The New York Herald Newspaper, January 5, 1853, Page 2

where suggestion the suits Dy the State that tbey were imetituted beosuse ‘one of the fruivfal somrers of di quictude amomg the tenamta te thi hewriom iba’ the lanelords heve no Uil« to the | thet after paying seme. ke les of soars the x tie te thet under which they hod, be ejected from ‘When the ;arpores for which the su'ts are brought are the continuance of litigu' ion serves oly to ore Atatlen. to exeite upfoonded expeerations jortments between landlords and tenants, which are de irsble 'm every et Mapy arrangements buve already been made between these parts @ the prosperous condition of the coue try. tbe aburdance cf mopey. and che high prices sow. commandec by the prodvctions ef the soll. are circum stances favorable to the tenants im securing the furl ownerchip of their farms. It is unierstord shat the Prices originally sshed by the Iandnolders. have b-en, ia many fmtances very much reduced The dvotsion of the courts baving tablished the validity of their titles @ their legs! riguts it is believed that tae land owners 1 recognize the importance of seiling their loads usoa orable terms and of ex'inguishing teuut:s injuricm te the ietrrests of the communi'y. and tneoasist-nt with ow itieal imstitar ios If any action is had by the ‘Legis! Upon the sunject. it sbeald not be of a char acter to excite nnfounded expectations. and in the ead imjure these it ls spparertly designed to serve When the titles of the landiords are established any gtsivtance given to the tenants must be at tbe expe mre of the Stat f the legal rightect ary of I's etti eobange in legal procedure eon'ewp'a constitution (Art 6, res 24) compete effect. Tho commissioners appointed for tnat par- . Reported from time to time under th» directioaeftho irla'vre. Their first report Sdopted io 1 c been medified and amended by succecding Legislatures ‘and bas become the mttled system of the State. The Jegal remedies by various special proceedings. which oo cupy aeonriderable share of the attention of the courts eluded in the reports adopted; there ex still istered under laws ax they existed the before the adep. final repert of ommirtionsrs, prese: ure Jannary ¢ subjects. embraces these proeeed- and a revision of theee |i ith no prac’ few) kpowtedge of the details of tl + forms alrendy eracied and those proposed in the reporta referred to. 1 am upable to express aa opinion of their merits, But regacding the existing code of practice as the established »yatem by whieh remedial justice is to be bereafter administered. it seema due to consistency that sech farther legisiation should take pace as is mecessary to provide that civil remedies. both by rpecial proceed ‘tage aad by civil actions. should be procecuted unde: a general method of procedure ‘A copsi¢erable part of the jurisdiction of the courts is exercived under statutes conferring powers upou the ‘Cbanecetior and varieus offierrs of bis eourt. and ao0o courts of common piras which bave been aboli-hed by the ‘pew cometivutiin The Legirlature hae passed various Jaws to render ‘he proceedings applicable to the courts as they now exist; but a revision and « more p-rfect atapta tion of them to cur prerent judicial system ia dosirabie ‘The enrolled militie of the State of New York nonbers Many vaifo-med compant+s not only sell it well drilied and disciplined, hi ean State ‘hese companies are composed ef ligent and active mem. who are interested in pre serving the peace and good order of sosety Without eutjecting the State government to any expense, they constitute am impytant part of the executive power of Sate They nomo-r about 15.000 men 5,800 of whem are in the city of New York. These compantes sre ‘Bevaily formed in jazge vowns and cities. where pop tar @i-turbances and resistance to law are most likely to eccur. ‘They rerve to overaws turbulent or disorderly mom» rs Of eceiety. and coms ttnte ® powerful body prepare at all times to’ sid the civil authorivies. Their vigor, inteli- ce. and the interest they have. wa reapactubie citizens, uphoiding the lew. together with the degree of disct he they have attained. reader them efficiomt aud relia jp all emergenci ‘The eplightened and liberal spirit of the sge mo leas than the interests of commerce. eeminds the estabiish- ment of a syst-m of reciprocal trade with the adjoining Britivh previeces. Their vast extent of cvtermincas boundary, the cherscter of thetr productiogs. aud the wature of their wants. their uve of a common languige with ourselves, ard the similarity of babiw aud custome. Fepcer # ree and unrestricted intercourse and commercs witb their pepulation of creat interest wad importance Our own Btate is particularly imtercated im the ndep:ion, by the general rovernment, of some measures caleula | te effect this desirable remult, It wonld increase the Durivess of onr canals. add to the property of ‘oe towns in the northrn snd western sections of out State. — a the commercial importance of the city of er The etriking succere of American indurtry and skill ‘at the Lepdou Exhibition and im the British waters dic fpg the year 1861, na uraliy aroused s desire for the @rgen'sation im (his country of ap Industrial Exhib tion anslogous to that which bas eouferred so mack honor op England. The limitations of the powers of oar ne oral and State governments preven'ed their more di rect se'ion. but « charter was granted by the Legislature Bt the session ef 1st2 formirg an as*ocis ion designed to @eccmplish this enterprise ‘ith the fevor of the gene ral edu.inistration are the active aid of the City of New York, the Association Is pursuing ffs tark with energy. ite marasers sppearing fally sensible of ihe high expec’s tions excited by their undertaking. Wile the producers of Europe will avutl themnselr9s 0! #0 favorable an oppor tunity to bring their fmbrier to the notice of thee n- @umers of this country, the colleetion, on « national seale. of the products of Americen industry, mus: of it- self secure a recult of ruch tnterest and prastical valus, @ fully to repay the great labor hich the work require ‘The b Sesigned to reorive the exhibition, now convenience autanple tectural ; omd may, if the success of the enterprize shail mumilar uses throagh ‘warrant its preservation. ri for Teme are ‘The number of banks, widual baukers doing besiness in this S:ate om the drat days of December, 1551 axd 1852, were ae follows: — 8! 1862. Chartered Danks 70 Banking associations . 18 Indiviaual bankers 89 ‘The bills issued by the Banking Department to the f00 Denk: amount to $10,159 666, being additien to the emeunt hela by them on the 1st Deeember, 1851 of $8.46 052 and ap increase of §7 075 34). within thie ears. The free banks have within the same time about bled ip number. ‘The actual circulstion of all the bunks as shown by Sheir quarterly reports, in Soptember, 1551, amounted ose sta $27 254 408 Ast Decomber 1852. to « BBWS ‘The Superintendent ofthe Banking Department, in lis unas! report will evil the iom of the Legiwlsta. to the fact that many of the free bank) are sotebiisis merely to get bilis for circulation They evade the pr visiens cf the Isws requiring them todo business at #0 Gesignated place. and circulate their noes through b-o- Kers in the eommercial cities. They feeq rently allow their notes to be discredited for the parpore of buying ‘them at jarge dircoun’s, thereby sarj-otlug the dill aold eer tolors. The wnitiplicstion of banks of tals descrip tiem is atiented with mumerous evils dio Ames of pressure im [he money markt, w il cease great embor Kerements Further legiclative restraiuts are mecessary to rave the public from frauds and lowes. In some in stances. bille been ed upon inswMsieat seca rity by faucobent ieprerentations ave beru furnished with the fullowing abstract of @ome of the «tatietics of the railrosds of the state of Now York taken ficm the seturms made (o the State Bugi weer, for the year ending eptember 30. 