New-York tribune., 1873-07-03
THE STATE FINANCES.
APPROPRIATIONS AND TAXES FOR 1873.

APPROPRIATIONS AND TAXES FOR 1873.
STARVING THE TREASURY AND RODBING THE SINK
H,G FUNDS UNEXAMPLED ENrRAyAGANCE IN
CANAL ENPENSEs-THE TAX FOR 1874 TO BE
AROUI SHVEN MIlS-THE RESULT A Dkti-
CIENCY.
tFRoM Tai REGULAR CORRESPONDENT OF THE TRIBUNk'i
ALBANY. June 23.--The financial legislation of the
session just ended is improvement on thas OF pre-
ceding years in the points of completeness ana econ
nmy The one defect in 1t is the omission 10
levy any tax TO make good the denclency III the
amount of taxes levied for the current year by the
Legislature of 1872 the proceeds of which taxes will
fan about 81 900 short of meeting the appropria-
tions The deficiency would have been still greater
had il not been that Senators d. P, Wood and
Lowery succeeded in getting through Supply bill
which appropriated about S15OOOO less than the ma
jorty IN both houses wished to disburse. have al
ready described how this done, through the APP
pointnent on the Conference Committee bv Senator
Alcu temporarily presiding over the Senate, of Mr.
I.owery instead Of the nominee Of that faction OF
the Senate who have in the vulgar phrase, run the
Lieutenant Governor during the session. Mr. Wood,
lowevor, must take the responsibility of cutting
down the taxes and thereby embarrassing the Con-
trolleU to such degree that he will be compelled
for two years more in order provide funds to re-
sort to measures winch are neither constitutions
nor IN accordance with sound financial principles
Appropriations heavy-taxes light. These were
T,yeeds mayims Reform Legislatures might as
well abandon the attempt TO run the Treasury on
them As TO $50 Of the 160 Senators and Representa-
tives II is unquostionable that they had not the
slightest knowledge whether the taxes were put high
enough OF not. Mr.. Wood could have made them
right and would have done so had he not been afraid
OF the Outcry against high taxes, which might have
been used with some effect against has party IN the
approaching campaign
1.-THE GENERAL FUND.
Except appropriations for the canals. common Schools
Interest the funded debt and contributions To sink
ing funds for the payment bonds OF the state at
maturity, all payments from the State Treasury are
made from the general Fund" so called In the same
manner aLreceipts except from canal revenues canal
taxes school taxes and for tho exngushment OF
the funded debt. paid into and make part OF the
General fund 1t Will be instructive to inquire into the
management Of this General Fund by the Legislatures
OF the last years The iund is dependent Tor It's
Income chiefly Oh the taxes levied each year for its sup
port Independent of taxes however 1t has an annual
income of about SOOeOOO from State Prison earnings,
auction duties salt duties various fees and the assess
mems made on railroad, insurance, and banking com
panes FOR the expenses departments of the State
Government having supervision Of them. II the taxes
are inadequate the appropriations the General
Fnnd Will run behind.
GENERAL FUND DEFICIENCIES.
The following hgures taken from the Official reports OF
successive Controllers show an alarming growth of
Hosng Indebtedness and that too direct violation Of
Article WI section 10 OF the Constitution, which reads
~ follOws:
rne state NAV 10 meet casual deficits or failures in
revenues OF for expenses not provided for contract
debts. but ,ucn debts direct and contingent, 5ngy or In
aggregate, shall any time exceed one million
dollars
Except as above specified, and &" to repel invasion,
suppress insurrectOn. or defend the war;"
debt be contracted by behalf Of the State, un
no yia uhrLr
the act creating 1t having further be sanctioned by
majority Of the at general election. COn-
stitution. Article VII. Section l2.
~ M. 49, ~