New-York daily tribune., 1866-01-03


Amount of Canal Fund Sept 60 ls6i s. 156l ~
Receipts during year ending Sept 81, 10 4e2''oo 20
r.,, II. $50 526 "A
n-, e3.922 go II
The Canal Revenues for the year show receipts Irou
tolls s3 5l6 9is 63 Miscellaneous receipts hcrcuso
this amount TO SO 81 465 IS. Payments dnring tnc
wear were 81 97 373 59-eavng surplus of 80
which was paid to Sinking Fund under sec. j. arr. :,
OF the Constitution. This exhibit shows deficiency III
the canal revenues of 80 20 TO cover the
upon them by the Constitution; ard sl24OoVV OF tnIs
deficiency must be supplied by immediate taxatloh upon
the people The tolls Of ls6j were ~ les
than those of ls6i, and st9 y less thah 'Ho''
1903. 49,. e hol
ances of the several Sinking Funds in the Treasury Oh
the Goth of September 1865. applicable to the
Of the interest and principal on the caha s'ooA "'''
the State: . e, nc -,o %
Amount under section 3, article 7..---.. @1'29S -
Amount under section H. article 7...--. 'o''''o -
r., g. ~. 500 80
Annual interest charged thereon. loe'o%V w
balance anpcabe to payment Of princ pal 81 ~ 80 20
Eecaptuation of the canal stock debt OF the s'"'c
paying interest and after September Jo -
Principal. Animal Interest
Under article :, section Of 80 30 ,so-o "a M
the Constitution 90 t3VO wv wv !9'9 20 M
Under art :, sec ofsame.. l.uorVVV W o o' zoo "
nder art. :. see. l0of same 5y-ooo ~ ,55'i50 oo
Under art Z, sec. u OF same -,-V-'VV' w
Total .sIo42i SIS 40 SI.lO5, 249 p
present application Of the balances OF t1e SihAlIs
Finds To the payment Of the principal oi Tue ucO1
voud in the aggregate reduce the debt TO Us -
The amount debt actually paid since t9e eIosc u t
fiscal year OF ls6DIs Soo2 80 ~ WIN 'u'' va '"''
TO carry the reduction up to sy,e-'bl' 3D.
The ihnmulain Canal improvements Tlli cost IN te
whole sj35 900 and OF that sum s201OO remain 10 DC
provided hy the Legislature. Tho means pfO.luVun u lD
the Chenango Canal Extension, OF when go ~ - ~
| nofu tlfil NOT
cost OF construction. ,..
Tie Auditor discusses at length questions relating
20 the Enlargement of the Canals. Extraordinary Ke'
pairs and improvements. Ordinary Repairs ana h hA
penditures for Repairs IN coj. lie Is opposed 20 ~
Enlargement of the Constitutional restrictions upon ou'
Law for rcpairs During the last year eXendltuies loI
| repars have Ken unp.ccedentedy large. lie iorty
year history 5f our canals does not afford such pre-
ccdont The whole amount was Sl,ss2Oe5 ~, not IA
Gliding the expenses OF collection. The cost orepa'
f the Erie Canal j. less than 80 per cent o. the "Aoe
/ On tins head. the Auditor remarks;
Tho aspects Of the future pot appaning are tru! @
pnpromisng and gloomy. i have more thah orc
stated and now repeat that when our net surplus
revenue "A revenue over and above g!l charges l0i
superintcndeuce collection and Ordinary repairs ihlN
below the sum charged by the Constitution upon ihos'
revenues the deficiency whatever II may De, "hetA'!
! $4,000 .l,OO.COO or s2COotOO, Is placed III tn'
chedne OF annual taxes to be- collected from the people
Every dollar OF repair expenditure chaTgeaule ht""s
the canal tolls which reduces our canal surplus beo"
! s2asOOOo must be- drawn from the pockets OF the
people 10y taxation 70 replace H. .
have seen was only sl65009 70, and this leaves Ge
icieucy of $4,000 IN IeyenIe Ia be snpped ny DoT
rowing or taxation beside other borrowings and tax
aous on account OF the canals and otherwlse' Whos'
name is legion" 60.
The complaints Of the Western Producers and Ship
pers are really directed not against the capacity oi tu'
canals but against the cost Of transportation Ih'
present capacity is not loss than 10000 tnns; th
heaviest shipments never exceeded 2bl1Joi tlns
which was IN let2. To enlarge the canals ana allow
The passage OF vessels of 200 tons drawing twelve e,
ol water is impossible but it is practicable 20 arang
so- steamers Of 400 20 600 tons making the tp irou
fufalo TO New York IN SIX days. One hundred suel
seamcrs would deliver .e,oOoCOO bushels during on'
saron at SIX cents lushel over tolls. But ths "ofi
should not begin I'LL alter the Constitutional COAYen
ioa because there arr 10 paw the expense eN
ccpt by obtaining authority TO borrow ana tax unde
l. "a section of 9Th article.
II s suggested the Erie Canal should be placed unde
ons superinendcnt invested with the present power
OF tlc g. nal Commissioners, supeiintendents. collect
ors am local inspectors r ~ relates 10 the us'
end nav alton oi the canals and we should have one
uniform aud practical system under one responsible
head ia TAX uo levied 10 pay the interest on the eI
argercus and completion debt for the next fiscal veal
as IL has hscn for the present year the Commissioner
of the Canal Fund will meet with some embarrassment
FOR the and to pay that Interest and pre-
serve the public fnith and most assuredy this viii b
the caie ii the present appropriation OF sl0OoO io
the rrpiirs and maintenance of the canals the resen
fiscal wear shall be increased.