1554 Twenty-seven corporations only hare wads retu ‘Three other corporations, which made re arms iset y been fled in (he office of the 3 Btate artice# of association for forty one faiirosd corporativns. Severe! of these new kmows to have been comp'eted, and wpon others large expenditures have beea made The railroad cor Porations are by law requied to file their enaasl ve ate with the State Engin-er by thy let day of Doom t Nope of them have complied with ths provision ard the late daieat which many of tarm ware ven’ in delays the State Engineer and bim from com piyivg with section 103 of (he ge requires bim ‘o arrangs the information ‘and to report to the Legisiature om the first seee'on ‘The namber of miles of road infuse on thetwonty sevag waliroads :+oorted ix sesececsereees L797 miles, And adding the lengths of three roads not reported. as given last year, mekes A ie i imcreare in the r of miies in we cver the number reported last ‘The total cort of the +: y seven roads repor ed wp to Beptember, 1-62 in $54 812 10 63. Lhe ‘etal expendit ore on all the rods eonstracted oud eowmenved in this State, Is prsbably about one hundred aaillicns ef dollars The nomber cf pasrewgers carried in carson tweaty- ome rosds reported 7 061 909. nd the number of miles travelied by the prerengers is 332847.007. The in erence on 1# roads over the preceding your, was of pas Sengere, 14987 057, and of miles travelled. 92,498 340, The vumber of tons of freight carned over 21 roads re- ported. is 2060279. The increase over the procediog year on IPof these roade f+ 621,101 tons ‘The nawber of pereons tojured in life or lim> on 2% rouds reported, {# 206; of whom ware killed. 168 Che {oer ‘over the preceding year, om 25 of these roads. is, of perons killed. €9, and of persons injured 44 These railroads traverne alimort every county in the Btare There are no seciions of ite terrtory which hare Bot now cheap end convenien! avenues to market Beene of lakes. rivers cavale and railroeds Tue roost exterrien of the lact memed improvement. *i!l rap ily Aner-neo the wealth and p-pulatioa of the Stave The iturion of thiv Sais, which wss ad opted by rity of the popular vote, establishes a weil bh eated for the purpe © provide fer the completion of out roads day cf ite t sof loternal im an in'sbed oanaly; and alo to pay the qeneral fund debs 9 the tare usd provide for rhe suppor! of it* goverom nt ‘To prevent the resurrence of the avila of lu leb ed awe, Ht forvide the creation of any debt beyond one millira GeLarn exeew to repel Inve ton eupbress iwearcee tou nd the State inwar onion « ried on a diet meourd be ions Dave recently fa popular awemblagee fe | be halle of the Legitiature and before the jadtiial mals be tmnese of the Stas, and the condition of the lie works, are at this time rubjects of geext (aver therefire deem it my duty to reoar to t whind led to tie adoption of thy fine visiows of ‘the ronetitution to give my views f the « 4 @or pane werkr cake roch with regord to them sa f biuk pest cule jow ond wske ‘hem theo fo com eat and productive regions of the The Uoow ttatin ed #hatem: obs prepared +h a} condition of the State, and wanst alned the drdtn contrected for the canals amonnind to f 7 - BI6.119 OF oF 4 that & erve addi ivnel oma wer required te complete them: thet the debt incnrred for ot ser Teore® wae Bh PKO.149 4 aed chet the rerennes of the 1¢ Were imvofficw nt le pay Lhe expenses of (he gov ert mrt, £0 thikt | hie debt was comrtantly loots setag OF Ube general debt of the Biante 9,000,009 bad De: sive Snancial ryetem. cevigued to | n » Med to ipeurred for the benefit of the New York and Erie Rail- | Investigation will show that the canal debt bes mate- | people of the Btate who are only anxtous to reduce, te the 10aa To ex'tnauirh the eapal debt the lt rection of the 7th | tire. article of the coprti‘uliva direots, that after paring tl expensenef repaire Ao. there sball oe se apart fom the Fevenursé of tue caneis in ercn fiseal year. $1 $00,000, until first of June 1855 snd from tha’ time the eum of $1 700 O00 iweneh fheal year a a sinbing fami to pay | | the interest apd recerm the priactout of the casual dedt. Jane, ic46 asi) existed on the Bret day fo pay the general fund debt of the Bate, the 23 om of the F enwp'y lng Tp erticle provides, that in each fisesl th the lst rretion there salt be revenges the aom of $5 a arpking feud to pay the interest and redesm the | principal o Uoet After the cemal deb! is paid the | sus 0 be eet #purt fer the payment of the General Fuad | edt in euch Heal year 18 Fo be increased to $1 600 G09. | To aid in psyteg the exoenser of geveroment, the third tection of the sev pb article direets, the: there sball be pad owt of (be surplus revenues of che oauais. for Lost POUFp se Mets Dol exereding $2000, im exch yrar- after com plying with (he provisions of the frst amd se- cond sections To secure the completion ef our updulsbed public Works i: requ res (bet che rewaiader of tbe surplus rev enue: of the caiai yball, ineach Osca) year be spplted to the brie coped Tgement end tke Genesee Valey and Bleck River espals until they ure completed Whee ibe purpoees of the coostita ball be accom plibed according to these asangemen’s. the Erie canal evlargemen! ahd (he Biwek River aod Genesee ey | capale Will be comuleted the 8 ae of New York will be free fim debi and wi! own 808 miles of canals. yielaing large rey nues. which Will be uninoumbered with dent er interest. or sinking fumd acceunts We can then mal such reductions of the taxes Ou the tran: portation of tae porvetsof (he couptry to market as may be necessary to increase their rale to secure the commerce cf the Wreterp States. sud give to our citizens tue profits of « vact cerrying trade | ‘Tbe wieteken idea is entertaimed by many. that the sptrit of our constitvtion is hostile to our public im prove- ments The members of the constitutional eoavention, acted npon the belief that » sound system of faance was eesential to the succes] wenegement avd compietion ofthe eunals; that the improvident creation of dat, not | oply embarrarted the Graces of the State. but aleo de- lnved ‘he completion of the unfinished public works. | ‘The bistory of our ea: gives abundant proofs of the trut® of there propositions Fefore the year 1835 the Btate of New York bad built six hundred and fitty etx miles of eapal eounec:ing the | Hucrop river with the Kcle Ontario. Cayoga Seneca. and | Cooked lakes. and wivh che vaileys of the Chemung aud Buqvebenna rivers This great system of imteroal im | provements covt only $11 66. 062 96, Tvs first aud great Eile camal was commenced in 18L xtent of dense forests se year wf tet deetreyed by the direases ineident to unculti | grounds; the con factors, wi bout the faciiitie joyed in many instances without the convener jorded by cCm@on reass, weie obliged to overoome the numerous obstacies with whieh they bad to contend, un- sited by experience Yet this great work. three hundred | ad bixty foor miles im length, con necting Lake Brie with the Hudsen river. cost omy $7143 To 1836 the ruccesstul and rapid completion of the px lic workr. and the ¢xtingnirhment of the principal part | of the de br areated tir their construction, was a jurtomute | for prive and copgratulution. Since that time tnere has been expended on cuc cupals $25 245 000. besides 477,- | OC0 paid for ipterest ; yet the eplargement is notoom pleted, nor avy Bow caxals ini-+hed Onr fimanoes are embaireered sue Our resourees dimiulthed until re ae threatened with ap twervase of Cirect taxution. Ido pot deem epy apology necesesry for giving in detail my views _ OF Lbe causes Which Dave produc’ d tuese dlemstrous resualrs, Ihave heretofore bag occasion to ex+mne this enb- ject #8 @ member of the Legislature. and chairman of the Commitee on Canais, Av that time as on the preseot | cocusion. I coveut ed those er gsced in buildmg or pavi | geting ow carals forthe purpese of obraiatpg eorrect | information 1e-pectixg th: ir bisvory, intere-m and ¢ | ticn. I bare been compelled to the conclusion chat the practice of borrewlpg and expeodiog large sums of mo- hey wirbin eher® poriods of time, bas been at once ruin. | ook to them. sud ‘njurious te the public wteres's, The efirctive apriicarion cf money previous to 1836, ex'endod throvgh a period ef abowt eighteen years. The average amount borrowed or expended witbineach year was lows than $1,000 000 Kpeculative excite men's Were not then