New-York tribune., 1873-01-08

tof
ra.v,re .urn,us of ...............s1 81 2o2.5u IS
The surplus would have been larger by the sum oi
5771sl 3s but for deficiency 10 that amount IN inc
revenues OF the lateral canals 20 meet the expenditures
upon them It hardly fair TO them to consider the
real deficiency quite large, for they have, no douD
brought to the Erie Canal products which would not
otherwise have reached it, aud the tolls coectt on tuc
transportation of these products ON the laJter sou
amount Nevertheless the lateral canals fan 10 ylelu
sufficient revenue meet the sums expended for Keep
ing them in operation and have always drawn largely
the state Treasury 10 supply these deficiencies. ln
traordnary In the Controllers report there VIII
be found full statement OF expenditures for the eanas
including ordinary and extraordinary repairs ana new
work for the year ending seth OF september 1872 ana II
viii be that the total disbursements on all OF tnen
in OF all income amount u Sl35i5oi uecieu'y
to be met by loans or taxation. -
For nearly half century the Erie Canal has been one
OF the chief commercial cOnduits between the city OF
York and the Western States and Territories, ana
until the introduction of railroads was the sole channe
OF communication between them II has added incacl
lably wealth Of the State and TO the convenience
OF its inhabitants and has been justly regarded as one
OF civilization at the time OF ts completion was Win
meonsderable exceptions this sde OF the Misssipp
population the surface which was then
only marked by rude and widely scattered setenents
poratOn Of passengers aud lighter products OF industry
the latter still relied for moving bulky articles
yield large a they earned before the Dus
ness OF carrying was shared with the former. While
which penetrating the West, Tor the purpose OF
carrying on its commercial communications with the
seaboar may reduce the rates OF transportation TO the
lowest standard OF profit there - always
possibility that they may, by comDlnations, ad-
fair compensation. Partial agreements of this kind nave
than once been made but they have usually been
short duration through breach OF aith by some OF
the parties for the purpose OF Oyerreaehng ana gaming
an advantage over tie otetS a. 5n m .s po1o , ~ o Con-
troll OF the canals and 70 hold them security 20 ts
inhabitants against the possible consohdaoh OF other
Of AT fDu
OF the rates OF transportation Which, without
such controI might be iudefiuitey and oppressively
increased II Is scarcely be doubted II the State were
part with the Erie Canal that would soon pass INTO
the hands OF some great railroad corporalon and hle
people would have check the imposition or exOr-
bitant charges for freight While therefore we appre
ciate the immense Importance 0f the railroad system IN
ministering comfort and prosperity IN stimulating
growth and adding to our wealth, ana w1lle our
would IN my judgment, be extremely unwse % disarm
ourselves Of the power 10 protect he people OF the state
against contrivances to which great corporations
but prone TO resort for increasing their profits for
getng that the principal object OF their creation s 20
promote the welfare Of the community at large ana not
the interest OF their shareholders.
order render the power OF restraint more enec-
portation OF heavy freight from Buffalo 70 NewYOrk by
the Erie Canal should be reduced hat 10 not IN
au great gree differ from that needed for the transpOr
tation like freight by rail- But the question Of more
rapid transit involves other and higher considerations.
m the time taken for the TRANSFORMATION OF a cargo
from Buffalo New York be shortened from II days
10 five, there will be saving OF nearly twO-thirds III
certain items OF the cost suGh anut9n M o, g me
& al ftTed bV the law Of 1sS5 and fer
ward recognized by the constitution. that H. 70 feet
in width and seven feet in depth Though II was de-
ciared in 1862, be completed IN accordance with
me legal and constitutional requirements referred
70. il IS well known that, by the accumulation
M earth in the bottom Of the canal II does not possess
through It's entire extent the required depth These OBJ
structions should be removed speedily possible, in
order admit the reer passage OF boats and 10 ac
tate Of the experiments recently made.
der OF the Legislature OF April %. 1871, with
view Introduction or steam motive power.
