The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-15

tolls gwen away In 1851, would - - ~
bu,tiui 10 trsa. en- a -le'oe sss a.. $50 " "
cssso oI c,,suios IN ,oop, zoe IRA sP0fs' o.
uerCns rome ard property % ~"set no Nm. a.. q
n the question eoonnod "a an YesA s ="
Isa7 sos tho re.mp orsbe restr'ogN upon VI
Js,iroso &C mpabt wbic1 we're Ia icroe 40 y 80 o.
was sssed tbore meb, % some srouoas for s<
an syg upeDt but ma, l. not o"S the quecnou 49,,
poeea Of Il s nor les tban tnts Witt n sn"
10 RI deem Us obligations resort TO ne capacity VI
come Of the CO, ais enable II 10 sntsio it's ho.
com uApdpg pOtiiioo viii Il Oripp tho Cap w
public works. by rendering 60 CORPORATIONS, wn,G ~
but the creatures OF ia wi, the poger %
much OF the log trade a. sot or pleasure
purpose 'pereoy rom toss OF rsvs0ue be psl I'd
10 round Auo levy TAX upon so ope 90 repeuish
exhausted trea ury aht nae 10 psr0rm
duty 10 the public oredt0rsS
TIE culi.r CONSTITUTIONS resytouous imoosed UPON
the LEGISLATURE In resp ct 10 finance aud tn creation NJ
debt may st III es embsrIasnen,s Gnicn din
cult 10 De uped, and tuose barsass nepts are
very much o. sravated by bOa adhe epce 20 settled
i'm" OF po,cy ubt some reliable results a.ceslaed
The suhclency OF Toe eseut osbai revenues 60 pay
the debt 700 charged ppol taem. and to N set ooer
cnas es shcb have oeeo and mus oe 'ucur,ed whether
tue public works rfeeStd tn snnpet'on lr
susUeI eed is qu az probiems most any otner
dep Ddirg on future s0usiUn
The dVerson OF haoe 10 other channels Of o'mm mt
eaton pet ween be points ~ production AMI trKe t1e
thsIees In the lines cf transit and toe opeoiug OF aeE
ms kets may In tno perio OF ten yeas, besr Sd 40
veIely upon canal traffic reiuGe tns tpils
nom nal rneu toe neg station OF a loan upoa
be Gre OF OF the sinking fuud 10 supp re deheacy OF
revenue to pay interest ~ nos DO odui OF easy soc IN
pishmsnt. And lbese Quitsble i,red by toe
obettuop 10 be imposed W supp0t the credit OF tbese
sinking funds, will be- cousidt red nv those WOO
GATED upon 10 Jay them ~ tie insquitabie
II 10 difficult t1e jus,ice or tue right or even the
oxpedtsocy, OF oaoiD1 poaterity with dent OF
own creAuoo, when the b. age We give shcn therefor
10 poor, old worn out and oispdst caas, woose 10
Come nom year 10 year We bsve handed over 20 the
pockets of private individual. instead OF applying 10
The pay ment of 'hts Unbeatable public debt
That The AUci0r nay rot be misunderstood or m,sre
preee 10 reference to euh CT wilton loted
he above REMARKS no desires 70 say mat he has not
ana had damn NJ "a nil tv nj Inc
Tails OF tho State keep themselves Ia repair pay the
Interest the debt incurred tor their ooastr and
ultimately 70 quidste tne principal Of the oebt they
Rave What the original proa torn aud tie people OF
the STATE de- they thou have the benefits ar sing
rom the csry trade sops toe lines OF tier Toe oa
states, s1oro,rg, as u WAS eSpeossd they would, tho
cheapest facilities for Transmission Of property market
II the owners and shippers Of the marketable produce
OF the country afford TO pay fty par cent for
tram mission By railway That Uy canals in oouse
Quence Of the difference In time and the certsuy Of
reaching market when prices tdctoata, should be
,ered thai the slate has created tnoes railroad Ia
81 ues, alone oy the exertop of its s0versa
calling those corporations in exsten but toe grant
Of three millions Of dollars the loan OF w
