The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-22

cable to the service Of 1866 .2o5s 77 20
the sum Of $225 $40 80 never came into the
hands d the present Treasurer-being retain
cd by the late Treasurer - paid for ex-
change. or having been placed BY hin with
dep0eitaries who have used the money and
have hitherto failed to restore 1t TO the Trea-
sury. There should, therefore, be deducted
from the above apparent balance, the further
showing, Instead Of IA balance Of ;sas35o s..
Actual deficit Of available means, IS a -
charge upon the revenues Of 1866, Off,. 1882 10
The facts exhibit in clear light the importance
of guarding against expenditures beyond appropria
tiOBs.
Here is small matter of eight hundred thousand
dolars-wbich the people supposed they had away
in their pockets the 18th day of November, 1856
disappeared forever into the air. What has be-
come of it? Half million of it, as the Governor
shows, was never there. Ii was money which on
that day should have been paid for the debts OF the
State outstanding. The officers of the State had
got the State into the habit of living from hand to
mouth, taking credit and giving credit after the
fashion of many individuals. But there is still
large amount unaccounted for-where is that? The
story is now out, and maylas well be told plainly.
The sum OF s225 900 never came to the hands of the
present Treasurer but was, says the Governor, ere
tanned by the late Treasurer as paid for exchange,
money and have Tailed to restore it to the treasury.
This is the old story Of defalcation. The public has
lost. the money, and there is an end of It,
Mr. Breslin, the former treasurer, is no longer in
he is not the less accountable for this act He had
right TO place the public moneys where they
In the slightest DANGER or to receive anything On his
own account for their use.
One practice, heretofore quite common among
public officers, Is to place the public money de-
post, where the use of it will ensure 10 him some
benefit Sometimes this is done on political and
souetimes On personal grounds. The manner in
which this two hundred thousand dollars was lost,
understood last winter to be by depsstng it with
certain banks and individuals for political consdera
tons. good deal Of these transactions is well
known to persons here, but the party and the party
ganesters who the chief actors are 70 enectu.
ally wrecked that 1t is not worth while to revive
expose their sins.
The actual expenditures of the State, in the two
last financial year, stood thus:-
In .>J,j7O,25j
IN lSJJ-o.. J,isS,o"o
Reduction. ssso,655
The tota amount Of taxation for the state, county
city, township and all other purposes in the last two
years, was as ioDows:-
In lsjt-5. .ss,9j4 5ll
In lS55-6.. ......................... 5000 us
Reduction. Observation-Disclosures. 1854 99S
II Is certainly pleasant to know that the enormous
taxation In this State rs beginning TO be reduced,
and It is equally pleasant to know that it is reduced
In this county.
On The superstition that the State contains 800 600
inhabitants, the amount of taxation is So 80 per
hesd. The school tax amounts to 60 cents per head
and the State tax TO double that. The support OF
the poor, which is divided between the counties and
townships, amounts TO $500, 900 per annum.
One 81 the curosites OF the State finances is the
sinking fund. This is one Of the gnary things
like the Flying Dutchman-that when you seek you
never find. II any one ever finds the sinking fund
we hope he will put IL In the museum. IL will be the
first sinking fund ever found. Some Of railroad
companies occasionally institute sinking fund, but
no bondhoder was ever entirely innocent as 70
look for it. The real meaning Of a sinking fund we
suppose 10 be "a fund that sinks" In the case G.
the State, sinking fund was constituted by law
several years since; hut whenever the sinking fund
had msney, and the treasury was "hard up" the
Legislature very kindly appropriated the sinking
fund 10 the use Of the treasury. We cannot gather
from the Governors message that the sinking fund
y any thing more than the ghost OF sperstitioas
being under that name.
The State, however, ougbt ~ have sinking
fund, which has real, positive existence. There Is
one way, aud only one way, 10 obtain this end The
Legislature shonld put the money OF the sinking
fund in the hanss Of entirely separate officers who
have connection with the state government, and
should be charged with receiving and keeping in
safe repositories the money act aside for this pur
pose. 10 u very important, IL mean 70 pay the
State debt, and maintain (as we have done) high
character for stability and integrity, tia. this should
be done.
The review of the entire condition Of the State
proves, that a. community, we are highly pros
Porous. The State is rich, in both wealth and the
materials OF wealth. But IL we mean 20 grow popu-
ous, we must seek 10 improve our agriculture and
dcvelopc our mines IL is labor applied 10 the soil
which Is the great source Of wealth, growth and
prpsngritv