The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-01-02

The balance CT l6, In the treasury belongs to
the Specific Funds and cannot be taken into the account
OF means to meet Of tho for the
rent ysar.
CANALS, rHna DKBrs RKvExuKs, ETC
1t Is source Of just pride the people OF the Stat
that their noble systsm Of internal improvements has
continued to yield an inersasng and to furnish
annually renewed evidences Of its enduring prosperity
wealth. notwishstsnding II has ensountsrsd obstacles
and hincrancss to an onward progress, from i'm
admitted now by al the true friends of the canals in
the State that the policy adopted In 1885, OF applying
their surplus revenues to the enlargement instead Of bor
rowing money, had been pursued IL would ut this day
have been completed, without the addition Of any nes
debt This sound principle abandoned in 1885 and
result that the canal debt which then az less than
COO after deducng the means on hand ap pcsbs
70 s ~ M sos n ,ss
PEOPLE asssint led In convention and framed constitu.
tcn which it was believed had provided ample remedy
OF the sound financial policy existing in 1886 II under
oek 20 furnish the 70 pay the large
proves certain, safe and economical anan ial scheme
Tor tie OF the greatly desired and nesoed
arsemsnt OF the eanAls The provisions OF the
ttuiion were regarded obs.acs way OF the
more speedy completion OF the work as demanded By
certain interests in the sate and in 1851 the LsgAturs
ysctd 10 tbe power Of this speedy salsrxement
feeling apo the law Of that year throst upon the
Isope with the stamp o. ts faoe
vas ss,iesen 9, rom the staas book By IN. dsbsrats
and Just coptemned By the people IL ~. mover re-
sareed BY the tue frisn<s Of the enlargement do
srg desIss object II has actually retarded that worh
al last three years. and is attempted execution In the
Awards OF ihs contracts has len sain upon the
honor OF the State Opposion to this law In no re-
Itct Justly to b regarded opposition 70 the policy OF
the enlargement IL was most itrsnuously opposed by
,oms Of the usst and most ardent rispds the canals
IN thM state They were s opponents, because they
gardad the preservation Of the oonsttuou and t safe
guards debt and TAXATION more valuable than
the speedy enlargement Of the canals In open violation
Of that instrument But happily for the people OF
the State and the interests oil that large eass Of oin
1ns. Who have looked for the adoption Of some
safe, Just and proper mode OF accom- plIshing ths
desired object. the p~rcsfd Constitutional amendment
u presented It's - III settle the policy of the
state, does not tls npIeton OF the sna, ge-
ment snd establishes nnancial principle OF great i'm
porsnce pledges the faith OF the State for she par
ntnt OF the debt to be created for the
Of The work instead Of relying solely upon the
revenues OF the canals Themselves This portant fa
tute OF the constitutional Amendment was secured by
he frienos OF sound financial policy after severe
strp gle aid constituted she only around OF
yeTy In ts passage through the Legislature Its mpor
tapce 10 u best inerest Of the state will be ,psent
the increased value obtained for the stocks sued the
eaus TO De made under the constitutional amend
ana - aso exhibited In the following ssem mt of the
revenues 40 of the canals for the year ending the
September lat IL shows that tho actual recsots for
TIE hscsi year ending 10th September 1881 from ell the
iGSSlS 81
'1a Pa'"SAa Af'.. l09517j %
Issving the surplus rsvsnue a. VI 4. 07o a., "a
f,om shich AZ. deduct,d tbs Am cunts set spart
~ hseon~NoAen. ........,............. 1884, 900 %
Leaving the rsmAadsr Of ths rsvssuss A. Scso0ss %
"a iaA rsnaAindsr Of rsvsaas which soasttutss tbs
oas bAss Y sspssitafs fss tbs sniscgsusa. Of tss