The New York Herald Newspaper, January 8, 1852, Page 2

COMPTROLLER OF THE STATE OF NEW YORK, in pursuance of the requirements of law, the Com [roller rel ly submite to the Legisla- ture his Annual pecs. This report, by the 1st section of chap. 350 of the Laws of IB47, isdirected to be made the ex- piration of the current calendar year, and for the ear ending on the 30th of the previous Soptember, Bereta Se ieebented to tks Legislanere imine: caer after the commencement of its annual ses- D. ‘The funds of the State have from time to been divided as follows:— Nee The General Fund. The Canal Fund. The Common School Fund. The Literature Fund. Path rte See Depoeit Fund. lee the foregoing, we have the following Trust Fonds :— 7 The Bank Fund. The Mariners’ Fund. The Tonawanda Railroad Sinking Fund. The Auburn and Rochester Railroad Sinking ‘und. Pog Hudson and Berkshire Railroad Sinking ‘und. wae Long Island Railroad Company Sinking ‘uni The Tioga Coal, fron Mining and Manufacturing Company pining ‘und. oe School and Goepel Fund of the Stockbridge the interest on the bonds ians. The fund for payi: York and Erie Railroad Com- iseued by the New Feary; and | Indian Annuities. The ordinary expenses of the State government are paid out of the General Fund. Its nature and objects are defined and regulated in part 1, chap. 9, title 1, pages 198 to 211 of the Revised Statutes, 3d_edition. The statement next following shows the receipts and payments into and from this fund, during the past fiscal year; and the next succeeding statement shows the general condition of the Treasury for the eame period :— GENERAL FUND. REVENUE. Balance in the Treaeury on the 30th September, 1860........ Amcunt received into the Trea- & tury on account of the General Fund, during the year ending on the 30th September, 1851, (eee statement A.)........-++ Amcunt transferred from the General Fund Debt Sinking Fund, for interest on moneys advanced from the Treasury 2 nor the demands on that UD sree eecereeeese $54,421 38 $58,175 48 5,807 68 Amount transferred from the Bchool Fund for bonds for lands received during the year belonging te the general fund to the Bchoo! trancferred Fund... Ameunt of warr the Treasury, remaining un- paid on the 50th Sept., 1851.. 5,848 76 482 91 $925,836 10 Amcunt of warrants drawn on » the Treasury on account of E the General Fund, during the year ending on the 30th Sep- tember, 1851, (eee ieee 890,840 30 Amount tral lowing funds for interest on Treasury deposits, viz:— School Fund.. $11,476 37 VU. B. Depoelt Fund. €429 21 Bank Fund... . 989 25 Amount of warrants drawn on the Treasury which remained unpaid on the 30th Septem- ber, 1850 18,864 83 277 OL ——————- 910,082 23 Balance of revenue in the Treasury on the 20th Beptember, 1651....e.ceceeeeseeeeee $15,753 87 STATE OF THE TREASURY. Balance in the Treasury om the 30th Beptember, 1850 + $508,932 26 Amount received into the Trea- sury, OB account of the reve- ral funde, (see statement A.) during the year exding cn the 0th September, 1851... .... 2,500,487 56 ———— 2,800,369 81 Amount cf warrants d: the Treasury, on the several funds, (ree state- went B ) during the year end- ipg on the 3@th Sept., 1861... 2,001,526 50 Amount transferred to the Bu- rintendent of the Bankiog Department, being the talance jm the Treasury belonging to the Bank Fund, on the 28th June, IESL....ceeceseceeesese 26,019 60 Amcunt of Warrants drawn on the Treasury, remaining un- paid on the 30th Bept . 1850.. 277 01 ——— 7,828,723 01 Lees amcunt of warrants crawn on the Trea- fury, remainirg unpaid on the 30th Sep- tember, 1861)... 482 91 2,328,240 10 Balance in the Treasury on the 30th Septet Der, Avo cael catacssviccs Gilt TL STATEMENT OF BALANCES DUE FROM AND TO THE TREASURY on THE 3¢TH BE YTEMPER, 1861, To the Fchoel Fund: , 1851... . $112,548 13 198. 4 306,079 64 To the Literature Fund : Capital . woes $3,063 78 Revenue 10,351 80 ———— 15,415 68 ‘To the U. B. Deposit Fund: Capital + $94,429 02 Revenus. 5,386 21 —— 39,816 13 ‘To the Mariners’ Fund ........ 144,223 79 To the Railroad Sinking Funds, viz: Auburn & Roch’ter, $6,801 17 Tioga coal, & 7.5% 21 15,758 87 To the General Fund revenue... From the General Fund Debt Stoking Fund... eee From the Treasurer, for bel in the Trearury......... 526,813 12 $46,€85 41 481,129 71 626812 12 These statements show that the expenditures from the General Fund exceeded its income, the past fiecal year, $38,767 41. : During the year ending 30th September, 1850, the payments from this fund exceeded the receipts by ,757 94, adding another item to the mass of testimony found in out records, of the constant ten- dency of the appropriations to overreach the reve- nues of the State. But as the fiscal affairs oon- nected with the general fund are now organized, a reasonable certainty is attainable as to iscome. The eum receivable ‘rom the Canal Fund is fixed: that to be derived from taxation can bé ascertained with ccnsiderable exactness; and the auction duties and minor sources of revenue, applicable to this fund, do not vary so much, from year to year, ag to subject the appropriating power to very se- rious difficulty. but so numerous are the objects of utility or State pride soliciting pecuniary aid, and such the increasing strength and the prosper- ous condition of the State, tbat it requires a vigor- ous and manly firmness, to keep within the bounds which a rigid and faichful guardianship of the pub- lic money would seem to impoi Detailed state- mente of the receipts into the treasury and the piy- ments therefrom, are found inthe appendix marked A and B A subject closely oonneoted with our State finan- ces, and one of most commanding interest, is taxa- tion. How to so equalize the pressure of the pub- lie burthene, as to do strict justice to all who aid in sustaining them, has always been a matter of anx- jous inquiry in enlightened governments. The general principles we have decided on, appear to be spprobated by the great body of tax payers: a watchful attention to points of detail is indispen- sable, if we would perfect the system already adopted. The amendment passed ast winter to our sesetsment law, among its other good effects, bas excited a spirit of active inquiry on the part of our assessors, in regard to particular points of their efiicial duty The poeition of these officers has been