The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-05-14

that tho Canal Board has not to this day legally
recopuircd one Of them. The commissioners and en-
giueer, Notwithstanding, authorized the work to !,
proceed, and some few contractors made small
commencement. When the first month expired, they
presented drafts to the Auditor for instaen.s He.
not deeming the contracts conpleted and falilied
according the acquisitions of the law, refused pay
meIt He was Immediately cited before q Supreme
Judge to give his for Withholding the canal
funds The Auditor consulted John G. Spencer,
who upheld him in HE views. \ pcremptory
tamus was, however, issued, compelling him to pay.
Believing himself correct he carried the case to the
Court of Appeals. Argument was heard in April,
and the Court adjourned until the second Tuesday
in May. The Court met the day assgned-all
the members present except Judge Gridlcy, detained
by Sickness A decision was rendered reversing the
decision OF the Court below, thereby pronouncing
the canal bill unconstitutional
Had Joye hurled a thunderbolt directed at
the heads OF the canal conspirators- nine
million robbers-no greater CONSERVATION could
have been produced. All their plans frustrated
the grand political superstructure which had
almost received its cap stone, demolished with
one fell swoop-the mighty scheme Of controll-
ing the political destnies Of this State for Of
years, blown sky high. All the hopes Of desperate
ard daring legislative lobby scattered. to the furi
GUS winds All the anticipated fortunes ofknaves,
political blacklegs, rapacious bloodhounds, in %
moment buried beneath the pillows.
Where are the revenue certificates now Where
are the banks discOuntng upon them +! What are
they, in reality, worth Where is the one million
five hundred thousand dellars which the State has
borrowed under the defonct Canal law, and for
which interest is being paid at six per cent What
occasion has the State to pay that rate Of interest
If put deposit; only five per cent can be realized;
consequently a dead loss of ono per cent must ac-
crue. The million and half thus obtained, what
is to be done with it ! The law under which it has
been obtained, has been pronounced a fraud upon
the people. The highest court of the State has
lemnly declared that this money was obtained under
false pretences-obtained without any warrant
under the constitution Of the State any authority
from our Magma Charta. The capitalists have been
induced to part with their funds under firm belief
that the instruments were legally made but it turns
cut that they have been dcccived and as the matter
now stands, the Comptroller cannot pay any further
interest upon those moneys. The Legislature must
make the earliest provision for the relief of those
persons who have been drawn into this unfortunate
dilemma; but until some provision is thus made, we
doubt whether the first dollar of interest will be
paid. The Comptroller will be highly ccnsurable
should he undertake to assume any such qucs-
tionable responsibility.
How stand the conspirators who parcelled out the
canal contracts to their brothers, sons relatives,
and favorites! Will they realize the three millions
which they undertook most deliberately to take fin
the hard earnings of the people of this State
Where are the secret conclave-the letting board
Hawlcy, Abel, Hollis White, Bray, and others,
who for week, night and day, were closcted
in No. Congress Hail. Albany, during the ex-
piring days Of last December, parcelling out the
contracts! Where are the proAgatc political
gamblers, pettifoggcrs, newspaper drvellcrs, law
ye scrveners and on who sold out their contracts
for premiums Of from one to ten thousand dollars
Echo can answer where? A few of tho contractors
who have entered with good faith upon the perform
ance of their work. and have been arrested from
further prosecution, vii undoubtedly present
claims to the State for damages; but there very
few of this kind Nearly the whole, fearing the law
might be pronounced unconstitutional, have not
made any preparations for commencing work; and
they have adopted the wisest course.
Well, what is to be done {! The canals must be
completed, and done, toO speedily the provisions
of the constitution will allow. Will the Governor
call extra session of the Legislature for the pur-
pose of enacting law submitting the question to
the people at the coming November election-vhe-
TIER they will approve the borrowing Of a certain
sum OF money for the purpose! viii Governor Hunt
be ms prompt as he was when the twelve Senators
resigned! All sincere friends OF the canals, now
that the law Of 1861 has been annul]cd will cor
daily unite in call for extra session. If one is
not held, another year will roll round before any
steps can be taken, which will put of so much longer
the time Cor the completion of the canals. Some
thing should be speedily done with the million and
a-half illegally placed in the treasury the canal
revenue certificates in n pcrilous prcdicament,
and the banks which are now flooding the State
with paper issued upon such tottering basis must
be attended to at once. Our advice, therefore, is
that extra session be held as soon as possibe-f
only for couple Of days-pass a legitimate canal
like the one submitted by Senator
us another deal of the canal le.-
tings, and let sec whether there cannot be dis
trbution made more honorable and more upright,
and of greater advantage to the people, than the
late infamous transaction. But, as Weed is ex-
pected home on the first of June, Governor Hunt
may as well defer his proclamation for an extra
session until that time
The Game of th9GHvvO Old Parties on tho
Compromise-Nvhat says the South.
The light increases-the fog is clearing away
to the verge of the political horizon its landmarks
nre becoming visible The plan of the campaign OF
1852 already stands out in bold relief 1t is too
palpably manifest to be misintcrpreted, that the
measures viii be completely lodged
BY both the Baltimore Conventons-that neither
The democrats nor the wings will have the moral
courage to touch them--that they will both go be-
ore the country with the door wide open to the
slavery agitation and that the great issue will not
DC the nalty of the slavery adjustment, but con-
est between the wings and democrats for abolition
votes and the plumber Of the public treasury.