New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-08-01
NETWORK TRIBUNE.
NEW.yoRK CONSTITUTIONAL CONVENTION
NINTH WEER-XLIXTH DAY.

FdlueO-CIIT ASScSSilISHtS-cPrtloiN
City Debts--Canal nargement-0rganizalio
d ihe Legislature-Rjde and Tye-Monsttr Dis
tricts-Slaten Island moved agaln-DlvIsoa
of New. York. Chenango, Delaware, &c.-Airl-
can Suffrage, &c--hllens, &c-"yohiine -.
Genesee-A Storm.
ALBANY Thursday, July 30 1896
To Tie Editor Of The Tribune:
SIR: The two Reports, from Mr.. HOFFMAN, Of
: Standing Committee No. 3, on Canals, Inter
improvements, Public Revenues and Property,
jebt and Taxation. were presented this morning,
a%ifse.
They are as follows:
eherepue Delft, Expenditures Canals &c.
Proposed s1s part Of the Amended Constitutional
ARTICLE =
On The ezisting Debts and Liabilities Of Tie STATE aud to
py0riie far the payment thereof
!. After paying the expenses Of collection. superin
tendcncc and ordinary repairs million and five hun
bred thousand dollars (s5000D OF the Of the
State Canals SHALL in each fiscal year. md at thu for
shorter period commencing ON the first day OF June
1886 be apart sinking fund pay the interest
and redeem the principal OF that part OF the state Debt
called the Canal Debt existed the time aforesaid
and including three hundred thousand dollars then 10 be
borrowed until the same shall be wholly paid and the
principal and income OF the said sinking fund shall be
sacredy applied 10 that purpose.
In liquidation OF the state claims FOR advances 10,
and payments for, the Canals six hundred and seventy
two thousand and five hundred dollars (S6125D) OF the
revenue said Canals shall forever in each fiscal year,
and at that -horter period commencing the
first day of June 1916 be pad into the Treasury for the
OF the State and II the payment OF that sum or any
part thereof shall he delayed by of the priority
established in the preceding section the amount so de-
laycd with quarterly interest thereon the then
rate shall bc paid of the said revenues
can be done consistently with such priority.
So The surplus OF the revenues oil the canals, after
paying the sad expenses oil the canals and the APP
propratcd by the preceding sections shall in each
hsrp1 y,nrl p g1 n Inc
Canul in such may be directed by law, until
such surplus shall amount in the aggregate 10 the sum
of millions and i've hundred thousand dollars
I. OF the Of six hundred and scvcnty.two thou
sand and five hundred dollars required by the second
section OF this article 10 be paid into the Treasury i've
hundred thousand dollars (S50O.OOO) shall in each fiscal
year and ut that for shorter period commencing
the first day OF June. 1916 be set apart sinking
fund to pay the interest and redeem the principal OF
that psu OF the Suite Debt called the General Fund
Debit including the debt for lonns OF the Stale credit TO
Railroad Companies which have failed 10 pay the in
tcrest thereon, Hnd also the contingent debit State
stocks loaned Incorporated companies which have
hturto paid the interest thereon whenever and Tar
part thereof may become charge the 1reHsu
~ General Fund until the shall be wholly paid
d l,c principal and income OF the said last mentioned
Rinkms fund shall he sacredly applied the purpose
aforesaid and il The payment OF any part OF the said
five hundred thousand dollars shall my time lie de
ccd by OF the priority recognized IN the second
of this article the sum deferred with quar-
terly thereon the then current rntc, shall be-
paid TO the last mentioned sinking fund as soon Rs the
sum 70 deferred shall be received into the Treasury.
) = The claims q! the stale against Incorporated
Company 10 pay the interest and redeem the principal of
the stock OF the State oaned advanced 10 such Corr
pany shal be fairly and daily enforced and not dcfcf
red released compromised and the moneys arising
from such claims shall be apart and applied part
OF the sinking fund provided IL the fourth section o, this
article.
