New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-06-21

Az ACT WaSrcpOrted % authOfiEe the Brooklyn Al
Jamaica Railroad 70 increase their capital stock.
] And, then. N Committee Of the Whole, Mr. BROWN,
OF the Isl District n the Chair the Senate passed %
/ ihe consideration OF The Canal Enlargement bill
! Erie Black River and GeneSes Valley Canals.
The hrSt section. declaring the revenues % The Ca
nas set apart Tor these purposes was adopted. with
debate on the second section prescribing The form AMI
Arrangement OF the Canal revenue cirtihcateS
Mr.. STANTON moved 70 amend 50 as 70 make the
rate O; interest instead of per CENT, ou; he Com
mlttCe refused
Tire section prescribing particularly the m inner m
which the Canal revenue shall be SCI apart received
no opposition. The same disposition was made iog
the ih directing how The acts shall De- kept. and ,he
5th. which provides for the temporary investment by
the Controller Of moneys received for sales OF the
certificate. The oh IS as follows.
So The Canal revenue certfcaeS ISSUED according
% the prov n his act shall be fC-ovc1 from any per-
son, ASSOCIATION Of persons formed Tor the purpose u
haukng and ut;ng 20 conduct banking operations
Ger The laws n this STATE for c-cualns notes % DC deli
vcred 20 such person or ASSOCIATION The manner
upou the terms and 70 the extent NOW pro-
vde rs law respect 20 the pubic stocks ISSUED hv this
State and the SAID certificates may also be- received an
anl insurance c'ntn'. Organized IN any o'he- sac, m
compliance with law requiring the depo>e of csrif
Gates Of Sok ,eoas io the performance Il he unler
Mr. DARr Of ST. Lawrence. proposed to amend by
directing that the Bills 50 issued should have en-
grayed on hem. Secured by Canal Revenue Ger
uncaies" n whole or N part. as ne case may be.
THIS was debated az length and rejected
The tn section preScroeS the regulations for The
sale by the Controller, OF certificates IN the same
manIC- as u the public stocks o: The state.
Mr DIRT moved 20 amend a. follows The Ger
thcateS shall be- Sold az pubic auction, or by re-
ccNlng sealed proposals therefor 90 the person %
persons who VIII bid or offer The highest prices
therefor"
This drew Tout debate involving not only the
merits OF the amendments, but the Suoleci OF the re-
slgnatlon OF the twelve Senators MeSSrS. STANTON,
Cook, GEDDES, CURTIS, Lyon, BARCoCE ana JOHN
participated IN the discussion. I'm the course of
the debate one of the senators who had resigned
said that he believed that. under the Constitution
RI.9ufft = lS~fIsn
That he admitted and proclaimed. The state OF
Newly orN would never take money from any man
10 &c used IN the promotion ana advantage OF her
Public WORKS. without fully replylng hm. There
was no reputation about New-No rk He hoped the
bill would be amended 10 provide thar the state
should get the highest price for them. Recess TN
AFTERNOON SESSION
The discussion OF the Canal Bill waSrcsumet. The
Committee refused to order the revenue certificates
20 be sold Nv auction
The llth Secflen Is rs follows
SIC a. The Canal Board shall from ycl- % rcir. anil
otherwise directed by Of the LEGISLATURE. adjust thc
State, such their judgment v produce the
greatest amount uftrsde sud revenue
Mr. BEEKNAN offered the following amendment,
which received. but the Committee thought
most proper to come IN after the 9th section
But IA Of failure Of revenue from the Canals
h reason Of pesnence deficiency % crops CO.. breaches n
damages TO the Canals fm aay other causes tAe
state shall m extent be liable 90 maze up any dcloe
Of revenues OF 10 redeem the anal revenue coithc & pa
any other manner than o the surplus Of the
Canals OF the State directed by ihc provisions II ts act
- Pee applied 90 ch purpose
Mr. STANTON moved TO add the following
After payin- principal and interest OF the Canal Revenue
certificates issued by r acts aud acr payas The
several amounts prov iod hy the Constitution % De applied
10 the eyneuiShmeut OF the Canal Debt and the General
Fund Debt and tor hc necessary expenses NJ the Govern
ment there shall therefore De levied unon property trans
ported the Canals of The state more or higher tolls
han shall annnalv produce an amount sufficient pay the
annual eypnses of ecfng The sad tolls superntendns
the said Canals and keeping he same IN repairs aud to pay
tie Treasury u each year such may be required fn
dnfav the necessary tNDensts Of the Government pro-
yded ID section 81, article 7th, of the Constitution
The Committee refused 10 adopt the amendment.
Mr. STANTON moved 20 add the following
But boats gong from Underwater shall whs transport
ue either freight or passengers be exempt from the p1y
uen ofoll any and an the Canals Of the State Lost
Mr.. BABCoCK offered the following
Nothing In 2l Section shall be deemed 10 aleci IN an
manner the power o the Legislature % alter reduce
lease the payment of any tolls 20 the state on property
Transported on any Railroad m Tins state Adopted j.
Adjourned.