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

It's evident. thsl. -Lat the revenues 'o- ne hs-a
year. ending >ep-anber 81. $40 were ls41-'. c-.
- 1'@r- rhe exPenir-res. aui is-rs i~ici- 49,
tar-yl lpon tle tfens-sl Fan i would be oh
-r- 70 d -srll. e., with prec.s on was, potion Of
rs dciccur, accrued before affe- ,1a me sxei
~ .h- constitution .o- tte llsuca. article -s-ils
tn- -hc disposition o: IL canal revenues % rake
cfe--. TO lie extcn; LAT 70 was incurred before
ta- period. 2 0rned par q tl3 then EXISTING Ge5I
o- 49,. TIE >l.S M : I'D was instituted - a1ch
O., the te.rit { any. as was o-,asioued by the ex-
7e.l tires a.tr-tle $; q lie ls4s 01nci a Few
iti. e. be p-ovtai Tor from ocaer sources. IRE
spe--ira & the sinking Fund b. !; NAV be SAFE
81 assgm' u ti- lie principal pi-- not the Whole.
~ tls Democracy mus- have existed a. that psr.4~
IT.. legislative expenses. il.i '.-ec n1.t.ls @: ,lc
interest," ~ tae tscs. ycsr, Ca the Genera. Fund
it- Ina -aen been paid aai - Tar A. a., -escn-es
1 .-c deficient :le payments were made cy The or.
1.rt practice ot using The MONEYS % ilc '-cls ~
5..ou--a- % The >-hoo. F-ac sd other sPec.Ac
sands
LIS a.. mata sPparcn, by ,he s,stemen; Of BAL
aures due from ana % the General Fund Ga tae
51rh rtembe- $40. ss gwen IN the animal report
II -lr Controller q ,hc Legislature 81 $50 i :
there suown Ya-c 32I that ilc balance dae f-uga
tie General fund 90 tie specific funds, was ;.
lao0s3 - sud after Ieiu-uuS 81. fhe money n The
trcasar, There remained balance o ,59 -,
,',i y,es reported par' o, The STATE debt, and
IA, afterwards Alldatci Dr. tie issne %, con
n
states Drpos.tc Fund. TIE fmoant due fum the
General Fund 20 'hc sper.hr funds Oh the 3ttn sep
t-a.lcr. I-t5 vas Sff1l5l -. winch vls reported
p. :he Co1,.ol,- % tle cout cuioa as r1-' 81 th'
state deb. cX.suu< cn ,ne =. June, 1850. TINS
showing ..ar the balances ~ favor o. The spec-1t
[ funds iI-ied deb, a-a.ust The General Fund lot
0lv -eco-u.1rt b., Jaw. bar Intended fo h' provided
I f- De- Old, constitution The balance due 'o iur
a.. h,r funds. m- advances to tac trcls1I prut io
/ IIlr 70 $50 must have been I8r-c.y reed hl
tlc transfer ot ,o1cn from ihc Canal and O. tte
~ lrfoi Fund. h-twr . Ilnr Isl ami - gteii''f
! 1|-h i-4f
The constitution lvV,oqra'es from ,se .'ua. re
v-.gc. .o OBI, General Fund. such sum l1' ~
ce.j.a- 100000 pcs aaulm. a. mas be- required io
I l...aV De ordinary expenses Cd. the STATE lue
amount 10 winch The Genera, Fond was entitled
/ .ou She c1ll revenues. under 'hs Pnn' or
trr first third ut p vear after % was io take effect
| vas c-t.rl II So00n00. o- So 500 g. whereas
the amount actually transferred exceeded that sum
/ By sJl71rI 30 TIE 49, oi April 5 $40. assumes.
7li g IS hell vcd correctly assumes that TIE canal
Fund became he creditor of rho Genera. tgnt FOR
ga amount Of tts excess BEYOND %" consiit1tona
appropriation l. is ppon tbs ground that 'hc
! CorfrcTc-s bond, 'o- s]ss c0o. issued 90 rc-aN
u.s ba',u-, sal Che interest Oh %, af' regarded -
p part of rho debt cN.srin, 81 the tine from winch
It's nr1agai article became operative AMI incrs
o-e char--a7.e gTou iho General Fund Debt HaN
1- Fund
Tie same principle Vas adopted by the Leei's
tire of I-is ln the passage o. the act author tu-
n .aq. 0n tie credit oi the Canal Debt SINKING
Fund 20 repay the Canal Completion Fund. that
portion of the surplus enues Of the canals over
/ ; 80 J10 Der auuum be.0ngu-s To the sinking
| F.n., All me General Fund which was applied
o. tie payment OF the canal deb; between June
/ ail sept 1u, Fac.
