New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1844-05-23

Deduct amount contributed by The
Canal Fund 10 the GeneralFund, S2.o37 COZ
Net Rev from the above sources So'ooo''io
The Canal Fund no longer derives revenue
from these sources, except Sales of Land, as they
arc now applied to the General Fund.
Mr.. Davis's Report goes on to show that the
Canal Revenues, from tolls, even with the bur-
then of eighteen millions expended upon untln-
ished and unproduc;ve works, arc able 10 sustain
and overcome it all, and pay off the entire debt
OF the State withou. taxation.
The tolls for the season Of navigation IN
1912 coi
Do. in 1913. <,ool, lo2
Showing an actual increase for the year Of S'32fol
A Table annexed to the Report shows that. II
the tolls should increase the like amount from year
10 year, for the next nine years they could pay OF
all the dsJt attic State BY September, 1883 and
leave net surplus Of more than SIX hundred
thousand dollars in the Treasury. But although
this is founded upon the actual results for lo43
as compared with the preceding year, the receipts
for series Of years may fall short of this esti-
mate. Then let us make liberal allowance ior
over estimates. Suppose the annual increase Tor
the next thirteen years to be from year to year
only Sl66, 100, or only one half Of the actual IN
crease from 1912 to l513, which Will not differ
materially from the annual seven per cent ratio
of increase for series of years, as proved by the
able report Of the Canal Board of lo4O, and ad-
United in the Report of Mr.. Dcnniston, OF the
Senate. as the usual annual increase. Another
statement accompanying the Report shows that
this moderate rate OF increase will pay oil the en-
tire debt of the State without taxation by the Goth
Sept. 1857, and leave a balance OF nearly three
millions in the Treasury. In each OF these estl-
mates the ,rholc debt Of the State is included, en-
bracing all dcfaulting Railroads, and the Canal
Fund is charged with an annual contribution oil
100000 to the General Fund.- toward the or
binary expenses of Government The annual cx-
pcnses of Canal Repairs Salaries, and all other
items chargeabe to the Canal Fund arc estimated
at S450,0O0, and the interest on the State debt is
calculated at 81 per cent.
The tolls for the season oil navigation OF go oo,
1S43, were s2,V'V,'oS
Canal repairs and expenses. $i5O,OOO
Interest on State Debt OF
S23,S5l So. ............ 1871, 1856
Leaving surplus from tolls alone Of 1919, i46
not including 1897 for rent Of surplus wa
tiers.
Any surplus will be sufficient ultimately topay
off the debt 1t is mere question OF time But
starting, as we do in this statement, with large
item of interest for the first year of $50, 1t
is very obvious that, as the debt is reduced, the
net revenue increases so that although the pro-
gross of reduction is at first slow yet it increases
with accumulated force, after the lapse of few
wears, as the item of interest lessons.
By statement appended to the Report, it is
shown that the Canal Revenues of the last year,
from tolls alone, soithout any future increase IN
the amount Of tolls receired, would pay an an
nual contribution to the General Fund for the
expenses of Government of 100000, the Canal
expenses and interest on the State Debt, and cx-
tinguish the entire debt Of the State in 1885,
And then, at the expiration of this time, pos
tcrity' will have all of our Canals costing them
nothing, and yielding a net revenuc-suPposing
there was no increase Of tolls-of more than
Million and Half of Dollars
But no man, even Of the number OF those who
are afflicted with sort ofmOR0ndnid in their hatred
of the system of Internal lmprovements-no not one,
will have the boldneSs To contend that the tolls have
reached their maximum.
The One-Day Presidential Election.
Through the kindness of Hon. II. FISH of this
tial Election Bill as originally presented and as
it passed the House. The original bill prescribed
uniform election of Members Of Congress also
on the first Tuesday in November this was
stricken cut in Committee and the bill as passed,
regards only the choice of Electors Of President,
and designates the Tuesday merit after the first
Monday OF Nov. as the day on which they shall
be chosen. (Thisis the day on which our n. York
State Election is heidi Although VIC should
like this time TO hear from PENNSYLVANIA before
our own Election we won't stand about it; and
if this bill can be carried into effect without re.
curing Extra Sessions Of the State Legislatures,
we hope it will pass At any rate, we trust it
will take effect on all future Elections if not on
this. Here is the bill:
BILL
To amend &c; epted " An act relative to the election Of
President and Vice President OF the aited states. and
declaring the officer who shall act rs President and Wee
President of the ntcd States OF IN the
offices both OF President md Vice President, approved
March first one thousand hundred and niGetytwo.
Be enacted by the Senate AID House II Representatives.
me United States 81 .imcricG Congress assembled.
That the ot choosing the electors OF President aud ice
President the United States each State, shall be the Tues
day after the m Monday OF November asd after
wards except when special election shall he held
ance the tenth OF the which tbs amend
mcnt the of choosing SAID electors shall he the Tuesday
next after the Monday of November every fourth
succeeding the las, election Of said electors aud when such
special election shall be held the therefor shall be The
Tuesday next the first Monday November the year
when the same shalt be held pursuant the aforesaid
The NeVv-Jerscy state Convention.
TRENTON, Tuesday May 81
The Convention was opened with prayer by Rev.
Mr.. YoUSG.
Justice HORSEPOWER rose and made some very
severe remarks regarding caricaure report of his
speech which had appeared in the Newark Morning
Post the Editor OF which paper had been furnished
with seat within the Bar, entirely as matter of
courtesy, and who should be the last to thus abuse