The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-26

tnatsd additional durss 70 bs made the cur
That work contracts continues at the rate Of pro
baby 100000 $4,000 month, when the estimated
surplus for the year. which they are charge Is al
That the slready made this fiscal year on
account OF the completion Of the public works and any
further payments are and must be- in anticipation OF
surplus which will not be earned tai near tne Close OF the
year g. .ho .,a,,
YEAR of 500 600 based upon the tolls OF last year - d.
mnlshed 81 $50 BY the falling Oh Of hSt amount u '''
That the estimated cost to finish the work now under
That the Auditor notified the Canal Commissioners in
June last that the condition OF the revenues was suc
that not more than and probably less shan my per Geis
estimated that their outstanding drafts dshonored by the
Auditor for the want Of means including drafts Tor work
That there additional drafts Of the Canal Commits
soners to the amount of $Sl TO drawn on the Auditor
and honored by him. before the decision OF the Court OF
Appeals for work performed by direction Of the Canal
Commissioners on the alleged contracts made under act
Increased ed to sioo, 900 or $4,000
In view of the foregoing the Auditor asks the advice Of
the Commissioners Of the Canal Fund as to the measures
prevent tho necessity his part OF dishon
orng drawn upon him. by the Canal
for expenditures which charge on the surplus reye-
nues and take care possible Of the dshonored drafts
have notified the Canal Commissioners that can pay
further drafts in favor Of contractors engineers or for
land other damages allow any account voucher
50 far as they are charge on the surplus, until shall
otherwise them.
It should be stated however. that in the estimate
Of means wanted for necessary work within the year
put down ut 1876 900, and which is charge upon
The surplus omitted the expense OF the repair and
Improvement OF the old locks, from Rochester to
Montezuma, by the temporary enlargement of the
their sze for the that supposed at the time
that the work was to be done as repair. Act chap.
233, of lS49, however, which authorizes it, directs
that the "expense thereof shall be betrayed out OF
the moneys appropriated, or to be appropriated for
the enlargement Of the Erie canal" This will add
to the expenses chargeabe upon the surplus for the
year, beyond its estimated amount, the sum OF about
$4,000
As the work has been ordered by the Canal Board
and let by the Canal Commissioners, with proyi-
sion in the contracts that it is to be completed by
June /, 1853, and as there can be no enlargement
moneys before nor for long time after that date it
is suggested that provision be made by law for the
payment Of the expense as repair OF the Erie canal
\ out Of the current revenues.
very important, and perhaps controlling, quail
fcation Of the estimated amount OF the surplus, or
remainder" for the current year applicable to the
completion Of the public works, is furnished by the
increased cost Of repairs for the first three months
of the fiscal year. commencing with the first of DC,
tober The estimate that the surplus OF the current
year would be 100000, or $4,000 more than the
surplus of the last year, after deducting the tolls
from railroads was upon the suppositon that the
expenses would be nomore than for that year. Com
pairing the advances already made on the drafts Of
| Canal Commissioners and Superintendent, in the
three months named, with similar advances in the
! corresponding three months Of the previous year,
the results are as follows = 400 go -
In 1851 " .......,.. 24S,233 81
Increase in the last three months. s7G,966 Il
This increase of expenses takes, vt once, &c.
500 u from estimated surplus of $500 900 for the
/ current year. A like increase for the remaining
nine months Of the year would more than use up the
residue. Snch result would of course, leave the
treasury without any means applicable to the pay.
ment OF any of the outstanding drafts OF the Canal
Commissioners, or for any new work, or for engi-
neerng, land damages, or any payment OF any de-
scrpt0n, account Of the Erie canal enlargement,
the Genesee Valley or Black River canals, during
the fiscal year ending 30th September next.
With these Indications furnished by the first three
months Of the fiscal year. prudence would seem to
dictate that it should not be relied upon as Ger
tainty that there will be, either in the current
in the succeeding year, a surplus from canal tolls
sufficient to meet the outstanding drafts Of the Canal
Commissioners, which have been dshonOred by the
AUDITOR iui want Of means, PRIOR any of the purposes
before named. There is no power to borrow for
these objects If the revenues do not increase or II
the expenses are not diminished. one Yg both, there
is no remedy for the difficulty short Of some So.
| taxation: II is hardly becoming the dignity or the
homer of a powerful State to trust the payment of
her outstanding obligations resting under pro-
test, to the precarlous prospect Of a surplus, the
earning OF which is subject to many contingencies
as is the remainder of the revenues of the canals,
beyond the charges made upon them by the con-
sttution, exposed as it now is to the unrestricted
competition Of several lines Of railroads.
i j. not just towards creditor of the State who
holds her dishonored obligations that their payment
should be put by and deferred, upon preteyt Of
awaiting the uncertain means from a particular
source Of revenue when the State has il in her power
Certainly and speedily to procure them.
Statement No. so, shows the receipts and payments
on account Of the Erie canal enlargement and the
Black River and Genesee Valley canals from the
commencement to the present time 1t is as fol-
lows
RECEIVED.
From avails Of loans ........... SIS 34S $50 60
do. Erie and Champain canals tolls 23,036 ,259 10
do. Tolls on Il. X. and G. v. canals. 266 ,095 30
do. Interest on deposits. .......,. 299,O76 40
do. Miscellaneous ................ l3l ,2G6 80
Total ACKNOWLEDGEMENTS 39, 0SO,9 2s 81
PAID.
Principal of loans. ............... s3,95G,97S 80
Interest on ................. 9,477 ,G5G o.
do Revenue Certificates 2l,540 81
Surplus to i. and G. C............. 2i.294 As
/ Canal Commissioners 81 S45 La 81