So If the sinking fund or either of them provided in
this article, shall prove insufficient enable the State
the credit OF such fund procure the satisfy
the claims Of the creditors of the State they become
payable the Legislature shall by equitable
fnp roy, n Snll Ms a
respectively sufficient perfectly 10 preserve the public
faith Every contribution advance 10 the canals or
their drhs any other than their direct
nues with quarterly interest AT the rates then cur
rent paid INTO the Treasury Tor the use OF the
State II the canal revenues, as soon rs can be done
consistency with the Just rights OF the creditors holding
the sald canal debt
81 The Legislature shall not sell lease or otherwise
dispose any OF the canals OF this STATE so tar ~ The
same a.c now finished aud pavguble but they shall re-
man the property OF the STATE and under ITS manage
mcnt forever. By order OF the Committee
MICHAEL. HOFFMAN Chairman
ARTICLE -.
On Tie poer 10 create ur STATE Dsbts ard La5eS and
restraint thtre9i.
81 No money shall ever be paid out of the Treasury
of this State amy OF its funds amy OF the funds UNI
der It's management except in pursuance OF an appro-
priaton by law, nor unless such payment be made within
Two Years after the passage " such appropriation
vt, and every such law making new appropriation or
continuing or reNivne an appropriation shall distinctly
specify the sum appropriated the object 10 which II
10 oe applied and tshal not be sufficient for such law
torc,er TO any other law to fix such sum,
~ The credit OF the State shall any
be gave loaned TO- aid any individual asso.
citation incorporation.
So The State may to meet casual deficits or failures
in for expenses not provided FOR contract
debts but such debts direct or contingent slpsly in
the aggregate shall not at any time, exceed one million
-; dollars, and the moneys arising from the loans
spns such debts shall be applied the purpose Tor which
tey wccc obtained 10 pay the debt 50 contracted and
u no other purpose whatever.
4. In addition the above limited powers 10 contract
Dali N ,1,.,t.-
press instruction or defend the State IN war but The
MONEY ARISING the contracting OF such debts shah Dc
applied TO the purpose tor which raised 70
pay such debts. and 10 10 other purpose whatever.
! kNoept the debts specified III the third and fourth
OF this article debt or liability shall be here
after contracted behalf OF ,hs STATE unless such
debt shall be authorized by law some SINGLE work
object 10 b. distinctly specified therein such
shall impose ANA prorc ior the collection of direct
annual rlx pay. and sufficient pay the interest on
such debt it iaus due and also pay ana discharge
the principal such deb, Within eighteen years fro,. he
time the contracting thereof! No such law shall take
eject until 1t shalt al general election have been sub
United TO the people ami have received majority AL
the votes cast against IT. at such election On the
final passage OF such bill N either House OF the Lesisis-
ture the question shall be taken BY and noes 20 DC
duly entered the journals thereof. and shall be
small this Dill pass, ana ought the same to receive the
sanction OF the people The Legislature may al any
time after the approval Of such law By the people no
debt shall have been contracted Inability incurred III
pursuance thereof repeal the law and may 81 any cne
by law forbid the contracting o. any farther uco OF ia
biFy under sach law hu. the tsN imposed by such act
In proportion the debt and liability which may have
been contracted pursuance OF such law shall remain IN
force and be ropeaSbe and be annually collected una
the proceeds thereof shall have made the provision here
tocre specified To pay and discharge the interest and
principal OF such deb, and liability.
The money arising from any loan stock-creacns
deb, Liability shall DC applied TO tie work object
sp cihed the authorizing such debt Liability or
Tor the repayment OF such debt liability and for no
Other purpose whatever.
No such law shall De submitted 20 be acted with
IN three months after its passage or a. any general
election when any other law ANY bill or any amend
feri OF the Constitution shall be submitted TO be voted
foE or against
u Every law which imposes, continues or revives
IL shall distinctly state the and the object 10 which
20 be applied and il shall no, be suficen, refer to
other law TO fix such tax or object
" On the ona passage, in either House of the Legs
N~Se OF every act which imposes. continues REEVES
sssS makes continues or rcvives any appropriation
pubic or trust money or property-or releases, dis