The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-01-09

the Unve rsi,y. ..................... 1900 90
improvement of Racket river. ........ $500 90
Hudson river =. . TT" 1000 90
prehension Of criminals ............. 1000 90
Interest ON loan for purchase OF Albany
Bason. .......... 800 ~
Miscellaneous. Observation-Disclosures. 10000 90
s602, 443 "a
The foregoing estimate includes $4,000 for the
support of the Sing Sing and Clinton State Prisons.
An early appropriation Is needed Tor this object, as
the prison appropriations have been made with re-
ference to the calendar year, and the amount APP
| proprated by the last Legislature is exhausted.
In addition to the above estimates, several new
appropriations are required tor the current fiscal
| year. The orders oil the last Legislature caused
large increase In the printing expenditure and the
amount appropriated for its payment was made.
| quate. The appropriation tor the present fiscal
year (being $6o, 0ooo Is alreadysexhausted. Dur
ing the year there has been paid from the ordinary
printing appropriation nearly SIS 900 for engravings
and illustrations II will be necessary to appropr-
ate $780, GOO more without delay, for the purpose of
paying the cost OF the Documentary History, &C.,
ordered at the last session. The ordinary printing
expenses have been considerably increased by the
cost OF maps, engravlngs and c0onngs, intended
10 illustrate Indian antiquities and revolutionary
Incidents
The appropriation for the expense of Transporting
books and documents TO county treasurers clerks,
and to members of the Legislature, is exhausted,
IL
quired 10 convey the books ordered at the last
session. This large increase of expenditure is
caused by the unusual number of books distributed
by order of the Legislature. An important saving
might be effected If the person entitled TO these
publications would receive them here. The ex-
penses Of the Western House Of Refuge have been
largely increased by the act of February 20, $780,
requiring all juvenile delinquents convicted in the
4th, 9th, 9th, 7th and Sth judicial districts, TO be
confined in that institution. No additional appro
priation was made with reference to this increase
and it was found necessary 10 apply $4,000 of the
fund intended for building purposes TO the ordinary
support of The institution, during the last fiscal
year. In order to restore this amount TO the build
ing committee, and to defray the ordinary expenses
of the establishment till the close of the present
fiscal year. further appropriation of $4,000 is
needed. From personal examination Of the in
s,itution and its management, the Comptroller is
satisfied that It's expenditures have been regulated
with great skill and economy.
The appropriation for paying the costs Of suits, is
also exhausted. This expenditure has been much
increased by the fees Of counsel employed in the
manor suits and the State prison controversy
further appropriation Of $4,000 will probably be
needed for the present fiscal year.
An estimate OF additional appropriations required
for the expenses OF government during the remain
der OF the fiscal year, is annexed hereto, <marked
CO.
THE CANAL FUND.
IL will be seen that the canals of this State con-
tinue 10 Justify the authorizations SO frequently ex.
pressed by the advocates of a liberal sy stem of
public improvements The gross revenue Of the
canals during the last fiscal year. including interest
on deposits and rents OF surplus water was s., 1885,
liz 80, being an increase over the receipts of the
preceding year OF Si3, 200 6s. (See statement
marked d.
The amount received for canal tolls during the
last season OF navigation as far yet ascertained
was 81, ut, 9O3, being an increase OF SS,67 upon
the tolls of 1919.
is proper to state that the receipts for the fiscal
year ending September 80, 1850, fall below the esti
mate OF the commissioners OF the Canal Fund at the
considerable reduction OF tolls on some lead
ing articles OF tonnage Was made by the Canal
Board before the opening of navigation. II is be-
lieved that these reductions produced considera-
bic increase IN the canal trade, without any dimi
mutton OF the aggregate revenue. An interesting
question arises, how far the policy of reduction
be carried without impairing the revenue. In con-
sdering this subject, the importance Of ensur.
ing the completion of the enlargement Of the Erie
canal should be kept constantly in view As Ii
mied proportion only Of the surplus revenues can
be applied 10 this work. under the provisions Of the
constitution, policy should be pursued which will
place the revenues at the highest attanable point
Of productiveness.
II was foreseen at an early day that the enlarge.
nent would be necessary TO MAINTAIN a successful
competition with rival routes, for the western
trade. The experience OF the last year tends to
confirm this opinion. considerable diversion OF
business has been caused already by opening new
channels OF intercourse The revenues of the Erie
canal VIII be exposed to sorrows dlminutlon, by
transfer OF trade TO other routes, untilshe cost OF
u
by the coDpleuon OF the enlargement. Yet it's
believed that under no state OF things likely TO
cur will the income of our entire system of canals
fall below the receipts OF the last fiscal year Dur
ing the hrst months OF navigation, the last season
the canal trade impaired by the short crop OF
1s49 in the Western States.
After deductng from the gross revenues OF the
last hscsl year, the sum OF s6i4 ,762 for the ex-
penses OF collection, superintendence and repairs
and &l9l BOB 81 for new locks, &c, on the Os-
wego and other lateral canals, there remains net
income Of q, CO., 2O6 ~. OF this sum sl,s5o0OO
has been carried to the Sinking Funds and the
General Fund, IN compliance with the constltu-
uonal requirements leaving $500, 206 - applicable
to the appropriations made by the last Legislature
for the completion OF the Genesee Valley and |
Black River Canals, and the Erie Canal enlarge
ment
Adopting the last year as a criterion, the present
value OF the canals Is equal to capital Of sH, no.
bet income; fer the last five years, s25ls.0ii 81,
which Is equal to capital of ,ll4 30 at SIX
per cent interest.
The entire cost OF all the canals, including the |
Valley, and Black River canals, to 30th September
last &35, lis ,237 10, as exhibited by the ac-
companying statements, (marked T.. ID
THE STATE DEBT SINKING FUNDS.
The entire amount Of the State debt on the Goth |
Of September, 1850, was t22 $50, SOP -, exclusive
Of the contingent debt, Qoans to railroad compa-
mics, &c amounting to 1888 ,036 10. (See state
ments marked L 2, and K g.
oEsERALFUSD STATE DEBT.
The amount Of the General Fund State Debt on
the Both OF September, 1850, was q, $50 693 %.
The amount required to pay the annual interest on
this debt Is Ass, OIL "a.
The amount set apart from the canal revenues,
as a sinking fund, TO pay the interest and redeem
the principal OF this debt is t3J0, 900 per anaum,
until the canal d. BIT shall have been exiting sished,
when the General Debt Sinking Fund will receive
100000 per annum, until the entire debt shall
be discharged The present sinking fund appro-
pristIon 10 insufficient by 1901 ~ TO meet the
pay me nt- OF annus interest: and this deficiency il
provided for from the surplus in the sinking fund
which amounted TO tl2, 2t7 o., at the commence.
ment OF the present fiscal year
OF the General Fund Debt, 81 III ,3si 90 con-
sists OF Comptrolers bonds, bearing q per cent
interest, which are held by the Safe as invest
ments Of the capital Of the Literature, Common
School, and United States Deposit Funds.
Although these bonds are payable on demand,
Except $4,000, payable IN 1866, IL will be OBJ