New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-04-02

Total debt principal and interest lqu s17 463 400 81
dated Jan. ], 1865.
The new Constitution appropriates to the ca
nal Sinking Fund 100000 annually for nine
years, commencing on the first day Of June, 1876,
and ending June ], 1855 and from that time the
sum of sl,7OO.OOO in each fiscal year, TO redeem
the Canal debt as it existed the LIST Of June 1886
and including $500, 900 then to be borrowed.
The sum Of 81 100000 for nine years is ZOO 900
The sum of $l,7O00OO for nine years there
aiter, is...-.. -.------.............s l0'5VOVVO
Total for Is years 81 100000
The new Constitution also provides that the sum
of $3.50 600 out of the surplus Canal revenues,
shall be appropriated and set apart as sinking
fund to pay the interest and redeem the principal
of that part of the State debt called the General
Fund Debt 100000 are also annually to be ap-
propriated from the surplus Canal revenues toward
defraying the expenses of the State Government.
The following is an estimate Of the revenue and
expenditures for the current year made out by the
Commissioners in conformity to section article T.,
of the Constitution, viz
REVENUE.
From Canal tolls, including those paid by
Railroads. .S2oOOOOO
From rents of surplus water ............. I5O0
From interest on deposits OF tolls in banks. 10000
Total --...--:.-.:. e2'cll,0VO
Expenses of superintendent, collection and
ordinary repairs ----..------'-.--..-.. oOO,OOO
Revenue after deducting cost ofrepairs. 500
From which deduct
l. For Canal Sinking Fund. ...--.sl 100000
g For Treasury Sinking Fund.- 51O'VOO ..oooo
3 For support of Government 2OOOoO-SlsS1OOO
Fstmated surnlus S36l ,5OO
During the last fiscal year there has been can
celed OF the
Erie and Champlsin Canal Stock. sss,22l 50
On account of the Oswego Canal. 3s7,2f5 As
On account of the Cayuga and Seneca Canal 10000 90
On account of the Chenango Canal. $1,000. .233o3lO 90
Total ACKNOWLEDGEMENTS o.
The balance of the Canal Fund in the hands oil
the Commissioners, on the 3Oth September. 1916,
was ss3s, 1862 81, viz
Amount deposited in banks available OsS9 -
Do. do in banks unavailable. 263O9i 81
Total deposited ACKNOWLEDGEMENTS. 4939la ~
Iarested.-Loaned 10 the City OF
Albany at per Ct. $4,000 10
do In Bank Fund Stocks at -
6per cept..........3l444s O2-34444s n
Total amount deposited and invested. .ss3s5e2 81
The total amount of Canal revenue deposited In
banks from s2i to 1876 inclusive is s42,65l ,45s 20
The amount of interest realized to the fund from
these deposits in banks, including interest on In
vestments of portion Of the surplus in stocks is
s2,376, O66 76.
The system adopted by the new Constitution OF
applying the principal portion oithe Canal revenues
to the payment of the debt connected with the fact
that the principal Of the debt will fall due SO as to
absorb the revenues as fast as they accumulate
will deprive the banks Of an average deposit OF
nearly two millions Of dollars, which they have mad
the use of for the last twenty years, At the close
of the wear 1885 the deposits belonging to the Canal
Fund in 81 banks amounted to si,5OO,oOO.
The amount of tolls received on the Canals from
their commencement up TO 30th Septe mber' 1876
was s32 427 o22 For the last three fiscal years the
amount of tolls on all the Canals was as follows
.sa3s6g77 "a 1si5.........sa,S74'OO' 50
1876. .S2,7ss,l 8 To-
These amounts fully sustain the calculation OF the
vybig Canal Board in 1870 and the previous Report
of Mr.. S. B. Ruggles, which the present state ON
GERS and other Loco Focos have attempted so often
to ridiculs and decry.
The present Canal Debt has arisen from uncon-
Melted works, viz: The Erie Canal Enlargement
the Genesee Valley and the Black River Canals.
Thus. the amount paid for construction and In
terest on the account Of the Ere Canal EniSFSe-
ment has been as follows
p.,d for contradiction. sl29s9,s5l 20
Il ss ~, ~, ;o,o,ast ......... 320ie67 ~
IT,, .si6ls4,7 I9 IS
Cos, of Genesee Valley Canal. 1850 -
Cost of Black River Cansl.-------.--. leIo,ls9 81
ACKNOWLEDGEMENTS l,ISe,e5o %
Exclusive of interest, which would add about
two millions more to the cost Of these two lateral
Canals
To complete the Erie Enlargement and the BLACK
Ri,ar and Genesee Valley Canals, would probably
require an expenditure by the State OF ten or
twelve millions Of dollars but on this subject OF
course we are not favored with the opinions OF the
Commissioners. Probably the people OF the state
NAV at the proper time be disposed to consider the
question.
Row IN FASEun HALL.-The meeting called BY
the Boston Total Abstinence Society last evening We.
If m