New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-01-05
Total. ACKNOWLEDGEMENTS, O72, 2Oi SO

The payments during tho year FOR superintendencs,
and ordinary repaiIs collection of revenue, salaries
elargeable to the Canal Fund, and miscellaneous pay
nents, have been 81, O7Ss's o. Surplus revenues
1898 425 "a.
IL will be thus seen that for the last fiscal year,
after paying the expenses OF collecting supeIintend
ence, and repairs cbargeabe upon the Canal reven-
nee there 10 deficiency of $7O6,514 Us of the sum
needed TO pay the interest, and provide Sinking
Fund TO meet the first Constitutional requirement OF
a. 600. The interest upon the Canal debt alone is
arr uAly 81 35S 500 80. TIL interest upon the Gen
era Fund de IL annually 1854 6o6 10. If the entire
surplus revenue from the Canals was now to be appro
priated 10 the payment Of interest on the Canal deb
there would be deficiency Of s365, ACC 80. II the
General Fund debt shoud be included there would be
deficiency Of $712,70 "a, to be provided FOR IN come
other manner. From statement made to me by the
Auditor Of the Canal Department, il appears there
have been drafts made by the Canal Commissioners,
mp to the 3Oth September 1853 for 81 $780, 08 80 be-
ycnd the ability Of the Treasury none of which have
been paid and that the amount Of these drafts viii,
In the opinion Of the Auditor by the LIST of January,
1852 reach 81 200 600. From another source the es
innate for the period, aud for the same object is
g. 900. To meet the claims upon the Treasury,
sexual and estimated which relate to the Canals alone,
the following sums will be required:
To pay out standing drafts for work done on the Ca
mails, and awards for land damages partly esm ma
For one years interest on the debt of $l2,-
900, 600, contracted under section :, of ar
ticle z, Of the Constitution. 1l00OO
For the principal and interest on the tempo
rery loan OF {SOO,UO due LIST July, lStp.. 2-u,bV
Estimated amount required, under the act
chapter 263, of the laws Of 1858, pay
interest on drafts and awards, the prnci-
pal of which was hcuidaed at the Depart
mspt. prior 10 April 10. 1858. $4,000
Total. $2,bo5 OOV
equivalent TO State Tax OF nearly two mills on the
dol ar Of the valuations Of 1857.
The above estimate tf twenty.six hundred and fifty
five thousand dosrs does not include all the damages
for land taken for the construction and enlargement Of
abe Canal, which it supposed, wiz require 100000
addiiona and that $500 coo VIII be required To pay
the fifteen per cent reserved out of estimates Of work
done under contract.
If these figures prove TO be correct obligations TO
the amount of 81 0OO 900 already exist against the
State for the Canals alone without any estimate for
work ye. 10 be performed in the completion thereof,
. large part Of which obligations have been created
regardless Of that part of the Constitution which pro-
vides that debt shall be hereafter contracted by
behalf Of this State, unless such debt shall be
fhoJized by law for some single work or object, TO
be distinctly specified therein, and such law shall inn
pose aud provide for the collection Of direct annual
tax to pay and sufficient to pay the interest sueh
debt il falls DUE and also to pay and discharge the
principal Of such debt within eighteen years from the
time az contracting thereof
Thus, without the power to creste debt, uness
hrst submitted to the people, debt has been created
for Cara purposes, without the means OF payment in
the Treasury, or at the command Of those who maize
n; ard requires your early and deliberate corsi era
tion as 10 the necessary and proper to be-
adopted, TO cave unimpsired the public faith; for
under circumstance Will the State OF New York ever
refuge to acknowledge and pay any and al last claims
that exit against her, thai may have been
traced By any Of her authorized agents. regret the
necessity fer this exhibition of the financial affairs Of
the State wherein u shown floating Indebtedness Of
such magnitude; but justse to Legislature that vii
be expected 30 provide for its extirsuhmen, requires
that il shcud be stated.
From information derived frcm the State Officers
an led 10 believe that one million os dollars for tue
Erie Canal six hundred thousand dollars for the 0s
vego; two hundred Thousand dollars for the Cayugs
and Seneca and three hundred thousand dollars for
the other Canals would essentially complete cur sys-
ten Of Cara Enlargement. except for portion of the
Erie where remain what are called wall benches, ON
which the slope or protection wall built to secure
the inside bank of the Canal. The removal Of these
has been recommended in former Official reports but
win not be necessary FOR the immediate purposes Of
navigation.
am also Informed that very essential advantages
can be attained by deepening the whole Of the channel
OF the Ere Canslto feet, aod by lesving the
wdtn Of the small portion yet remaining 10 be wideaed
at forty live feet.
Tue cost Of this partii enlargement Is estimated for
che Erie CaaM at three hundred Thousand dollars, in
Which would DO included twenty-five Thousand dollars
for oeepenLs the Present channel through the Csyuga
Marshes. Inc further sum Of ere hundred and fifty
thousand collars would deepen the 0swego Canal 10
Elk feet. Both these sums be expended before tbs
opening Of navigation in the ensuing Spring.
Another mode OF prosecuting the Pablo Works has |
been suggested namely: 10 six feet of wster
the Eiie, Oswego, and Cayuga and Seneca Canals, |
and TO proceed with the permanent work across the
Cayuga Marshes during the ensuing Winter, all Of
II. - =. 49, l.