New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-01-05

The &, fci, Nc in the General Fund the large float
mg oebt Of the Canal Department, for the paymen
of which the Stste must provide the necessary funds
reoured for the completion of the Canals which you
are prohibited by the Constitution from borrowing,
except der circumstances that at best can be msde
to apply but 10 portion of the aggregate amount,
will indicate the necessity for economy ard retrench-
ment, as well as for refusing appropriations TO new
objects ono purposes however meritorious. II Is as
much the duty ard il terest of Governments, as OF in
oivniuals when burcened with obhgati' rs, To study
and ~ sciice economy. With resources to justify our
murifceIce nsh p cperly respond to the various
enterprises and the numerous appeals that will clam
your consideration; bot when The mesus required TO
promote general VI Individual interests can only be
obiained by d resort 10 taxation, shsl best dis
charge our duties by refusing to increase the public
burdens. Indeed j cannot forbesr 10 express the
opinion, that until the caDss completed, and the
pestrt floating Indebtedness s paid, IT is inst snd ex,
pedert 10 confne appropriations 10 tire simplest and
most eco nOmical nee, settles OF Government
There is deficiency in the General Fund Debt
SINKING Fund to pay the interest upon that part Of the
State cebt ohsrgeabe upon il, of $iss6i Il, which II
also becomes ssary 60 provide for.
Tie amount of capital Of the Shool Furd is
1851 900 81, which shows al increase during the
year of g., SOS u.
The capital Of the Literature Fund amounts 10
s2e9 e52 IL. The smount received FOR revenue is
$l6,lll Oh; which is annually to be distributed To
Academic and used for the purchase of books,
maps and gle hes, ard Philosophical and chemical APP
paratus for Academies.
TIE capital Of tie United States DEPOSIT Fund, being
the amount received from the Uuited STATES, is
$40li,5 $50 II. The amount received for revenue is
$2iS 767 81 which Is also appropria ed FOR the snnual
support of academies schools, the State Nor
al School the Instruction of tescAers classes in
a. ademios ard fer Teachers Institutes
TIE annual report Of the Controller will be laid be-
fCIe you st early day. Ii will be found TO contain
information essential 10 proper understanding Of the
financial condition Of his osn department and IT the
several boards with which he is associsted. To that
epoi ssk the special attention of the Legislature.
The report OF the Auditor OF tbs Canal Department
vii sko be presented 10 you, anu vail DC found 81 con-
tain much useful il ioImstiop.
AS esIdepce that cur Free Baking system furnishes
security 20 those who hold its Giro asting notes may
be stated that the entire loss under it, bill holders
resulting trom susper sion durng the severe financial
esnbsusssmects Of 1857 bui g. 9S9 81; while the
community suffered 10 the extent OF nearly 30 psr Cent
OF the smoupi in circulation, upOn tbs bils :. th,ca
ehaittrsd banks which failed eure the same period
q Osles! disaster, j. !. greatly TO the creS, Of orr
banls that tley 50 reaey and speedily returned TO
the redemption IL coin Of al the obhgsSous, and
have since maintained specie payments While st the
same time they have rendered 10 the public ell needful
facilities.
There nay he alterations suggested, and iudlcous
changes made n some OF tie details OF the present
barking system; bet take pleasure in saying that,
whole the system is working satisfactorily sn1
eursh-far more 20 than any former oae that has
existed in this State
The Superintendent Of the Banking Department vii
very lay before yen his annual report sion
ucb reconmer astcus his expereIce and practical
mind may have led him to observe necessary be
adopted by tie present Legislature. refer you 20 il
as being ertitleo To great consideration.
Some amendment Of ths General Law for eresting
Insurance Companies is deemed Necessary prevent
fraudulent practices in the mode Of investing the Capt.
'el STICK thereof.
The omission Of several Rslrosd Companies 20 COM
ply with that portion Ct tle set of 1850 known the
" GtreI al Railroad Lsw which provides that every
" Rsirosd Company formed under this act shall make
annual report to the State Engineer ana Surveyor
I" Of the operstiots Of the year, ending the Sfh
sept, which report shall be verified by the osth Of
" the Treasurer President and Acting Superin.end