New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-03-05

lows: - -
,pyaxcrs FROM THE GENERAL rusD TO rHE CANALS
Sst duties from 1917 TO leS5. ..sLo59fs Y,
VeBdue duty from 1917 to 1881: $1,000 %
Sisauhes from 1917 to lsz3............ 90 ~
Sales of land from iSx5 to 1859. lD3,Ioo IL
PAID by General Fund for DEFICIENCIES IN re- .,
venues of lateral canals from 1850 70 lsfL. les5S ss
Direct tax ISA and 1915. <'"'''' D
s1,4sl,sa n
Paid by Canal Fund to Genersl Fund, between
1851 sDd 20
6s5la2 Of
Interest compound annually at per s5e5is 90
sll.sls,s75 %
This, a. every fsir-mndcd man win allow. a
frnped up claim against the canal, made excuse
for demanding Reimbursement In the form OF lsrge APP
preparations Of Canal revenues TO pay the debts with
which the General Fund was loaded by failure OF the
railroad Companies 70 pay their indebtedness 10 the
s,Ee. On page No. 20 Of the Report the Controller
says -
Cbsmpan Canal Fund with only simple interest thereon al
5per cent given in table O. shows total OF
~ This alone entities the General Fund TO an annuity OF
s5s3 $50 ~ which only per cent On the total amount
The object OF this trumpet up debt to render the
canals odious-to load down The canal vita what was
claimed lie Indebtedness 10 the General Fand-to
make the people believe TINT the csnais instead OF
Welding revenue 70 the State, had not discharged
their obligations the State. Those who assumed this
position In the Convention were the men who only
looked upon the canss es useful In so far as they en-
Ichcd the General Fund and reduced taxation. Taey
had higher and nober purpose-ihe enrichment Of the
peope and the advancement Of the comm rcial suprcm
scy ard gery OF the state.
Wen sir let MS look this account current against
the Cunas NJ made out by Controller Fisgg. he finds
that the sst duties. from 1877 20 1875 amounted 70
e. 055 45e c. and that al this had been expended
upon the CaIss This he sets down as debt from the
Canals 10 the General Fund. This sum, he Insisted,
shoud be taken from the Canal Fund and pail into the
General Fund. before anything more should be ex'
pended upon the enlargement Of either the Erie or
Oswego Canals. This was process by which the mcn
Of II and IS we're to be compelled to pay obligation
twice over; for VIII dispute that nearly tue en-
tire othese ot duties had been paid into the Treasury
by the people Of the West who alec pay the great bulk
al the tolls upon tie Canal This the kind Of las
tice sought Ia be moied out TO the people Of the Wet
by the men with whom Gov Seymour now takcs sweet
counsel, and from among whom he has sell-consd-
,uled cabinet OF connselorsl
Next were the vendue duties from which 1882 0)9
o. had been received from IL TO SO also, the steam
boat duties, which amounted 10 s13JC9 W AM the
revenue derived from the sale Of the lands c,nrbg'sd
by hose op1oas for s prosecution Of the public works,
End donation for that express purpose, AID Wlch
amounted TO sl03755 Ia. Al those Items were set
down against the Canals, although they were contrib
uttd by tbose who pay the bulk OF the Canal Tolls tor
tie express purpore OF being expended upon the pablo
works.
But this IL not ell; it claimed that the Erie and
Chsmpain Canals responsible for the Deficiencies
in the revenues Of sll the lateral Canals Of the State
which amountcd II scema. 70 81 1876 iS5 e. Now,
would ssk gentlemen whether, when the Genesce Val
v,
We're undertake. en- the credit OF tho y1yis9 Canals
the Eric and Oswcgo-or the credit Of the stei Ga
the credit OF the state most assuredly No other posi-
ton would I've assumed. except iy those who were de-
,erlnDed that the paying Canals shall be no farther
prosecuted. When the "day OF reckoning" came, this
posiiion was assumed by those with whom Governor
Seymour is now in loving fellowship.
but why should the deficiencies OF these canals be
made charge upon the paying csnalst Their projec-
tors-these very men-knew when they were underfa-
ken that they would not when bui pay the expense oil
ttpfnV ak
upon the credit of the state, which, and not the paying
carss was responsible for their cost and their deien
ces Ii different doctrine Is admitted, the Ere Canal
might with equal Justice be held resp nsibe Tor the re-
payment of the three million loan 10 the New fsrk and
Eie Railroad for the loan 10 the Ithaca and Owogo,
and the Caiskill and Canajoharie Railroads Taose
debts just properly cbargea5e 10 the Ele CANA a.