dit In seversi Others amounting . six hunared thou
sGpd dollars, without whch those railroads would not
have beeo completed at the time thew we're
these considerations are not sufficient TO euaSe the
stste TO ipierpoee tucsers'ul claim against being de-
rved OF the full income OF her can ss may sao not DE
allowed TO cay that the compesoa OF the Erie o. ia In
$40 opened the faciMie for planting empire at the
West " bCh compares avoraoiy In popnlst on and
production with the ola thirteen states In i77i tuat
Tho develops meas Of production una trade consequent
Upon the uciion Of tue canals brnge 10 tue
rail- traffic. the ann ual rsceDts from which Tar
coed the orig Le co.t Of the Il lie cansH
II the inpo,irou o. tolls freight cpnvevei by rail
elsins upob tho tr s-ury, t1en should not be Done
But If 1t appears tba, ny railway versiou aud oonpeu
on the tssoe and ttS11 the canals il seriously
IR red, and the diminished sni div ersd
10 be ic to satisfy tho annual charges upon
hem sueh an exg,ney must justly fully the scs OF re-
In considering tbl, question: ,hould lay entrey out
Of view the annual sskIg FuGd OF ZOO Geo wnisn ths
Sae receives end DRIP SO Of as uustee FOR u ored
cre al wbieh only he applied the hi cts OF the
tust. IL IL unsvsi Hble ior any other purpo'e The
same rus may De mae 10 regard 20 the $4,000
annual coLirbuuon TO the sinking fluid O, the General
fUDd dett
In ths view OF the question IL financial fal,sy TO
-ey there tts ae not wanted 70 paS tie interest GA the
nsv otoI o. slI Coz, o. whe she present ceacieocy
coStiuues ibis process o. borrcsng money 70 pay the
annual Interest viii iIcrea'e that dept about siOO0 600
BY Tire Hrtt OF Jan isry 1874 The boon OF lne
ioah bag sbsn not be tos nCr reached.
The Csnss aDo railroads of tire State may be PARTS OF
sipele syr,en OF internal improvements. bNS Il or no
ioio~s tnst When there Ia anasoolOm vi lsereH
between dieeni lines OF 'Groni, there can be eo1e DO
seen the canals ana railroads, especially whoa tac nss
arc ell con pcung
The relative rights end interest OF oil ,he parties
cerped ~ them most se exsmiued au,ted and dispose
o. the best increes OF tue wnoe state, and no, Of
particular cass OF rerots may eeem 20 r,qu re- IL
could not bsSe btn the ocJsc ,oe protectors OF or
canals that toe OF their should oo theovo
40 bUrtbop upoo abe puoio % oe fensVod oy 40 80.
puai tax ~Lie who In vested capital 10 railroads.
With b view 70 profitable return. were mainly recon
ptnsco by comp ting with toe : sie for the egtmAt
trade and commerce Of the canals.
RsDENrriuS or STDCHs
Document No Ell Is statement OF the amount and do
sopon OF canal stocks purchased and cancelled during
the Local scar OF whom purchased and the date OF tho
redemption
The sltula,on shows that s2i30s3 80 OF the per
rents sno ssCc zoo OF the per Of 1863 70 sup
ply deficiencies have been cancelled that - s74 2sS 90
OF Fro canal enlArgem ut per cenu redse msoe sner
1860; S2sJ 30 of per canal certificates o.,
SOL. ana So 30 CT IKE cerydcstss rcmourssbo In
1890, have aso been purchased and cancelled MAKING
total OF four millions four hundred dignity niae
ssid two hundred and sxy six dou.re ana thirty four
ccsts (tiSee 26e az.
The the liquidation Of those stocks OBJ
tapsd by the neeotsu,o OF loans me credit Of
the sn<ng iunds as espinoet IN tue preceding tables
TsyaiUNs
rhe premiums received ami paid into the treasury on
loans since the LIST OF January, 1854,