The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-05

Amount Of warrants cancelled lt6 81
Amount Of warrants drawn
the treasury remaining
unpaid on the Both Septen.
Der leeZ................ zSs oo
- 81 1853 ATT 90
Deficiency Of revenue the both Sept 1852 sl8s SO
During tho part fiscal year the payments from tho
General Pund have exceeded the receipts $204Oi0 10
In be annual report submitted from this ONCE In 1851
BY Comptroller Hunt 1t app that there was surplus
close Of the tsca year 1852 and that the surplus the
seth September ls4s was Sl3 27s a. thosing that Tor
the FISCAL year ending 3Oth September 1850 the expend
lures had exceeded the income by the sum Of $751;
767 o. In reference to tho CONDITION OF this general
ard up to that tine the Comptroller remarks that
he continues entertain the opinion expressed to the
the General Fund cons itutsd will prove rum
Client to provide fer al legitimate expenses Of govern
ment without resort to further loans or increased tax
a,ion /"
The exhibition inside by the preceding statement Of the
present CONDITION Of the General Fund does not show
that the opinion then expressed In reference to the
ability Of this fund to meet the ordinary demands upon
H. was well founded 1t was a. that moment giving evi
denoe Of tn gradual Of decline which its present
crippled condition exhibits In that year Its receipts had
fallen below Its expenditures SIS 7s7 "a.
that there was deficiency in revenue n tho fund on the
Stth Sept 1851 Of 1857 A. and this year shows the
largely increased deficiency Of slsS 4s IS and this sum-
with the balance In the treasury the 30th Sept 1851
that the pay tho last fiscal year exceeded
general fund to the other funds belonging to State
and tho money taken from the treasury the wants
whether it Is proper to pay money the ordinary
expenses Of which strictly speaking belongs
to Of the specific funds but tho practice has prevail
ed itpg Of using money In the trea 70 meet
the msnds Of the public creditors that it is very
difficult II not sltcse,her mprscticabe to change It,
Bu Comptroller feels constrained to FAY in view Of
the present condition Of the general fund that rigid
economy in the public expenditures and great wstchfu
the part Of the Legislature TO tbs extent and
its Ia
treasury TO sustain itself for the future.
The ordinary Of revenue to meet the demands
upon the general fund reasonably certain to
amount They derived nom tho State tax, suction
and salt duties the annual contribution Of 5000 600 from
the canal arrears OF taxes sales OF lands pod
e licences and fees Of the teveral offices. II Ii not
safe to siimate the amount Of beyond $500 900
estimated cccips made by the Comptroller for . series
fyesrs wiz show that 1t has been placed considerably
In 1s4e the estimate ws. 500 %
1850 ......"........... 90 2o0 90
rhs .st.,. q, N. csnt c: v.,, i, Ssy 80
(sse statement Of the estimated revenue page but
from this must be deducted tho charges for expenses
Of the 0nondaga salt springs estina.ed It S5 0o0 and
the estmsted receip from auction duty Wig $4,000
probably too high In view Of the present condition OF
year cannot advise the Legislature 70 adopt basis
OF expenditure and appropriation beyond $780, GOO for
this year An expenditure Of this sun cannot properly
be made the II gislaturs sha with the Comp
tIoer In the opinion that it right and just that the
general fuId hord reimburse to the specific funds the
VI government instead Of safer ing the Indebtedness
CT tho fund the specific funds to increase from
year year under the present system Of keeping upon
the books Of this cce separate accounts with each Of
the funds Of the State snd bavDg but treasury into
which all the money Received by tho State deposited,
without reference to the fund 10 which it belongs
The operation Of this stem a. the close OF the Is
this that the Comptroller and Treasurer have assented
TO the payment Of money which legally belongs the