for many | ears past, one of grievous embarrassment — | White urged, on the one hand, by high moral | contiderauons, to the conscientious performance of a duty not only important in its consequences, | but imposed upon them by the solemnity of an | official oath, they were restrained on the other, by | a full conviction tha‘ a rigid performance of that | duty would inevitably iead to great injustice. ‘Their deviations, therefore, from the strict rules of apparent right, had at leest the apology that they wee made upon the principle of seif-detenee ; and, under all the circametances of the case, it is not surprising that thie was generally considered by them as tbe “fire ’ It is exceedingly grati- fying, however, that there appeare to have been, since the passage of the act sbove referred to, a | determination among ¢ officers throughout the State, with few exceptions, to abandon, as by general consent, the demoralizing avd vicious prac- | lice of greatly undervaluing real property, aod to | make their extimaies of it, by, perhaps, the safest | and best matured, because moet uniform, rule that can be ted, at wh their sober judg- ment eto be in the language of the act t value.” ‘TI Comptroller bege ivave ect the attention of the Logralaty to pune porDte embraced, or Wuien be dend, ip our asopsment lon, aud which ore of the department, during the- seasen. A g these inquiries of assessors, there hss almost ‘been a request that be furnished with the pamphlet con! the Fn pen aceon Tp a eeldprdoT 9 or Sue an 0! tl some few odditisns, would go far te ocel and fect the practical improvements so well begun urin, Ge ue wenn. ae not only ex: Sy desirable that such a manual should be p! in the hands of these officers, but a more general dis- tribution, in an acceptable form, of laws so directly concerning every citizen in the State, would seem to be among the very first duties of those having the direction ef these affairs. One of the subjects of taxation on which infor- mation has been sought, is Ramroaps.—There are several considerations connected with the assessment of railroads, which de- serve, and will, no doubt, soon receive, the attention of our Legislature. The amount expended in their construction is already very great, and continually increasing. The expenditure of this immense capital in this manner, much as it may benofit the community by increasing the value of pro- Property, facilitating the trade and commerce of country, and nn extending the plea- sures and benedts of social intercourse, does not, however, exonerate it from liability to just and rea- sonable taxation. In what manner these taxes should be imposed, to be thus just and reasonable, may not be casily determined. Some methodshould be devised for ascertaining their fulland true value. Then a question arises, as to the nature of the pro- perty to be assessed, and where it should be assessed, and in what manner. That the fair and true value should be put apen this, as wellas any other property, real or personal, admits perhaps of no seri ous doubt; but neither the stock which may have been created by tho compan; fer its construction, nor the actual cost of the road, determine its value. Some of our railways are krown to be werth, and will command in market, far more than was expended in their construction; others will command much less. How, and by whom, then, shall their true value be estimated! Certainly this cannot be conveniently or satisfac- torily done by the assessors of the towns which may be interested in this question. Shall the duty be assigned to county or State ofiisers; shall some in- dividual or body of individual: be charged with this duty; or shall the returns from the corporations be made the ground of procedure inthe matter? If the latter, it becomes important that the law be re- viewed in regard “to the facts to be embraced in those returns, and measure: taken to secure the unctual distribation of those fasts among the joards of assesters. As to the kind of property to be assessed in the respective towns through which a railroad passes, there may be some diversity of opinion. Hitherto, the personal property of the corporations has been assessed where the principal business of the com- pany has been done. In addition to money in hand, our railroad com- panies all have a greater orless sum vested in cars and engines. These machines are used continually ontbe roadin its whole length, and not like the goods ofa merchant, or the capital ofa bank, in some one place exclusively. There are various rea- sons why itis more practicable to diffuse the bene- fits of this tax among a large population, making many towns instead of one, the recipients of what- ever advantages result from it, than it is thus to diffuse the tax on the property of some other corpo- rations. By adding the value of the engines and cars to that of the road, in making the valuation, and dis- tributing the tax on the aggregate among the towns, school and highway districts along the line, one of the annoying inequalities of our system of taxation is avoided. The manner in which the tax should be levied, deserves come thought. The town or district in which heavy expenditures in depots, cr upon struc- tures of various kinds, have been made, almost in- variably claims an excess of tax corresponding with the excess of such outlay; se also where much more earth is used or occupied on account of the road, an increase of tax is claimed for that reason. And again, when the road passes in a direct line through a town, such town will complain of a rule apportioning the tax by the length ofthe line of road, because other localities ine largely by that rule in consequence of the windings and curvatares which very much lengthen the line within such lo- cality. ‘After some reflection on this subject, the Comp- troller has come to the conclusion that the railroads in the State should be estimated at their “full and true value,” as property generally is directed by law to be estimated; that the moveable or personal property-of the corporation sheuld be added, (ex- cepting, perhaps, the money on hand,) to the value of the railway itself, and that the road thus esti- mated should be assessed in the respective towns and school and highway districts,in proportion to tke length of the line of road within euch town or district. Iysunance