New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-01-05

" 4OOOs
the half mil under this law the expenditures hsye
sui exceed ed the OF this fund By nearly the
same sum Tkis TACT taken in connection with the re-
duction OF The half mil tax quarter OF mill. By the
law q ls2 and consequent reduction OF revenue OF
81 least $4,000 from that cause siis another 70 the
already accumulated evidences OF the entire inability OF
the General Fund % sustain the expenses OF the Gov
eruIrent hereafter unless large reductions in the
pendiiures Of ell the departments promptly made,
ormeans provided 10 sustain the Government by further
there j. no escape from this alternative II the cx
penses Of The Government and the annual appropris
mons hy the Legislature ere not dlnnih the treasury
must be repeuihed by restoring the asll tax which
upOn The yaustors OF lS5l, VIII add >s 200 81 TO the
revenues Of the General Fund. This sniouat sdieitO
tie estmsted revenue ofhc preseriyc viz 9si0
viii produce the sum OF sl,07l2i6 81. being less by
s200es 95than the on the Treasury Tor
Tbere sboni be deducted from this last snouni the
sum OF SlSS6il Is which WIS errOneoGsy pau ntotae
Manhattan Company to the credit OF the treasury Oy
the Comptroller OF the City OF New YORK, IA the month
OF February last 1t was the school moneys due nom
ihet Civ and properly payable over 70 tue cre OF
tbc Supe-ntendenf of Common Sch 1ols. Aitcr II was
in the Treasury II must be drawn Oui upon warran
which was done and it therefore appears as so mlch
taken from the General Fund, but in fact the TRANSACTION
balances itself leaving the actual sums received mo
and paid from the Treasury unaffected except 20 add
precisely that 10 the reel amounts received and DIS
bursei Making this deduction, the sum would be Sli''
666 q instead Of S2OO.leS % "a above stated.
twill be perceived that this aid. by al increase
of the tax 20 hall mill will not relieve the General
Fund from lie present embarrassment II tle expenses
are kept up 10 the sum paid during the last year. u
still will remain debtor to the SPECIFIC funds for It's over
draft Of S2O40l0 10 AMI leave deficiency OF revenue
az he end Of the next fiscal year OF sl46SS a. WITH
this statement OF the condition Of the Treasury the
whole subject II submitted to the wisdom oil inc Legs
lsiurc.
Heretofore the deficiency OF revenue ovcrpaynent
from the General Fund has been met by temporary
loans from the specific funds, In the shape OF Comp
trolers bonds The power to make such loans Ia con,
ferred by sect e. page 800 4th eli. OF the Revised
Satutes But the Comptroller does not believe that the
Constitutional power % borrow any urtner sum uhuei
the seventh article OF the Constitution so meet casual
deficits failures in revenues or for expenses nos pro
vided for exists because the deot already contracted
exceeds the Of 81 OO0O00 and the tenth section N
the seventh article declares that the debt contrac'ed
under that Section direct contingent sin zig in the
aggregate shall not at any tmeeSceed Sl,OOOOOO
The following table shows the debt authorized and
contracted since the adoption Of the Constitution;
1913 chap 2i5 for completion o. public works lNSls 81
ls;9 chan 25 fo completion OF pubhc works. 3SSVo %
1919 char 80 for canal damages .''....' $500 w
isi9 chap % for canal repairs ........ 5eeO ~
1919 chap 6o for purchase OF Albany Basin. 2olS @
1851 chap SOL enlarge Osweso Canal and locks Vo w
Actual debt contracted 4S5 81
Authority under chap sol above to borrow 10000 90
p.b contracted and authorized. .SI7I748 81
lie respectfully refers the Legislature pages H. &c,
Of Senate document No 6s of 1882 for his views here
| Ccusiiiuonaliy Of the various laws by which II has
| been created
CANALS, THEIR REVENUE, EXPENDITURES
DEBT, sc.
