The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-24
OUR BANKS AND CANAIs-ILLEoA. ExpENpr-

on the subject Of our canal expenditures. which
will unquestionably commend itself to the care
ful consideration of the public, who have to
foot the bills. With reference to the banks. the
committee present a rather satisfactory exhibit,
in figures and they close this branch Of their
labors with these consoling remarks, to wit =
"while your committee are convinced from careful
examination that the billholders are in most az not an
well protected by the securities held by the
superintendent Of the Banking Department they cannot
close this portion of their report without expressing the
may be pledged is wse and cannot be increased without
serious risk especially would they deem it very I'M
safe should the door be opened for the reception OF rail-
road or city stocks as basis of circulation"
With regard to the canal funds. it appears
that among the questionable expenditures Of
money was the order Of the Canal Board, pay
ing the sum of $4,452 on the claims growing
out Of John McCaughlin's contract, after de-
cision, nearly year before, settling and paying
his claims. These expenses rise to $4,000 more,
and there was an order entered to pay all
just claims against the estate Of said contrac-
tor. The object of the order doubtless was to
raw workmen, &C., but it amounted to letter
Of administration which the committee say. the
Board had no right to give, nor the Auditor to
recognize"
The committee make out particular charge
ofillegality in the expenditures for the Albany
canal basin. After presenting sundry small
items. not exactly according to law. they say
further examination Of the books in the Auditors
Department disclosed to the committee an aggregate ex
pendture in excavang said basn in the years 1850 and
1851 Of nearly $50, Co., all of which, near as your
committee could ascertain, charged ordinary re
pairs Of the Erie canal except the sum OF 10 paid
by N:J.I Beach, Canal Commissioner on contract with
Folsom Payne, dated Oct ", 1S49 as enlargement Of
the Erie canal"
These discoveries induced your committee to pursue
their Investigations in regard to any other expenses and
transactions involved in this work during the past fiscal
year being quite convinced that just Interpretation of
written language or law could make the work az ordinary
repair but the contrary that the expenditure OF the
money had been made by invasion Of the requirements
of the canal laws. already cited this report and without
any legal justification.
The necessary vouchers to this Indictment
are produced, and then the committee proceed
to ferret out various little unauthorized items
Of mileage on the part Of our canal officials,
extracted from the State treasury. David Bar
rett Superintendent Of Repairs, is also charged
with unwarrantable extravaganza in the pur-
chase, for the use Of the commonwealth, Of an
old scow boat, four years old, for the sum of
$500, "being price far beyond that at which
new boats Of the same description have been
furnished"
We presume the Legislature, after this er-
pose, will let the matter drop. We may con-
graduate ourselves in getting off so we'll. The
discoveries made are something Of a mares
nest; for, however ordinary or extraordinary,
as far as the facts appear the expenditures for
the Albany Canal Basin were faithfully applied
to its Improvement. The report wears the
complexion of humbug. But if there is any
real corruption in the business do let US have
it. That's all
COMMENCEMENT OF Our MONUMENTAL Era
1t is gratifying to observe in various quarters
throughout the country. indications of an in
cipient and growing taste for works of art, and
particularly for those productions of the sculp-
tors chisel designed to commemorate private
virtues or public worth. The Senate Of the
United States has recently made an appro-
priation of twenty thousand dollars, to remu-
nerate the artist who has just installed at
Washington bronze equestrian statue OF
General Jackson, although the work originated
in fund collected for the purpose, by private
subscription. But Congress has done more;
it has passed bill during the week, appro-
priatng a sum OF fifty thousand dollars for a
similar equestrian statue Of George Washington,
which is also destined to cmbellish the Capitol
Of the republic. Thus the representatives of
the nation respond to the popular sentiment,
which demands that a stop be put to the COM
plant which has been hitherto made-not
without cause-against this republic, that it
was ungrateful to its eminent heroes, states
men, and orators.
Boston is also preparing to strengthen its
title to the fattering cognomen which its
numerous literary men have acquired for the
modern Athens. Bunker's hill monument
stands as memorial of the glorious deeds of
our revolutionary sires who fell on that Mara
thon Of the New World; and now measures are
being taken to raise monument there worthy
of the greatness of Daniel Webster, and to mark
in all succeeding ages the generation in which
the great New England statesman was held by
his fellow citizens. Baltimore, and Concord,
and Lexington have all their revolutionary
mementos, and even the young cities Of the
West are beginning to exhibit a laudable spirit
to commemorate their distinguished public mel.
From these indications, we may reasonably
mbibe the conviction that new Augustan era
is about to be initiated on this continent. Within
three-quarters of century, we have outstripped
all other people in our physical progress, and
within the complement of that cycle we may
also show ourselves able rivals of the Old World
in all those arts which tend tn embellisb and
beautify human existence, and to transmit to
succeeding ages the fame of Americas distin-
guished sons.
But hitherto the commercial metropolis Of
this republic has not taken such position in re-
gard to monumental erections as her greatness
and importance should impose upon her. Our
squares and packs are devoid of any OF those