New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-04
REVENUE.
.

II appears that for the year 1873 the sur
plus of receipts over expenditures was
&253.43 90. and for 1874 $521,727 10.
Nothing is included in this statement for in
tercst on the Canal Debt, for which 5000, 900
q year are required, and are likely for many
years to come to I've levied on the taxpayers.
We have next to inquire what is the pros
ppct of revenue for the current fiscal year
The Auditor Of the Canal Department, in his
last annual report, tells the Legislature that III
the first quarter of the current year, which in
cludes the receipts from the Isl of October
until the close of the season of navigation.
there was n falling off in the tolls of no less
than 100000, in comparison with the CORE
spending quarter Of the previous year. This
year two weeks revenue will he lost by the
delay in the opening of the season of naviga-
ton. The state of business, and especially
the condition of the.gIain and lumber trades,
upon which the revenue of the canals mainly
deDends indicates that the heavy decline in
receipts NAV be- expected to continue through
ont the coming season. Tbrcc-quarters of the
entire revenue of the canals are derived from
tolls OIL grain and lumber, aud il is not
unreasonable 10 estimate for the current fiscal
year 80 large falling off III the receipts from
these two articles as to bring the gross in-
come down 10 ~ 900 900, which in turn will
become the limit to the expenditure for super
intendcncc and ordinary and extraordinary re-
pairs for the year 1876. The recommendation
of the Canal Board is to reduce the tolls on
grain and lumber one third. which will be
pretty sure TO bring the aggregate income be-
low 81 100000 sum according to ill past
experience insufficient to keep the canals in
good order.
IL may he said that reduction of tolls will
cause an increase OF business. We grant it,
but We do not admit that the incrcas" of bust
noss viii lie quite in proportion to the reduc-
ton in tolls The through freight per bnshel
on wheat from Milwaukee TO New-l ork 10y
railroad il now eighteen cents. The lake and
canal boats certainly cannot carry wheat for
much less ana make a profit. The tolls paid
to the state Of New-Io'k are now three cents
a bushel from Buffalo to Troy, and it il pro-
posed to lower them 10 two cents. That would
reduce the actual cos! of carrying grain from
Chicago or Milwaukee to New York by water,
say, six per cent. Il it likely the railroads
would suffer their engines and ears to stand
idle rather than mako reduction in their
charges of five per cent, or ono cent per
bIshe, which, on the assumption that thcy are
to have the business if tolls arc not reduced,
would equally give them the business should
tolls b. cut down one-hird ~ proposed
II is also siid that the State is in partner
ship with the boatmen AMI forwardcrs and
there fore bound to protect them from loss.
That We deny. The State has no more right
Il.
il over 10 canal boamcn and grain dealers
than il has to make good the losses Of iron
manufacturers or real estate spectators. The
truth of the matter is. tina, that portion of the
business OF the canals which is derived from
The movement of agricultural products il every
year more aud more dependent on the GucIuA-
tons of the foreign export trade. The con-
sumcrs OF the Eastern and Middle Ststai aIo