New-York tribune., 1867-08-08
knowledge that the Government would not
allow Rebel soldier 10 hold the Office?
OUR SITE FINAHCES And EIN1NCE
nENEpdJIY

OUR STlTE FIHAECES. And FINANCE
GENERALLY.
There were made yesterday to the Constltu-
tonai Convention of our State several able
and important reports on the Finances and
tbe Canals of New-YOrly, calculated TO fix at
tcntion even beyond her limits. Let us en-
dcovor in brief to set forth the gist OF the
matter.
Those distipctiyely known as Z" the Canal
"menp OF our State desire such amendment OF
thc Constitution rs will permit and secure an
immediate enlargement of the Locks on our
,rircipaI Canals. whereby their practical ca
nocitv will be considerably increased, their
traffic Gt is heidi augmented through the
cbeapening of freights and the aggregate re-
CENTS of tolls consequently enlarged. Their
views are set forth and commended in the mi
nority report Of Mr.. Hatch from the Committee
on Finance and the majority report read by
Mr. AlvOrd, from the Committee on Canals.
The antagonist debt-paying, tax-diminishing
policy is commended at length in the majority
report of Mr. S. L. Church, from the Com
mittee on Finance, and the minority reports of
Mr. Freeman Clark and others. Mr.. Church
would first pay our existing heavy debts,
State and local, and, to that end, postpone
for ten years the beginning of our pro-
poposed new Capitol, which is estimated
to cost $4,OOO,0OO. but will really cost far
more-at the current prices of materials and
labor, probably Ten Millions Having thus
patiently and gradually paid off our debt and
reduced the burdens of taxation, Mr.. Church
would build our new Capitol and enlarge our
great Canals whenever we can do so from sur
plus Canal revenues, and thus without mourning
debt or compelling additional taxation.
Mr.. Clark takes the bull even more boldly
by the horns. He denies that there Is any
necessity for further enlargement OF our
Canals or their Locks, insisting that Canals
have had their day, and, despite the conceded
cheapness of their transportation, are being
rapidly superseded by the more expeditions
transit afforded by Railroads. He holds that
the aggregate tunnage of our Canals has nearly
or quite attained its maximum, so that money
expended on their enlargement will be practi-
cally thrown away. OF course, he would not
borrow any more, but rather pay what we al
ready owe.
Mr.. Hatch on the other hand, foresees a
scowboat millennium whereof the falncst streaks
of dawn are Just beginning to irradiate our
horizon He is not merely poetic; he Is elo-
oucnt. rapt, "enthused" ecstatic, in view OF
the auroral glory which gladdens his vision.
In his Kaleidoscope perception, the Great west
is lust beginning 20 be peoplcd, and to stop
burning for fuel the bulk of her annual
product of Corn and Wheat, in order to
send it down our Canal TO feed the
crowded Millions of the scaboard and
of Europe. Nay: the countless millions OF
Eastern Asia have just commenced great
Western migration, which il destined rapidly
TO people our waste places with most skill
ful, industrious population, all eager TO TIL Our
fields for two or three greenback shillngs per
day, and thus augment our products, our
freights, and our tolls beyond all human
conception.
"yisions OF glory. spare my aching sight"
! OF course, Mr.. Hatch holds that not TO enlarge
our Canals at once and TO run into debt for
that purpose, would be marvel of improyl-
dence and unthnft such rs the Prodigal Son,
in the heyday of his Wildcats sowing, never
came within sight Of.
We shall pass no hasty Judgment on these
radically diverse propositions though our pri-
mary impulse is To 90 with the would-bo
debt-payers rather than those who would
have us get ont of debt by fiist going IN sew
eral millions deeper. We have personally tried
that way repeatedly, with very poor success.
We incline not to lead the State further
into it.
On one point, all tho reports (unless our
hearing Of them has mislcd us) substantially
agree. They would have the Convention or
dain that the Canals shall nerer bc sold nor
even leased. Why not9 Suppose they could,
under proper stipulatons, be sold tomorrow
on such terms as to pay off every dime of
State Debt, and thus reduce our taxation by
several mills on the dollar: do you think the
people would not say Amen7 If you do, just
give them chance to settle the question by q
direct general vote