The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-04
BY PEDAL ExPR e g s
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STATE OF NEW YORK, }
CoMPTRoLLER's OFFICE,
Alhanv Dan Al 1Ad7

CoMPTRoLLER's OFFICE,
Albany, Dec. 81, lo47.
The first section Of the Sd article of Chapter g. first
part Of the Revised Statutes declares that 1t shall DO
the duty OF the Comptroller to exhibit to the Legisla
ture at its annual meeting complete statement OF the
funds Of the State its revenues and OF the public
expenditures during the preceding year, with detailed
ssmate OF the expenditures to be betrayed from the
treasury for the ensuing yea. specifying therein each
provided for by permanent or temporary appr0-
pr.tons and such require to be provided for by law
to be betrayed" Also, to suggest plans TOR the
improvement and management Of the public revenues"
The following are the psi0cps ,n the
CT the government are charged 49,
,. The Common School Fund, the revenues Of which
are annually distributed to the common schools
The Literature Fund the annual revenues Of which
are principally paid to academies
4. Funds Of the several canas ten in number.
8. The United states Deposts Fund The principal
Of this fund ga $40 ~ wa: deposited BY the go
Of the United States IN the state
The arising from this fund belongs to the State
and 10 annually distributed for the use OF colleges acs
DENIES schools, normal school, medical schools
Indian schools and schools for the special education Of
eolored children and the sum of S2S 600 s annually
taken from the of this fund and added to the
capt. Al of the Common SCHOOL Fund provided by the
9th article Of the Constitution.
There other funds held by the State In trust for
certain specific objects. These are,
l. The Bank Fund, made up by contributions from
the incorporated Safety Fund Banks
Securities deposited with the Comptr Her. for the
redemption of the circulating notes Of the Free Banks
This fund amounts to than eleven millions Of dol
lars.
h 8 The Mariners Fund. This fund arises from the
surplus fund paid into the Treasury from the tax
passep gers arriving at the port Of New York:
4. The Sinking Fund Of the Auburn aud Rochester
s. The Sinking Fund Of the Ton.wanda Railroad Co.
g. The Sinking Fund Of the Hudson and Berkshire
T. The sinking Fund Of the Tiosa Coal, I.on Mining
g. The Sinking Fund Of the Long Island Railroad Co.
All expenditures for the support Of the government
such as the Of the Lssssture Of the State
of the Judges Of the courts charged what
10 denomnsted the General Fund This fund, In 1914,
besides the annual derived from auction and
bonds and mortgages, and other securities yielding
revenue, Of $4,396 943 81. million and half
.st of thai to sa 1915
1896 the Treasury aided by direct tax amount
ing in the aggregate to $3.e69la6 But from 1917 to
1896 the General Fund deprived of the revenues
arising from auction and salt duties which revenues
for shout eighteen years. were yielded up to the Ere
the Canal Fund. Large sums we're transferred from
the General Fund capital In 1897 to the capitals OF the
Common School and Litsrature Funds, and In 1882 an
securities belonging to the General Fund and the use OF
the proceeds the support the government In this
way, the entire capita Of the General Fund was ex-
hausted in 1884 its reduced to few
items of revenue, not exceeding in the
aggregate sixty thousand DC. dollars PET
1885 the auction and salt duties, were
restored to the General Fund.- and in the same year
L
paying $500 900 annually to the Treasury out Of he
CsnaFund, soon means were provided for the
payment of the original canal debt, which accom-
plished in July, 1886
uus revenue OF about 00O but the deficiencies in
the revenues of the lateral canals were at that time
charged upon that fund and these payments with the
addition of $3665700 cast upon the Treasury by the
failure Of railroad corporations to which loans OF
Stats stock had been made have not only consumed all
the resources Of the General Fund.- including the pro-
cseds Of state tax since 1912 of nearly two millions OF
dollars but have LEFT 1t with debt OF $6l39 $40 - the
interest Of which nearly equal to the whole amount OF
the Sinking Fund provided by the consttuton for the
payment OF this debt.
The total sum charged the General Fund and paid
from the Treasury including the payment OF interest
and principal the debt for the fiscal year ending
the 30th September last, is. 81 1881 80
Total amount Of receipts into the Treasury
for the time, ON account of the Gen.
eral Fund.- Qncluding the Sinking Fund
OF S360, OOO) ............ l,lU,3o3 vi
Excess of expenditures beyond receipts. S739 40
That portion Of the Sinking Fund which received
in Bank Fund stock (Sll6 666 66 being for etbrd
of the fiscal year ending the 30th September lS46
Is not included In the preceding statement This sum-
although 1t the product Of the Sinking Fund for the
third Of year. from the let OF june to the 80 Of Sep
ember 1876 been received within the last year. and
Ia hand applicable to the payment Of the debt.
The interest the debt for the third Of year. ending
the 30th September, 1916, paid from other
venues than those derived from the Sinking Fund
The items of receipts and expenditures for tho sca
year. given in statements Nos and g. appended to
this report.
FUNDS DEVOTED
The capitals Of the Common School, Literature, and
the United States Deposte Funds consist o. bonds and
mortgages State stock bank stock and money in tbs
Treasury which six per cent interest Ia paid, the
items Of which given In another part of this report
The amount Of capital and annual revenue Of the
vera funds appropriated to the purposes Of education,