New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-07-19

Dutlne66
larger than that Of the corresponding months OF ass
year, the completion Of the Ohio and Indiana hoad
having 30 largely added to its traffic as to require an
;v,oeJ,a,e increase of cars and engines. This will
.on be augmented by the opening Of the first divs-
iop Of the Fort Wayne and Chicago Road to Warsaw,
Ind IN A few mouths TO it's connection with the New
Albany and Salem Road, which gives over these
roads 9 railway communication between Pittsburgh
and Chicago. Probably no line in the West holds o
better promise OF future business-as it already 30
far as il is opened has earnings large any Other
line Of equal length.
The Journal Of Commerce asks in what journal was
advertised the place Of payment Of the Coupons OF the
City Of Wheeling and Washington County, Pa, al
luded to in this journal Of the 18th ins and adcS
that the advertisement not In the large COM
uercial sheets" We are always willing to enighten
the ignorance Of The Journal and therefore state
that the advertisement Of the Washington County
Coupons was published in THE TRIBUNE, Times,
Commercial l1pertiser and EpeniRg Post, and the
advertisement of the City of Wheeling in TaE
TarRuxy Times, Courier and Enquirer and COM
uereiol dSUertiser. These may not be among
the "arge commercial Sheets but In this progressive
age s not yrisng that financial advertisers dis
covered that journal with 80 900 daily circulation is
better for their purposes than Large commercial
sheets" with 1000 daily circulation.
The Albany correspondent of The Daily Times says:
The announcement in some Of the public papers that
the Commissioners of t1e Canal Fund have decided TO
make loan for the enlargement OF the State Ca
nas early In October was entirely unauthorized. NO
action Of any kind has been taken by them upon the
subject nor has any proposition connected with Il been
MADE at any meeting Of the Bosrd. The 1RIBusE,
observe in its commercial article takes the grouod
that the Board cannot make any Dew loan until the
expiration Of the present calendar year. and quotes 70
Ia Of IN liie
TIE TRIBUNE is in enor. The loan If made, will not
be made under the law cited, but under one passed at
the ast session Of the Legislature The last clause Oh
secton of the Canal Appropriation bill Chapter 52S,
Lsws Of 1855 contains the following very explicit pro-
vision on this subject
Tbe Commsqiors Of the Canal Fund shall borrow the
day Of October housasd eight hEndrd and re 70 pay
net sxeeedips in the whels 1wo million dred fifty
thousand do .y.be at such or time, they may pre-
rate exceeding six cent annu9 .bie
quarterly such days and such places the said Commits
sioners shan direct.D
This law fixes the date at which the next fiscal year
shall commence, and gives express authority TO the
Commissioners to make loan at any time after Sep
or not depends entirely upon their own conviction OF
i.s necessity and expedeDcy. They have as yet
neither taken any action nor expressed any opinion
upon this point.
TO the power Of the Commissioners Of the Canal
Fund.
BY the provisions of the amended Constitution,
which was finally adopted in February, 1854, the
Legislature were empowered annually during the
then next four years to appropriate to the enlarge
ment Of the canals sum not exceeding s2,250, 900.
Under this provision of the Constitution the Legs-
lature passed, April 1854 act appropriating and
Authofsing The Canal Commissioners TO make loan
of So ESQ 600 for enlargement, and on the same day
passed an act appropriatng for the fiscal year com.
mencng October J. 1884, the sum Of s2,25o,ooo.
On the 10th Of February, 1855, the Legislature
passed another act authorizing the Commissioners of
the Canal Fund to borrow for the purpose OF paying
the appropriation of the act of April 1884, ESQ OOo
On the l4th of April 1885, the Legislature again
passed act making appropriation for the fiscal
year commencing Oct l, 1855, and authorised loan
20 be made by the Canal Commissioners for the further
sum Of o., 25o,oOO
twill be seen that the amendment to the Consttu-
ton provides for the raising annually for the merit four
years after its adoption Of only the sum Of s2
The amendment to the Constitution was adopted in
Fobruary 1854. If this provision is to be construed
literally So 600 could not be raised until 1855, and
the like amount in 1856. If construed to take effect
from it's passage in 1853 by the first Legislature, then
the Legislature had the power to raise in 1854
g. $50 900, and the like amount in 1855. The sum
already raised by tn Canal Board is s4,5OO,ooO
The Legislature therefore, under either view, have
already rased and appropriated all that the amend
pent TO the Constitution authorized them to do for the
years 1854 and 1885, whether fiscal or otherwise.
Should any further loan be made by the Canal
Board during the year 1855 it would most clearly vo-
late the provisions Of the Constitution.
We are satisfactorily advised that the Canal Board
contemplate no such violation of the Constitution.
The business of the Clearinghouse to-day was
ti6, sss, coo.
The Committee on Assets and Liabilities Of the Cities
of Brooklyn and wliamsburgh and the town of Bush
wick on the LIST of January, 1885, report the following
a. the financial condition of the three places NOW con-
soldsted) at the above date:
Amount Of Assets Of Brooklyn se2 70
Debts fSSoio
Surplus debts, "
Amount Of Debts Of wniamsbursh. .SS2s,0s u
......................''ss..'s'''. $3.50 Ss
Detts Assets 10
Amount OF Assets Of Bushwek, ........... $3.50 81