created by profase expemdirores; extrarag-nt plaas were | not eugerdetred by placieg greut amoun's at the dispo-al of disbursing gente; localicies were pot etim| pres: (or ernamirntal or queetionadie improvere *pnual eppropriations indused ali to desire such app je mepey as woukd most promote the gTeet object Of increased facil ties for tramportion When it wae decided in 1835, to enlarge the Erie canal, it was prepored to accomplish the work by the applicstim of the surplus rolls. *ithout rerort‘ng to loams There has n collected from taxation upou the travepor tation of property m our canals, sines that time. the sum of — $41.247,000, the expenses of Keeping them in fepair amount to $11.469 000. ‘Lhe balance ut bave been applied to the compietion of our public works if we created mo depts in Yelving charges for ixterert and sinkiog fad aecounte; Ic is believed ihat the balence of $24,708.00, if tt had been applied as it accrued fom the revenues would bave flow Ded the works; the estimate of their cost wus $30, 7TS4 10 ely. the prudent sy+tem of exp-nd- ing cnly our surplus tolle wae abandoned. The policy of borrowing is siwsys adopted when money is sbundsat; when a rpreulative feeling pervades the community: when travsgant plans are popular; when materials aud labor aie bigo; aud when the applicsticn of money produces the lewet effet This etate of effairs prevailed to an un- exempled extent in the years 1507-8-9 and 40 whee an- der ite induence and during that time the S:ate borrowed more than sixteen milions fer canal purpores, and incur- red obligations in addition, that aweiled the enm of lisbili- ties to $40,718 (6 f8 and created the heavy interest account that bas absorbed so much of our revennes. The expenditure of these great ainouuts increased the specula ive spirit of the times, amd eaased the adoption of U elertly exDensive structurce ow the liner of the canals. | The cost of doing the *ork was ewelied still more by put- ting large amounts onder contrect at one time. The ex- ‘nee Of structures was uch greeter then it would have Been vuder other circumstances, The regu arity of the pursuits cf the in@ustiial classes was disturbed; great Rumbers cf isborers were drawn from all quarters. wi when thiown out of employment by ti iuability of tae ‘ate to pay their employers, increased the general di:- tress. ‘The full force of the evils of indebi+dness was felt in the autumn of 1841. whem the State of bie to borrow mone) t> pay the comtrectoras = The work om the canals wer vor wu-pemded by a mere logi-lati7e act. ‘The stecke of the State cou'd not de sold wt par for eome mentbs before ihe Legidature of 1542 convened, aud pareed the iaw to resture the credit of the Stete, and ema ble it to pay the debts dus to ice eltisens + Insome imrtances the contractors were eompelied to teke the stocks of thes. pst and sell them im mar- Ket at a los of tem or fifteom per cent. The distress caused by the joes of pubiic credi: was Bot coafiasd to the public creclers. Their embufrrssmvn’s involved Other: in their mit.fortume. The laborers. on the abiliy of the State to keep its engages built their numble cabdim+ on the lines of our camels, Were let in acondition of destitution amd suffering ‘Lhe act of 1642 war passed to restore the crevit ef tue Btate snd enable it to pay ie d-bts and relieve tos pub ke creditor, It wus a told and boweet effort to etem the tide cf repucintion that threatened to sweep the ehvrac'er for integrity amd houor ot many of tie States of the Union It pot be raid cur copdition 842 waa owing to the tioanciel embaraesments of tae time Lf the te bad not involved itself im deot, it would have bewa be- yond the reach of pecuniary revulioas Instead of in- creasing the Gietre wee of ihe farmers meobenics and erchauts, by berrowipg the mary thoy mewded. it would have afforded ‘Lem relief by tre ananal expeati ture of ite eurplus camal revemnes toas giving employ- meu? to isbor. end demand for the prodac- tions of the reil Pi « ving md to its ettinens, it became a compriing borrower ta the moucy markut In conseqarnee of the abworption of ite revenues by s'whing fords snd interet accounts, it was unable to avail tceels of the low prices woe prevailed ‘rom 1842 to 2847 The annual expenditure of thy survlas revenam if we bad borrewed 6 berm of gront advautege to eur uy given aeasenable re ver po Fe should bave bad in thurw years. no money would tty deairabie to bave oomiracts om the public laprove- taken by mew whose skill aud exp-risoce enable them to perform the work upou terms favorable to tae State, and yet profitable to theaseives, Whom large amounts are borrowed and expended within snort periods ot time, inexperienced persons are induced to leave their proper pureul'# and apply for contracts. Ii is evident Uhat ruck perrope mus be paid high prices or be com pelled toapply to the Legiiature for relief fnia has Stave, wad of greats evil in ie gislation. the system of borrowing affects injuriouely the public Inieree's in o her reepeets, More thau $49 000 000 bare bern pold te the State for tolls, in addition to the ovat of troprporiation by those wirg our ospals, kimce 1395 ‘Tdir ecormour weight of texstion bas borne heavily upom the preducing classes and busines: interesu of the eouasry. If UneBiute bad cronted no debt for oamal or other par poses since 1s could now, or Ip @ few years. relieve toe expel commerce from any taxation beyoud the amount ecertary to keep them in repsire, and make such coa tributions towards the suppor: of goveroment a+ might be deemed advisable. The ecarvgate of thess eurpius revenues would amount, in 155 to more then thir'y- eight millones of dotiars—-a wam rufisient te heave om Canal Fniergemont, the Genesee Valley ack River Usmale and ¢ paid (he balance indebredrers due porta:ton of « barrel of flor from Present reduced rates, ie about twenty three cents If we were no’ burdened with debt, tight cents wou'd be It proportionate smount of tax for keeping the caral jp repair and comribacing an ample yeerly rum towards the rapport of government The Ving of expen of tiunspesia’ion. by the completion of the ewlargemert sould bave been ten cents more mar jng a dimiwuticn of twenty Hye cents in the expense of conveying this \mper.ant article of food and comueice wo the oity of New Yor It ie Ceomed wmatter of great mations! tuterest to be able to expert f rely the productions of the soll, the eon tinusnes of texeiion. which should baye been avoided. will freq ept the thipusse of provistons, da peive ube meranent and ship portation ) us imposed by coutera of tpjve. woh barre aid be justly denonosed by Tmer To preveot sash ta niionef the Cuited Sates ® vor duly hell be laid on tow exrorred frome te” Guranfartuaste sensi deo’ ba It prmotiority onus & lek Bowe inflie’ thie io ory nent, Je edd! jon ty the derangement it,bas ere. bed tn ow nod the d-lny tt has evared im the rpie ton uy canals Tbe tex whisk it imponn ot the wood prodne*tong of ’ " he ol poole b teted enough to ' pair and ve supporting ot 1 will be fonnd that if we hed borrow nnd had Guiehed the orn by one rnepioe on a howand fe of pine mer frou y on the eu-rew Valley @rrat eonld chat = reduc tom coals be mare of exeb thowennd feet of groom tem ¥ cents op thoussed f. f vighteen oom's om ene oord of wood | merhol from sae hood of the Biuok river feeder. | oprnes: | wet, rialy dimipiebea the valve of real estate im many loeali- inexbaustible; bat de or eommerei ateat of our market, Sud the Girtaners to woich we CaM export our prodac- Hens, depend wpeu their cort n New Youk. We esamot prite ve of ihe sd taptager of (oveiga inarbele; bat it will ei bout @cubi, affect seriously the exportation of provi ims The orjrot of the corestitation mW to prevent @ recur. Tepee cf koe evils we Dave experienced the exileguishment of our debts, aod for # ju Pore wten of ow k # nce the ad ubdlic # pton of stitution, there has beea the pubhe worke $6 7/6 000; che surpius POE ald to the purp se amounted, ia 1801, to JSOL the Lrg)-iature passed @ law to raise of dollar (<r (be purpore of completing, +t cer, iby U1 fipisbed pub to works; wad at the sume sranion Te) e¥e@ certain railrosde fic m the payment of tolis levied to