Companies —Uniform and precise rales donot appear to be followed by the Bourde of Assessors, i: tuch rules are proscribed by our laws in reference to tuxing these pompent especially such ag are conducted upon the plan of mutual in- surance. It will be recollected that, in the last report from this department (page 8), allusion wa: made to the uppaid taxes levied on several insurance companies in the city of New York, amounting, in all, to up- wards of $100,000. A suit against s Buffalo insu- Trance company, involving the questions in dispute, as to the liability of such companice, was pendin and in progress, atthe time the adjustment referr to in the above mestioned report, was effected. That suit received its final adjudication by the Court of Appeals during the past seacon; the court deciding, among other vee ee thav aii the property of the company was taxable, whicn, in case of in- solvency, would into the hands of a reseiver. The pas ofthe court in this case, not having been published by the reporter, and involving, as it does, a matter of Ves interest, is appended to this report, marked I., 96. After thie decision, it was supposed such of the companies above referred to as were eolvent, would pay the sums charged against them upon the books of the Comptroller. One company only, the Atlan- tic’Mutual, did so; paying into the Treasury $16,914 98. After come tation, the other com- panies declined to pay, alleging gexeraly, as the omptroller is advised, that the case above referred to, was imperfectly ar; and considered, and the decision would probably be reversed on a more thorough examination. The matter is with the Attorney General, and new suits are understood to be instituted against several of the companice A diversity of opinion has heretofore prevailed, as to what should be taxed of the property, of a mutual ingurance company. Assessors sre at & loss, not only whether premium notes should be assesecd, but whether they ehould be treated as debte against the makers, #0 far forth as ‘to justify an exemption of so much other property from taxa- tion. There is, within the State, a vast amount of this kind of indebtedness. . Prank Roaps.—The same questions arise bert as to the distribution of taxes among the towne through which they lead. as inthe case vf railroads. The question as to personal property applies with lees force; still, as theee roads sre multiplying ra- pidly throughout cur country, the propriety of defi- nite legal enactments concerning them, cannot be doubted. MoveavLe Banks.—A certain class of banks within our State, are engaged, from time to time, in changing their location. in many instances the removal of a bank is followed by a oversy in regard to the taxes Ditticultiee aleo arise where & bank ie withdrawing i i which oon- reulaticn, and perbaps the étivute ite cepital, trom the Bank where, consequently, that capi amount to be asseesed, is continually var both theee cages, as well as it some otber! an urcertainty as to the precire time FLen the bank becomes legally chargeable with t Whetker the third J uesday in rection four of the act of 185], is the Ue the sgvessment rolis are left, f tion, in the hanes of one of the aseeosors, or some day thereefter, when the assessors, unde section af the same act, eball have comp roll, and made and subscribed the oath or the day on which the supervieor to whom che rol! has been celivered, shall diepose of the same as div rected in section 27, p. 447, R. S: or still later, when the supervisors, as required in section 37, p. 449, KR. S , shall affix their Vande and seals tu che warrant, isthe exact point of time when the tax may be said to attach to, or become a property assessed; or whether the boar sors and supervisors have the right to give them- selvee the necestary space to perfect the rolls, are questions not known to have be judicated, and appear to be not definitely settled. Ifthe taxagainst a bank is returned se unpaid, see. 21, page 4U6, R.S., maker it the Comptroiler’s duty to hand over the claim to the Attorney (iene- ral, whe is required to institute proceedinge before the Chancellor, &c If»the convenience of the de- ident to these proceedings could be obviated, uiring payment of the tax at once, by the « Department, from the securities in the hands of the Su; intendent, touch of the evil now fett by the counties, and by thie-department, would de prevented or mitigated. The tax, if tt should rove to bave been wrongfully paid, might be Kinded; if not, its prompt payment will have been right and props Fernizs —J ite @ owners of these franchises, in femme case®, spute the legal right to sseese them. They are not mentioned by that name, in the law; cay be that assesso: feeling some doubt as ig & thing so untangible, have, for that rea- tied them. Another, anda more ope: probably i# to be found, in an ass in & conflict of doubtful | rease unwillingness to engage termination The dread of alege! contest on oliver, w wel useostcod, and unscrupulous mea | Dotplow t aval shemselven of it, ie onees the part of public | where uncertainty existe as to what is, and what is not, the law. Gigcnin onl aaa be made to = plicitly, w! taxed, manner of enfoi collection of that tax of the department havii one or two instances, nad their numbers being on the increase, it is deemed proper to among the deserving attention. They are mentioned with particular reference to the manner in which the tax should be collected in case pay- ment is neglected or refused. Gas Companies.—Very recently, an inquiry was made of the Comptroller, by the assessors of a ward in one of our gas lighted cities, whether com: panies were liable to taxation, leaving the to be fairly drawn that one of the companies at lenge had ee been , nasceneis ae ome of the questions here sugg may appear trivial and ate decided; but cea not often skilled in the subtleties of legal construction, and are, moreover, upon to perform an ar- duous, a thankless, but a vastly important public duty. tis due to them that their should be marked, and relieved from all emb: ir duties are highly responsible difficult, and when faithfully end conscient ney performed, no officer is better entitled to the guid- ance of plain and clearly defined legal enactments, than the assessor. MISCELLANEUS SOURCES OF REVENUE. On reference to the last report from this depart- ment, at pages 7, 8 and 9, it will be perceived that several important seurces of revenue, uncertain as to the time of payment, and in some cases as to the sum which may be finally received, are there men- tioned. Some account of the payments received, from thege sources, and of their present condition, is deemed appropritae. 