bee sold at auction ~ the late Comptroi-
sr in pursuance TO tie requirements 81 the law
The stock wa. issued BY this very Comptroller
Flar.. and under law which required him mt 10
issue he stock until h. rgs SatJcf ~ IfooiS
thar continuous line Of road was IN operation
aud the bridges, culyerts, inclined p.aDcs. &c tor
double track were also completed; and that tic
Company bad Actually expended F.re Hnalref
Thousand D0iors upon the rosd.
Tie amount OF stock l4aued To niG Comlar !,
it will be recollccted had helped swell. lie debt
If the State. by the estimate Of Holman and bis
associ-tc-. and was among the " pressing De-
,qanGs. 20 be provided orby taxation. When ne
sale came on, the opportunity too tempting
for the ho.esty of NJ. Comptroller foeg. end Re
has bascly ant n'oniy sacrificed NE inicresis
OF The .Sfafc for the sake + an argument; yes
HferaUy fer an Srgumrsf. lie vas clothed with
foil power to purchase in tie road for the Stale.
bu, in IN, financial estimate. of himself and -iher-
no account had been made oi the road aud then.
fprsooth. IL was not the p0.cy of the STATE 10 own
Railroads. And when once the bidder. found the
STATE the CREDITOR. who's claim the road WA
being sold, OF the vay they Of course combined
to get as cheap possible, and dtr.ir hi sPoits
among Themselves And in this manner and for
such purpose, the road was struck of for Forty
FIVE Hundred Dollars. and tho State swindled oct
of over Three H,ndra ThoHsand Dollars.
Whenever. hereafter, application shall De made
for loans to promote object of improvement, these
s.ilful financicrs intended to point the applicants
to the Ithaca and Owcgo Railroad, as at once an
argument against the past, and guide to the fu-
turc.
What say the friends Of the Erie enlargement to
this VIII the Northern Ccunte, be satisfied
with such an answer And may not the friends 81
The Southern Railroad, read in this wan,on abandon
rent Of the interests of the State their doom.
Let November answer. Batavia Repub