New-York tribune., 1867-08-08

sufficient revenues have been received to have accom-
pshed all that has been done paid on me cent % %
s6O0,OO0 existing al the commencement ana nearly, u
not quite, repaid all advances which have bren lhahe,
| and thus lave left tie Canals comparatively free
from debt aud the commerce passing over II Tree rom
taxation The debt policy has absorbed more tLan org.
half Of all the net revenues IN the payment u interest on
loans to say nothing " the large sums necessarily chSe
quent upon the hurried expenditure of large amounts ~
money within short periods Of time, and the occasional
| depreciation Of the credit Of the State II
should be borne in niId IN thls c2lneoItIn con- tb
Committee arranged that the outstanding canal deDts
will be paid in II years, and the revenues 9qnal io
years and then If should be desirable to reduce tolls
50 as to cheaper transportaio or Tor any 3er H.
il viii be IN the power of the people, thronsh ,, ,,,o
Legislature, to do so. and thus prolong me 'inm %
for the payment of the advances toS hre oic arc
continued the advances will be rapidly discharged ana
Either course may be made to result free channel Of
communication for al the commerce seeking transit
| this measure was more pressing than yonT Com,
mittce believe it to be, aud if tine policy ana
tee could not consent to violate e constitutional pledge
for the repayment Of the advance bciorementlonrd
without the clearest evidence that the people demanded
il so far from this being the case, every in9ieaion oi
burdens of taxation Beside the CONSTITUTION VIII contain
ample provisions for the accomplishment Of the proposed
object il it shall hereafter necessary for any
The proposed article enables the people at any time TO
can easily be amended ed as il was in 1854 But the Com
mttee believe that the people ought to insist and that
drawn from them by taxation The financial condition
posed upon the people furnish to the minds OF inc
Committee conclusive reasons If there were no Others
against the creation OF additional Indebtedness. This
condition. ana the amount Gi taxes upon the people 9
the State, will be briefly stated. The Outstand-
ing debts OF the state amount 90 Ss3Gs2 D. The debts
Of the cities. villages, counties and towns S5O0O0o
making total of state indebtedness OF siS335l 6S2 90
to this state 10 pay, is not less Than
s5OoOooOOo, making total of eos335l,cs2 p.
ness, which high authority has placed at the same
The highest assessed valuation Of all the property in
this state is 81 S265 from which Will be seen that
than onc OF the assessed valuation Of the property
The annual taxation Is very much larger than even the
permanent debt ldindiCatc.
Direct taxation by the state s2s0OOO
Direct taxation by counties and towns .. 32OoOOOO
Direct taxation by cities and villages lest'dJ 100000
Total $G?, 10000
The whole amount Of Internal Revenue re-
ccived by the United States Government
during the fiscal year ending July !, 1896, ...
Of Which this State paid in fact but sayonedh
$62 39SsO. The whole amount collected hy the tariff
was nearly $2ooooooo OF which the people OF I'M. state
must have paid consumers One-hfth, amounting 10
siOOOoOO in gold which is equal in currency to $50 oooooo
making aggregate Of animal taxation Of $3.50 9sl,J0
which more than II per cent on e assessed valuation
OF property and equals tax OF go upon every M man.
