New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-01-04
FINANCIAL CONDITION or THE STATE.
CONTROLLERS REPORT.


the financial condition of the State. AT the onset he
says:
at is gratifying 10 re able Ia announce some i'm
pJovenent io the financial condition OF the State, dur
iue the past fiscal year. Although the people are bur-
dene6 with laIge permanent debt, and with heavy
taxation the Treasury has been to considerable
tent relieved from the embarrassmeDts and coWpica
tone which have for several years existed Nearly all
The demands upon the general fund have been paid,
and the STATE by the adoption of the Loan law sub
mitted the people at the recent electon relieved
from the disgrace of floating debt accumulated in
violation # the Constitution. strict adherence TO
the principle of limiting appropriations to means &C.
tualfy provided of promptly fulfilling every financial
engagement, together with an honest exercise Of
economy in every branch OF expenditure, will prevent
future embarrassments, and in the end restore the
State TO its former high character and standing"
The General Fund, from wLicd the expenses of the
Government paid hiss capital or permanent rev.
enue but is repeLished from year to year principally
by direct taxation. In 1884, it had q capital of
81 396 9iJ o. from the revenue Of which, together
with the auction aud salt duties, the Government was
supported IL lsi7, the auction and salt duties were
appropriated TO the Canal Fund and restored to the
General Fund IN 1886. Portions of the capital were
fiom time TO time appropriated to the support of the
Government and Objects until the close OF the
fiscal wear 10 1884, when tho entire capital was ex-
hsusteJ. From that period to the adoption OF the
present COpsitaiion, debt was allowed TO accumulate
of 50 900 $40 81 snd has since been increased to the
sum Of $685. est 81. large portion of this debt has
beer DcuIled 10y Looming the credit of the Stste to rail-
roao corporations for liabilities Of t1e latter which they
baye failed TO pay, and which tits State has been CON-
peed TO assumes end the other portion Of tie debt has
teen incurred for expenses of the Government.
Tie demands, paid and unpaid upon the General
Fund for the financial year ending Sept. 30, were
S5I(66S3; IeeOurces s. 900 sS4 leavio g deficiency
of S154C0. But tbere is, in consequence of unpaid
appropriations, actual deficiency of SO, 400. To
NEE, portion of this deficiency, 100000 due from
County Teasurers for balances Of State taxes Will be
made available during the year. and that amount has
been placed in the estimate of receipts The General
Fund il therefore substantially free from debt for ont
ssndnc appropriations, and viii have surplas at the
'elose Of the current se year. as appears ny the es-
mate of receipts and expenditures. The cher sources
Of revenue are the regular mill tax $3.50 oO; auc-
ton duties Sis 000 salt duties $685. Oo State Prison
earnings $l7j,000 sole of lands, Sl3O,ooV. The re-
CENTS for tie year estimated at S29 4S and the
EXPENSES at $2sljO7l 50, leaving surplus Of sl79-
Alb II.
All the unpaid appropriations as well as the deh-
iency Of $l5399 o. and $50 600 for canal tax are
included IN the estimate Of expenses, and 1t Is believed
that the reverue s not over-estimated The regular
appropriations pay able curing the current year, were
made by the last Legisa'ure and ore therefore hxeo
The means 10 pay these expenses were also PROVIDED
and al supped by the permanent revenue aud hxed
tax which has already been levied. and will be coli
lecied during The ensuing WOter and Spring Inc
Controller has estimated $4,000 for miscellau ap-
propIi.tiopp payable during the current year. in sddi-
ton 10 those already made, and yet there will be u
e. has VI NJ
This The fir, Instance for many years that the Gen.
eral Fund revenue has been in condition to pay all
demand. upon il and leave surplus in the treasury
The Controller feas that this prosperous ooociion
will lead the Legislature to enlarged and careless APP
negotiations aud advises caution IN this respect.
From the Abatement OF the condition of the treasury,
there wss balance Of money in the treasury at the
close Of the fiscal year of s6s62lS 81 which exceeds
the amount Of the previous year 10y o. anu
81 1857 by S233 Cos 49, But the whole of ths balance
belopgs to the School, Literature, and other truS'
in, de- aDd no part Of it 10 the General Fund proper
The Controller reprobstes the practice OF drawing
Cor general purposes from specific funds and advises
on im,rovement. which he hiss no doubt wouh ex-
ont sautary eject upon the finances OF the State, by
limiting ali paymenis from the treasury for each fiscs
wear to the appropriations made aud means provided
propa,ion ont Of moneys not specifically provided Tor
il. Ii this rule was adopted, the expenses OF ea'n
sca scar could be accurately known, and the respon
sbiity Of extravagant appropriations DEFINITELY hSed
The amount actually paid from the treasury III each
wear forms no certain criterion by which to determine
either the extravaganza economy Of the previous
LEGISLATURE During the past year, large amount OF
appropriations OF 1857 has been PAID "hish belonged
20 the previous iiscal year, and which should have
hee providea for under the head of deficiencies hna
CHARGED into the account Of 1853 instead Of appearing
as il now does in the expenses OF 1879.
The General Fund Debt Sinking Fund, shows
Amount received into the Treasury d, 20, "a, >,
during the yFer.....-........'': "
BsIapee Treasury on Goth stl@.. sosr.s7
ltSs...; :. - - ,sa " 37s Ia "a
Balance, Sept
ia Of no practical 10 continue an account
oftbs fund as j, IL only replenished by sums derived
from taxation 10 pay the interest upon the General
pnnd D, and the avair Of deficiency loans which are
pne dia,ely paid for stock falling due.
Oftl,. General Fund Debt, the principal Is payaoie
az follows: .... ,. $40. A, NJ, os
$40 SI A. pleasure e5en 8.
ia .,...... 2S110 o. On demand ''''''' '"''' ~
,,Sss........... ESQ % seSosS'4 81
The amount Of this debt has not bcen increased or
Er,u;shed during the pact pear. The annual interest
| is 1914 go 10.
1b, contingent State Debt, chiefly for aid 20 n.i-
.oods amounts 70 $4,000 Of which soooo 70 DC
Maid in Aueus, and January neS'
,r, titan of Canal Finances 10 rhown by The fol-
| lowing statomeRs' c..,,,,
At 7 @