1. The sum due the Treasury on the 30th Sep- tember, 1860, for non-resident unpaid taxes of the years 1845, 1846, 1847, and 1848, was $157,135; at the close of the fiscal year last past, it was not far from $140,000. On the advancesfrom the Treasury for the unpaid tax ef 1819, there was then due $55,319; there is now due on these taxes about $417,000. There is still due on the tax of 1850 not far irom $54 000, making in all, say $241,000; to which. may be added, for accruing interest on the balances, Hy $50,000. 2. Some of the iands in eertain® reservations in Erie, Cattaraugus and Allegany counties, it will be reoollected, were reserved from the tax sale of 1848. The sum in question was computed last year at $91,000. Whether the counties or other parties are legally bound to poy this tax remains still undecided. The claim has been in the hands of the ropes General for about three ane 3. Of the ¢26,000 78 due the treasury 30th Sep tember, 1850, for the amount allowed for the lan bought in by the State, for want of bidders, at the Tast tax sale, there has been received during tho past fiscal year $2,636 in cash for first payments on the re-sales of the lands, and bonds taken for $1,597 50 for other re-sales of the lands so bought in. As has been before remarked, on the re-sale of lands thus bid in for taxes by the State, there is almost bella aloss. This will not appear sur- prising when it is recollected that, in most cases, the former owners prefer abandoning the lands to poying the taxes upon them. . Taxes against several mutual insurance com- anies in the city of New York, to the amount of $106,237 38, were admitted by the late Comptroller under the circumstances explained in his report above referred to, of which the sum of $16,914 98, has been since paid, including interest to the time of payment. nother matter, bearing incidentally on the same subject, is worth considering. Claims are made upon this department for the repayment of a con siderable amount of taxes heretofore for many, perhaps thirty or forty, years paid on lands lyin each side of the line which divides the counties Lewis and Herkimer. This county line has never been run. It passes through a range of lots con- taining from 160 to perhaps 1,500 or more acres each, for the distance of some 50 to 60 miles. The exact quantity of land in each lot, on either side of this line, is unknown. It is believed to have been t, and up to a recent date, erroneously d where this estimate is supposed to have op injuriously to the tax-payer, he now seeks remuneration. ‘The survey of a few lots is_said to have demon- strated some of these errors; but the truth of this demonstration rests upon the presumption, that this county lino must run a given distance from the east and west lines of the lots so surveyed, and must run, through its whole course, exactly pa- rallel to those lot lines. So much certainty as will prevent fature trouble cannot be well attained without actually rauping this con” line. This involves, perhaps, a greater expense than the Chief Engineer and Surveyor would willingly impose yn the respective towns bordering on the line under the act. The peculiar condition of the country interested, and the propriety of acjusting the claim for over- paid taxes understandingly, when itis done, induces submission of the matter to the consideration of the Legislature. The Comptroller deemsit reason- able that the Legislature should direct the county line, from the north point of Oneida county to the south line of St Lawrence, between the counties of Lewis and Herkimer, to be surveyed and marked at the expense of the State, or of those counties. Tt would not then be unreasonable to call on th proprietors of ots where it is claimed overypay- ments of taxes have been made, to furnish evidence of the true quantities in the lots or tracts in ques tion, before being reimbursed for former overpay- ments. ESTIMATED REVENUE APPLICABLE TO THE ORDINARY EX+ PENGES OF GOVERKMENT FOR THE FISCAL VEAR, COMMENC- ING oN THE lat ocToBER, 1851. Btate tax, after deducting the advances to County Treasurers. for non-resident taxes $435,000 00 Approp: {ion from the surplus revenues of the canals. for eupport of government,.... 200,000 00 Awction dUty cos. ccseseeeceeeseeeeese cesses 100,000 00 Salt duty, after deducting the expenses of the Onondaga Balt Springs. «+. s eee eeeerees Arreare of county taxes and interest. Tax on foreign insurance companies, Pedlers’ licenses... ss eee Fees of the Secretary's office. Fees of the Comptroller's office. «+ « Fees, cf the Clerk's cfiice of the Appedla....+6 Shares Tolls on the Cayuga Lake Inlet. Sales of lands.....s.sse verre Note —Bheuld the sale for the taxes of 1845 to 1848, inclurive. be made before the expira- tion of the current fiecal year, as is intended, there may be added to the above amount, as ‘was estimated by the Comptroller in answer toa rerolution of the Senate of lith Feb, 1861, the rum of... $146, ESTIMATE OF THE ORDINAR’ L YEAR, COMMENCING ON 1st OCTO of- government, including Gourt’ of seveseseeee $43,000 00 urtof Appeals 10.000 00 es c{ the Judges of the Bupreme Court 80,000 00 -y of the Clerk of the Court of Appeals, uding clerk Dire... .cseceseceeee eee, 6,600 00 lature, compenration of members und Legislature. for contingent expenre + 16,000 00 Contingent expenses of the public offices. in- cludirg fuel for the Btate Hall and Capitel, and stationery for ube Legislatur +» 10.000 00 Printing for the Legisiature. ... + 60.000 00 Mircellauecue printing. engraving, &s. 40,600 00 Expeneet of the Ospitol. 0,000 66 Expeneee of the State Hall 2.500 00 Expeneee of the Uld Stute Heli ‘ 6u0 00 Expenees of the State Cabinet of Natural History sees - 1,600 060 Expereee ct the State Library.. + 6,550 00 Fapentre ot the Regents of the t y. 2600 60 Experse- of the State Lunatic Arylum, and fupr ort of inane convicte 7,000 60 25.800 00 22,480 00 24,600 00 ‘500 00 Asylum. Pri 500 00 other tha . 