Whatever difference Of opinion may exist A. io
Pie tine construction of the constitution u ths 70
| spec' Ur a. Nla, point of iino Us provisions f'
| Ia .- % the canal revenues became operttit 90 n
/ 4, believed shat uc doubt csa be entertained -
/ spect..s t.e intention of - trainers
Il was known a. the COM ention before tn' hnil
sl1pt.on Of t.le Constitution by hat body, that
/ sum excesdi1e The rate of Sl.]o9o9u per anulm
! had been applied from the canal revenues. 20 the
pavmeut o. the canal debt since June D. $50 ! et
iDov provided bv the seventh Article for new dis
| tIbut,la ot tie canal revenues INTO dlsimft ilns.
| commencing ru the first ot June. ole thousand
/ eight hundred aud forty SIX and 90 ths distrihn
ZION ;hey .ct apart the sum Of sl.39o9o' per an
ruu as a sinking Fund 10 pay tie interest ani re-
Icem tire principal % the caual debt .as it existed
| 20 Ito time first Aforesaid
Tho same provision m respcc, 10 time con'f"H
the application o. the canal revenues 20 othor nHs
AID objects II could not have been conceived that
ans temporary use or application OF the iunds 10
m-eting tho exeences OF thu Treasury couh oP
crate a. subvert the instrument aud de.cat rs nm
mate execution according to iis plain AMI explicit
terms To give effect To the financial article was
pgr ar unavoidable or even q dhicut d1y u
vas .oreseen and Wei understood that tins might
5o easily accomplished by opening separate ac-
count .ih each o., the funds 10 which portions OF
tie canal rev enuos were assigned, commencing ola
tic day prescribed II one OF those funds had re
ceivci more than the Constitution designed, while
another received less. true account would cN
uib.' the ole as a debtor aud tire other credit
or il.d % the amount ct the excess 0r deficiency
ard the balances thus existing could not 30 disre
sauled DO The succeeding distribution OF the cana
revenues The Uniform practice OF the Treasury,
Dol 0U INK the requirements OF law Oh that SUBJECT
has reco-tized tbs distinction bcw eon the sew ra
llads created by former legislation. lt being con.
coded lhst the amount applied 10 the payment o.
nc state debt .sr-sr thsu the Constitution "ad
appropriated. and that the moneys were taken out
ID t.at portion Vi tie cana. revenues which had
been set apart Tor another purpose, car there De
.lrlf rs to i.lc power 0i the Legislature O raise
he mean, ol tuc credit Of th, Sinking Fund 70 re
pay tie excess 70 tc fund from winch II vas taken
L. other words. does rot the fund from which the
excess was taken stand m the place oi the original
creditor and Is 10 10, equally entitled 10 be pad
For many wears. the General Fund has been a
debtor 20 the School Fund sad the Literature uhd
| all the balances thus created have been viewed
and provided for invariably part Of the state
| icht This system results from tie eNseucies
frequently from tie necessities. Of The pubic ser
| wire The same practice must IA tie nature %
! things he continued lA the adjustment ami reglla
t0a of the several funds created by the Consttu
tol of l-it 50 tar a. 20 insure 10 each the proper
ZION OF canal tolls % which IL Is entitled
u fusy be- urged that although the financial pro
VISIONS ol the Constitution regulating the Canal
Revenues were 20 AXE effect. by express terms
l1 the - ot June set thes did lot become oper
alive natal they We're subsequently raAnet oy The
Pcope ald therefore coIi not act Retrospective els
a relation % payments AID transfers Of the Canal
Fuai. ade after that PERIOD aid before th" hnal
adoption OF ID, instrument But tbs position ie
/ believed % De- rnteuab.e and lalaci0us II the ar
-lmcuf is sound The Conclusion necessarily follows
tha' the llhors u che Constitution iherirom quo
rance 90 design. ea-raired upon Do provision hch
/ ga. .uTracf.caaie cf execution tast thc p.an
snd dt finite terms oi the susrImcu- are to be fe
cctcd n is interpret 8tlot and Dob short tha' 'o ex
/ crafe j, .n the manner % prcscnncs. involves its
..o.aon. and requires al -slrqa'lon 81
; t1d lim.l.st-ailvc authority
Tl, Controller Is not prepared 10 adopt rule OF
cuastra-f.ou SOD repu-uaHt o. reason tnd preredeuf
10 Is true The Constitution could not take etec' nm
t . received the popular sanction.
Tee l2th section provides that 70 shall ns IA
force from aud inc ud.ng lle hlst das of Jauuary