New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-11

necessary resort in case the Wing policy
Of vigorously prosecuting our unfinished
Public Works TO completion should be per-
sisted in And it was thus and thus ohy
Nat the credit of New-York was depressed
in lsis-by Loco FocO Reputation enact
81 in other States and threatened IN our
own. And this depression, thus elected
was made pretext by our restored bouF-
bons for stopping our Pablic Works COM
pletely and interminably, sublecting the
State to heavy damages in favor OF Con-
tractors whose contracts were broken, and
leaving large masses of materials and unhn-
ished structures to crumble into decay and
Iuin Canal men will YOU put your head
into this same tigers mouth again!
A Constitutional Convention was held IN
1916, and the Democracy by panderingto
and playing upon the popular prejudice
against the Black Race. were enabled to
carry 4 majority of its members. In that
Convention, they fastened provision on
the New Constitution of our State by which
they confidently hoped to prevent any future
recurrence to the policy of borrowing money
and completing our Canals forthwith instead
of being twenty years about 1t, and thus los
mo As muclr as their entire cost in interest
on the portions from time to time construct
ed before they could be made available by
the completion of the whole.
GOV. Hunt and his Wing advisers at
length devised the means of prosecuting
vigorously the unfinished Canals without
cortrayening the terms of the constitutional
clog. A WhiG Legislature framed and
passed bill in accordance with the Govern
or's recommendations-orw would have pass
ed il but for the concerted resignation OF
nearly all the Democratic Senators, leav-
ing the Senate without quorum. SPe-
cial Election to fill the seats of the recusant
Senators was thus rendered necessary, i'm
posing a heavy expense on the State, IN
GLIDING the cost OF an Extra Session But
the result was most decisive and suspicious.
The engineers of the Senatorial explosion
were hoist by their own petard. Dis
severed members were seen ilying III all d.
rections. and the master-spirits, who had
confidently calculated on securing to them
selves the best State Offices TO be filled at
the ensuing Election, were lnexorably con-
signed to the shades Of private life. The
Canal bill so violently defeated at the regu-
lar was triumphantly passed at the Extra
Session. the successors of sir of the recu-
SAINTS being among its most determined sup
porters.
But the anti-Ca anal party, though beaten,
were BY no means silenced They still
manifested the most embittered and active
hostility to the measure which had been so
overwhelmingly sustained by the people
They exulted in the confident hope that the
Lean required to give the measure vitality
would never be taken at par and it could
not be taken at a lower rate. They decrled
the security offered, and attempted to shake
the credit of any Banks which might bid for
portions of the Loan. They Insisted that
the Court Of Appeals would adjudge the
whole operation unconstitutional and lnyal-
id from the outset They did all they knew
how to do to prevent the Loan being taken,
and when it ,cds taken at a rate somewhat
above par, they soothed their chagrln by
the consideration that it was not obtained
on terms nearly 50 advantageous as could
have been obtained for a regular loan on the
unreserved faith and credit of the State
Though not successful in defeating 1t en-
tirelv, thew had reduced the premium
paid on it into the Canal Fund some hun
dreds of thousands of dollars below what it
might and would have been but for their
patriotic exertions
And now this party comes forward to ask
the friends of the Canal Enlargement and
its adluncts to commit those great enter
prses unto their keeping True, say It's
leaders in substance, We would have stran-
gled your measure if we could--true, we
broke up the last Legislature expressly to
prevent its passage-true, we did our best
to defeat il even after the Special Elec-
ton had pronounced your overwhelming
decision against us-true, We did our best
to prevent the Loan being taken by decry-
ing its security as worthless and stigma
tizing beforehand the Banks which might
bid for this Loan as rotten-true, we have
threatened to nullify this act in the Court
Of Appeals-but then, seeing that an Flee
ton is Just at hand, and carefully remem-
bering how badly YOU logged US only in