New-York daily tribune., 1858-03-04
Total. ,4O6.SdS

The Assembly held a session last evening, and
took up in Committee of the Whole (Mr. Van Val.
kenburgh in the chair, the bill to restrain banking
institutions or individual bankers authorized to issue
notes of circulation from assuming the title of saw
ings banks, or receiving deposits as such and pro-
vidinr penalty of 500 for every Ofcnse against
this act The bill was ordered to third reading,
and is to take effect on the first of May next.
The bill from the Senate, to authorize the New
Sork Dispensary the Northern Dispensary, the
Eastern Dispensary, the Demilt Dispensary and
the Northwestern DispeDsary of the City of New
York TO change the time of holding their annual
meetings ard eecting their officers WAS also ordered
10 third reading
In the Assembly, to-day, the report Of the Com
rnissiOners of the Canal Fund on the amount of
money appropriated to the Canal during the pres
ent fiscal year, the condition and resources Of the
Canal Fund, and other information called for by
the resolution of the Assembly, was presented.
The amount of Canal debt at the present time is
Sl2. .223, ,7Oi 33. TO pay this there is set apart
from the Canal revenues, after paying the expenses
of collection superintendent and repairs, the sum
of $l700, ,O00 for the interest and To provide q
Sinking Fund for the principal. The revenues did
not reach that amount during the last fiscal year
by about SlIO, 900; but the Commissioners regard
IL az reasonably certain that ordinarily they will do
40 ard the debt if il s not increased in future,
will be provided for in 1865. 1t cannot, however,
be paid of at that time, because $4,000, 000 of it,
which was borrowed in 1855 TO meet deficiency
then existing in the Sinking Fund, does not fall due
till 1874.
The Commissioners refer to the amendment Of
the Constitution in 1858, by which Sl0,500, 900
was authorized to be borrowed for Canal purposes,
and SAY that there means in their possession
present or prospective, without large increase OF
Canal revenue 10 pay the interest or provide tor
payment OF the principal Of this debt, excepting
$25 900 remaining from the last deficiency loan, un-
less resort is had to borrowing on the credit OF the
Sinking Fund The revenues of the Canals must
exceed So, 00O, 600 before anything be realized
from that source, that amount being necessary tor
the current expenses and the Sinking Fund for the
old debts.
The Commissioners recommend that means other
than by borrowing be provided to pay the interest
ON this debt. They do not think the authority
exists under the Constitution to borrow money from
time 10 time to pay the interest as il becomes due
and thus increase the debt without regard TO the
limitation within which the debt is required 10 be
paid, aud without regard 10 the existence Of the
Sinking Fund except in name or whether il has
any revenue or not
The bill to remove the county seat of Anegsny
County from Angelica 10 some point on the New
York and Erie Railroad, was considered in Commit
Tee of the Whole, debsud, amended and ordered TO
third reading. II appoints Commissioners TO
locate the county seat, and authorizes the State to
loan the county $50, 600 from the School Fund with
which 70 erect suitable buildings. The Special Com
nttee on the Castle Garden Emigrsnt Depot re-
ported an opinion that the sale Of railroad tickets
should be subject TO fair competition in the de-
ot-that the subject required more thorough
eAaminati' n, and that committee of three De ap-
pointed for that purpose. The report was adopted
ATTORNEY General Tremain sent in an opinion, IN
reply 10 resolution Of the Assembly, on the SUP
lect that II is not necessary that member OF tne
Legislature should reside in the District he may
represent IN order 10 entite him 10 a seat. This
opinion WIS given in reference to the seat Of Mr..
Seeley which is contested mainly on the ground Of
noD-resdence.