New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-01-04

Constitution ............ n7N,W0 10 69teOO w
Under :, sec. 10. OF TIE . -. 49, m
Constitution. ........-.. f49,Je0 ~ x1'V<s %
Under art. T. sec. IL, Of the 1890 40
Constitution. 2@fo,VVV w i''''SV w
Total So 81, $40 rs sl.2eO,262 &c
The gross earnings Of the canals from the close Of The
fiscal wear 1860 September 80 1864, four years we're
1854 After paying the expenses OF snpefln'
tendence collection and ordinary repairs for the sane
period e. 279 1854 there was net balance OF surplus
revenues amounting 10 Ga 4i2 zoe 40 From tha sum
there has been appropriated the canal DEBT SINKING
finds $40 10 the funds for the extra repairs
and ppro OF the clnnls, for land damages and
other claims against the State growing ont OF te en-
argsment and completion Of the pubic works sl'oOo'
7s6; TO the general fund, account OF interest On
the general fund debt and for support OF the Govern
nent 81 o5 ll34o. making altogether sl4442 foe 90
The amounts carried 10 the credit Of the sinking hnd
have boeu applied necessary, 10 tho payment
of the interest and principal OF the canal stock debt
On the goth september lobI the balance an al the SINK
ing funds in the aggregate. were so0 tVaI constliu,
tionalv pledged the payment Of the interest and
principal the canal debt II is matter OF PRIDE and
qualification that since the close Of the hscai year IN
1850 this debt has been reduced a. 1881
The A. ditor Of the Canal Department reports that
there are now outstanding snd unsati'hed CLAIMS
against the State including interest TO the date w1en
payment can be made from funds now 10 DE PROVIDED
by TAXATION amounting TO s5s6329 80. These Claims
are founded upon awards by the Canal Appraisers for
land- taken for public uses and upon s@afds by Inc
Canal Board under special acts Of the Legislature
recommend that provision be made FOR this payment OF
these claims al the earliest period practicable.
The Audor Inmates that there Will DO denciency
in the caaa tolls the cnrreni bscal year owing 20 the
very large sums needed for the repairs arr maintenance
Of the csus TO extent that Will render additional
aids to the sinking funds under Article VI see:ion
of the Constitution necessary 10 enable the State 10
preserye the Iuhic faith toward its cfeditors The
claims upon tte fund will be FOR interest upon the
Sl2 900 det for the next fiscal year ana whatever
the deficiency may be- must be- supplied By deficiency
uUn me credit Of the fund, or by equitable taxa
ti0n.
| thn nj on he h. disposition
ability Of the people to bear the burdens Of the hour
discharge occurring liabilities and demands upon them
s D,.s.se Of paving deSts insteni OF
borrow ing pay should be observed by Governments
A. well az b, ndividuala and peciay should the rule
az uroupt payp emit of interest debt from ordinary
resources taxation never be departed from IN
unexpected emergencies Notwithstanding The heavy
blrdens Of taxaoh the people IN all the indsir1i pui
suits exhibit a comparative Increasing prosperity. Ii
NAV not be improper TO refer, At time when 20 mach
socitude IN felt toe strength and resources of the
loya States and the prosperity Of the people 10 tie
share which New York state hss in making up tie 1
| gregate OF tEese resources.
The contest forced the people for national existence
IL severe, yet the magnitude OF TIE means II has de-
yelopcd and the strength II has shown the loyal states
10 pOssess exceed all our calculations. We may with
lust satisfaction point to the lending facts OF our pros
pery. when the purpose 10 be served IN 10 strengthen
and encourage the patriotic impulses Of the people aud
10 sustain them in the discharge Of duties hch often In
yolye great haTdshIps and ias. The sacrihees thcs
arc called % make will not be considered In Nan
suspected proportions and defy the demands Of
this gigantic war
The geographical position Of State IL snch that II
has at times drawn ~ its ports and carried over IFS
interior lines Of spoTaon the greater share Of the
foreign and OF the interior exchanges OF tie
United States This concentration Of trade has In
creased since the began in consequence OF the clos
ing Of the Southern ports and The soppagc oil trade on
the Mississippi and not only has this tendency been
more decided but in addition the volume Of all classeS
Of trade foreign and domestic has been greatly en-
90. tka .ftn If ttn aft ta
Union and 10 the surprise Of mort Of its friends the
chief seaport Of the country has increased its business
both in foreign and domestic commerce more rapidly
than at any previous time and the great lines OF trans
portaton nave nearly doubled the quantities Of produce
carried through this State 10 the seab0hrd since 1899,
and the greater proportion Of the Increase has been
subsequent TO 1860 during the years Of actual war
The public works Of the State, more decidedly
than ever before indicate the wisdom Of their founders
and the great railroad Lines find their capacities taxed
10 the utmost with only occasional Interference with
| the canals.
The report Of the Auditor shows falling of in the
revenue Of the canals for the fiscal year. but this may BE-
the result Of the anxiety OF the people 70 reach the
markets with their produce in the quickest possible
time while ptces are ruling high. Ofientimes their
interests viii be promoted by paving the higher rates OF
railroad transit, with the view Of seeking market
which today is buoyant ard tomorrow may be de-
pressed Hence large quantities Of produce have been
diverted from the canals TO these speedy lines OF com.
municaton thus swelling their business as their annual
nc ports exhibit 1t Is not doubted, however. that the
u ansit of internal commerce viii find It's accustomed
channel when the crcum,trnces which Lave operated
temper ary to control II, are at an end.
The tunnage Of produce going eastward on the Erie
Canal derived from the Western States and the Cana.
das rose nom 034 1853 tunsin 1859 to 9 1877 tuns Ia
1902 During the years from 1859 TO 1864 inclusive the
two great railroad lines carried eastward the following
aggregates Of both through and way freight
Central Railroad Eris Railroad.
Yer TINS Iuns
1893 ................... S0E7 -
1860 ........-.......... 'pAc -
is6i.............. ssl,OS tHsG7
1850 hf4 lp 972 1872
ieca .. IOs4259 Loss 100
iecI ......I 557l48 l332a54
With such conditions attending the very crisis Of the