proteet the canal revenuee thesis It was objee'ed to the rit of the ‘ould ipjore our esval kyr tem the psyment of the principal amd interert of the sum booed rendering cowtipued taxation upon ite eom- Werce Decersery; (bat the expemee @' the work would be iuereased by putting eo much under covtiaet at one lime; the’ prhes were bigh end the money market tp | apd weuld become mre 0 under the tefluence of ap Jt permitted the ce: titcates for the mons¥ Derrewed to be wade the basis for benkivg, thus com verting tbe indeb eduess of our cansls into baak bills for cheulation; that if the amount of the eertiBsate: ald Bot be equal to (he cos tracts wade under the law, while the indeb edne-s #oulc be locveared no resources would be left for the completion ¢f (he works, as the bill pro- pored “tosel all surclus revennes” applicable to that purpore. for the repayment of the nine millions raised uncer itr p/ervisions Unferiauately, the Legislature rejested « propgped amendment. providing that toe constitarionality of lew ck ould be determines bef re apy ecntracts sbouid be ede Or money borrowed. Canni certificates for $1,5.0. OC wee ruid ip August wna Deorm der. 1861, at a premiuas of lers th F oept ile the stock of tae State. of Rows constitu‘ionality. beariog the rame interest com- mended w premivm rangg from nine to sixteen per cen:, The contract. ware ‘ev: it hus been supposed that they oply smounted to $8029 727 45, but this fs npow the arrumption that all the excavation oa the enlargement wld be of the easiest kno. ani cf tbe description which an to bave been dove at the | -weat prices under the con- No ail ne made for the fact. that by the terms of contracts much higber prices were to have beep paid for the quick-and er burdpan that migat be excavated In the performance of the work — I: is duffle cult to ertimate what emouut would have been required if tbe law bad been devlared constitutional ; the sguregate J variously estimated by different | epginesrs to be from tem °o thireem millions of dol- lars Fer th payment of che expeare of the work beyond thr amount to be rated by {he law of 1851. there was no rerouscer left. ax the surplus tolis wee disposed of. until | the $9,000.(00 were paid; and the works would have stopped or rerort must beve been hed to taxation upon the pepl The law was declared to be unconstitutional by t! bighert judicial tioupal of eur State. Justice requires that the money reovived from the certifica‘es shouid be reunded. and that the Srate should pay for the work dene uncer the con'reeta ~The amount required for this purpore murt be rained by a tex, oF by rubmitting tothe people a lo autberising » ded* for the purpose, and pro Vid By for the pay ment of the im'erest and principal by » tax. according 'o the provisions of the covatitution Al bongh the Ine has brea promounced usconstitu tiomal the ieg'+)« Tesources of our canals For the fisca) year ending September 30.1851 the eur lus smounted io $¥64432 for the fiscal year ending ptember 80, 1869 they are less than $3(0000, a eum pi 10 have paid the imterert onthe propo-ed dedt mibions, When wils were taken off trom the Intera) railroads the cural revenues were no; only do- rived of & contribuven from that source but the roads | came more formiauble ocmpetit crevary 8 reduction of caval wis. ‘The honor acd the in‘erest of the Btat= of New York Teqwire the comple iow of the Erte canal enlargement, and the Genecre Valley and lack River eanal. Theve enterurites buve jot nope of their importanee Their completion ts demanded as econ aa is consistent with « judicious and economical spolication ot money. The and rendered ns- amount reeded t fpieh the Biack River canal. and im- | provement. is $248 784 10 complete thirty miles of Ge Becee Valley cevel, is $349000 Upon the E:ie canal, the lccks. squeducts aud other structures, which deter. ‘ure size of tke enlergement, are mostly com- preted. The rk ebich remains to be done is princi- pally the adsptation of the channel work to the size of there structurer The Cuvel Board bave directed that the old Jocks be tween Port Beron and Rechester shall be lengthened and widened end contracts bave been made to have the work done during the ruspension of mavigation, so that they may be brought into ure by the firet of June. When this is sccomplisbed @ boat of the dimensions adpted to the enlarges caval Erie to the Hudson river When the ne' Oswego canal are finisbed the -ame class of boste can alro be used upon that route The mistekew impression prevails, that the work which has been dome upon the enlargement is ureless until the entire enterprire is completed. and this is fre- quently urged a4 a reason for making a debt to comp it at onee. wade huve doubled the eapacity of the cai When it ‘Woe first baylt. the boats used upon it carried, om an aver- ¢, lees than forty tons ew opnege of the boate built in 1844 was 64 tons. ad 1845 4 be de. The appl vation of ur lus revesucs, and some smell appropriat! do. 90 “ ops made b+fore the adoption of the eomstitu tion. bave incrested the cepacity of the canal aur je half since 1#44; and e locke are lengthened mext spring it cam be mavigate’ through {ts entire length by boats of the largest coutem: lated size, carrying one bi dred and twenty toms. Boats of this size are mow used bei vcem Rome and Albany, and between Buffelo and Rochester. the State Ei that with an expenditure of about $400 000, in on to the work under con: tract. the water cen be deepened no that the new beats oam carry one hundred and fifty tons. or four times the original tov: Only $200,000 of this amount will be pded for purposes that are temporary, or that will not ce the enlargement. The wock under eontraet for eplargirg the jocks will make this improvement of the ay ivdicpenruble Without it, the wedging of boate will preve @ serious diffoulty. If one million dollars oan be expended, annually, apo the unfinirhed public works the lateral canals will soon be finished, the emlargement ocnstantly improved from year to year, and the ty hereafter built can soon carry their full loads @f two hundre: and forty toas Thi- in- creare of tornege will not require any increave In the di- of those built after this year. as they will be of ed for the onisiged canals It will be geived by siiowing them to draw more water. Every irecremse of x inches to the draft will add about twenty. five tons to their loads To gain this increaced tonnage, from year to year. it Js not neecssary to make repented improvements of the whole channel of the coma! an Le obtained by finishing the enlargement at the obstraot- ¢d poivta and by proeuring en ebundant rupply of water at place ere the want of it occasions dificalty Of the exisrgewent. about one hundred and fifty miles completed The capacity of the rewail two bau- dred spd fourteen milee is very unequal on different se0- tiome. Cmrome pertions of the old canal the boats adapted tothe enlargement can be conveniently used, while in otber places the smatier ones when looded are delnyed by want of water cr by narrow chaunels, The points of least ospecity om the caval which may be very hort in extent. limit the dze and tonnage of the beats Vigating ive emtire lemgth Removing the obstr at etch points will practioa! the whole capal. The judicious tures fo the most veeced improvements will rapidiy im erease the emount earried by the enlarged boats ‘The wortern evd of the canal is supplied with water from Lake Mrie to the Benece river a distance of one hun- dred ond Dfty miles It is difficult to keep up iy for the locks at the tern end of through & narrow and ob«trneted canal, and the Btate hse been frequently eompelled to take water from the Genesee river and other screams. to the Qreat detriment of the manufecturing establiehmenta di pend: upon them The {ntroduction of enlarged boats will diminish the evil. as they will lessen the mam ber of lockegea and the amount of water drawn off by ench lockege, The early epiargement of the canal ab Gifferent points between Baffalo and Rochester will eu- tirely coviute tbe ciMeulty, and improve navigation, b; sllowing an abundant flow of water from Lake Erie It is very im * to allow the enlarged boats to be introduced at this