The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-23

There seemed to be no resort 10 supply this deficiency
but taxation.
In addition to the canal debt the State owed Sc 800 600
on account Of the general fund requiring ann inter-
est OF about $500 0o0 and without any of
venue except taxation either that charge or the
ordinary expenses Of administration.
At the same time the canals unfinished and re-
quired an expenditure Of 81 600 900 complete them
There seemed to be escape from TAXATION severe
and protraced and friends of our system of blc
works were well nigh discouraged, while the enemies of
them thanked God and took courage.n Especially the
powerful and scepess antagonist OF the canals awaited it.
self Of the gloomy character Of this financial exhibit to
give force TO It's dspaIagemep Of the public works and
again derided and contemned tie policy of completing
them The Legislature elected In of an actual
deficiency of revenue and Of without any nstruc
tons upon the point froa their constituents adjourned
after providing for the immediate wants Of the State and
for the completion OF the canals by tho heaviest
levied upon the people, leaving IL TO the Canal Board 10
devise policy which might save the State from perper
atng such system.
To this duty the Canal Board addressed itself by re-
ducng the expenditure the hand, and increasing
the revenue on the other The effort to reduce the cost
OF maintenance and repairs produced gratifying results
Expense IN isSs-6o 1897 SIS &c
Annual saving. $3.50 9O2 Is
TIE for the present year can now be estimated
only but there Is no reason suppose that they viii ey
ceed those of 1s6O-6l.
To increase the revenue appeared to be so ex
pedient as an increase OF the rates Of toll.
The increase was denounced by come, who dreaded its
elect upon the tonnage Of the canals by dvertg trans
pora'on from the canals to railroads. This opposition
upon the canals, which maintained that its bus ness
would be circumscribed thereby. The Board however
persisted in dscarinp the ruDous rates which tolls
had been place and upon several important articles OF
transport 1t imposed moderately increased rate Fix.
perence mas settled the question between the Canal Board
and such as dssented from its views. The auditors re.
port made to the Legislature in JaDJary last,
this statement every class Of articles which the
rates have been raised the toll receipts have increased
1851 The result Of the years business was most
satisfactory, and constrased with that OF the previous
year thus
Tolls received in 1890 81 SO COZ 507 90
Tolls received in 1859 60 lT2394 co
Increase in 1885, 61. ..............sI 2s5 $50 90
Add amount saved in expenses. ........ $50 zoe IS
Increase net income in 1860 over 1850 81 436 554 IS
Instructed well as encouraged by results ike these
the Board made some further notifications Of the rates of
toll last spring Up to August the increase over the
large receipts Of 1850 is 1928 900 which ustes the be-
lief that the whole increase Of the present year viii be
$500 900 over 1860, and 50 600 600 over 1859.
Contrasting the close Of 1861 with the opening Of 1860
wilbe seen that while on January J. $780, the canals