The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-11

lumber regions bordering on the Iake require an
opening and an avenue by which those useful pro-
ducts can be readily transmitted to cash market.
There is another railroad route in this northern, Sc
questered portion of the State, which, two three
years since attracted considerable attention, but has
recently been lost sight Of We refer to the project
of connecting Sacketts Harbor with Saratoga, thus
opening an avenue between Lake Ontario and the
Atlantic. company was formed and consldera-
BILE amount of subscription obtained on either end OF
the route; and it passed through large tracts Of
State lands, in state of nature, and inaccessible
by private means, the Legislature of 1850, in
order to encourage the undertaking and as
sist the project, agreed to dispose Of alternate
sections at a mere nominal price, to the company
Nothing has been heard of the railroad Snce, and IT
is more than likely that it has been finally abandoned
Now in this seauestered region there are millions OF
acres of public lands, large portions OF which are
studded with forests of pine beach, cedar, hemock,
&C., and the bosom of the earth filled with mex
haustibe beds of mineral wealth. All this treasure
is known to exist and that too within two hundred
miles of this city. 1t is locked up from the use Of
man-it lies unused and unoccupied- solely on ac-
count of the mpossbility of individual industry
enterprise to penetrate those rich recesses. Only
d !,
scare the owl from her present secure retreat, and
thousands of axes will at once resound in those
forests and tens of thousands of pckaxes be delvng
in the bosom of the rich earth, rolling out in leaden
and iron streams the superabundance Of wealth
concealed from the use of man ever since the mighty
word was given, Let the dry land APPEAR
The Natchez Courier Of the 2lst Of December,
says We understand that the high Court of Errors
and Appeals has just made decision which vir
uay sets at rest the question of the legality Of the
Planters Bank bonds. An act was passed by the
Legislature, March 4th, ls4s, approprating to the
payment ofthe coupons for interest on the bonds is
sued by the States account Of the Planters Bank
according to their priority the sinking fund then in
the State treasury and which might thereafter come
into the Treasury.
mandamus was applied for some two years ago,
before the Circuit Court of Warren county, to COM
pei the State Treasurer to pay such coupon for in
teres The court refused the application; and on APP
peal to the high court, the latter body decided that
the Treasurer was not authorized to pay the coupon
without the auditors warrant.
A second mandamus was in the meantime APP
piled for before the Circuit Court of Ainds county
to compel the auditor to issue his warrant to the
plication was granted. The auditor appealed to
the high court, and this tribunal now decides that
the auditor shall issue his warrant for the coupons Of
interest that are attached to the bond and falling
due March /, lS4l OF, that all coupons of that date
outstanding and unpaid shall have privilege of pay
ment over those due September !, lS4l. The
Judgment of the high court is, we understand, anal,
and the auditor is obliged, presentation of GER
tilted copy Of it and the bonds to issue his warrants
for the coupons Of interest due March l. 1s4l. These
coupons amount to $45 600. The State is now using
this sinking fund to pay its governmental expenses.
The principle of this decision, we should suppose,
will also compel the payment of the September, lS4
coupons, after those Of March are paid The de-
cision has its greatest interest in the fact that it
settles by a solemn decision Of our highest court, the
legality and coustitutionaty of these bonds. Had
they not been consttutionally issued, and legally
binding ON the State the high court would have dis
missed the application. The first half million of
these bonds have no coupons attached. The decision,
therefore, only applies to the interest on the last is
sued million and half