time, for other reasons although their whole capecity cannot be used immediately. There will 3 oom | be a deficiency of boats, unless the number built in sia ear shail equal the nugb-r destroyed by time and use, | his will be very ijurjous to the commerce of the oraals. The forwerders end bostmen are anxious to build ther oats cf full xe. ro that they may not lore the value of their Iayeetmente jn thie kind of property. Those ves- tele will not be able to carry more than-one handred and twenty tons at first, yet they wili meet the inctested demande of eomimerce, while the quan tity they carry will not give them a advantages to destroy the value of th 6 present class of boste, These can be ran with oroft, until they are weru cat. or claced upon the lateral on. nals Many of the emaller beat ean be length ail will be able to make their trips in I heretofore The number now navigating the canals ls computed to the $3000. Th npport to their capers, many of whom bare invested al their pro perty in them. Any endden change. destroying the pro. piriy of a meritorious clase ofeitizers sbould be avoided. Uhiave de-med it my du y to give detailed wtatom on thir kubjeet to correet the impremion thet we can de Five ne aaveutages (rom the exvepditnres on the enlarge it iv completed: lo show that we are mow be o render from yese to year, by the jadi. nh of moderate sume, that we can bare an rigging capal until it becomes the eplurged ca nel’ ther ‘bis sennal increace of expaol'y ©il! moet the inertapy demand ot comm: #07 thai all this oan be efleclea @ithea the crea jon of « large deb. @hich ex. perlenes basanowm cob pre) asters! to oar public works be pargoe to direct the vat e cin cheonels traversing Con nee weliival crannies be made WWD tha lotermal trade ageimet the 4% Lewenee sed Misiedypt Inquiry hs resorved iat the excanee of oom 2 aDI eo Ome of Menieement Kownd, homntt on | foavels) meoag- went const tates one omy @sUFHre OF eneers 6 te tbe HUdert aking Many entertain the oovmion ome #fil fa fow nto mgr ate divert commean from tha exmah, lene mews: pnt if t be trae, the o is would be Of great to Mpg We roves of Gaxcpocration, Lboy agg omned atrot- Dy the he amount of borines upom the cansls is not © sm0UBE of the prodwesic ms and supplics bow far tbe upfortame © pe cy we have parsued | of i801 hes seriously affeeced the | This ia not eo The improvements already — _ SS A jowert point the expemses of cor eeying “heir prodectionr to market. Reilosds are owned by individuals whose interested im get ing large returns from their investment. While the camals are in good order and under jadicions manscement combivetions cannot be sucorrefally formed between corporations to the detriment of the public interests To complete our unfinished public works in the man- | mer shove propowrd it Is necessary to expend about, $2.00 000 sumuslty. If the amount of the sarpias tolis | could be rete red \0 the poimt at whieh they stood in 1801, they would ne rvfiietemt for the purpose but they are Jere (han $900,000 for the frou) year ending September | 20. 1852, and in the year 185 am additional eherge of | $400 C06 will be wade wpom tkem for the payment of the al debt. We bave r 1 praent low y of boats will oarnot bope that they Pill give ibe required smount beyond this ed fitional eborge of $400 000 We eannot rate the rates of tolls, avd it may be derliable to reduce them The competition bet wern the camel aod other ebannels | of commerce is Sry ne ive and very severe, AD increase of tolls woud either drive business from the carel, orit would compel the freighters and boatmes to he charges, which ace now low enough Low tolls not only wide the circle from whieh we craw busi- Bess. but They alse enlarge the bounds of the ma:kets the pri of the country are sold. If in commerer upon ovr canals, wo must do so by making them its chespest avenues, The great diffleulty with which we heve to covieud. is the apnual tex of $2.0 000 caused dv our present dedt, which will Dereafter be levied upon our caval commerce. in addition to the expense of herping the capals im repair. If we can heep cown the toll« and the charges for transporte tion, by the futro¢uetion of large boats, and au amnual increase of their loads we sball be able to extrieste our pubiic works from thetr pre ent e uburrassments. There is now estimated to be due to contractors, and for }end demages, Kc., for slarge portion of whioh draft bave been given by the Canal Comaiesioners o the Auditor, which ace unpaid by him for want of fupds.:.... sesecer es seeeecreeee $200 000 ‘The amount estimated to be due for work per- formed under the contracts made the 30sh December, 1601. in ........ cesses 900,000 ‘The cont of the work reeently let between Pert Byron and Rochester, will it Engineering and mitoe ‘The covt of the work on 91,800,000 When provision is made for the payment of the $1800 (60 Teoeived on the canal certificates isrued under the law of 1961, there will be made svailsble om unexpended of . -++ $260,000 year yytem ber 00, 1652 are equal waoxe of inst year, they wili amonnt to... 283 $825 000 The reputation and interest of the State requice that immediate provirion be made for this balance of 3829.00). A large portion of the amount is now due to the creditors of the State. mony of whom hold drafts on the Auditor, which have di-homoced for the it of funds. The Tetidue in to make indispensatle improvements upon the canals, The orly way to procure the money necessary to meet these prexeipg demands. is to impore a tax, whieh, | with thet now levied for the support of the government, Will emeunt to-about one mill om the sssossed valuations of . I deem it of great importance to secure an application of at least one million of doliarr, annually, towards the comletirn of the Generee Vulley Capul, the Black River Cspal end improvement, avd the goment of the | ebeprele of the Evie This will, ina erising from an insufloent eupply of water aud narrow | chavnels. and enable the boats hereafter to be built to cerry their full loads of two hundred and forty tons. Many expensive works of mete conveniencn can be port- poned uniil (hee eseutial pomtearegsined. A jadielous | appliostion of sx millions of dollars, (a svi newly equal to the original cont of building the whole Erle Canal,) ox | pended im equal annual sums, will effect these great ject. It is imposrible to estimate with any degree of accuracy, | the amount of the surplus tolls, during the next six | years Toenusbe the Sta’e to make an annual expendi- | ture of one million of dollars on our canals. it will pro ably be necessary to raise in each year, from some other source ab ut $600,000, in addition to the amount of the eurplvs tolls. | Different modes have been propored to raise the ems | pecestary fur the proecution of our public works The Legislature may. i each year, impose atax for taat pur- pete; or it may borrow the money uncer the provi- sions of the twellth section of tne seventh article of the cemstitution. which require that an anoual tax shali be im posed. that will pay the interest. and redeem the prin- cipel, withing eighicen years from the time of the eon- traction of the debt; or. = proposal to amend the eonsti- tution may be snbmitted to the people, which, by the terms of the consiitutiom, must beagreed te by # ma- jority of the membrrs elected to each of the two Houses, ‘oftwo dstimct and eonsecutive Legislawures, and then gubmitted ‘to the people for thelr approval and ratifica jon. Ubjections exist im the minds of some, to any changes ef the finsncial provirions of the constitution, as they are apprehensive that they may lead to the impro- vident ereation of farther debt. or toa postponement im | the time for the peyaent of the existing debt. If apy amendment ef the covstitution shail bs pro d by the Senate and Assembly. to enable the Legis- ture to borrow money to complete our canals in the | manner suggerted. it should conform, In all respects, to | the provisions of the constitution. in relation to the pay ment of the existing indebtedness, by requiring the crea- | tion of a sinking tend to pa | the principal of any such debt within elgaterm years | frem the time of its creation; and, if