New-York daily tribune., 1844-02-09
The Finances of New-york,


| Mes5rs. Greeley &. McEhath:
GENTLEMEN-in looking Just now into your
Wing Almanac, which often have occasion to
do, noticed for the first time the great injustice
you have unwittingly done the State of New.
York in your table showing the debts and annual
revenue Of tho several States, prepared express
ly for the Wing Almanac
In this table you state the debt Of New-Y ork
at S25, 1866 and the annual revenue at s572,.
9l7, which would seem to show US an insolvent
State-the annual revenue" being stated at an
amount not equal to one half the interest on the
debt.
There are material errors in stating both the
debt and the revenue which in Justice to our
financial condition and credit, ought to be correct
cd. The aggregate amount of the debt of the
State, including not only the proper debt Of the
State but all the defaultng railroads, and the
Erie and Champlain Canal debt (for which funds
are provided and set apart,) and the debt which
the General Fund owes to the specific funds, is
stated by the Comptroller in his last nualreport
S34 I06
Deduct available means on hand.... 1,9S3.l30
Balance Of debt. 1923, ,65l ,575
The total revenue from all sources, for the last
fiscal year the Comptroller states to be 81 992 S25,
instead of the 1872, ,9l7 as stated in your table.
The surplus nett revenue, after paying the IN.
tereSt on the achole DEBT, the repairs and all er-
penses on over 100 miles Of canals, and GL the
ordtn0ryon special charges for the support Of
the State Government, exceeds half a million of
dollars and ifyou had stated your S572, ,9l1 as the
nett revenue, you would have been much nearer
the mark.
You make cur revenue less than Pennsylvania
or Virginia, whereas it exceeds either Of them by
more than two millions OF dollars!
There are other errors of broader character,
appertaining to financial policy, for which you are
not at all responsible, but which pcryade the pub
lie mind, and in relation to which PROPOSE upon
some future occasion, when think may hope
for patient hearing, to address in some form the
ax-paycrs of the State.
Would the taxpayers of your enlightened city
be willing to be convinced that they might and
ought to herelicved from their annual contribution
Of 1927 ,606 for their proportion OF the mll-tax
The Comptroller seems to suppose that this tax
is to be continued upto 1850, by which time their
tax for your city and the legal interest would
amount to 81 ,969, ,04l. Would they be willing
to have it demonstrated that the Canal revenues
will be abundantly sufficient to pay the whole
debt Of the State without taxalon and that If the
State will have the patience to wait, the whole
debt will be paid by those navigating the canals,
and much the greater proportion Of 1t by the cit
isenS of other States, long before the money will
be wanted by the stockholders and before the
principal part of it falls due? Whatever the
views of the taxpayers of your city may be the
day will come when the tax payers OF the State
at large will at least have hearing upon thus sub
ject.
1t" ss"' 'ea''' ''''' JOHN A. COLLIER.
II The annual Revenue of the State OF New
York, as given in the Whig Almanac, IS intend
ed to express that portion of the Revenue which
is collected for the purposes Of the State Govern
mcnt, and of course does not include the Canal
Revenues nor the Mill Tax. We followed Comp
troer Flagg in making it, and he always makes
the Financial condition of our State as black as
nossibe. We shall correct the statement IN the
Almanac for future editions. Ed. Irl6.
NAVY PRemoT1oys.-The following promotions
have been made in the Navy, by ana win the ad'ice
! and consent of the Senate:
William B. Shubnck, captain IN the Navy 70 De chiel Oi
,he bureau OF PROVISIONS aud clothing: -,
ab1,Sam S Ten Eyck now commander, 10 bea captain
in the Navy lror, the iOh of December. l643 o.., :,
Inn Po TO be commander in the Navy from The 2ih OF
LEVIN M Powell 10 be commander In the Navy from the
z' hass WiEss to be commander il the Navy from the
i'i Elisha 81 PEEK to be commander the Navy from the tn
TSoms j. Meaning row Lieutenant, TO be commander
| in the Navy. rom the 2lth Of July, lSt3 ,,.... =
William psaT;2n son @ now "a sais4aat 1872 80 pc
Joseph H. Adams 10 bea Lieutenant III he 0n
William A. PaikeI be lieutenant in the Navy from the
jane, B. johpson be lieutenant in the Navy s
iabp Natf 10 be lieutenant IN the Navy, from the 2
o wilmington Gwathrey William RonckendoEt Imam
B. Beverly, and Jonn hail. TO be leu'enan's IN INC
F4.Hes oTty 10 BE- lieutenant in Navy on the sh
iiiam E LIE Roy TO be lieutenant IN the Navy i'oa
'n MTwe t2 oodba TO be lieutenant IN the Navy from
,he rth Of july, l8i3. ,.,,;,, - he 2
lieutenant In the Navy from the 9th OF July. 1913
l. f4yete Maynad now passed midshPman: 10 De is0
Tenant the Nay from the 9h OF 0fS0e g, 2o be lieu
tenant IN the Navy, from the 26th OF DC ls5 - :.
George Coiyoco!essis, now Eass-a Is,s
Wasbsnetsn RiJ POW rsssed n.dshiInan, 70 DE- Leu
-snanr n Jh- Navy from ,e 10 OF December. lSi3
;e5ai @ the SS from iSe s:
William Worhin2t ton hqssr 20 g a :, ,co,ia iie"s-
ia the Marine Corps i'0'H Inc n q AS Il 5Nadsonsn.
- TO MONTH Ca l. IA. W
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South East COZ sota5F s o. ii aiGahsSoE% No 10 River
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