New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-01-07

L
have lourec 40 the TreasurF
EL-n -lt, state Z rro--ess shan nave ofe-
rearrec 0-- state H1l present 'P'''e~-7
parallel l. W. open neS era u 'He h-s'.ff ID
state Ile -ala-s % oerQnl-- W. --l.l. 'i''l 90
property o. The rcn--s1-e sth VII t-r. g. estate
o. vsst and inrsl-1lst.e vsl7e Oar people WI
have secured - themselves peTpetca! eA
! e-np.l0u fru .rxat.sa ir c-ate purposes me
revenues @; The canals WI t1-In a. a--le iaa-
0- the eruut-. ID. Government, az 9. a = i-ei "a,
c0.ae g1es;l1r - no~ money sna.. oe lt,e-
But o. .s.- -ss -,---ose shsl. j; he applied Arier
red1cla- the tots g. rates almost no1i-ls ~ e.. n
pared .-l ,lo>e Dav ---orred. ne. Va s1e.- 4
pl4lt-1' slrp.1s aDd place n 'ne o4'lss- W '"-
/ Le---I--r-s rf.rrfe.- means p 7-rar-n -cN
Worss ai Dene-.c-nee g. atva-re eGlra'ion o' en-
I I1vlie-.ts SID move ample. 70 ei4','I'-r -ii''e
genus IN tic higher walls % i'esalL4re ADJ a..'
accomplish - . ~cre. "i'iil.. a-- el'''. 50 '-
/ de--as.o-. p -he elevation srd happiness Of m'f
! KIND
1 When w. consider tie effects Of oGr canal a.l..y
-n - ,aa--aro ruan the general prsqe-t! o- ne
oerol.. ..v r-...-t in dfaslug wealth. AM comfort
bv cheap interchange Of the protlcts n sniast-
N eahan~inr the value ~ property and ine Fe"sn's
Of .aDor. the happy results 4" me system are sun
/ more satlsiscto-y.
fti. ia MI, connection that the .aicrn canals a.
/ sulne their -r1e character cld ImTorance y
/ t~easur,. lrvestr,.1- single channel from The hlf
sol a. the axes would have been more rnduciifc
bat 70 have refused similar facilities % other po-
| to-s ot the state. would have been more proil'
tive bu-t7 have r,.rsed similar i1ri..'ics - oiatT
ro-f1ns af 'hs state w01i have been an entire lis
l.-ari o' The equal r-h.s 81 iar-e trlN q our
citizens. whom slrh a pol.cr m1si have exc.lir q
| rum ren.eat across 20 markets. j. colIr--i.E
I hs-ot-s mon he PEOPLE revclus Is uo' 'he '4f
/ oi-,c- AID msi government VII aim '0 give io
I q - citizens a .aiT participation
The .rreased wealth of t.o people Cd. fGs -is''
iurs p, he rpn,.rlrfiu4 oi thc canals. raii. g
| be- estimated with accuracy The aggregate ft.-
sfioa Cd real anil personal estate '1 the year So
AS s65ltl9:9l
Wreu W. reflect upou toe standard Of Fa.la ..o1
adopted hf TIE assessors j. is obvious 'Aai t, ''
.1-l j. "a below DE zeal value T. e coacclv"t 20
be q safe estimate 10 assume that 'hr canals have
doubled The aggregate value % 10 proper oi me
people 1. t.c state. and ot Is annual product.
The commercial t..iit.cs whila they af0rt l'N
ri.cu birth % towns ani cities have more 'h-1
doubled the population oi entire sections the.
have given larre ant increasing valve - 500.
HHirh wou.8 as.e leca Ilo,-Ip!ed Df nave li,.;e4
tta coarse subsistence ba- Tor the al! ot s-ii1i,
transit. al3 ia a variety ri WAYS have mlIilPi"i
cmpoy-nca'. end profits
large shafe o: ihs C1as. revenues = n'lf nF ine
people ot c.her states - whom Quar- canals sr
t.4 cheapest a.i cafes, mode q. r'uncr-ls. s. 81 :
=. ia 80. ioarl Noris a1y injustice .ll'r''l lf-a
orr western rcchho-s hv the imposition I'D. ol
their produce and merchandise Ga tie go,ireT1,
we have conferred ou them aool. oni. s.'o.d %
value to tha benefits euIoyed py 9W own c.'izeus
The sol ru-fir- ~ Tho Enc Canal has al. a. % 2.
millions groba,y twenty times re entire cost .o
the value "a H. snis ami productions NJ ire Hour
is.bc States wneb ior.rr on the western axes
T. is source q satisfaction 20 reflect That p po
'icv winch has produced such beneficial results D.
