New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-04-28


the general Income or revenues Of the State.
Thew are dedicated exclusively to one pur-
pose and cannot be put TO any other. The
Government receives them as trust to be
sacredly applied to the enlargement OF the
Erie and the com pletion Of the Genesee and
Black River Ca ais. the work TO be done
according to the discretion Of the Legisla-
ture, and paid for by those revenues. Bat
suppose A & B, responsible parties, come
forward and say we will do this work right
off; instead of being twelve years or TWEEN
ty years abou, it, We will do it in three or
four, and we will take our pay out of these
revenues as they come in. We ask for no
other security whatever. We will do the
work, and take your certificates that we
have done it, and when the revenues come
in you shall hacd them over TO US accord
ing to the Constitution until the work is
paid for. The Legislature, exercising their
constitutional discretion in the matter, &C
cepts the proposition. That is simply what
the Canal bill is intended to do.
Now we say that this proposition does
rot involve the credit Of the State hair.
1t does not involve its income any further
than is already done by the Constitution
The Constitution makes a certain appro-
priation, AID sets apart a certain fund, Civ
ing the Legislature Discretionary power
only as to the manner Of applying 1t. The
Canal bill says it shall be expended in
special manner; il merely anticipates the
actual receipt of the fund, in order to the
speedier and vastly more economical and
profitable execution of the work to which
tits appropriated.
Besides, the borrowing of money on the
credit of funds set apart for a special pur-
pose, is expressly recognized by the Con
stitution (AIt. VII. So as something al
together distinct from the contracting of
debt on behalf of the State.
Now perhaps Truth may aPPrehend
that the case is not parallel to that in
which he would himself be placed by
pledging the income of his property.
These revenues are already pledged by
the Constitution, The legislature is the
trustee charged with discretionary power
as to their expenditure for this sole pur-
pose. The proposed certificates entail no
new obligation, create no new responsible
ity. If ruth were entrusted with the
discretionary expenditure of the income
of fund set apart to build 'ollege for
example and were to build the edifice in
one year, on the credit of that fund, In
stead of ten years on its actual receipts,
would he contract a debt against himself
by so DOING Here is a parallel which
comes much nearer the fact and which
we commend to his rumination.
No, next to the conduct of the Dis
organizers, which the people are called
on to brand with condemnation, the real
question, after all, is-Shal the Canals
be enlarged The Opposition leaders
mean that they shall Rot-not because
they care so much about the matter
themselves, as because hey are still
under the illusion thst the citizens of
this State are opposed to its long tried and
triumphant system Of internal improve
ments. They think that by sailing on that
tack they may get control Of the State
On the part of the Wings there has been
no wish to make this party issue. They
supposed that it was matter so intimately
connected with the glory and prosperity of
New York, that all men of all parties, ex-
cept a few whose private interests were
otherwise, would 90 for it. But that, it
seems, was not the case. The Opposition,
desp,iring of carrying the State by any
regular means, seized upon this. To ac-
complish their design, they have stopped
at nothing. They have disorganized the
Legislature, and tramPled on tho principle
that the majority shall rule. This they
have done in the desperate hope that the
people will sanction their proceedings.-
Men of the Central Districts What say
you ? Shall the Canal be enlarged now,
or shall it be left to decay under the COM
petition of the Railroads Shall the re-
venues of the State be raised from its pub
lie works or by taxation J
The Curreney-Benking System In New