tho surplus tolls should be imuffictent fer the purpere, that the Legicls- ture +ball provide for apy defloiency by equitable taxes. + . The fineness of the State are mot ina natisiuctory oon | dition In 1814. the State had a fand applicable to the support of ite government amounting to $4 304,948. Thir bas beep speat and a debt oreated which on the lat Juve, 1816, amounted to $6 #92840 82 To extingutsh this debt the copetitution provides that the sum of $350.000 ebal) be set apart from the canal revenues, a8 sinking fund, to pay the interest and redeem the principal of the general fund debt. ineluding the loans to the railroad companies. After theeansl debt is paid, the sum of It was evicently the imtention of the convention to ead fix the amount of the canal and meral fund debt aa it existed on the let of 1846. and so to srrange the sinking fands that their avnual application would pay the interest and ® perticn of the principal of these debts. Ia 1849. the i owe alleged ji gen fund. and added this amount to the principal of the gene. ral fond debt. Other loans were made at the same aud the preerding session, amounting to #549 $19 84. whieh were added vo the principal of the canal debt. Thecon- atitutionality of these loans bas beeu asserted and cow troverted in official reperte. Without inquiring into their propriety at this time, it ls proper for ms to state that they prolomg beyond the design of the coayention, the time within which the canal debt cam bs paid, and wake the sum of $250,000 set apart to psy the interest and rece:m the p'incipal of the genevai fund debt. inade- quate to the payment of the interest. Instead of being aiminisbed this debt is inereasing by sceumniation of lnterest; or. if the excess of imtereat eror the $350 00° ie paid from the general revenue of the Biste, the means to the expenses of government are thereb leseened, nad creased direct taxation ts y ‘The «mount borrowed by the State se ts aloption of the constitution. in 1545, exceeds the amouct of debt peio by the «inking funds. It appeare from the report of the Comptroller. which ‘Will be submicted to you, that the expeasea of the Btato government fer the fiscal year ending September 40, 18)2, exceeded ite revenues about $210,000 ‘The report ef that officer wil) show the character of the expenditures and the mecessity for their retrenchment It is believed that many charges upon the treasury ean he cut off or diminithed Unless the exp-neos of the & w ite henefaetions to ims‘i- me. ume for the unfortueats of mente! and phyrical infirmitles. or it mnet in. ereare the amount of taxes imposed for the sopport of government A strict regard for economy and the mandates of the crgapic law ere of vital imporianee ia republi the interest and redeem | i i | | pears from examiuations msde by $1,500,000 la to be set aside im each year for that purpose. | | the trearary a: | written oj na, | 8D governments. The eonstitution of our State is the | barrier ereated by the people for their own protection or Sujuri lation The eon: | ited Seates is the bond whish holds | tegeiher the momerous independent States of this oon- fearrecy. enabling them “to form s more per feet union, estabiich justice. eneure domestic treaquillity, provide fir the common defence, promote the genera\ welfare. seoure the biessinys of liberty to n+ and our posterity. Under the terms of this compact, the different States of the U ceupying ® territory neurly whole of Kurope. hav: sted fa barmony. ntwithstand | ing greet diversity im thelr condition pursui preduetions. and demestic Institutiove We can porput te our | only by strict eomstruction ef tas con tution of the United states, and by copfiuing the actor of govermment to thors subjects desipasted in the com | pact or unfom, and which are of common imterest and valve to ail portions of this great confederacy The welfare of our Btate and on will be best pro- moted by rigid economy im the cunduot of their alfalrs, and bye strict maintenance of covetitutions! lav. HOGATIO 28Y MUR. Avnany, January 4, 1958 THE COMPTROLLER'S REPORT. Brave or Naw Your, | ComrrRroiien’s Orvicr, ALpaxy. Deo 31, 1852 | In chedienoce to chapter eit. title three, artic one, of the firet part of the Revieed S:atace aleo of cbapter 550, of the Lawe of 1317, the Comp troller haa the houor to submit the following aa nus) repor! are referred to and considered in vais report, are she folomizg, vin :— General Fund; Bivkin ond created by tho constitution fer the payment of the public debt ; Cena) Pad ; Ocmmon Srbool Fand ; Literatore Fond ; United States Deporite Pond ; and made THe GENERAL FUND All the ordinary expenees of sue Htate govern mrp! are paid from thisfand [ls navere ead objeots =i) bo enderetoed by referrnee {0 tao Revised Sta totes, part one, ohaprer nive. tile one. Ali appro~ preeviens made by the Legivla ore of an ex: raord Lory character, and not spectfivally ebarged apym some other fund, are also to be paid from the Gen ern) Fowd The following examples, taken at random, from Ce ee st | Hee eppepiieinns mnie by The several funds belonging to the Btate, whieh | Certain Trust Peods, to which reference wil bs ( i | first spply ing the premiums reerived for the will show the ebarseter of some of these oxtra- erdipary ebarges wpon this Fund By ehapter 66, of the laweef 1*52 the sum of ten thousand dol tated for the “immediate removal of the to the navigation of the Hud-oo river,” 407 ef the laws of the same year, the thousand four hundred deliars i» apprepri- ated to the payment of the travelling expenses of che present avd ome of the jate Camel Commistoners, for the years 2861 and 182. Im the opinion of the Comp trojier the let aepropriation was propery payab at alt from the expal revennes snd should bave been rged im the set by which it was made. He sug the pi ty of msking every appropriation 1 po je upon w rpecifio fuud. und in that y the wf (s Isrge portion of whose re Bus it derived from taxation ) bhieh +bovld be bore by other funds of the gertion becomes more important from charges upon the geners! fund for the largely exceed its revenue a¥ will appear wing :tatement. showing the receipts imto and the p»yments from the tressury on account of this fuxd, during the fises! year endiog Sepiember 30, 1852;— be protected from nera) Fo) the year en ding 20th Be; 1852, (Bee statement B).. $1,971,445 26 Amount transferred to the Rehoo! Fund Cspital. for Yorn on bends of Oneida purchase rausmee of chap 16), lew of 1860, 48,155 66 Amoust transferred to following funds for interest | —— 2.737 43 Amonet of warrante drawn on ihe treasury, remaining vnpaid ow the 2éth Sept., 1861.,.. 482 91 1,841,081 16 | $16,763 87 treasury. om account ef Genersi Fund durizg the | year ending 30th Bept., 1862. (Bee Statement A.) 1,192714 13 Amount transterred frem the General Fund Debt sink- | ing Fund for imtereet on | moneys advanced from the | treasury to mest the de: | 3,392 63 | | | lands received during the yexr. belonging te the Ge- $11,221 49 | $1,153,083 02 | Awount of warrants caverlled 166 31 Amount of warrants drawn on the treasury remaining ‘unpaid on the 30th Septem dew, 1862..... oo 239 30 —— —— $1,153,477 63 Deficiency of revenue om the 30th Sept, 1852 $188,843 53 During the part fiscal year the payments from the Geners) Pund have exceedes be an Comptre! as @ surplus of the revenus of the gegeral fund of $64.521 28 at the clove of the fircal year 1450, and that t ‘36th September. 