New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-05-29

ono dev;ce or another to carry On 'hc
government of the State upon. credlt' ieaV-
ing the future to provide for the de''cionoy
The deficiency bill introduced by Mr.. Ai'oru
during the session that has just closeu, was
dos;oned IN remedy the failures OF the Legis-
Iotures of 1870 and 1871, but though 1t appro-
,'r;otos over six millions and half of dollars
IL will not be enough to balance our coos'
There has now been an annual uohoiO ,o
eleven consecutive years. In loO2 IL a,oun'ou
to s67syOOO; in 1869 it had reached inc sum
of $4,000 600; and since then IL mas III
creased at q most alarming rate. being
az $40 600 in 1870 S9,378,OO0 in 1871 and
Ell 100000 in 1872. Our correspondent shows
that it must be large again In 1873 Inc
revenues estimated from taxation, canal toiiS'
State prison earnings, and all other Sources
amount to S17,05S,125, the expenditures 10
S1s. 1872. t39; 30 that if we should clear OIL all
the past indebtedness we should still have
fresh deficit of over S1,7OO,000 on the transac-
tons of the year. merely because the Legs
Iature has neglected to cut Its coat according
to its cloth.
OF course the accumulation of debt means
the accumulation of interest, and 1T VIII cost us
more to pay this 81 100000 year hence than 10
pay it now. The six and half millions provided
for by Mr. Alvord's bill, If they are raised by
the issue of bonds will add considerable sum
TO our taxes for the next twelve years, in the
item of interest, for which the State will have
received no equivalent, and it will certainly be
no easier to pay the principal III 1876, IN 1884,
and in 1884, than il would have been In 1871
and in 1871. But it is not only by increasing
the interest account that Tammany financler-
ing at Albany has done us mischief. The sink
ing funds have been drawn upon to meet the
current expenses of the State, and it is Ill this
way that misleading and practically false
representation of the debt is made In the GOV
| ernor's annual message. In 1870 the SINKING
funds were impaired in this way to the extent
of S4464,S26, and in 1871 they were diminished
| nv S6.822. III, to meet miscellaneous dehclen-
cies. The violation of law involved in this
diversion of funds from the specific purpose
for which they were created is too plain to re-
quire comment.
IT was one of the chief duties of the Reform
Legislature to restore order and sound prln'
ciples of management in the State Treasury
| which the stratageIns of the Tweed regime
had thrown into such confusion. But IN the
session that has just closed almost every hope
of honest citizens and every profession OF
public virtue with which these Legislators
went into Office was set at nOught The Gus
tom-house influence which ruled at Albany
this year has been little less mischievou'
than the Tammany influence which it sup
planted, only because it had fewer opportuni-
ties and less extensive practice. But it has
reformed nothing. 1t has broken up NJ
abuses. 1t has regulated no disorders. Il
leaves our finances in the same confusion IL
which it found them, and it has forced the
State to go on in ruinous course which must
soon affect its credit and embarrass the opera
tons of its Treasury.