20,000 60 Diepentaries, New York Dispensary... $1,(60 Euetery Dispensary, New York, 1.000 Dorthern Diepensary, New York..... 1,000 Procklym Dispeneary «sv... : 800 Dispensery connected with the Al- bapy Hospital........ ‘ Willemeburg Diepensury _ 4,750 00 House ef Refuge. Weetern New York........ 21,0000 Eociety for the Keformation of Juvenile De- linguente, New York .. sesiveuccuss 8,000 00 Normal Scho} fcr eupport and education of Indian youth ceees 1600 00 Asylum for idiots. 6,000 00 Colcred Orphan Arylom, New York, ing » 2,500 00 Fye ard Eer Infirme : Looe 00 Gencree Academy 3.000 60 Reuerelaer Institute. 8,000 60 Buflalo Orphan Aryium. 3,000 00 Gouverneur Weeleyan 2,000 00 ‘Ticy Hospital : 2000 00 Ho pitals, othe k 26,000 00 Expenees of the Bt 50,000 00 Commiceury’s departm 15,600 00 Tortege of (Molal letter 8,000 00 Agricultural Societies. + 8,000 00 Kent and taxes of the bouse cecupied by the Governer treeeseereeee 1,400 00 froma justice . + 8,000 00 ental expencer of government and ap- prehension of criminals... . sees 2,000 00 Compenration of the committee to examine the acccunte of the Treasurer. and the Ca- nel end Banking Depertmente...... 1,1¢0 00 Coet of ault, feer, RO... 66. ee +» 2000 00 Contingent expenses of the Court of Appeals end of the Supreme Courtecsscsicesess 2,560 00 ‘Trenmeportation of the session lawe, jour wud decumente of the Legislature, &e.,., 1,200 00 improvemens of Recket river..... 2'880 00 Lavereet ob tbe Albany Basi jan, 9008 3 Siemans 2.160 00 1,000 00 2,000 00 25,000 00 bere Volunteers. es 15,006 00 Ralle€ of purchasers of Oneide-lends + 43156 66 Repairs of the highway across the foot of Be- For obstructions from the outlet of Cayuge sessesesee 10,000 00 Improvement of the Saranac river and lakes 5,000 00 For a water jet in the Capitol Park + 1,000 00 Miscellameous ....-..ssseeseeeee 40,000 00 Total......++ see eeee bebe eect see ee $820,506 83 ‘The appropriation of $15,000 for the New York volunteers who served inthe sete Mexico, ehapter 508, laws of 1851, will be tound quite inad- equate for that purpese. The Comptroller was ad- d, on the 2d day of December instant, that the Board in New York constituted by that act, as a commission to decide on ap) i for the bene- fits provided by the act, issued, at that time, cortificates to 249 of the Poa who had served in the first regiment of New York Volunteers; and that the number who were eupposed to have, by reason of absence, &c., made no formal application, was about twenty-three. The cashier of Manhattan Company was authorized by the Comptroller to make payment to those persons holding certificates who could most conveniently receive the money in that city; the Treasurer having an account with that com) mee Payments to others have been made at the Treasury. On and after the 10th of October ‘ast payment was made of $36 to each soldier for three months service, Since that time, a large porpoise have Pie d for payment at the end ofeach month. If is assumed as the number of volunteers to be paid, it will be perceived that the first $15,000 ap- ropriated by the act roferred to is already ox- Bausted, That amount has not been actually paid, but a further appropriation will be seen to necessary. ‘The Ist sec. of chap. 498, p. 929, Lawa of 1851 appropriates ‘for printing session laws, journa’ and docume:ts for the Legislatur 000." * For advertising, ADRAC and mapping. and prioting for the Legislature and departments $20,000.” The Comptrolier bas not felt at liverty, under the first provision above quoted, to pay for en- gravings, although they might be intended for oblic documents. He is of opinion that the print- g referred to in the second paragraph, refers eniy to the printing of maps and engravings, which me be required for tho State, whether such maps and engravings are designed for legislative docu- ments or for other purposes. Under this-construction of the act, the appro- pe falls short of paying the bills presented for maps and engravings, and patio: them. Ex- cepting a emall sum reserved for paying current bills for printiog the laws of the extra session, vertising, &c., in BOWELS EET the $20,000 is paid out, and of course an tional appropriation will become necessary at the present session, applicable to engraving, and mapping, and printing for the Legislature and departments. or the estimate of appropriations for the ne- cessary experses of government during the year commencing October 1, 1852, see appendix marked E. GENERAL FUND DEBT SINKING FUND. Payments, viz :— Balance due the Treasury on the 80th September, 1860.......... $54,508 24 Amount paid from the Treas’ during the year ending 20t! A September, 1851, (eee statement ED isad cucscacascoces Uoesers BOOTO OO Amount transferred to General Fund revenue, for interest on advances trom the Treasury. .. be 5,807 63 $399,688 61 Receipts, viz:— Amount received tméo the Treasury durirg the year ending 90th September, 1851, (see statement A)....ceeeeeeree seeeees 854.005 20 Balance due the Treasury on the 30th Sep- tember, 185)......0ceseersesecesssesees $45, 683 41 Amount of six per cent Bank Fund stock re- deemable in 1858 belongingtothisfund. $66,763 32 Balarce due the Treasury as per statement above, for advances to meet the demands upon this fund... secre eersereeeeerers 45,683 41 Amoust of the fund on the 30th September, : ‘The interest on $488,290 94 of the State debt, due Ist July 1851, amounting te $13,967 52, pay. able at the Manbattan Company, and chargeab! to this fund, remained unpaid at the Treasury on the 30th Segtember, the receipts of the holders of the steck not having been presented by that com- pany. The actual awount of the fund, therefore, atter deducting all the charges upon it for the fiscal year, is $7,202 GENERAL FUND DEBT AND SINKING FUND. The items composing this debt will be found in who statement io the Appendix marked U. ‘The debt, it will be perceived, has been increased during the pest tiscal year, $30,000, for stook issued in purtuance of chap. 37 of the Laws of 1850, for the benefit of the Stockbridge Iadians. The debt now amounts to ¢ 693 32, including a priucipa ot $122,094 57, which, at 6 per cent per annum, Would procuce an interest equalling tho annuities payabie to sundry tribes ot Indians, which anow ities, us is eleewbere shown, are, in tae aggregate, $7.561 69. The Sinking Fund of $350,000 per