New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-01-06

without prejudice other interests reduce the ex
pense Of getting market 10 10 cents and neglects %
do So what answer can IL give 20 the farmer
! do not believe there il any more disposition 10
augment the State Debt nor il II necessary % The CON
pe,ion OF the Csnas ! think hazard nothing IN say
iDc tina, the Canals left TO Themselves would complete
the Canals and psy the Public Debt distant period
and cannot permit myseto doubt that the Lezislsiurei
with the light that the last Of navigation mas shed
upon this matter If the means can be found 10 90 so vi"
provide present session not Tor special or local Out
for general Resumption of the Public Works. Innap-
PLY AZ think the 18th Article Of the Constitution has
thrown obstacles your path. Il cannot be a.
sumed apprehcnd that the adoption Of the Consuiu.
ton contains many, very many wise and enlightened
provisions breathing dstrust Of Representative Govern
ment but this Article not only imposes novel restraints
upon the Legislature but ii denies 20 the whole People
the night TO vote single dollar unless by the same act
tax il imposed pay principal and interest Why TINS
dstrust OF popular feeling, IL there anything IN the
history Of the state that should b-gei this want OF re-
lance on the wisdom and stability OF the People
The entire Debt OF the state both direct and cOnin
gent from information derived from the books Of the
Comptroller amounted at the close OF the last sca year
Ito s3i74O50 90 deducting contingent liabilities u WI
be found be $23O2l 90 % The aggregate OF the
debts contracted account OF All the Canals from IN
formation derived from the source amounted ~
the same time To xITOys 2fO - The first second and
third sections of the 7th article of the Constitution pro
vide that OF the revenues derived from the Canals sitef
paying the expenses of collection qua oil repairs ana su
perntendence there shall annually be ah9
set apart the sum OF One Million and Three hundred
Thousand Dollars to constitute sinking fund Tor the
payment of the Canal Debt until the let day OF June
ISIS and after that time the sum OF sli'OVO unui
the debt shall be paid that there sha be annually ap
noprstod and set apart the Of three hundred and
hy thousand dollars 10 constitute Sinking Fund Tor
the payment of the debt called the General ind Debt
until the Canal Sinking Fund shall amount 30 sum sui
hcient to pay the Canal Debt and after that time the
contributions the Sinking Fluid to pay the General
Fund Debt are to be s500000 annually. In addition to
the required to constitute these two several Sink
ing Funds the Canal revenues are annually to be
taxed such sums not exceeding $4,000 as may be re-
quired to deirsy the necessary expenses
When to the fact that the revenues OF our Ca
nal including interest cash revenues amount for the
year ending Both Sept 1876 TO nearly s2-50OOO with
what entire confidence may We not rely upon the IN
come Of the Canals 10 protect us against Taxation on &C
count Of the present state Debt and for it's ultimate
tnctionl j speak OF the Revenues TO be de
rived from the Canals in their present condition. As
Stunning that the capacity OF the Erie Canal viii not
permit of a material augmentation OF It's business
Secure the trade Of the great opening West by enarng
the Erie Canal and how unimportant Is our present
Indebtedness considered IN connection with the rev
enues that may reasonably be expected The aggregate
amount appropriated TO the two sinking tunds and TO
the expenses of Government annually until 1888 IS
$50 600. but for the constitutional requirements,
would not be wise to postpone the contributions to
these purposes beyond sum sufhcent 10 pay the IN
terest upon the state Debt until the Canals are com
Melted and might not in that case reasonably in
duge the hope that the increasing revenues promised
by. the enlargement would pay our Indebtedness
al an earlier day than Is now expected under
the Limitations and restrsinments OF the Constitution
which has but lust taken effect on the pfopfety Al thi'
time Of amending 1t as to postpone Tor limited uns
the contributions before mentioned do mol intend
to express any opinion Nothing but imperative neces
sty could Justify proceedings TO amend Al this early Pc
Rod beside 1t may well be doubted whether Execu'
tive recommendations amend the Constitution would
at any time be appropriate
The whole amount received from all OF the Canals Tor
the year ending 3Ofh sept last was S~of@if 10 anu -
made up a. follows .,.-,,,, -
Amount received from tolls 20
Rent of surplus water. lUato w
Interest on cash Canal revenues. -..---- 4S5oi 81
IT., s2s422il 10
The surn above mentioned as received from toll EN-
braces Railroad toll amounting TO $2i20l % Out
of the moneys arising from the Canals there
have been paid during the last hsca year iof
interest upon the state debt s91b392 70 OUT OF
the General Fund $1,000 making >l5o95% - iot
collection repairs and superntendsnce and for all other
purposes connected with Canals including the sum oil
Al iOi A. for tolls Refunded s22g,35J o. making The
aggregate $20l5.90l A. and leaving balance oil he
monies arising from the Canals of S'26y3Os o.