every voter If this excessive annual iaAaion should he
capalizcdit would require The sum OF s3oooC0O nj tN
assessed value of the whole property H. Therefore, the
present amount Of taxation Is to be regarded as pcrma
mnWelcome TI @ truth must be actnoHledgSd that the
property OF the state is mortgagcd 10 more than the
cent upon the value Of property y liberal allowance Tor
the net profits OF the people TINS bTic statement SHOWS
that taxation has reached point largely beyond the en-
tire net earnings Of the whole people ana is absorbing
the capital with fearful rapidly No argument Is needed
to establish the fact that such al extent Of tax
alton cannot be permanently endured. II Ia 10
have borne these cyacons with urcXampcd atrlotism
and patience; but they have right TO demand and your
Committee believe, do demand from this Convention
some alienation from pursuit and protection against ii
burdens. The proposed measures viii prevent, 10
the extent of the debt created aud The Interest thereon
the application Of the 10 De- returned 20 the treasury
The policy adopted In the proposed article commouds
itself 10 the committee. on the ground also Of prudence
tune disaster affecting the business interests Of tho
no one could have anticipated that the short space Of
seven years would have changed the condition Of The
Ieople Of EcWlork from that 81 comparative freedom
taxed people ia the civilized world Tic last war IN
creased tho busucls 81 our canals 10y hOckdns ottCr
channels Of conmuuicat0n-the next war may bocfade
thc canals themselves Pcslcucc or famine may cone
uon us whitening the very sources of our prosperity aud
tie only path 10 financial safety Hes IN the direction of
Tho question for NewYor .whetbcrshe VIII lcndcavor
10 check the spirit Of cXtrayHgHuce, and hnntsh podch
iy so prevalent In public and private gilI-, by ngi
financial PROVISIONS which VIII insure the IIASu'S ~
economy and the Observance Of pughied pubic ia. oT
whether the great power 2i 2 her h%HSc. VIZ si', i ,t w.
10 swell the force ~ that advancing ii1n when thl'ale
to suhmerge public and private credit ana BANKRUPT
the Legislature with reference 10 nppropnailnG pubHc
added some Others They propose 10 prohibit the lTg--
ature from imposing any tax upon the people Tor works
the time has arrived the enforcement By constitutional
provision Of principle which has Away. been iccog
ilcd n This state The present canals of the STATE can
be Kept In repair from their revenues aud II extensive
Improvements or new WoIs thau m pe t iSsc1,''l ,
by the creation OF debts contracted III pursuance oi
The Committee have also introduced provision pro.
hibting the Legislature from giving orloaniue e money
or property uf the State This provision VIII De, u IS
81 M
10 the people annually. II Involves genera pilh1lpt'
applicable 20 numerous cases, which have here
iifore occurred absorbing largo sums OF money
and to others hereafter occurring, Wme ,NuIniout
Ills provision would be deemed proper oJtelH "I Hla,e
aid or County Nothing is more dangerous OF more COR
ruptug than the practice which has latry syalledo oi
appropratng money for the bcnelt OF I"O"u =,
tons ana taxing tie people to supply the means. ~
can bo justified ou no principle ana is usu"y nas g
successful by continuation oi Ihh'n'1 ~ ~ ~ MI, ~
Of different pf0cc, without much regard TO me lnolt Oh
ouy Tho Committee have felt some cm9arTassincnt on
account 0f the necessary effect OF ms pioNlOl m , "
on al appropriations FOR charitable purposes 'AS'pt ~
put the practice Of taxing the whole people OF the
etste Tor the support OF local charities operates
GcIlvSs and Justification IN any sound principle
OF public policy The Comnittee haye tnTfeIol1 w, cor
lions Of this carctcr and leave 10 the Judgment d me
Convention the question whether any sd t Slr m
not. po '"'r The Committee nave considered the
question & EnSn , da The last Legislature appropriated
tho sum Of s25O0oO for that purpose ana eSu 'Nn h 90
nruse 10 tLO0OO1o The Committee are saIrm'u' INV INV
Pynr that this sum wal far short OF accomplishing me
irt and that an annual tax OF = 100000 AT least Tor
Ten years will be required Although the present srnc-
ture k Inadequate In some respects 10 Hcconmodhe uc
growing wants Of the state, yet II u sunclchiy ample
rd colnnodiOns for present public purposes anu ~
view OF the high price Of every element lmy51ved 5
a. its structurc, and TO save an ONcIburutneu
~ laouts rom additional taxation the Commhfce
bSyr concluded 10 recommend the suspension OF
tho work for ten years, by which time the InbIe
an. viii either he paid, materially Increased
os not to be oppressive. The Committee nave, ,,s US
,yeli 10 prevent future controversy, ah lYusu'c
to tIe ueole Of Albany who have contributed 10 uiIs
object Incorporated provision permanently Iocaths
N Tho Committee cannot