The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-26
The Erie Canal Enlargement,
{" os~eFo Canal Enlargement,
L" Genesee Valley CsIAl,

been ~ fouowu The relieving would nave been co n
The Erie Canal Enlargement,
" Os~eeo Canal EuArEcmsnt,
% Genesee Valley CsrA,
" B.ack River Cana
thus We see mat by faithfully aiherng 10 tue policy
marked by Gov noucE and bis sssoc.a n 1885
Of Spending only ne, proceeds Of tolls ruph
work. while he Erie osnal enlargement al. nc, ngnt
have been completed 10 1851 sl cost o. sac =.
the present unnnYbed woras, and the enlargement the
Oswego canal In addition could have been completed 81
cost Of $50 900 In the 1885, 81 44 3o the whole
surplus OF say o. 600 oco oni Oh the expenses OF Toe
canals would N discretion OF the Safe have ally
public charity internal IMPROVEMENT ~, in ner mucin-
cenoe should be considered best 'move OF tue welfare
OF the people"
Now let me occupy your time for . momsu, or 'vo IN
telling you what Governor SesArd said when The de-
mocracy handed the safe ever 70 him rnese arc his
"Hslory u-nshos parallel 70 the nnaao al sshievc.
OF this stac surrendered iu snare In the matt nal
domain, and renquiAhed FOR me senor. welfare al me
revenue or s foreign commerce. equs generally 10 Two
thirds the entire cxp nture u Inc federal goyenmsni
II has, neverheess sasa ned the expcnse Of " Own I'd
ministrslon. founeed shd endowed broad System OF
educatou charitable institutions for every osss OF the
unfortunate, ami . peni euiiary Establishment which -
four fold ihs wealth Of is eizcns and relieved them from
direct taxation, and In addition 70 ali ths has carried for
ward uipendous enter rise OF improvene ali The
while dminishlng is eebt, magrfsng ~ creit and aug
meuiir 4 10 resources "
ms Was the stslemen, Of Gov seward 10 reference 10
the condition Of the sae In 1888, when he TOOK casrse n
A. And the message which he delivered Jxnaary l. 1889,
contains the folio sing rbuN 70 the admirable vGzng of
democratic principles In matters Q, finance =
cine treasury q full, and needs no repeushine; ard
ample means are provided FOR meeting the future ener'
eencies OF the state"
position thr The state canas prcoeriy t1si
would debt Of SO 900 600 He vet 70 so'k 70 run
up hh $40 coo Geo debt He SAD ,here three yes snd
OF coo 600 Instead Of q 900 900 He Increased sne ebt
q; the rate Of $4,000 200 yer By direct o.u' snd the
difference thai and 81 900 900 BY loans 10 cDspo
rAtons and various railroads. tabular state men; or
these faoa would sno~ the following rssclu
"Gcv. se~A<c's sdninist s,!sn pred In lss7, when
bis whole s.heme broke down By ,nc sl,re toe State
credit but in TIE yesrs OF this De~ o.. me following sum'
ISIS ........... s4sso,7e lsai........... % eert
1889 ........... 2i3a,lss lsl2 .,........ 3,sltiG
lslo. .......... s,4g2sr
rher. vss loaned 70 corporations during ms ams
New York and Erie RsDr ,ad. 50 ooo,oo0
cashil and Guam lsn''......'...''.'..'''. zoooso
%B,.Scse means he STATE deb, v run 70 i27 s cs5
during these fur disastrous years and ths MEASURE ofs
forty million deb, would have attained II the safe
had BY the extension q o creah become unable 20
borrov.n
he ran the sse STOCK down 20 that ak per stock
which commanded premium ~nca he came 10, was sold
Al discount Of 72k rer cent aborers could not get TIER
psv INC public wais, soppa &c vens oas 40 me as,
public orrs stopped aud ne people tarsd 70 pay
the l-terest the public debt That vas me result q
him then FOR while. The dom,crsdc party caue INTO
rover hey restored the credit OF state bcy refumed
TIE o. 70, ppos r .ns :. 1nsy s
constitution they ned provided forth gratus payment 81
tie pubic tcb, and BAD crcsed prohibition .g,n,. any
future debs SUCH no sever I'D not sppes 70 be the re-
suit. subsequently the constitution -o slieret Au1oo'-
~ was thereby given 70 create pubic deb. OF nne NIL
Ions 70 ocmpese The canal and We now ard ourselves
with public debt watch sncur 70 $50 900 900 In this
year, 1851, and 10 made up tnu,:-
seners oSs
canal debt sbout Isl 100000
,o.., s79Gs, az,