The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-03

ESTIMATE Pop THE EIerar vr.p

Puhs, w a. ~SOusuUU. hItcI deOucuug the con-
stitutonal appropriation to the Canal Debt Sinking
Fund, OF 81 800 600, and the contributions to the
general fund, OF 5000, 600, this estimate leaves a
surplus for the unfinished canals of $4,000. Of
this surplus S53S ESQ IL will be required to make
COED the deficiency of last year. and only S403 7i9
81 can be considered under the control Of the pre-
sent Lt gisature.
The appropriation Of last year for repairs proved
inadequate, and II became necessary to throw the
payments for September forward upon the appro.
priation for this year. This was done by inducing
one of the depose banks TO hold the drafts for the
month I'll the appropriation became applicable to
their payment.
1ne appropriations for repairs ought to be large
enoush 10 meet every demand upon them. Eco
nomc c.As.o. be enforced in the repairs of the ca
nals BY any resrictiOn in legislation The consti-
tuition provides that the current expenses shall be
paid first of all, il is obvious that they must be-
or our whole reliance for revenue would fail. No
foresight can guard against the fleets of such
storms and floods as prevailed during the last
son; and as the damages they occasion must of
necessity be repaired, II is very desirable that the
symmetry OF our accounts should be preserved, and
every expenditure paid from the treasury at the
time il is made, and not have those of one year
thrown upon the next, which necessarily shows, in
the account OF payments, an uRtre statement Of
actual transactions.
The tolls Of the present year are estimated at
$50 900 less than the receipts of last year. Under
the law OF last year, exeInptng certain live stock
and fresh meats from toll when conveyed on rail-
roads, il is already certain shat there will be con-
ldanon of four Of the toll paying railroads into wo
under the provisions OF law In regard to local
freight, also reduces our receipts from those COM
panies. The statutes in relation TO tolls on the
railroads need revision and amendment. The
Northern Railroad is completed, and is already
mantle sting its ability odraw profitable employment
from the business heretofore tributary to canals.
When navigation opens in the spring, we shall iad
the New York and Erie Railroad on the shores of
Lake Erie, completed in It's whole extent, contend.
ing with US Tor the transportation Of the accumu-
latlDg products OF the west. IL, under In power
full competition our tolls do not recede more than
$50 0OO IL will be the greatest triumph of our canal
policy that has been achieved in its benhcent his.
tory.
The wise liberality and enterprise of the State of
New York. in the construction Of the Erie canal,
opened the prolific West easy settle me mt and pro-
htable cultivation. Richly freighted vessels and
steamboats, now cover the wa ers of lakes and ri
yers here the whole tonnage would have been con-
fined 70 RATS and canoes but for this great work. The
accelerated growth Of the West, dependent upon
The facilities profered by the people of this State
has enabled industry and capital 10 penetrate re-
mote regions with solid iron roads and rapid en-
cnes, earning rich rewards for outlay and toll
where otherwise the forest path and prairie soil.
tude would still have been trod only by the adven-
turous hunter. II is the province of the wisdom
and justice Of the State to provide for the perma-
nent maintenance Of the ascendahcy, now long
enjoyed by cur great artery of trade, as a channel
OF intercourse between the States peoped by its
means and the Atlantic. This object would now
III
work OF the enlargement had not been unforta-
naiely arrested II the enlargement was now
completed, it would be entirely within the control
OF the State TO accommodate all the carrying trade
between the Atlantic and the lakes, at rates 40
cheap as TO preclude the idea of competition, and
at the same time TO secure a revenue sufficient TO
discharge the public debt, and relieve this people
from the burdens Of taxation for all time TO come.
The instant completion of the enlargement would,
if practicable, be cheaply purchased al a cost OF
SCO0,0 600 but far less sum Is required TO effect
II, 4pd the meat deeply interesting inquiry in the
present policy o. the state Is, how most economi-
cally and speedily to effect this great object. The
present estimates require for this purpose the sum
Of Gil 900 600. Allowing $3.50 900 a year under
the constitutional arrangement, we muet wait more
than fourteen years before the contamination Of
the work.
In the meantime, while the capacity CT the canal
remains limited, is revenues endangered by the
active competition before referred 10, and by the
less ambitious efforts Of the Canadians attract
business through the costly work with which they
have united the 81. Lawrence to Lake Champain.
IL Ia in the power Of the State 10 make this COM
petition subservent to the great purpose Of COM
pletinp her own Improvements, by exaciing equit-
able tolls foi the transportation Of property through
her limits on the thoroughfares which are the
legitimate offspring OF her munitcence.
Nor could it be a fair subject Of complaint on
the part of our railroads, or the p ope Of the West,
II this State should exercise its Just power in this
respect, and not suffer them TO enter upon an un-
restricted rivalry with the canals, Ito which they
owe the strength and wealth which have called
them into beine) until the canals themselves shall
have been completed.
Whether any other means then wisely protect
ing and outstanding the canal revenues, csn be
devised to secure an immediate eompstion OF the
enlargement, Is consideration addressing itself
with peculiar force 70 every responsible department
OF the government, and TO the people.
In Connexion with this subject, IL seems appro-
priste to present. view Of the progressive advance
ment Of the canal revenues from the opening Of
the Erte and Inamnlaln Canaia. The Canal Rnard.
in $40, presented 10 the Assembly an elaborate
report on the prospective revenues OF the canals, in
which they arrived at the conclusion. from their
past history, that II was prudent TO anticipate, at
least for the period Of years. an increase of
the tolls OF the Erie and Champlaiu canals, at the
rate Of seven per cent yer anuum, Tor each period
oi seven years-that is TO say, that the general re-
cult for seven years would be equal TO what the
tolls Of each yeer would amount to calculated at
that rate Of increaae from the seventh preceding
year. The actual result OF the seven years EN-
braced IN their estimate fell short Of their anicipl-
tons only little more than hall million OF dol
lars, in a gross amount ~ near sli, 100000 This
IL a remarkably close approximation TO actual re-
suits in an estimate for go long period embracing
transactions Of such magnitude Bat the results
Of further experience more fully justify the general
core ctness Of the views exhibited by the Board
Bringing forward the computations on the basis Of
the same estimated rates Of increase, II is found
that in the whole period nom the opening OF the
cenals, including 1850. the actual revenues Of the
Etie and CHI amplain annals have exceeded the pro-
rressive increase, AT seven per cent per year for
each period Of seven years, by the sum Of TS2 40.
The calculations Of the Canal Board were based
upon the rates Of toll then established on the ca.
pals. Since that time large reductions have been
made In the rates ot tolls, which, of course greatly
modified the results have stated
But, heretofore, every modification and reduction
Of our canal tells has been made (whether judi.
oious OF o hervise,) with reference to favorable
Ell, cts On The revenue. New, for the first time IN
the history OF the canals, the question is presented
whether they can maintain their business agains,
powerful and active rivalry.
Without this rivalry, I should not hesitate 10 AZ
tume with entire cor Rfdence, that the general rate
OF ncresse 81 seven per cent year for succeesinc
periods Of seven years, would he maintained Nv "a,
| Ere and ChHmplsin canaR, Tor another Quarer O