The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-07

|
Financial Condition OF the state OF New
York.
The annual report Of the State Comp
troller has just been issued, and is, on the
whole, most satisfactory and encouraging
statement of our financial position. After re-
ferring to the heavy expenditures entailed by
the war, it proceeds to say that, aside from
these drawbacks the financial affairs of the
state are in condition of unusual prosperity.
From the deep depression which characterized
them four years ago they have been brought
up to point which may justly excite some
degree Of exultation. From the policy of
economy and caution in voting appropriations
for new enterprises which was then adopted
the best fruits have resulted. The enlargement
of the canals has been completed; for the first
time in many years they fully answer the re-
| quirements of the constitution; all just demands
have been promptly paid; the credit of the
State was never 80 high; and, In the face Of
heavy war expenses, the funded debt has been
reduced by the actual payment Of $2,1OO,OOO.
An infexible adherence to the same system of
rigid economy is recommended in view of the
! uncertainties OF the future.
| Out of the appropriation Of $4,000, 900 voted
| by the Legislature in April, 1861, for the pur-
pose of raising and squipping troops for the
service of the federal government, it is stated
| that there remained due on the 3lst of July by
| the United States a balance of 81, 1886, 963 66.
| This has been carried over to the credit of the
State in settlement of its proportion of the
tax Of 100000 voted by the act of Congress
| Of August, 1861, the further sum Of 100000
being paid to the federal Treasury in cash
to complete said settlement. Further expendi-
lures have been made since July last which
are chargeablc to the United States, but which
are not applicable to the payment of the tax.
They remain for future adjustment.
The total expenditures under the act of the
18th Of April, 1861, "to provide arms and
equipments for the militia Of the State and for
the public Defence" are set down at
1927 ,652 IS. The whole amount advanced by
the State for bountics to soldiers enlisted
under the arrangement with the Commercial
Bank of Albany was, from July II to Septem-
Der 80, $3,500000. The amount deposited
with the bank to enable it to make these ad-
and Comptroller's bonds, payable ON the LIST
of June and July next. By this arrangement
the drawing of money from the Treasury on
account of these bounties and the expense and
delay of an extra session were avoided. It is
for the Legislature now to promptly pass an
act making the requisite appropriations to re-
imburse the amounts advanced by the bank.
The receipts of the canals for the fiscal year
ending 3Oth September, 1862, are set down at
$4,s54,9s9 g., and the expenditures during the
same period at $773,39s 80, leaving surplus
revenue Of S4,OSl ,59l IS. After providing for
all the sinking funds required by the constitu-
ton, there is q remainder amounting to
$685,34S GO. The Comptroller makes several
specific recommendations for the disposal of
this balance, all Of which appear to be judi
cious. The total amount of the State debt is
estimated at $30,517 ,424 81, showing, as we
have already stated, an actual reduction within
the last year of s2,10O00O of principal. The
revenues of the canals having, during the same
period, filed all the sinking funds, no taxation
will be required for that purpose; so that if
these funds are kept full hereafter, as they
should be, the entire debt will be extinguished
as fast as it becomes due, and will be substan-
TALLY paid off within twelve years.
The expenses Of the government for the fiscal
year commencing the LIST October, 1862, are cs-
timated at Ss,97l ,705 l6, and the revenue at
Ss,227 900 81, leaving deficiency on the 3Oth
September, 1868, of s744704 81. A gratifying
improvement is noticed in the administration of
the State prisons. tie receipts for the last year
being considerably larger and the expenditures
smaller than on tac preceding one. 1t is also
stated that the number of convicts in all the
prisons is rapidly diminishing In regard to
taxation, it appears that the taxes for town,
county and school purposes have increased
enormously. Twenty years ago they amounted
in the aggregate to only s3,626,793 81. They
are now estimated at $16,0O00O0, without in
Guiding incorporated cities and villages. The
aggregate valuation of real and personal estate
in the cities of New York and Brooklyn for
1862 is set down at 81 ,449 300, 948, and the
State taxes at &c. 1893 rs. The Comptroller
calculates that the total Of taxes required to be
levied for the ensuing year will be only
S3,260,9 1888 81. or less than half the above
amount. OF course IL any new works are under
taken or extraordinary appropriations made, it
will be necessary to increase the taxes suni-
GENTLY to cover them. At period when profit
gate expenditure and waste characterize the
administration of the national finances, this
healthy exhibit Of the financial condition Of this
great State is a cheering and hopeful sign, and
affords . satisfactory assurance that here, NJ
least we are not likely to lose sight Of the prin
ciples that should guide all well governed CON-
munities.
The REroRTED BArrLE IN MExico.-The news
from Mexico. which we publish this morning,
would be the utmost importance to the French
army in that country II it could reasonably be
raliad on Rut canning 10 ms "a II does bv a cir