The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-06


PROPOSITION OF SENATOR COOLEY TO AMEND THE
Observation-Disclosures OF THE SETTLEMENT OF
THE CANAL QUESTION, ETC.
SPECIAL CORRESPONDENCE OF THE NEW YORK HERALD
ALBANY, April 5-10P.M NJ.
The canal question finally settled in the Senate this
evening" at eight O'Clock by adopting the following which
was offered by Mr. Cooley substitute for Mr. Wander
bs original proposition to amend the constitution The
affirmative vote was 20, and the negative g.
Resolved, if the Assembly concur That the following
amenomens be proposed to the constitution of this State
that the same be referred to the Legislature to be chosen
three months previous to making such choice in confor
nifty with section Of article l3 of the ntitution:-
constitution and insert the following instead thereof
section 81 After paying the expenses of superintendent
and repairers Of the canals and the appropriated
the constitution there shall be paid out of the surplus
OF the canals to the Treas of this State on
the general fund.- such not exceeding 5000 600 as
may be required to deay the necessary expenses Of the
state and the remainder Of the revenues Of the canals
sna ee applied in such manner the Legislature shall
direct to the completing Of the Erie Canal enlarge
ment, and Of the Genesee Valley and Black River
Canal, and of the Cayuga and Seneca Canal
and to the repayment Of the moneys which have been re-
under cha 4s3 of the laws Of the year 1851 until the
said engagements shall have been completed and the
snS sas Sn thu nDs and the fully
be repaid; and when the said objects shall have been
accomplished the remainder of the canal revenues after
OF collection superintendance and re-
pairs shall be subject to appropriation for the
OF government and for any other purposes the Legs
iatuIe may direct; and the said enlargement Of
the said canals shall be completed, and the other
canals aforesaid shall be finished soon the
can oe accomplished by prudent and economical
apPeation OF the means hereby provided, without i'm
posing any direct tax for the same any other part
thereof for the purpose Of completing the said enlarge
and for repayng the said moneys received into the trea
Jury the means may be procured BY borrowing at the
ticabe period, sum not exceeding ten millions five
hundred thousand dollars In portions OF more than
two millions five hundred thousand dollars in any one
except that on the first there may be
an additional sum sufficient to repay the said
ceyed into the treasury, and the proceeds of all such
loans shall be sacredy and exclusively applied the
purposes herenbefore enumerated, and for which the
fund hereby created is pledged
In order to preclude any necessity for resort to
ton to pay the principal interest of the moneys SO
borrowed provision shall be made in every act directing
any oanIas herein authorized for the paynent Of the
principal and interest Of the moneys borrowed under
such act by setting apart and appropratng annually
much of the fund hereby created may necessary to
pay the said interest and much may be necessary
to create sinking fund for the redemption Of the said
principal at the stipulated time Of payment and il the
said fund shall at any time be insufficient to redeem any
rart of the said principal to pay any part the said
interest as stipulated the to satisfy the claims of
the lenders OF the sad moneys may be procured the
Tolls on persons and property, transported the
canals not less in the aggregate than those prescribed
by the Canal Board in the year 1882 shall continue to be
imposed, unless otherwise directed by the Legislature
until the principal and interest of the moneys bor
rowed shall be paid their payment adequately pro
yided for.
At twelve O'Clock oday the President announced the
Senate t, be In executive session. large pile Of papers
from the Governor laying before him He broke
the SEALS and the Clerk read the contents About
hundred OF appointments as notaries were read
and referred to committees. Robert W. Beech nom
mated for HeDgate Pilot and Darius A. Ogden, of Penn
Yam, for Canal Appraiser There confrmations,
though there disposition to them all through
The knowledge of open door session drew a very
crowded auditory. Mr.. Cooley behaved remarkably we
and moved to confirm all the notar les. This budget let's
into the secret to who is really at fault for retaining
wings in office. w.