annum, set apart from the Canal Fund to discharge the in- terest on this General Fund debt, has not red heretofore :ufficient for that purpose by $3,071 37. This deficiency is not, however, increased by the addition of the above $30,000 to the debt; inas- much asthe payment ot interest on that sum is charged upon the revenues of the General Fund. The above deficit of $3,071 37 is a eharge on the Sirking Fond, and must be taken from the surplus of $7,202 59, which is shown by the statement to have been the actual available surplus the 30th bey eet last. ‘he benefits te the revenue of this fund, sug- gested at pago 18 of the report of Jast year, and which probably gave riee to SiS PeOTeaes, in the Ist section of chapter 498, page of the Laws of 1851, are decerving, and would have received the attention of the department, under circumstances | more favorable in the monetary world than have existed since the adjournment of the Legislature in July last. | Fer Contingent Debt, see Appendix C 2. THE CANAL REVENUE FOR THE FISCAL YEAR. | The silent but powerful operatious of the State canals during the year past, have produeed their munificent und unfailing effects, adding, thereby, | another apnval confirmation to those unifo: \ exhibited for more than a quarter of a century, of | the wisdom of their projectors, and the well | grounded faith of their friexds. ‘The endeavor, by high wrovght deecriptions and eloquent declamations to eet forth the vast benefits of these great wo! has become almost a matter of supererogation; ond although these canals are the result of human effort and skill, yet their stability and bereficence are becoming from year to year 88 confidently and Saris relied on by all, as ceed time and harvest, or the revolutions of the seasons. »| During the year past, notwithstanding still fur- ther reductions of tolls, and that too on the articles | principally depended on for the revenue, the canals | have produced @ gross income of $3,722,165 11. A reduction of cne quarter was made last spring on the tolls cf wheat and flour, and more or less on many other articles. The revenue of the canals may not have suffered by the diminution of the tol’s on these other articles last mentioned; the reduc- tion in most cases may have operated to increase tke quantity transported; but in regard to wheat and tiour, it is at least problematical whether such bas been the effect. At the former rate of tolls, the wheat ard flour moved upen our canals during the past fecal year, would have produced, in addition te the revenues of the year as above stated, as nearly as can be now estimated, more than $275,000. tis not denied that,under ordinary circumstances, other considerations thanthose of a mere yearly re- venue, may properly exercise a controlling iuifluence in acjusting a tariff cf tolls— interests ot a broader ment inte our system of canal management, or rather extended a former one, in a considerable degree. and materials upon the canals, running through se- vera] years, depending for their fulfilmont, on the part of the State, entirely upon the surplus :evenue ot the canals. This Jiability of the surplus has, by the act above mentioned, been greatly enlarged; and already ono million of dollars bas been chargea A iy it, for money advanced by individuals towards the comple- tien of the works designated in the act. In view of these, and of otheg probable future tion how far the Canal Board, or the Legislature, are at liberty to ceneult other interests than those of actual accruing revenue, in the imposition or re- miesion cf tolls. teken on the 1%h of August last, ata premium of $9,756 76; nearly one per cent, at an interest of July in each yeor, until the certificates are re- Gecmable which will be im 1861, ten years froin their itt ‘There canal revenue certiticates were | put in market at en unpropitivus moment; the ttiingeney in moncy matters having been nearly or scatOn The fact that under euch circumstances they commended & premivin, is an urmistakeable indi- cation of entire cor icence in the revenue on which they vert, era that if, hereafter, they fail to com- MELE bb C4UG) price, It must be owing to some | (aber Contracts have heretofore been made for work | advances, it beccmcs @ grave constitutional ques- | The Joon of $1,000,000 above alluded to, was | and higher character may of right be regarded; | but the act of July last bas introduced a new ele- | | © x per cent, payable on the let of January and | quite ag ecvere at that time at at wuy period of the | than a doubt of the ability of | the canals, under proper management, to enlarge and finish themselves. oe ws RECEIPTS AND EXPENDITURES. ON ACCOUNT OF THE CANALS FOR THE Fiscal YEAR ENDING 80rn op Berremucn, 1861, sy THE aUDITOR oF THE CANAL DEPARTMENT. Receipts. ‘Tolls from canals... 98,581,015 33 ‘Tolls from railroads. 171,085 Sas wel Rent of surplus water.......+ 1,929 00 Interest on current canal revenue, 18,163 77 Payment $3,722,163 11 is. For repairs on canals, — To rintendents of Toeanal For expenses of collection ef viz.:— By ecanene of tolls. . $67,045 oe By weigh-masters..... 7,412 50 $75,368 45 For pritlog barr 08 for tenes For salary ‘St auditor and clerks ee ne oe m - 882,253 61 $2,889,909 60 Payments by Canal Commissioners for new work on the lateral canals under special laws, viz:— On the Oswego canal, On the Chemung canal 8,424 92 On the Crooked 6,414 28 On the Chenango 91 20 ———_—s_ 75,476 69 Surplus revenues. .....+00es++++-- $2,814,432 91 Amount set apart by article 7 of the consti- tution, to pay the interest and redeem the General Fund debt, § 350,000 For the General Fund, to pay the necessary expenses of government, §3,........06 200,000 1,850,000 00 ‘The remainder of the revenues of the fiscal ear applicable to the completion of the Erie canal enlargement, Black River and Genesee Valley canals .......ccees vee CANAL DEBT. FROM THE BOOKS OF THE CANAL DEPARTMENT. $964,432 91 Erle canul enlargement. + $8127 886 94 Ohemung canal . 108,452 34 Chenango canal ‘ 31,382 00 Black River canal. 408,011 35, Generee Valley canal...-.. Vo 3,084 623 33 Oneida River improvement . . ask 569,843 56 To pears for deficiencies under article 7 of the constitution.........s.eee+e++ 3,163,844 10 Amount of the canal debt chargeable up- on the Sinking Fund created by ceo. 1, art. 7 of the constitution.............. $15,058,523 67 To provide for extraordinary repairs, chap. 870. sec, 2, laws Of 1849..........