The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-03

| 6eom OuLWelxne0
advantages, and therefore submit the suggestion "
the Judgment OF the Legislature
During the past year considerable progress has been
made the work OF retiring the circulation Of the few
remaining banks doing business under the laws Of the
State The abors Of the department upon which this
duty devolves have been performed with fidelity.
The able report OF the Comptroller 70 which your at.
'en'ion ia invited contains me following exhibit
Deficiency in the revenue, Sept So $780,. &117s so1
Payments Of the year. .............. ses4,65s
Total u ~
hecepb ........................... 14sV,Alo
Deficiency OF tho revenue sdp. 80 $780,. s2easss7
| OTiER FUSrR
Payments OF the year on account OF all the
funds except the Canal fund. $13, 651 1O2
Balance In the treasury sept. 80,
! lec0.. ...... ................. ~, o09
heceips 0f year. .lx,4So,oA
Amour. ov.rirawn Sept 80, 1885, ..... 8, on, 0s7
GENERAL FUND sTAlE DEBT.
Amount OF debt. Sept 60 1866 .......... $1,000 p54
stock redeemed during the year. 40s 332
Amount Of d,bt, Sept 80, 1866. ....... S. e42 $40
Ct; q here qs Z % e s S: e: sSs
ZION Of the above d-Gssncy q q 81, ass IL
! The State tax levied in i5sS was ole mills for the
cral purposes, ~ mile; for canals, 1915 Of mill
and Tor the bounty debt, 2,S mills The direct tax
announced 10 s6O3s SIT 81 exclusive Of The x mil tax
for school purposes and county treasurer fees.
the Importance Of adopting mode OF assessments that
should impose upon personal property It's due share Of
the Senate TO relieve existing system Of lis promi
nent defects. The bill introduced for this purpose
necessity Of amending the present law seemed 70 b
generally conceded. In the Of the debate differ
the end in view. and the Measure was lost The vast
volume Of currency the continued advance Ia personal
wealth and the large state aud onal debt and
scQuent heavy taxes, must 10 tile interest
felt this subject The burdens Of taxation should bear
equally as may be upon the tso great classes Of property
effort 10 secure mobilization OF our imperfect and nm
/ equa. Dian.
IL IS hardly necessary TO suggest TO you the importance
Of most practical rctrenchment and economy In every
department Of public expenditure. Our state debt 10
hardly shor. Of nf,S millions and !, 70 this e added the
more Than doubled The period Of declining prices and
lessened profits has been deferred but that mot far
remote tho experience OF the PAST and the indications Of
the present furnish ample proof The currency Of paper
and the currency Of must gradually approximate
viii doubtless tend TO unite aud equazs the two
rencies and ibis involves q reduction resulting in
Ii 4 respectfully suggested that the general govern
msnt could wisely diminish the impost OIL the produc
and q y: and sSsS Ssns
from The extraordinary period through which We have
passed. " would NOT embsrass the credit Of the ma
meet oil the dcniands upon Il with pronipines and en-
l gage s, further in Improvement and development Of
resources Tho theory Of the general government s to
imp,ec tax on home industry and capital and duty
imports equal to the ordinary expenses OF gov m.
snSins fund sufficient for the dsoLar5o OF the whole
| obligation In reasonable time The report OF the Sec
rotary o. the Treasury Dsce.sssr 1867 shows that S
elected in swen'y.elsht years; but. the re-.
is drawn from the productions Of the country, the in
crease will continue IN tho ratio Of the gain N produc-
ton About y-eight millions of present tate
debt was crcscd in Of the national during tle
period OF war which must g'laici Or raised ~ direct
da,on. ria ,hsrc;ose Of tue highest impoltaacc ,ha.
the peopl should be relieved with
TsSr from the 81 @ sa
a common interest," and wish nothing for New York not
equally advantageous TO others nor that would bear with
prejudice the national good name and
credit Heavy taxes retard enterprise and growth and
thereby diminish the ability Of the people 70 con
| tribute To tho public demands Guided by
tbs admitted truth, tho general and STATE
governments will so frame ther revenue. sys.
tens, meet all oblisasions w gradual and easy
methods The dspt Of the former des not ecd thr Q
thousand millions Of dollars u Is less upon pop1a
thai OF several countries OF tie old world which have
far loss sbisy for payment than own. The material
wealth Of our country T. so vast and he growth Of our
demand bu !. nevertheless hrs, Importance that Il
should b 30 dIstbrtcd through period OF years. ~
depress the enterprise Of the people Our varied
industry, profitable conmoT<e and our unieyeloped
resources bewder even e carefcl observer with ihei
addition 70 The actual capital OF country during the
period aptcJedsnt 10 dense settlement and matured
resources, What remarkable ability our country
will exhibit within the present century Well edited
estimates down the entire population OF the United
States about hundred millions in the year 1900
This Is upon which gives for the year 1870 ahoa,
foity.two millions two buniis d and City thousand and
for 1886, say thry.1 millions Ave hundred thousand
tho population given by the census Of 1860 be ne, IN
round numbers, ihirty-on millions Thirty or years
hence therefore 90 exect three times many
people In the country there are now The total area
includrg inland water surface. or the Tn ted States
about three and quarter millions OF square miles SO
in Lite more than one generation We are TO become
oottf hal
dense population Of Europe No cause can be az
signed for ordinary periods OF peace 10 disap
drawn from our wonderful and unfang rari,
OF increase aimee $780, uhd the same powerful incentives
are so invt ng and profitable This increase Of wealth
aud population involves but the steady progress
which our country has always sxnoaed car oe pos,
mobilization the internal will fall below the no
qisiie amount for the ordinary claims upon IT, or tina
the national credit will suffer-
Considerable progress has been made in the adiustmen
OF our claims against tho United taos for military
OF this claim up % July 1se2 and inclusive
Sl3l, lss OF rad A. inieres, on temporary loans
tsry 81 The treasury paid to tho state the sun
| OF si,1l3,ooo pending the presentation OF th,
due Ds'I and unpaid 70 February, ises, spsca
ageu, was ssnl TO Washington, with the vouchers 10
c Sssr sss allowed sss b. IN
tardy progress the late Comptroller discharged N.
ssn aud further efforts e ssssrs se ,sas were
s262 I63 H. winch Was paid into the state treasury
Subsequently requested return Of the dsaliowes
order that their informaliiles might II pos
sbie, be remed,ed. During the past year the paper
were received, accompanied by voluminous statements
OF differences and Of rejection and were placed
the bands OF the QuartcrTaster General, with direc
TONS TO thcrousbly revise them and prsc
tcscle, satisfy the requirements OF the auditing
bureau of the United States Treasury. This Officer
With the necessary assistants detailed from oihe
military departments, has made careful investiga
Ton Of records end papers, conferred with oicerI
on duty during The period u expenditurc, and In cyerJ
animation and research has been rendered especially
duous ny tue apse Of time since tho original expend
lures and u gratifying that mucf progress has bec
made In the face OF SO many difficulties The accounts
! so far - amended with fun aud compreleDslve state
psns bsye, within The Jast few days been presented