The csnsls OF the State proud monuments o. lts
eftertrise ard great resources. They have yielded
| rich harvest in revenue, and with economyn eNpend
lures for superntendence and ordinary repairs, lust
graduation Of tolls adaptation OF their capacity TO
meet the greatly increased commerce OF the great West
and careful protection OF their legitimate business
against competing modes of transportation, they prom
Use a full accomplishment OF the Just wishes OF the
friends OF Internal Imp ovements In the state Their
nctuul value has been estimated az capital which IN
vested al an interest of per cent would produce their
annual reycnues Taking the acuis receipts from all
sources ths year, Viz: $3l19lij o. es the basic their
value o. capital Is @j295 76j This sa rich inherit
ance OF durable wealth, which may Justly challenge tnc
admiration OF the world the fruit OF single State en-
terprse But may bc Questioned whether this valuable
patrinonv has always been husbanded With the care
and prudence which t importance 20 the great inter
ests II revenue aud commerce demands
The COMPTROLLER here argues the Canal question
after his own fashion.
Tho G,ovypg tables exhibit in detail the Canal ,ht
Revenue and Expenditure, and the operation Of the
sinking Fund tor the redemption OF the debt for the
| fscol year ending 3Oth Sept, le02
| CANAL DEBT
| From the books OF the Canal Department
Ere Canal S3lN86 ~
OsyoGo Canal Enlargement ....,..'.''''''' S0VOv w
CLsrrns 49,, 1872 -
S ny Fiye1 4O8oli IS
Gene ZEE Valley Canal. 3OSt6S. ~
Oneida River IN ass %
20 cpn,Iittion 9l55a 10
Amount Of the Canal Debt chugeable upon the
conn,lon ono ,............. Is25a5,s 81
! To provide Cor eItrsordinsry repairs, chapt.
To %baSy Basin chap 30 Laws Of 1919 1885 %
To amount of Csnal Debt Sept 30 1882 sl55O 100 l6
Cane Revenue { Certificates, %, 1851. u, 10000
Csral Revenue Certificates 10 1866. oOoOOo o.o 40
Total of anal Debt and Revenue Certificates s7Oo09 IS
FFyrNJrs AND EXPENDiTURES OF THE FISCAL YEAR
Statement OF the revenues OF the state Canals. aud
the expenses of collection superintendent ami ordinary
repairs during the fscsl year ending 3Oth september,
lsj2 art T. /, Of the Constitution by the Auditor
~ ''' Receipts
Toll, from Cauals...............SJ 32i p
Ions ''0'n N''''O-D' - s3 49, 222 -
pe-t n .r,olus voter ACKNOWLEDGEMENTS. 1866 10
Io,ersst on elrrent canal revenue. Gs 42se -
sSl79,It5 10
PaymeHt'.
For repairs On canals VIZ
/ To suyeriutendeuts OF
I repairs eS.s ~ %
20 eS. ala. o..4.,''.o4 l26ls2 IS
Fog expenses of collection Of tolls, Sc
/ By Collectors Of tolls soI4e1 %
/ BY WeIghmssuss..'' ''N's !" en- -. a,
/ For tolls refunded .............. lS5oo 80
! DI
/ n. sslary of Auditor and Clerks . e..
! Of the Canal Department ..... .'V9y ~
For m.@e"'Ae"u' i'' - LOD0i5 %
.sr-,n. s2IsoO3s 50
: Arpopuf set apart by article 7, Of the Consti-
| futon. 20 pay the interes, and redeem the
principal OF the state debt, aud Tor tho sup
port OF Government, VIZ
| P5r that part Of the debt called the ., 49,, "a. 10
! Canal debt Il u..s.........'. sI"oVVU
| For that part OF the debt called OK, ooo "a
| tie General Fund debt, u ~. 'o'VV "
For the General Fund, 10 pay tire
! necessary expenses Of Govern ,oo ooo oa
n4ent, ,sS'.'''''''''''''''''' - i,s5oOo) o.
The - refns inder Of the revenues OF me ish
year az Isicable 20 the completion Of the IRE
Cara v Ennistmei,'' .....,... s5soOs9
-. -, . ruy REDEMPTION or THE CANAL