New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-07
State of New York,
Executive Chamber.
49, January q 1904


gratifying Our receipts are nearly equai 10
payments. and with the large surplus on mana
n needs only prudence and wisdom upon the
part OF the legislature to make unnecessary
direct tax for the ensuing year. Inc oondeo
debt Of the State is S9G61bbo II from inns
We deduct the sum Of S30I4 500 90, now in the
sinking fund and available for the eNtlngulsh-
r7ent q this debt the net bonded obhsauon IS
f,.f Sc 5ol 0o3 81 II will he necessary at the
present session TO provide for the payment OF
$4,000 Adirondack and 100000 OF public de-
tense bonds which viii become due during the
next fiscal year.
The total receipts into the state Treasury
from indirect revenues were $50 'SoZ 81 ana
from al other sources 81 961 60 AZ. total OF
S24 800 49S 20 The total payments were SD
346 723 q, showing a deficiency in receipts or
but S37,224 -. The actual cash balance on
October ]. 1908. S1O.l92,629 IA If from
this We deduct all appropriations in force on
September 50 1903. the free balance for the
surplus, was October l, 1903. SS562,211 50,
a sum sufficient TO guard against unforeseen
contingencies or lessened receipts from sources
which are liable TO fluctuations.
CANAL IMPROVEMENTS.
The adoption of the referendum for the en-
largement OF the canal system OF the State
brings to US responsibilities which call for
sound judgment and conservative treatment
The policy of the State having been determined,
neither factions nor personal opposition should
hinder its fulilment. Unnecessary delay is as
undesirable as undue haste. businesslike
treatment OF every detail is demanded. Nerih-
important and difficult portions or the Work
by actual bids should be obtained at once l
advised that the surveys already made VIII
permit an early submission 10 bldcers OF plaIs
and specifications for some OF the most costly
sections. The Expert Board provided for in the
act Will be soon appointed by me. nope 10
take such action this initial period of the
work s will take the whole project out or po-
litical surroundings. Merit should and will
be the sole test in the selection OF its individual
members. That the board may be unhampered
in its work II is desirable that the terms OF Of
fee OF its members should be concident with
the period OF construction. ana that removals
should be for only upon charges duly
sustained. Thus safeguarded and working
under the restrictions imposed by the statute
and in harmony with the States officials, this
board can be relied upon properly TO protect
the States interests. The change IN route the
abandonment of the present canal in part. the
purchase of other property, should receive care
ful attention To this end should not alone
purchase the land necessary for the canal itself
but We should also secure such releases as VIII
minimize the claims which may arise as the re-
suit Of its operation. a board Of appraisers OF
say three members should be authorized 70
effect settlements with owners and thus bring
down to actual figures and certainty that which
at present is at the best but mere conjecture.
Every detail having been provided for, and
the accuracy of the estimated cost Of the work
determined, there will then come the positive
knowledge that either the canal can be COM
pleted within the sum authorized or that
necessity exists for greater expenditure All
OF these precautions will not delay, but VIII
Their hasten. the building or the canal ana Will
a,so serve 10 allay the fears of all and inspire
confidence IN the administration Of the work
II I firmly convinced, no mistakes have
foen made. then the most important subject
let for the consideration of the legislature Is
that Of providing ways and means for the
raising of the money TO be expended. While
TIE referendum provides for yearly direct tax
a~l the payment of the debt in eighteen years,
! sure that the general expectation is that
sore other method may be devised. To return
either 70 direct tax seriously TO disturb
twisting tax laws is far from desirable. New
ok with it's vast interests and wealth. has
resources which would seem TO make II almost
profgate of funds TO burden the people
with unnecessary interest charges. The present
law proposes 70 pay in eighteen years for in
terest S54.540.0U0. If the period be extended to
fifty years the expenditure for the same pur-
pose would be S151 100000. The principal sum
IN both cases Is in addition 10 be provided for.
What is il Ne seek 10 escape and what bene-
fits do derive from this absolute waste of
public moneys? New York has a valuation Of
nearly S6o00o00O 0G. One hundred and
millions Of dollars is probably one Of the great
est sums ever appropriated for a single public
work, and yet il in the wisdom Of the legisla-
ture IL should be all levied and collected in a
single year. the tax would be but S1112 per
thousand Of valuation While this sum IS large
for State purposes, yet there few munich
palities in our commonwealth that can boast Of
go favorable local tax rate II the expendi-
ture were spread over ten years the probable
period Of construction, the yearly tax would
be 81 Il rperr Thousand