1849. was $113 279 the fiscal year ending S0th September, 1850. the expendi- tures had exceeded the income by the sam of $68,- 767 94. Ip reference to the condition of ths geueral fond as exhibited by its receipte end expenditures, prior ard up to that time. the Comptroller remarks, that he ‘eontinues to entertain the opinion expressed te the Legivtature in his report for 1849, that the resources of the Gemeral Fund as now cone.ituted, will prove ruffi- ecient to provide fer sil legitimate expenses of govern- m nt, without @ resort to further loans or 11 bax: ation The exhibition made by the preceding statement of the | prevent condition of the General Fund. doss not show that the opinion then expresred, in reference to the ability of this fund te meet the ordinary demands upoa ras well founded It was at that moment giving evi- dence of th gradual progress of decline,which its present crippled condition exhibits In that year its receipts hud fallen below it: ‘penditores $55 767 94. ‘The report made by my immediate predecessor shows that there was s deficieney in revenue in the faad onthe | ‘S(th Sept, 1861. of $85.767 41. and this year shows the largely increased deficiency of $188,243 55, and this sum, with the balance in the treasury on the 30th Sept., 1861, | on account of the general fund viz : $15 753 87, shows | that the payments for the last fircal year have exceeded the rece:pts by $204,010 10. This sum is due from the general fund to the other funds belonging to the State, | and the mcney is taken from the treasury as the wants of the State require it. without re‘erenee to the question ether it is proper to psy out money for the ordinary expences of government, which. strictly speaking, belon; to one of the specific funds; but the practloe bas pre’ ed so Icng of using any mouey in the trea-ury to meet | the d+mands ef the public creditors, that it is now very dificult. if not altogether impracticable, to it. | But the Comptrotier feels constrained to ray. in view of + the present condition of the general fund, that erizid econcmy in the pubiie expenditures, and great watehful- mess on the pert of th ielature, as to the extent and ebaracter of its eppr jons. is neceesary, to enable the trespury to sustain itself for the future. | ‘The ordinary sources of revenue to meet the demands upcm the geversl fund are reasonably eertain as to amount. They are derived fiom the State tax, suction and salt duties, the annual contribution of $200,000 from the canal revenues, arrears of taxes, sales of lands, ped- | let® licences. and fees of the reveral offices. It is mot | ° 2 5 e mafe to estimate the amount of revenue beyond $500,000 perapnom. frem now ordinary sources ; and the estim: ts made by the Comptroller for a series | | ofyears, will show that it has been placed comederably below that sum. In 1849 the estimate was. + $771,500 00 1850 “ = ict = . 200 00 1851 * * . « 672 630 57 ‘The estimate for the current fiscal year ts $749,540, eee statement of the estimated revenue 24) but om this sum must be deducted the charges for ex of the Onondaga salt springs, estimated at $35,000, and | the estimated recetpte vuction duty, vis: $115,000, | is prebebly too high In view of the present condition of the leipated revenues for the mext ear, I cannot advise the Legirlature to adopt asa basis | of expenditure and sppropristion, beyond $700,000 for this year. An expenditure of this sum cannot properly be made, if the L+gislature shall concur with the Comp- troller in the epinion that itis right and just that the eperal fard :hould reimburse to the specific fumde the jarge sum taken therefccm, to meet the ordivary expen- see of government, instead et suffering the Indebtedness cf the general fand to the specific funds to increase from year to year, under the present system of keeping upon the books of this office separate accounts with each of the funds of the State, and naving but one tres«ury, into which all the money received by the Btate ir deposited, without reference to the fund to which it belongs. ‘The operation ef this system at the close of the year is this, that the Comptroller and Treasurer bave assented to the payment of money which iy belongs to the *chool o: seme other trust fund of the State for salaries of public officers, appropriations for howpitals or roads, or | expenres of travelling commissioners, created by resolu- tien of the Legislatare, or any other objret of State expen diture, which ecnrtitutionaliy, or legally, could only ce paid from the general fuad revenue, and which would not ‘be paid if it conld be known at the treasury when the mo- ney belonging tothe general fand was exhaused, and that the money remaining im the treasruy belonged exolusive- | dy tethe otherfuud« It is sow ali mingled together, and the Comptroller is not aware until the accounts are ‘at the close of each fiscal year. that be h violated the law, by wring morcy for expensen of the go- yernment. which escredly bel: ther fawdr, crea’ and set epart by the conrtitu'ion and laws for specific urposes. Lhe Comptroller renews the suggestion made Pesstorore im tole report. of makicg every sppropriation | of morey specifically payable from a *peciie fund. as ote advance towards a referm of tois difiiculty, and thus approximate somewhat to the object to be accomplish of enabiitg the disbursing officer to know what charges are made against each fund, as he pays the warrants at the trearary. ark the attemtion of the Legislature to some extraor. ry charges made upon the pues of the General Fund prove out of loans mad» under the authority of | chep 874 laws of 1849 entitled, © an act to provide for | ex reordinary repairs aud improvements of the eamuls,” — od chap. 601 luws of 1501. entitied, ‘an act to provide foc the eulargement of (be locke of the Oswego canal.” By virtue fixet Inw. the sum of $60,000 was bor- rowed. and applied to various objects connected with ordinary a. xtracrdizary repairs of the canals by virtue of the last law, the sum of $200,000 was borrowed | i» December of last yeor. upom which premium of nine per cent was ebtsined, auc a further ruin of $200,000 was to be borrowed in 1862, and both sums were to be applied | —trst, to the enlargement of the Icoks of the Vswego | eapal, and any surplus beyond the contract price for en- | lurging the locks was to be applied towards the ealarge ment of the Oswego canal. The firetiaw made uo pro- vielon for payment of the taterest; but it was paid eut of | the premiums received upon loan, until last year, when the Legh lature pereed a law appropriating $658 75, | to pay the deficiency of interest advanced from the Oanal 1 also $3 000in ench of the years tnd 1862 to pay tho interest for thore years. “This mone) was tukem from the general fand to pay interost ona loan made expressly for repairs and improvement of t {tis for the Legirinture to rey whether any oud be msie od on this loen fur ppropriation from this fand for this purpose, The law of 1851. to enlarge the locks of the 0: zal and also the canal iteelf cherges the int to ite | osyment ond the prineipal debt, upon the general fuod, a | | lows aotboriai iin a provision. bowever tbat both rhail be repaid from the caval revenues, “whenever the exiting oomstita thereon are folly discha.ged, und after pplication of the comel revenues bas beam nder the requirement. of the ec artitation, 10 (we jon of the Brie Ospal enlergement, and of the Valley and Black River canaly.” bis result 1865, amd, * Generee e.nnot beppen under the coumututien ont in the meem ime, the general fand must pay the annual interest ‘The preminms received were $14.000 and the interert Se $1200 per wnnum. Two thirds of the pro yolum Is slready exbansted by pay ment of too your's ia thie month, Provision must be wule by this bre in meet the defieienoy of inerest for the our r. after epplying the $6 000 of premtums on hi Ppropriation of $6,000 in necessary for tuis p oe While the Comptrolier entertalne mo doobt that the there joans were wosuthorized by the ction of the reventh ariole ef the copstivation, be they vows nos debts orested “ to mew: caeaal dee flcite oF failures of revenue. oF for expenses not provided +” end were not rub@itted to the people by virine of tae tweith rection. yea the dr bty are to be paid aud pro- vlon wm made to meet the interest, [8 is, however. A)flealt to understand upom what principle of righ? the | ert of them loons, peyment of either primeipal or f woe ehoreed upon the wads exprerely for cenal gocres rusian bene. | Amount freued in 1848 per cbap. 443, Laws Dave & rich revemes piney / they ans sare. and an ivereasing one. The general fund is slready rivkimg uncer its acoumuleted weight of wpeutherized debt, apd terse additional eharges of similar obaracter serve to mike taxation amore cortalm and onercus. Tn the opinion ef the Comptroller the only true. safe, av¢ honest rule in referanow (o expenditures either by individuals or Staies ix to keep