The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-04-05

EaoM orr coasfRcIAL coaKEsPosDEsr.


Nav YoAx, April ,. Is5s-
Ths New York eAnAls have bssn fruitful a
enfon and party management and d0ube-s vii coniinas
70 BE- long heJ the property Of the State II
evident that and constitutional keep
the long fingers the Scssrd wings II the public
ary prevent them from supplying bsHndess by
public deycfan The history u tbe canals well known.
The original Erie canal built Tor g. zoe 0O0 long
paid oH The gave large surplus which il was
democratic policy appropriate the gradual enlarge
% she canal Aier devotng enough the economical
expenses u the government u has been elaay shown
repeated 0crAn1 thai had this plan been the
would years have enlarged % that lake
shipping could pass without detenfon With the as
tendency Of the Seward inares policy Of enarging
upon credit gansd ground. seward himself was
Of the ChAutanque land secaors interests we're
70 De promoted BY the construction ~ the Erie railroad The
State that time contained numbeesf projects which we're
a 70 be constructed by State aid The canal enlargement
involved the expenditure Of Sis along line Other
sections 70 be benefited BY lateral canal expenditure
and still others BY railroad loans, ard others again by
banks The canal enlargement the Nucleus and an
interests combined in stnpendoas scheme which
presented itself % the egatare In aggregate claims Of
S99,O 900 Of this $40 00o 600 actually spent mp
on the canals and about IS 900 upon rairoad the
remainder being poroned according 10 canrnc
when reyuun came and State aFerted only bv
the expulsion n the Sewardtes and the passage the
Of lSsz which stopped All expenditure the public works
and Imposed the deficit in revenues This policy
Incorporated into the constitution Of ls4s Stale
continued flourish The constitution pro-
ydsd that nfter the canals had paid their epenses and
certain FOR State expenses enough should annually
set aside out o. the remainder form sinking fund the
exnushment Of the State debt In twunfs years. and
that debt should be contracted henceorh purpose
The first thing done BY the Sewardtes restored to
10 contract debt OF ~ 600 900 the credit
the annually apart from the tolls The bonds
issued bat the papabls HegaIty Of the compelled
alteration OF the constitution iegnlize This was
ecsed through the most solemn that
Of COG 600 would be enough to complete the canals Mem
time the railroads have greatly increased business
this year, owing to the short crops Of grain tolls
have declined. Mr. Seward being reelected the United
Senate the officer So more
for the canal enlargement and demands railroads
required pay canal tolls upon freight This require
based upon the allegation that the railroads the
canal trade when is clearly evident that had the
supplies Of grain existed the tolls. instead Of being less
would have been $500, 900 than last year.
probable that this proposition viii be pressed rail-
road interest but the additional SO goo viii borrowed
the constitutional alteration be made The
81 900 already obtained has erected large
favor Of the borrowers to be successfully resisted The
bankers under the law also enlisted
sock since they required deposites for circulation
There already be disposition the
ton of banks well in this State at the West In
Indiana, the general banking law has caused a..
and for the stocks Of that State banking purposes
several banks have been started View York TIE
Of resumption enterprise ndues preg
for the extended demand for money that NAV r0w
out Of them The abroad seem to have much
The tonnage France and Great
Britain for the Last years has been follows:
f,f.aiR sat