New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-06-14
Doing. Of the Conference COmmi.tee-POints Yielded

ApeSQ D.
| ALBANY, Monday, June 49, 4P. NJ
Your Legislative reports in detail will inform your tn
| Dir. LOOMS Chairman Of the Conference Committee on
the part Of the House. reported today the plan for
pleting the Canals, agreed on in Joint Committee
The essential points yielded by the House Committee are
amount to be expended per year and change Of time
rom six years to four. which matter of expediency
The main points yielded by the Senate Committee are
the reputation Of the Of 1851 and the giving up
Of the clause prohibiting taxation in Of failure of reve
nues All the guarantees Of the Constitution preserved
II understood that in this Conference the appropriation
by the Senate for the Genesee Valley and other lateral
Canals wasinssted upon by members of the House Com
mittee Mr. CHAMPLIS for the Gehesee Valley and Mr.
WEsT for the Black River Canals making strong points in
this particular.
1t is said the appropriations for the fiscal year will no
be Immediately passed by the Senate this being an nJr.
NAL arrangement
Below you will find the plan agreed upon by both
Committees II to be reported this morning but both
Houses hn It was agreed to postpone the presen
tation Yours, KsoP.
Resolred, Gf the Senate cOncur) That the following
amendment the Constitution of tho State be- prop )sed
and referred TO the Legislature to be chosen at the
general election OF Senator'S and be published for three
months previous to making SUCH choice in pursuance of
the provisions of the first section of the thirteenth article
of sale Constitution. Substitute for section three of ar
Gle seven the following;
Ater paying the said expenses of collection superinend
snce and ordinary repairs of the Canals and the
there Shall be appropriated and set apart in each fiscal
wear out the surplus of the Canals a sinking
fund Sufficient to pay the interest it falls due,
and extingSsh the principal within eighteen years, Of
any loan made under this sectOn and the said sinking
fund shall be sufficient to redeem any part Of tle
prncipal al the stipulated time Of payment pay any
part Of the OF such loans stipulated the
to satisfy any such deficiency shall be procured the
credit of tine said sinking fund After complying with the
fore gong provisions there shall be paid annually out Of
said into the Treasury of the State two hundred
thousand dollars to defray the necessary expenses Of gov
eminent The remainder shall Ia each fiscal year DO ap
piled to meet appropriations for the enlargement and
completion OF the Canais mentioned in this section untl
the said Canals shall be completed In each ic year
thereafter the remainder shall be disposed of in such manner
as the Legislature may direct but shall time be antc
pated or pledged than year in advance The
legsa shall during the nexfour yeas annually apprO-
pirate the enlargement of the Erie the Osweg, the Cay
uga and Seneca Canals and to the completion of the Black
River and Geneste Valley Canals and for the enlargement
Of the locks Of the Coampan Canal whenever from dap
daon decay sha be necessary TO rebuild them,
sum not exceeding S22S000O The remainder of the
revenues Of the Canals for the current fiscal year in which
such appropriation is made SHAH be applied 10 meet such
appropriation sEd the same shall be deemed insufficient
the Legislature shall al the SESSION provide for the de
f,iercV bv loan The Legislature shall also borrow
1900 dollars refund to the holders of the Canal
certificates issued under the prOyisicts of chapter
the laws Of the year ls5l the amount received into
the treasury thereon But interest 70 after July
J. 1853 shall be pad On such certificates The provisions
of section twelve OF This article requiring every Law for
borrowing money to be SUB ned TO the people SHAH not
aplv 10 the loans authorised by this section No part
Il the Of the Canals or OF the funds borrowed
under this seeon shall be- paid applied upon OF in
Quence If any alleged contract made under chapter
45 If the laws Of the year ls5l except to pay for work
zone or materials furnished pior TO the Isl day of June
The rates Of M persons aud property ported
OH the Canals shall not be reduced beOw those for the year
1852 except by the Canal Board with the concurrence Of
the Legislature All contracts for work mseri as
any Canal shall be made with the person who shall offer t.
provide the the lowest price with adequate
security for their performance
JOHN VANDERBILT,
T. W. BO1EKS Senate Confrrees.
A J. UPHAM,
L. LOOMS,
DE WITT &. WEST,
NIB CHAMrLAIN, Assembly Conferess
ALONLO CASE
WITT { IITTIEJOHN