The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-05

1856 mill. $50 600 OF
i' The eacencv in the general fund the large floating
debit of the Canal Department for the payment Of which
the State must provide the necessary funds required for
The Completion Of the canals which you are prohibited by
the constitution from borrowing, except under circum-
that at best can be made TO apply but TO portion
of the aggregate amount will indicate the necessity for
economy and retenchment well as for refusing appro
prations objects and purposes however mertori
II is Us much the duty and interest of governments
of Individuals when burthened with obligations to
study and practice economy With resources to
Justify our muniicence, we might properly re-
rous appeals that will claim your consideration
but when the means required TO promote general
individual interests can only be obtained by resort
taxation shall best discharge duties by refusing
to increase the public burhens Indeed cannot forbear
20 express the opinion that until the canals completed
and the present floating indebtedness is paid, Is just
and expedent TO conne appropriations to the simplest
and most economical necessities of government
There Is deficiency in the general fund debt Sinking
Fund TO pay the interest upon that part OF tho State deo
chargeab!e upon it, of s4sS64 A. which also becomes
necessary 10 provide for.
The amount of capital OF the school fund 81 55l 200
So which ows increase during the year Of s4 SOS 2S
The capital of the Literature Fund amounts to $3.50 952
II. The amount received for revenue is sl6,ill 0l,
which is annually be distributed to academies and
used for the purchase of text books maps and globes and
philosophical and chemical apparatus for academies
The capital Of the United states Deposit Fund being the
received from the United States is s40l4 $40 IF
the amount received for revenue is Slo 6I So which is
also appropriated for the annual support of academies
schools the state Normal School, the instruction
of teachers classes in academies and for teachers nsti
tutes.
The Annual report of the Comptroller will be laid before
you early day. 1t will be found contain inorma
ton essential to proper understanding of the financial
condition OF his department and OF the several boards
with which he is associated To that report ask the spo
cia attention OF the Legislature.
The report of the Auditor of the Canal Department. will
also be presented to you, and vii! be found 10 contain
much useful information
As evidence that our free banking syste furnishes
security 10 those who hold its circulating notes. may
be stated that The entire loss under to bill holders,
sultng from suspension during the severe financial emf
barasemepts OF 1857, but 81 $50 Ga while the
mupy suffered to the extent of nearly fifty per cent of
the mount in circulation upon the bills of three chartered
banks, which failed during the same period of financial
disaster Ii Is greatly to the credit of banks that
they readily and speedily returned to the redemp
ton in coin OF all their Obligations, have since main
tanned specie payments, while at the time they have
rendered TO the public all neettui facilities.
There may be alterations suggested, and judicious
changes made in OF the details Of the present bank
ing system but take pleasure in saying that whole
the system is working satisfactorily and securelyfar
more go than any former one that has existed in this
Stale.
The superintendent of the Banking Department will very
lay before you his annual report containing such
recon lamentations as his experience ana practical mind
may have led him TO observe necessary to be adopted
by the present Legislature refer you to il being
INSURANCE COMPANIES
Some amendment of the general law for creating insu
companies deemed necessary to prevent raudu
lent practices in the mode Of investing the capital stock
thereof.
RAILWAYS
The omission OF several railroad compau les to comply
with that portion Of the act of 1885, known the Scene
raj Railroad law which provides hat every railroad
company formed under this act shall make annual
port the state Engineer and surveyor of the operations
Of the ending sept 80 which report shall be verified
by The oath Of the treasurer president and acting super
inienden OF operations ana be filed in the office of
the state Engineer and surveyor by the list Of
December in each year. has rnderedt out of the power
Of the Engineer Department to furnish accurate statistics
in relation to the operations Of that large and important
public interest and property IN our State during the year
FVs5S find it necessary referring the subject
Nelly upon the Of 1851 From the valuable report
OF the Stale Engineer and Surveyor presented to the LIE
gislauIe the 5h OF March, 1885, appears there
eighty egh. railroad corporations in the State having
total amount of capital stock of S4 $50 4sS gS Of which
pad in ses 1888 15s Is and having funded debt Of
ss3 942 1875 40 and floating debt at that tme Of 81 548
sec So making total amount expended for construction
OF Sl36 ESQ $50 3i OF these eighty eight railroad corpo
raons costing apparently the sum of 6,6ssseo "a,
above only fourteen declared dividends stockholders
IN 1857 which represented by capital stock S43
400; bonded and other debt s24 ,4Sl ~
An exposition by the State Engineer and Surveyor Of
of the which have produced result disas.
to this description of property, viii be found in the
same report to which call the attention Of the Legs
lature.
Those who have made investments in railroad stocks or
bonds have right to inquire whether II not within the
power Of the Legislature provide remedy for this
apparent humiliation Of their property in the one case aud
the depreciation of in the other since the directors
and managers seem unable to do So call attention to
this subject in The full belief that You will give il that
careful consideration aud action which property large
in amoun chiefly held by our own citizens, requires at
your hands.
Tic number Of the several State prisons
the 30th Of September, 1858, Auburn,
747: Sbg sing, lilo; Cinton 35S. Total, 2,2j. OF
which usaue-Aubum 70; Sing Sing, II; Gin.
| ton, 3.
The expenses thereof for The year ending Both Septem
ber 1858, wercAuhurn, ST. 641 Is; earnings $50 =
$40 e. Sing Sing Sl1g 900 IA: earnings, S75 9l6 -.
| Clinton, &55,,sl &c; earnings, S2l 40 SIS.
The tuton provides the election Of three In.
| specois foiows:-Ih There shall be elected annually
Inspector OF State Prisons, who shall hold his Office for
three year, said Inspectors shall have the charge and
perrendence OF the State prisons, and shall appoint all
the officers therein" Since It's adoption in 1916, the ex
pendures the three prisons have exceeded the
ings, viz
1s4T ... 80. SOS $50 80 1853 ....... sl0l G37 20
1913. l3S 400 80 1854 .... 1870, us So
ls49........... s. 3el II 1s56........ 326,172 SO
1850. ......... S2396 81 1856. ....... l02,531 16
1851. ........ 10 800 05 1857 ....... ll9 321 26
1852 .....,... 81 ,364 "a 1853 ....... 234 200 OF
Total 81 ;539,5F %
| which has Ocen paid from the general fund
IL IS We'll known that our prison system is much more
expensive than the system in operation several other
States; while IN It's discipline and management infe.
ror to others. Some Improvement both respects
can be made by thorough revision OF all the statutes re-
| 10 DrieODg which