-0++++ 60,000 00 To Albany Basin, chap. 200, sec. 3, laws of AMS ces Bardiiscsscteeee LORGSGTED Total amount of the Canal debt, 30th Sep- tember, 1851......cseeeeseeeeeee cree ee $15,301,109 16 _ For the cost of constructing our soveral works of internal improvement, seo statement G. SINKING FUND FOR THE REDEMPTION OF THE CANAL DEBT. (Ary. 7, Bec. 1, oF THE ConstituTION.) From tHE Boos oF THE Canat DerantMent. Balance on hand 30th September, 1850. $326,823 20 Received, yis:— Transferred from the revenues of the Btate canale, during the fiscal year ending 30th Bept , 1851. seseseeee 1,900,000 00 $1,626,823 20 Paid, viz:— For the redempticn of canal stock, viz:— T's Of 1848.....06 + $600 00 5's of 1860. « 629,009 91 5’s of 1861... Accrued interest. $573,786 96 For expenres of transfer office, viz:— To the Manhattan Company.... $1,250 00 To Walter Mead, agent..... . 768 00 For account books, certificates, 2,257 50 For interest on the canal debt............ $822,485 38 Yor debts due prior to lst July, 1846, under chap. 375, §2 Laws of 1850.......0ese00+ 34,829 53 433.309 37 Balance on hand 30:h September, 1851 193,613 83 $1,626,823 20 Of the stocks outstanding 30th September, 1861, amounting to $340,495 45 ‘There was redeemed 01 . 327,100 45 Leaving provided for, but mot redeemed.... $13,825 00 LITERAT| be cal Lee ‘This fund consists of the following items, viz., State etek — Certificate No. 3937. loan under the act of 13th Mey, 1846, re- deemabdle Ist July, 1664, 6 per Certificate No 69, Black River Canal ican, redeemable let January, 1861 5 per cent... Certificate No, 26, Astor stock, receemable at pleasure, 5 per cent Certificate » i the act to provide for the de- ficiences in the sinking funds, redeemable let July, 1856, 634 per céi KE FUND. $100,000 00 8,743 00 3,000 00 97,000 00 —-——._ 148,743 00 Comptroller's bonds:— °, Comptroller's bond No. 2, issued per chap, 226, laws of 1849, redeemable Ist July, 1866, 6 percent.....sseecseeeeceeree eens — 64,700/00 Bank Fund stock:— Certificate No. 338, stock issued on account of the bank fund, redeemable lst February, 1858, 6 percent.......cecceeeeerereeeees 49,013 34 Insurance stock :— eo inthe Albany Incurance Company. 6,000 00 Dk stock : 28 shares in the Canal Bank, Albany 460 00 Money in the treneury....+++++ +++ 3,063 78 $272,880 12 REVENUE. Balance in the treasury on the 80th Beptember, 1850.... $14,078 53 Amcunt received into the tre: oy during the year ending, 30th Beptember, 1861, (see statement A.)....... oe 40,455 24 " 54,598 77 Amcunt paid cut of the treasury, during the year ending 30th September,” 1851, (see statement B.)... 44.181 97 Balance of revenue in the treasury 30th September. 1851......-.-- sees $10,351 80 ‘The revenue of this fund is estimated for the current year, viz Interest on State stcck.... « $7,272 43 8.882 00 Anterest on Comptroller's bond. Interest on Bank Fund stock 2.994 80 Interest on money to be invested. 364 00 $14,503 23 Appropriation from the income of the U. 8. Deposit FUG. s veveccsseeeeecsescseees 28,000 00 E for the ied rial soa) vis: Expenses for the same period, (see appropriationr,) viz: DIRRAGE YT OMOUMIMG se torrets ns sinc Books, maps, &c., for acsdemies 3.600 00 Meteorological observations... 1,500 00 $44,500 00 A balance of $10.351 S0 belonging to tne revenue of this fund remained, as will be seen, in the Trea- ury, at the close of the fiscal year. lt will be ebserved that the estimate of expenses inthe foregoing statement, aro actual appropri- Sac and that they exceed the revenue by about $2,000. It requircs Do argument to show that excessive ppropriations from these funds, unless provision # mede for reimbursement wiil lead soon to serious neon venience. COMMON SCHOOL FUND. aad CAPITAL. This fund consists of the following items, viz:— Bonds for lands , ++ $852,435 Bouds for le D account of the Astor debt. redeemable at pleasure, 5 per cent... Ceatifiente No ergo caxzal loan. redeemable Int seuuary, 1851, 6 per cent Certificate No. 250, ireued for loan to re-build the Chemung cent] feeder locke, redeem- able Ist January, 1861, 6 per cent. . Certiti No, 1, issued per chapter 458, laws of 1847, re- Geemable rt January, 185, 5 per cent. seseee 150,000 00 $41,705 91 20,00 00 1,445 05 218,500 96 Comptroller's bonds i= Loxde jrrued for louns to the ‘Treaevry, payebleon demand, $701,645 49 « 820,300 00 t @ to the Phy deiens ard Surgeons, the ypayment of which bas been actumed by the trur- tees Cf Union College, 6 per cent. . 13.036 16 ———— = 1,084,951 65 Rank etock One thevi end rheres in the Man- hattan Company, at $60 ea Mciey in the freaevry... 50,000 00 112 548 13 Revenve. ‘Treasury on the 30th 1860..........- $137,524 OF the Treasu- Balance in of September, 1f Amount received in oad the yearending 30th sy & 1851, (see statement Amount transferred from the i general fund revenue for inte- mg in bo Ginterend ry belonging to the school fund, during the year, per chap. 382, laws of 1849....... Amount transferred from the U. 8. deposit fund, for erro- neous payments into the Trea- eury on account of that fund. 461 78 54, 593 Amount paid out of the Treasu- EA duri; el 30th September, statement B) 241,001 8. Balance of revenue In the Treas on the 30th September, 1851. . "4 $103,531 42 At the close of tl sums appor- tioned to the counties of Now York and Greene, for commen school dividends, amounting to $41,115 46, remained unpaid. Deduct this sum from the ba- lance tated, and it shows the actual balance in the Treasury, on the 30th September, applicable to the payment of common school dividends ig February, Cap reve 95. ‘The revenue 0: rent year, viz :— 11,476 37 Interest on bonds for lands...........0++ $34,000 00 Intereet on loans to towns, counties, &c. 22.500 0@ Interest on loans of 1792 and 1808, 200 0a Interest on loans per act of 1840 2,500 00 Interest on State stock....... 5 9,660 00 Taterest on Comptroller's bonds, ... €3.000 0@ Dividends on bank stock........ 4 oa Interest on money in the Treasury. 0,000 00 $135,860 00 AppronanS from the income of the . 