New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-01-07
rONiDg on the credit OF the bInklng Fund.
INCOME AND EXPENSES OF THE CANALS.

s. the 1s OF DC oDer 1874 and funds were pro-
vded the redemption Of both sums in by Dor
rowing on the credit OF the Sinking Fund-
INCOME AND EXPENSES OF THE CANALS
Although the gross income from all the canals OF the
State the last fiscal is less than that OF the
cedng year. the exhibit of the income and expenses
shows o gratifying result Tie gross receipts OF the
last year 292,72 IA for tho 1873 they
saO2627 49, being decrease deacieno, for 1874.
compared with 1873 OF 500 500 OK; but the income In
cess of all disbursements for the past year is s453 ~
while the year 1873 the exceeded the
income by t17623 3d. showing actual Increase In the
revenue from for the past fiscal year
that OF 1873 OF s0i3S8 49, There rs TO doubt
that the canals will continue to DO the source OF in
and increasing TO the State, IL the
penses OF superlntendeRce and repairs are Kept within
reasonable and proper limits. The great drain on the
has been the expense OF maintaining what
known the lateral canals. Tue question has been
mooed whether these canals ought NOT to be leased Sold
Abandoned but hitherto the Legislature has had
discretion upon the subject. The old Constitution pro-
they should remain tue property Of the State
and under its management and control forever. The
Constitution, as amended applies that restriction only
TO the Erie the Oswego tue Champsin aud the Cayuga
and Seneca cSnas and leaves with the Legsature
power to sell, lease or abandon any all the Others.
II by certain that 1t would good policy or
sound wisdom 10 sell or abandon OF those canals;
while such would relieve the State from tho
burden Of large outays for which there is direct
turn, 10 would, the other hand interrupt close
channels Of communication vaua hle TO considerable
TONS and might further njure Industries which enter
tons present question OF grave importance, which IL
for the Legislature to determine. II apparent how
not subjected to any expense account thereof the
canals named in the Constitution will yield very
large net Looking only TO the maintenance OF
the canal system and the extngushment OF the canal
debt such result would greatly simplify the problem.
The State did construct her great artificial
ways with the view OF making them OF profit.
but rather with q statesmanike perception OF
the importance OF afordiug needed outlet 70 the
produce OF the West, and of promoting her own
commercial growth. But tho people did oontem-
plate that they should not DO tax upon the State. aud
the debt incurred In their construction we'll as
the of their should he paid from their
revenues. The attainment Of this result which, while
ducing the public burden, seems practicable at no
distant day, would permit the still further reduction
tolls TO the point where they would yield only suciens
10 Fay the expenses OF superintendence and repairs.
aud the canals OF the State would become substantially
free for the vast commerce which seeks transit
from the fields OF the West 10 tdewater. Ia this con-
nectop another factor Of the problem rises into mpor
tanoe. II demonstrated think with reason
able certainty that steam can be successfully and
economically used as the motive power for boats the
canals The reduction Of the time OF transit TO
hail. lees, and the reduction OF cost in almost
proportjonate degree, will put new face upon the
whole subject OF canal navigation. 1t promises DO
serve aud increase carrying trade. The general
adoption OF steam power will demand that the canals
shall be improved and bottoned out, and action
with reference 10 the future this necessity should DO
borne In mind With the aud time OF ing greatly
Diminished through this efficient motor, with the
debt extinguianed and its exaotons removed at an
early day. and with tolls reduced 70 the mere re-
qurement OF actual running expenses there will DO no
mode OF transportation for bulky freight especially
that can aucce ssfully compete with our canals As
bearing upon question OF the abandonment OF tho
lateral sADAs the following statement gvso' SHOWING