the deficiencies OF the lateral canals
The lateral canals were to benefit the re
Ei,ns through which they pass They viii accomplish
The and develop vastly the and wealth OF
those regions have no fault to find with their con.
stiucon only claim thst they were undertaken and
built upon the credit of the SAFE and not upon the
credit OF he Erie canal and their Deficiencies should
not have been thrown upon that cansi-certainy no'
until Il was enlarged, and capable OF sustaining the
burthen . =,
he aggregate Of the items of indebtedness thus rolled
mn seans, the Eric Canal reached the enormous OF
Sa3si 222 OF. But this not deemed sufficiently
heavy bufhen 10 throw upon the Eric Canal Mr. Con-
troer Fags 70 calculated the interest upon
these several and this interest was to be added 10
SIS on What was the object Of all this, SIR Is any
gentleman AZ loss for answer IL not ss pslpable
AZ sunlight that II deliberate plan 10 close up, for
ever, all hope OF the complexion OF the projected en-
lareemeutt suppose Sir If Cor. Narcy's proposition
10 loan ten millions &C dollars to the state Banks had
been carried and the Banks had failed TO meet the loan
then that too, would have been charge upon the ca
l nails II would have been more unjus, than The
proposition 30 compel them 10 bquidate all the ens OF
/ Indebtedness 10 which have referred.
But Sir, lie, Us look h,tle further into the reid.
y .o.~l-
cally lsnded by the Governor Tnst system the
suit OF predetermined purpose of the enemies OF the
csns 10 proven. their enlargement Long anterior %
the Convention IL had been determined BY certain
,sss of men in this Sts,e that change shoud be made
In the financial and canal policy otthe State The policy
o allowing the people through their representatives 10
contract debts Was to be chsnged-wss 10 ne
have no fSnls ind with the os.ensihle motive tor this
Change nor yet wh that provision Of the Consultation
which requires shesubmson Of debt contrasting propo
si,ions to the people What ind faux with IA that ths
provision did not except the canals from is operson
did not leave 70 The representatives of tAepeope the de-
termination OF al questions relating 10 tae unhnshed
public works -
This in my opinion, should hsve been done. II the
Convention had allowed the Legislature to determine
whether money shoald should not be borrowed, 70
so on with what he'd been begun, should have been
/ conien, with the "well3eSncd and comprehensive
financial system" 70 which the Governor refers Ba.
this was not The policy Of these who controlled the
Convention. They wished % preclude. forever, the
possibility OF the enlargement Of the Erie and o.Neso
Csns's This was % the tre tue opinon OF az TIE N
tehscrs friends OF the Canals the West They saw
its effects, and predicted just the res2ts which hare
followed the adoption OF the financial policy OF "a In
1876 Convention wss held in Rochester. WHICH wac
s:tepdcd BY large rumbes N distinguished men Toe
lion. Ashley Sampson presided over the Convention;
William Peacock, vce-fresiient. e. X Smith, n. X.
Hail. Nsthsn Dayton and F. whsiesey were appointed
sCommasec 10 drsif memorial which. among other
wessss ONE truths, contained the following:
Whils osr pusse wexks have been suspended fer soa
ana bali yeAA We have pad about for the in
feivS Of SiScaee expended upon the improvements,
which ss anpredcc,e, because they unfinished; esh.
yesu more vii make that Interest Hnesns to sle
The exyerdture d aaf eur canals would secure sn
additional reyezns which in w years woald exceed ,he
interest The whole t.acco; and which q vcur rne
nOria believe with tie ssdnea Of the preseot rsvea.
next eniy yeAs aa1 ~ sEassiy yvsessj 10 is<r,
article car Sfsss casss.ssfsa sppvspssss ~ pSos
,erenr, Of o4y sez9s 70 the en- prs~us nfs
ss%Sss h. snaslsr sslss b srsaSa ,ez.s -. - -
rasposs If ,xfro~s ~ pvcpsvy AssSss Sswsis 70 ~
Sae unie snthorxed BY pseersrsed prsces u aoahle