The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-01-06

Surplus revenues" three million two hun
dred and ninety.three thousand three
hundred and one dollars and thirteen
A0ul.ts SCI apart on Article Seuen or me Consti-
tuition, cix.:-
To Sinking Fund.- under section /, ore mil
lion seven hundred thousand dollars 81, 700 900
To Sinking Fund.- under section 2, three
hundred and fifty thousand dollars. $4,000
To sinking Fund, under section 3, one mil
Lon one hundred and sixteen thousand
two hundred and forty-two doIlars...... 1,l16,2a2
For the support OF government under sec
ton 8, one hundred and twenty-seven
thousand and nfty-eight dollars. 127,05S
Total. 50, 200, aoI
CttlldI DeOt raging interest 30th SEPTEMBER 1868.
Annual
Principal. interest o..
Under art. Z, sec. ], OF
the constitution. 49, 200 Sill, 535
Under art. I, sec. ,, OF the
constitution. .l0,324, 100 6lo,196
Under art. z, sec. IL, OF the
CONSTITUTION ................. loo9oVo lOl, 100
Total. .sl4,aS9, 500 ssal.s3i
There also ten thousand one hundred and sixty
dollars OF canal debt, which sum IL past due and
does not now bear interest; this Ii included in my
previous statement OF canal debt.
The aggregate balance OF all tue sinking funds APP
phcable to the canal debt the Treasury and tenn
porarly invested on the 3Jth OF SEPTEMBER was four
million seventeen thousand two hundred and
thiry-two dollars and fortythree cents. These sink
ing funds are pledged for the payment OF the interest
and the redemption OF the principal vi the several
debts and loans incurred under sections one, three
ii
the construction and enlargement OF the canals.
The application OF the above balance to the several
debts Tor the payment OF which these funds have
been provided and set apart would reduce the above
outstanding Indebtedness to the sum Of ten million
three hundred and seven thousand nine hundred and
twenty-one dollars, as VIII more fully appear from
the following statement
i Ssa.ss z s. sssi S Sss ss: e
g. lss s' s. ,ssSsssS .,.s sa pssi
the coasii,aiios. .:.:,;sas4o,sso sssis,oss =
,ss communion i; iasasiO' iisass' sa'ls's
the constitution. Iesscco s7ssss 1884
Total. ..si4as9.oso s4M7,as7 eio3N. y7i
II win be seen from the last statement which Is
made up by the Canal Department, tnat the total
hundred and ninety three dollars IN excess OF the
amount previously stated by me. The first state
tion OF this discrepancy Is as foll0ws:-
The canal debt. under section OF article
TOT the constitution Is two million two
hundred and forty thousand eight hun
dred and sixty dollars. FAC, 500
The sinking fund II two million three hun
dred and sixteen thousand aud fifty
three dollars. 23l0soo5
Excess OF sinking fund over debt, seventy
five thousand one hundred and ninety
three dollars $I5.lH3
which the Comptroller has Included In the sinking
canal debt and which the Auditor does not include
The amount carried TO the sinking fund. under
section one IL fully sufficient TO pay the balance due
OF the canals and known the Canal Debt OF 1885,
The extingushment OF this debt makes further an
nual appropriation " one million seven hundred
thousand dollars no longer necessary and enables
the Legislature TO apply the surplus revenues 10 tue
immediate payment OF the General Fund Debt anu
Enlargement Loans In accordance with the pro-
visions OF sections two and three VI Article seven OF
tic constitution.
The Auditor Of the Canal Department reports that
the balance due on the General Fund Debl for the
| payment OF which the canal revenues are charge
able, Is four million i've hundred and hfty-four thou
sand six hundred and forty-seven dollars. The an
nual appropriation OF one million i've hun
| dred thousand dollars hereafter required by SAID
section two win be sufficient to pay the principal ana
accruing interest OF this debt la than four years.
The debt contracted by virtue OF the provision Of
said section three for the enlargement and compile
ton OF the canals amounting, on the 30th or sep
TENDER last, TO ten million three hundred and
| twentyfour thousand one hundred dollars, natures
on an average IN less than six years. To supply the
sinking fund with the means TO pay the interest and
redeem the principal OF this debt as 1t falls due will
i require an annual appropriation Of two million
three hundred and forty thousand dollars. Funds
have been provided for the payment OF all outstand
Ing claims and liabilities against the State, except
such as may have arisen during the last year for
awards made by the Canal Appraisers for lands APP
proprated or occupied for public purposes Tie
amount OF business transacted upon the canals,
their general condition, management and SUPER
vision compare favornbly with any previous season.
. Tbeir revenues have been nearly half a million in
eycess OF those OF 1867, while their current ex-
nenaea for care, observation-disclosures aud ordinary rc.