The appropriations under the Constitution Tor one
third of year ending Both september last are as o
lows: ..,. -.
To the Canal Sinking Fund Si3,3{J 5
To theGeneral Fund Sinking Fund.-..---- ll6666 90
To expenses Of Government. -.-------. oo.ooo %
Making In the aggregate. soloooo 90
and leaves of the moneys arising from tne CahAls
$20964l ~ This balance is not now in the Treasury
but has been applied since the OF June last 10 the pay
nent Of ABORTION Of the Canal Debt
The receipts from the Canal for the year ending som
Sept may be safely estimated At S2cOOOOO the whole
amount appropriated by the Constitution Is slrSlOV
the whole expenses OF the Canhs MINK can MOI oNoeeu
S6J0O0O, making S25OOOOO.
Upon this estimate there will be surplus the coming
year OF 10000 There has been paid upon the Canal
Debt account of principal and interest since the let
of June last exclusive of moneys paid 10 the General
Fund under the Act OF lsi3 the sum OF sOi22'b 49,
which exceeds the appropriations under the Consitu-
ton of one third OF year ending the SOlh OF sept last
~. 4tAl ~, suf. IA he on
raj Fund under the Act OF j must be regarded as sat
isyng the csm of that Fund ON account oil he
of Government for the one third OF the year ending
, s,, Ia, 30, mentioned s6o 666 ~ cents, maxim
Sfg2226 ~ cents This must be regarded rs dlnih
ishnc hy It's amount the contribution 10 the Naha
sinking Fund for the year ending Both sept next ano
together with the estimated surplus ior the same period
of $500 OOO will amount In the whole 10 s'S%-i ~
cents Assuming the correctness oil my esuins'e M
sum may DO applied the coming year unoci tuo
"a Section of the Seventh Article OF the Consutu'
lion in such moneys as the Legislature may direct
To the completion Of the Enc Canal Enlargement
and the Genesee Valley and Black River Csna- III al
dition 10 the above mentioned as wtnln your con
troll there are funds belonging TO the Government
amounting 10 something than tOoOtO dollars wnic
have been treated in whole or in part as unsvssoe a
large portion of these funds consists oil BANK uhu
AT per cent issued under law OF lei0 these stoc
are based upon the contributions by the Banks 10 me
safety fund and are now held by the compuohef;
these funds can be made available without loss re
spectfally recommend that they be appropnaied 10
cother with the prospective means above mehtoheo u
the resumption OF the unfinished Pubic Works
The average expense OF the collections repairs and su
of all Of the Canals for the last ten years
has exceeded t5Si 900 annually About so9OOOO oil the
moneys referred 10 expended by the supernno
ent of repairs upon the river sections OF the Canals ana
1t believed far exceeds the necessary expense super
intendents are not unireouenty persons who are made
TO believe that 10 retain their places II Is necessary tna
they should make themselves effective a. paTuzans ne
exten, Of their patronage and power depends upon the
amount of expenditure and every breach OF me lanai
adds to the number men 10 be employed and paid
Its believed that this expenditure may be materially
diminished by dividing the Canals into small sections
and contracting with private individuals for repairs and
suptrnendence and rtsin II that most pernicou-
patronage would thus be cut on Contractors would be
Interested to guard agsnst rather than by naitenuon
to promote breaches and tha, wschiulness winch tnei'
pecuniary interest would not fail TO excite and keep
alive would the public against much OF the delay
ths, result from what regarded As accidents
breaches OF the banks OF the Canals Injuries OF TINS De
scripton may sometimes be unavoidable out they VII
rarely occur under the eve OF vicllsnt Contractor
The House Of Assembly the last session passed ou
10 provide for these repairs and uperntendence by con
tracing with the lowest bidder but the bull dd mol pass
the Senate | earnestly but respectfully recommend
this subject 10 your careful consideration
The amount of capital and the annual revenues Oh
the several funds appropriated to the purposes OF bdu
cation NAV be stated as follows The capital OF the
Common School Fund is S2.l33ai3 OF the United
States Deposi,e Fund Is Si0li52O II the Literature
Fund Is S,o5 20 81 whole amount sool3ooO y Ice