n a
doubt ultimate OF those experiments With
ont an impeacnmenr OF the Ingenuity and skill Of our
inventors and engineers altogether unwarranted by
improvements they have effected In the past. To
complsh the greatest attainabe rapidly OF transit
from the upper Underwater. ana TO create the
possible disturbance OF the water OF the canal,
change will be necessary IN the form Of the Doas EN-
pOyed in this service by making them sharper ana tins
viii diminish their capacity and increase the cost OF
transportation To obylate TINS last OpJecu0n IL has
suggested that II Is possible U lenghen the locks
by the Introduction OF gates Of different construction
thus enabling the boats 70 receive the FORM necessary Tor
rapid transit without any dminuton OF their carrying
power. am not prepared 70 say whether TINS improve
ment IS feasible Dut you may IA view OF lts importance
IL advisable 10 require the state Engineer % re-
port whether IN his opinion, II Is Practicable and so,
AZ what ana within what time,
Our neighb0rs in Canada are making arrangements 20
enlarge the Weiland and 81 Lawrence Canals 30 as 70
admit or the Passhge or steam pr0peIefs 0t go 20 lVJ
from the upper lakes u The uf OF ST. Lawrence
without transhlpment Is not the sole oDlect OF this
Improvement u into channel the trade OF the
West seeking outlet 70 the ocean but it cOntempates
also freer intercourse between tner people upon
the great lakes anu the CITY OF New as the most
convenient and during portion OF the year, the only
disc the purpose of exchange. With tins view pro-
ject is on foot 70 ship canal from the st.
Lawrence into Lake Chanpan, 80 that vessels VI the
same class may reach HlhtehaA WlthOut unloaung
The further hope Il no doubt entertained that the
ChampIain Canal may al some future day he en-
Idrgcd 50 as 10 constitute cuAlhuOus Auc oi Trans
pOratou propeers from Duluth at the western
extremity of Lake superior 10 the City OF NewTOrk
We need not lear that any new facilities which may De
afforded transportation 70 and from the West will dis
pense with seriously impair any existing line OF com
mnnlcau0n. Inc RAPID CROWN VI tue western states
and the constantly Increased demand for additional
plies OF agricultural products the hand and manu-
iactures On the otler VIII TAX 10 ther utmost capacity
all the channels which can be opened for this extending
traffic.
All these considerations address themselves 70 us with
great force in favor OF giving 10 the EIle Canal the di
channel or communication from the great lakes 70
tide water. its prescribed dimensions. trans
port products 0 the West the
erity. The suggestions have made IN regard 30 the
preservation Of the Erie Canal apply 10 the Oswego and
Champialn Canals, Weh are Indispensable parts OF our
system OF internal navigation.
FUNDING THE STATE DEBT.
In direct connection with the foregoing suggestions is
the question which has largely occupied, during
two years. attention OF the public and Of
concerned in commercial exchanges, of funding the
canal and general fund debts and providing an
of five per cent stock redeemabe at the end Of 10 years
with provision for the payment OF the annual interest
of the canals for the redemption OF the stock
at its maturity. The proposition 10 have met
with general acceptance and respectfully ask for II
your favorable consideration with view present II
10 the people for their decision under the form of
amendment OF the Constitution. II t IL adopted, the
general fund debt created for the benefit Of the people
large will be paid by the canal revenues and in this
point OF view Will commend itself to the approval OF
the portions Of the State which have direct commu
ncaon with the canals and only an indirect interest in
maintaining them.
There consideration connected with the creation
OF the sinking fund in this issue OF stock is SUBJ
mited 70 the people and favOraby considered which
desire 10 press with than ordinary
your attention sinking funds are IN their nature,
solemn pledge OF faith 10 creditors for the payment OF
the debts due 10 them To borrow their credit
for other purposes or IN other words TO make them the
subject of any other pledge or to make temporary
Of the moneys securities Of which they consist
a clear violation OF the pledge originally given. IL ap-
pears 10 that this deduction OF common cannot
he inYhlldnted Obscured by refinement