8. Deposit Fund...... 165,006 00 $000,860 0G Payments from the revenue of this fund Juring the same period (eee Appropria- ) viz. i== + $200.000 00 : 200 00 $800,200 00 ‘The increase of this fund durivg the past year amounts t0.... secre $34,776 49 Its capital was, on the 80th Sept, On the doth Sept., 185i. it was. Of its revenue, there was in the Treasury, on the 50th Sept. 1850, .. 0... sees ees Of ite revenue, there was in the Treasury, on the 80th Sept., 1851. It will, however, of $44,118 46, which 137,524 0% be seen that the sum remained uncalled for on the 30th September, should be deducted from the amount in the Treasury, as is stated in the above note. Of this last mentioned amount, $3,496 93 was Vode on the 23d of October last, to the county of Greene, by direction of & mandamus, as is explained in the stat Attorney General, appended to this marked Z. The sum due the city of New York has notjbeew calied for, and remains in the Treasury. ort, and mentioned in the above statement of capital, was In the estimate of payments from this fund for the current year, the dividends for common schoolg are put down at $300,000. the capital of this fund during the past iiscal year, see statement F. UNITED STATES DEPOSIT FUND CATITAL, This fund consists of the following itema, viz:— Loans on mortgage in the several counties, $3 651.751 35 Btate stock, redeemable Ist Jan , 1856,5 142500 08 POE CODE. .0000 0s ons cesese oe Btate stock, redeemable lst July, 1860, 6 1,100 00 184.739 48 Per OFNte... see. eeee it Comptroiler’s bonds, poyable on demand, 6 $4,429 92 Per CODt. ee. oe eevee Money in the Treasury. $4,014,520 72. RAVENUE. Amount received into the Treasury during the year ending ‘30th September, 1851, (see Statement seececenee $252,275 81 Amount transferred from the General Fund revenue for in- terest on money im the Trea- 6425 21 $256,705 02 salance in the Treasury on the 80th September, 1860 Amcunt of payments | ‘Treasury during the year en ing 30th Beptember, 1851..... Amount trapeferred to the oapi- tal of the furd for diminution in the loans under foreclosure of mortgage aud failure of tide.. seoseses 3,082 00 : Amount’ tranrferred ‘tothe Schoo! Fund for erroneous pay ment inte the Treasury on account of this fund... 8,913 64 241,961 39 461 78 Balance of revenue fa the Treagury on the Suth ceptember, 1851 The revenue of t current year, ag follows Interert’ on the loans cn mortgage in the feveral counties. . Interest on Btate & Interest on Comptrotie Interest on money in the Treasury. Bale of lands. .....sesese eee sevee $6,386 2B estimated for the, $252,276 00 Estimated payments for the current year, viz :— Common schools........... +++ 165,000 00 School Fund, Academler.. (including $600 due for 1861)........ as eeasaveseseere 3,000 00 Academies for the instruction of 01 4 in the loans under foreclo- sure Of mortgage........cesereereeeeeeee 2,000 00 $255,850 00 * Under section 4, act of 1851, chap. 530. No unusual change has taken place in the afiairs of thie fand during the past year. From the reve- nues of the fund, the sum of $1,982 has been ap- lied to keep good the principal, this being, strict- ly speaking, a trust fund, for the original amount of which, b8ing $4,014,501 71, the State holds it« self responsible tothe United States government, whenever called upon for it. Of this fund, $3,651,- 751 36 is loaned on mort sioners of the Deposite Fund. Owing, sometimes, to defective titler, but more frequently to over estimates of the value of the property mertgaged, losses kaye from time to time een suetained. These overvaluations are not al- ways the effect of careleseness, or design, or defect of judgment. Many of them can be cleariy traced to depreciations, caused by the changes constantly taking ie in our great throughfares and in our various business cztabiishments and relations. As the management of these loans becomes better un- derstood, and real estate gradually acquires & more known and fixed value, the losges, it is hoped, wild be still less serious. Considered as a mere question of finance, it may be doubtful whether the State could not as prefita- bly vest the fund in pub! ocks; yet the invest- ment in mortgages has a value not to be disregard- ed in the benetit derived by the citizens trom the redit thus extended to them. The sum cf over three anda half millions, in the bands of our enterprising business men, forms ho contemptible auxiliary to their wealth pro- | éuciig power. Instead of delaying the use of this fund, till ite accumulations have reached an amount rendering n apportionment advieable among the diferent ounties, it hes been deemed better to receive ap- Hioations, from time to time, and authozizs the cane as they were wanted, in this way, a ies samt ain on hand comparatively unproductive, and pplicants have generally been supplied when they erired ass The appropriations from this fund, bad for se veral years invariably exceeded its revenues, al- though they bad been estimated with a good do- | gree of certainty, until the expiration of this year, when the books of this oftice show a balance in the treasury belonging to this {und of $5,3¢6 21. Lt is also gratifying to find that tho fe from the revenue for diminution on loan: than formerly, and less th: reyes and less than on any precedin: being $1,952; a8 above stated ie sabes The statement also shows a decreasing list of the unsold property, which the commissioners had boon compelicd to bid in for the State. Several of the purchases thus made have been disposed of the pass year. The aflairs of this fusd are generally woll conducted by the respective com lunery, and ap~ peer to bein a sound and prosperous condition. the net reverie cquals an interest of Gj to 6) per cent, id of any otner like which cannot, perh fur d, unéer State since t ‘i 8 r nee the organiza- tion of ibe government. ‘Lhe precise revenue of this on for the year endir jh September, 1850, was $2 and f he year ending 30.h 8 tember, 151, it was 34 Ladera we Biare wy THE Premisrs Biv x yor Devos Fuso, expen Pe or mmr U 8 Mowresce. won Kusano Uvsoun 11, Bi rremene St es1ONBRE POLONUKE OF on ue SOrn When Principat you 00 275 00 0 00 400 00 100 00 600 CO 560 00 awa Courtirs this fund is estimated for the cur- _ 193.531 42, nt of tha resented for redemption, and was redeemed, om _. The Ist of October last. 7” For the detail of the increase and diminution of . ¢, to persons in the dif- . ferent counties of the State, through the Commis. ” Certificate No. 1 of the Chenango Canal loan, ag-~'