school other trust fund Of the State fer salaries
public officers appropriations for hospitals roads
expenses Of Travelling commissioner created by rosolu-
Of hq Af
dilute which enthusiastically. or legally could only GO
pac from tbs general fu I'D revenue and ~bich would not
be paid IL could be known nj tho treasury when the
belor cling the general fupd exhaused and that
the money remaining in the treasury belonged exclusive
ana the Comptroller IS not until the
written the close Of each hsca year that be has
yi0sted law BY u'ing morey for expenses Of the 60
which saciedy belongs TO other fund.- created
and set spsrt by the constitution and laws fo- specific
purposes The Comptroller ren.ws the suggestion made
heretofore in this report II msktg every appropriation
Of money specifically payable from specific fund IS
zee advance towards reform Of tots difficulty and thus
approximate somewhat the object to accomplished
OF ensbrg the Disturbing officer know what charges
are made against each fund he pays the warrants at
Ak The attention Of the Legislature to some extrsor
dinary charges made upon the Of the General
sund growing out Of loans made under the authority Of
chap ara laws Of 1919 entitled act TO provide for
repairs and Improvements of tho esn.s;"
and chap sol laws Of ls6l entitled act TO provide
BY virtue the fret Law. the Of $4,000 bor
roSd and applied 70 various objects connected with
ordinary ard eItraordrary repairs OF the canals BY
VII tue Of the last law the OF 100000 borrowed
IN December Of last yser upon witch premium Of nine
per cent WAS obtained and further rum OF $500 900 was
to be borrowed In 1862 and both to b. applied
brt to the enlsJ cement Of the lcsh OF The 0svego
eara snd any srpus beyond the contract price for en-
lraiIg the locks 10 be applied yards the enlarge
ReDt q the 0tweeo canal. The first Law made pro-
vron for pay OF tbe interest but psd cut Of
the premiums received upon the loan, until last year,
when the Legislaure paced Law spproprAting Soas 10
10 the deficiency Of interest advanced from n. CANAL
Fund this Loan and also 50 900 Ia snch OF ths years
1851 and 1852 10 tho interest for thosc years Tes
money was taken from The general fund 10 PAY interest
on loan made eIpretly for repairs snd improvement OF
ths oarss II is for the Legislature to wheh any
further appropriation Fl om this fund should be msis
fsE this purpose,
The as Of 1851 to enlarge tho locks Of the 0swego
ra also the canal Itself charges the Interest after
FIR Supplying the premiums received Tor the lean TO ~
ana the principal debt upon the general fuod
Win provision however thai both fhnl DE npsd from
the earsl revenues Whenever the exiting o1nslitd
HoDs chars thereon are folly discns ged aud ser
s and entire application OF The camel reyr nos has been
made under the tquifemsnt OF the 81 nsuuon 10 the
pleon Of the Ele Canal eblerxeaiebt snd 81 the
SeD-ffe valley and Black River canals" rbi- result
ernot bspren under the confututon ontil 1885, AMI
In TIRE in- the general fund must pay the annual
ipt.reft The prt niuns received $4,000 and the
inteyett S Sif eco gnnum. Two THIRDS Of tbs prs
MUM Is slesdy exhausted by pa ment Of toe yesrs in
tre't one tbR month pIovbion must be - ne BY this
Legislature ttt bo deficiency Of In crest for the
yVar after applying me 50 COO 81 premiums hand
ppf m appropriation Of 5000 10 necessary FOR ttis pus
poe.
While the Comptroller entertsns NO doubt that the
1--we Authorizing tness loans upsutho-ized ~ the
tesb nct.n Of the fevsbth ayioe If tha c3ps.uton,
tsraTs they not debts orpsyed 10 casual de-
1ct or inrsf 81 revenue or for EXPENSE not provdd
FOR not sub0ited TO the psopls by virtue u
Lse tssfth fse'iou the o. hts be paid aud
seios DDst be- made to meet the Interest. II Is however
dicult 10 pndssiaBd upon what principle Of RICH; the
psJpsnt 81 etftr priaepa intere.t of tDess loans
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