New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-01-07
d -. Sc I'D. 459 Is


=
The statements from the canal department from which
the foregoing results In relation the canal fund md its
revenues d.ducCd, made in conformity with the
express provisions OF the OF 1872 which requires
that, part the annual expenditures from these
revenues shall be given the 100000 directed by the act
OF Roth ot May si TO be pnd yearly 70 IN. general
fund 1t will be hereafter that this WAS not, for
the last h'e"i yea" pcd 10 The general fund.- but was ap
piled by the commissioners OF ri4u Oana fund to the
Jemptiou OF canal stocks falling due. and for Ie.
demp;ion OF which sufficient means without the portion
OF those revenues. were provided. The reimburse
OF this 100000 10 the general fund. when there
shall be paramount claims upon the canal revenues 10
prevent IT, will leave the canal they
above presented and the only effect will have been that
the canal fund will have deferred debt TO the general
treasury rather than 10 the public creditor.
The condition Of the General Fund is very different
from that oil the Canal Fund Just presented Its deots
large entirely beyond the power OF It's revenues and Is
annually ausmenng lts revenues. now greatly une-
quail TO the current charges upon the fund separate from
uGy payment upon the principal OF the debt are 70 %
materially diminished, during the present year, un!ess
the Legislature interpose ana provide new aouceS o.
income.
Tho debt charged upon the fund was the close Of
tle ia,t hscal year. 30 ce'oi' %
This debt, at the close of the tsca! year ieii, .
was ACKNOWLEDGEMENTS 5.o3i1ui oo
Showing increase. within the year end ------
ing 3Oih Sept last Of Observation-Disclosures c25l Oil 20
statement of the liabilities OF this fund Tor the year,
and OF It's means TO meet them shows deficiency Of
those means the 30h Of September last after apply
ing the whole balance of money then remaining in mo
treasury oi slOlJl ~. That amount has been borrow
ed from. aiia j. due to the other public fund
The productive capita! Of this fund 10 literally nothing
It's richest source OF revenue for the last year has been
the miltax the whole OF which, by provision IN the
financial act Of lef2 appropriated to this fund the
Canal revenues having reached the point Tor tine yea,
s4 when the half OF the tax appropriated to That luna
to unless already assessed for another year
IN which case the whole tax for such year was 10 10
paid to the general fund, and after that lime the hall was
10 be no longer levied. The contingency happened dur
Ing the last fiscal year and therefore, the general iunu
received the whole but for the future only the one
hall .! the mill tax imposed by that law 10 be collected
he remaining prncpa! source Of revenue Is the S2VN
COO per annum directed by the Act to regulate the &C
counts between certain funds belonging this State 10
10 be- paid from the Canal fund for the oil the general
fund This amount mas been paid for the last fscsi
year for the assigned when speaking Of the Canal
which has increased 20 that extent the den
cheney the Of the general fund.- for the ias5
year.
can add nothing 10 the Recommendations urged in
my former annual message, that provision be made 20
strengthen the OF this fund and arrest the
rapid increase of Us debt The ordinary expenses OF the
Government now annually met By loans and money
s in effect ii not in fact borrowed in each subsequent
year pay the interest upon the debt which the necess
tes OF the previous year accumulated Ia my Judgment
neither the interest nor Inc Will OF constituents "a 90
served ia the pursuiL ola policy so runOu-.
IN addtioE 10 tho amount Of debt actually charged
upon ni, fund II contingsny liable 10 the amount Of
- JtUU w. tor loans q! the credit OF the state 10 Cansi
aud railroad Companies which yet continue 10 pay me
interest and II - hoped vii! eStngulsh the principal
also OF the loans they shall become payable and save
the state entirely harmless large portion OF the loan
u The Delaware aud Hudson Cana Company when
was made upon credit Of twenty years TO fall due On
the lst day of January los This sock by its terms
IS payable At pleasure OF the STATE At any time alter
the year l57 1t Is the settled policy Of the stale
not 10 defer. beyozd the day the redemption Of stocAs
Issued tor Its benefit IL ID presumed us pleasure
VIII be tEat the stocks IL has !oaled snail be redeemed
oy tee same rule payment at the day. Inc stCcAS
loaned to this company were issued BY the Comptfoe
and Zoe original certificates .gned b. him; but taey are
transferable a. the Office Of the company aud the new
ce!cae4 are signed By its and cous1eTssneo
~ tue officer appointed ia the city OF Ne".ictA'
transfer o;Ger stocks OF the STATE. The transfer oooH'
are xept at The Office of the company the .s OF st0cA
holders are only be found there, and there me pay
inents OF Interest are maze.
II Ia IN portant that notice should be seasonsoygye1
10 the holders OF hese stocks that they VIII be pad q
the first day Of January leis and that such the Ps
the state. Il - not believed that any officer ot
STATE is authorized 10 give this notice. and wnoc
the ist OF the holders OF the stock officer has il Q,
power givei IT, recommend that provision be nees
oy law this case and also reach all the soeo
loaned BY the STATE Canal and Railroad Companle-
TIE productive capital OF tne Common School FInc
at the c!ose Of the 5'ca! year - ego Sa:,5
- Inc close OF 1874 hat capita! was.----. ls92'-'
Shown, ;,.,...s .,i,,io,,.,.,, v..r Of sg77lSa
Inc uIprotuctye part OF the capita! OF The fune
about $4,000 acres o; unsold land situate IN Tie W.
err part OF the State, ana valued a. sl75co n
The receipts into the Treasury, during the yea "a
regeue from this capital were sl1'''
ADD The appropriation OF revenue from the 90, oonm
|. :. Deposit Fund NEUTRALITY-SUSPICIOUS. 4s'
and 9as the 2s.s sn a revenues OF the Fund iof E
a, the close of the fiscal year ending 3oh
September. ISL. ;nere remaining II
the I5essafy balance CT the revenues s3Mss
No. =. 49,, - .soo rs.,. s557s7!a
I The entire payments from these neans du' oaos,qT
ing the same year, were...........-.---.
Leaving IN The Treasury on The soh 10 OF 1881
The distribution 70 be made annually 70 INC iva