bone has ~ the same time earned population and
wealth. anal impaired prosperity COB the i'rtl.e re-
gions beyond Us
TO the sgcce--ful accomplishment OF ala c4.i-h'
ened system o Interls. Improvements We may at
tribute. ID larce degree cur commercial suprcmn-
-y and the commanding position u the state On rs
relations 20 Other states sud 10 the coi1ederacv u
hss brought within orr borders an amount o. COM
aie-ce. which almost battles computation Il is the
reciprocal commerce Of tree states, which. wale
mutually beneficial. each concerning aud receiving
blessings and Promoting the welfare OF AL ADDS
new strength t0 those political res Thich bud
separate communities together IN harmonious and
perpetual uliou
TIIE ,TATE DEBI ASn IHE ,INNiNe tt>ps
The Controller then TAKES up 'ne muchmootea
subject Of The application OF the Canal revenues
under the New Constitution aud The loans contract
Ell By authority OF the Legislature IN order 10 meet
certain deficiencies He says
In order to meet portions Of the oil debt coming
due IN advance Of the contributions to the sinking
Funds the Legislature have found II necessary 10
authorize. and the financIal officers oi the state
hsve contracted several new ioans ON tho crsdi OF
the sinking Funds Two loans OF this character
were made Do lsis one ior ss2j.00o. 10 meet lor.
ton OF The Canal deb, which tel due oa the hrst
day Of TuIy a that wear and oae .or sf-9.-iy 81
'o repay The amount advanced from that portion ~
he Canal revenues belonging 10 the Canal Compile
ton l md, 10 pay portion Of Tire debt winch De-
came due ou the first day Of July. lsis
During the last fiscal year three additional loans
have been made un the credit of to- SINKING
Funds n pursuance Of the iiith section OF the man
cal article o. The first day OF july l-iy There
was dn, 'pr principal 81 the canal debt the sum o
~ 1872 400. inculing s206" 800. OF seven per cent
,to,k issued Ia lsi2 This large amount exceeded
the mcans ia tie Canal sinking Fund sl759 os4
Co. To provide FOR the deiicIenc,. tho CommissiJl
ers oi he Canal Fund made 3 oauoi that amount ou
The 81. o June las b., issuing s.X per cont s'orS
rcdeemabc l l-d3. ia pursuance 81 cnapter 2lo
Laws oi l-+s The arce premiums given io me
state bv tie s1ccessiu. competitors Tor 'h' 'oan
amounting 10 s215 95f o6. or about u s'-lo0 per
cent affords gratifying evidence Of The financial
prosperity II the country, AID 81 The universal con
aeucc rcpos cd IN the pubic faith ami cret %. The
state
By the net OF Apnl :. lsi9 chapter 2Je, The
Commissioners OF the Canal Fund are suthonzed
20 hurruw on the credit Of the Cana Sinking Fund
such sum not exceeding 5000 600 may be su.h
ciont to supply any deficiencies iu the san Smkn-
Fund D. uay the ays an.s Of the Cana. Appraisers
,nd the Canal Board and The allowances hy tie
Genial Commissioners. aui the Commissioners o.
iha Canal ud made iu Pursuance ~ law, Tor
damages or other claims. accuuc prior to Jane D.
$50. ll nursualco Of this ACT ibc Commissioner,
81 The Can4l Fund. fAa 3oth ct MAJ last tor
-oved 600 0Jo. ou a SIX per &C. stock. pas able
in I,64. which was negotiated az premium Of
$500 Co.
Tins loan ld 1ot increase The public debit but
smpl, provided th' means for paying certain
CLAIMS 90, and damages ald worA. wilch the
Controller argues the COM en'.on regarded part
~ the debt EXISTING june lstt aud fh.. position
Zee sasisi1s b. reference o. NJ Controller F.a-r
and POS concls - genera. considerations ipr winch
we have ut now tn space H. then continue.
IN usir susnce oi tlis acI That II April s. 80.
.ad 2 The time ieElsnated b. % The CoDtroier =
sued his bond, Tor So e,o which constituted g.
par; oi Zoe present General Fun. delft ard create
1r apparent .ncres - NJ that debt compared wit
.e .taiclne.i heretofore furnished from this office
in fhe annual EXHIBIT Of the state debt But
tested hv the financial pro lsoas oi The iausftl
ton tins apparent increase OF the debt : conceived
to be rather nominal than real The law directing
the stock ro b. issued. proceeds uiou the -~ofin.