such expenditures within the legitimate and well avcrrtained roucses of ino Wh urges economy im the public expen litares, he is not Iureneible to the pumersus ard jut claims of the weny charitable sud scientific iostivations of the State upon its bouaty. The bind, thy dumb the 1°, {dict bave ali berets fore brem aud benceforth will be e1 titled tothe substentisl helo of s liberal State eharit; end the bor pitals, dipemeuries, and other eleemosynary institutions, claim the fosteri:g wid and support of the trouenry, inciuded in the estimated revenue far the current r, ix the sum Cf $160 (00 for arrears of (axes duo for the years 1845, 46, 47 aud °45. ‘The eale for these taxes ie the last to be ma y the Comptroller. and it is hoped and expected thatit will take piase aome time curing the eneuing summ@r, ‘The lists aud books prepa- rmory to the sale are pesrly @ompleted, and the sale will be advertised as r0cp as they are finished. The law re- quires a notice of seventern weekw to be published price to the ssle by the Comptroller, which will carry it into for the taxes of 1849, was had im the several of the State om the first brig tha! month, paruant tothe law of april i0 1860. chapter 208, By this statute. all future sale of lands tor taxes, including thoee of 1649, must take place in the counties, under the Clreetion of thy c us'y treasurers This isan entire change jn the aystem of celling the lands of non residents for non peyment cf taxes aud vo correct opinion can yet be given of its practicel eperation; it is apprehended, howaver, frem the imperfect exreu'iom of aome of the provisions of the law by the wes officers ia charge of tha subject, as already shown at this department. that eonsi- derable deloy and rome cifflculty will ba experienced by thore withing to pay the taxes acrcseed, of redeem the land ajter ele ‘The deloy in preparing the sale for the years 1815, 45 47, and 48, hus been oveastoned maioly by the ncoessi- ‘of getting ready the books, lista and statements for ty this sale under the iaw of 1860, It was ag entirely new aud labcricus duty thrown upon the department, requiring all the clerionl force at its dispo- oe) biti ar spring sed sumwer.and whieh, with the ordinary duties of tl ortion of the time at its disposal 1 devote to the preparation of the rales books of the previous years. There ts due to the State for t»xes avon lands reserved: from the rale for the taxes of )54. 1841, 1842, 1843, and 1644, im the Indian Keser vation, ine in the counties of Cattaraugus and Brie, the sum of $112 261 80, principal and interest It is claimed by the Ogden Land Sompeny the en that these lande were mot rightiuliy subject te for thore years. and aruitis mow pending uadeterm! in the Bupreme Court, the dection of which will settle that question, If the deolefcu should be favorable to the this year, a1 anticipation of their receipt ‘The Legislature in referred tothe report of the Comp- trcller for the year i844, page 74, 351 schedale L, and the yeport for 1849, pege Th. for full information as to the frowns upon whieh peyment of these taxes is eon- tess Im addition to the apowal approp-tation of two teandred. thousand dollars from the revenues of the eanalstor the support of government, by the third section ef the seventh article of the constitution, tbery will be at the disposal of the Legislature in 1855. under that seation, for thia a turtber sum of one hundred and ‘ifty thousand Provided the revenue of the State appropriated by the seventh article :bail not at tha: time be suffiziont to de- fray the necessary expemacs of the government, without continuing or levying a direst tax. it isshown in a sub- sequent part of this report. that wo increased tax will be necessary this year te meet the estimated expenditures and supply the deBciency im the revenue of t! mera) fund. It must be continued for the future, under the pre- sent rate of expenditure, util the State debt is paid off and the revenues of the cassis turned into the treasury for the support of government. It {+ hence certain that im 1855 this sum will be added tothe means for the support of [ abeg heap a and subjest to the power ef the Li ture. ut the Comptrolinr onnnet avdvise any anticipation or sppiication of this revenue while thy gemeral tund con- Hibid 80 largely a debtor to the spesitiofunds of the e. GENBRAL PUD STATE DeUT. Statement I Shows the present amount of the debt and the particular items which compose it. Statement Il. Shows the amount of the debt at the adoption of the constitution, on the lst January, 1847, and the reveral items which bave been adaed thereto, and by which it has becm inoreassd from the sum of $5.902 610 62 to the cum of $6,580,693 32 since the adop- tion of the eonstiiution. 1, GENERAL FUND STAT DEBT. Biate Stock, Amovot fasued in 183%. for the Astor debt, per chap. 302, Laws of 1827, and 86, Laws of 1883, redeemable at pleasure, 6 per cent. $561,600 @0 of 1848. (to meet the payment of an equal amcunt of stock issued per chap. 15, Laws ‘of 1840, for louns from the rpecias fund: due let January. 1848 ) redeemable January. 1855, 6 per eent........ Amount issued to the Itbacs and Railroad Company, in 1838 and 1640, bap. 295, Lawn of 1538, and chap. Laws of 1840. vin :-— 43g per cent. redeemable ist 348,107 00 Sa, 315,700 06 Amount fseued to the Oanajcharie and Catrklll Railroad Company, in 1828 1832, and 1840, pec chop 340 Lawes of 1835, 6 per cent, redeemable as follows:— 40,000 00 Awount lesued to the New York snd Erie Bailroad Compexy, from 1808 to 1842, por chsp. 236 Laws of 1848 and chep. 198, Laws of 1640 redeema’ as follows: — BU & per cent, ferued per Rr vired Siatut 1844, for loans from the Ruilroad Sinki Funds, payable on demand. 634 per cent, eeued in 164%, for treasury, payable on demard.. ses 6 per cent. issued for Revined statates, for Joans to the treasury 1640, from the Kail- Toad inking Funds, payable on demand 6 per cemt, ieeued per Ks vined Statutes, in 1845 and 1848 for loans from the School Fund payable on demend... 6 por cent, ineued for Revised Statutes, in 1848, for loans from U. 8. Deporite Fund, payable op demand..... 6 per cent, sued per Mevived 9,387 74 451,648 49 428,739 44 in Statutes, 1846. for loans to the treasury, payable Int October, 1898.0... 0600eveeeee: 6 per coat, issued por Bevired Statutes, im 10,000 60 2245, for a loam from the Consmiscioners of the UB Depoelt Fund of Columbia county, payable on demand 6 per cent, isued per Revieed Siaty 1846. fora iven of mone, 3.995 84 in he.d by the Comptroiier in trust for the Delaware Academy, payable on demand... a s per cent, iseurd in 1545 per chop. 114 Laws of 1842 for loans ficm ind: vidaals, &e,, payable let July tso2. es er cent, isnued in 1818, per chap 836, saws of 1848. for @ loan from U S&S, De posite Fund. paya' San 6 per cent, issurd { ¥, per chi Laws of 1649, to diechatge che ojaim of the Canal Fund upon the General Ford, redeemiabie lat July, 1856. 6 per cent, issued per chap 37. Laws ef 1850. andebap 2:5. Laws of 148 for the beneSt of the Stockbridge Indians, pays- ble at pleesury + 36.000 00 Total 4,825 00 407,000 00 6,000 €@ neuilice Ameunt required, if invested at six por the oum ef $7 26. 69. be- ing the smouns of the annuities payable sundry Indian tribes .......... 000 veces $122,008 87 Amcunt cf the General Furd Debt 6,389 698 32 ‘Amount cf the Camal Dob.t.....+++- "16,600.109 16 Caral revont tificates, under Inw of 1851 1.590 000 00 Contingent Biate debt, (see statement B)., 933.086 16 debt of the Stat Ke: ‘th tificu‘es, which are mor regarded as a part ot the actual debt of ube Siate «$94,923,833 64 1 THY GENFRAL FUND DEBT. The smount of tre General Fund sate Dobt, at the adop- tien of the courtitation, Jan |. \847 was $5.9028i0 ‘The debt. bas beem inoseared au follows:— Loans bave been made for which the Comp- troller's bonds were issued, vie 0,608 60 in 1840, rd In 1640, Compioller’s bonds fected Im parrusoce of chap Yu), Lawa Of tha! year, for... 085,000 00 Comptroller's bonds wave been Se. sued bo create the fund ( “choo! ® 1) for the bemelt o1 the Stova bridge Indien, viz To 184% 5.000 C0 In 18e1 20,009 00 26.00 00 --- 467,000 00 There bes been paid on aeount of the debt, vie: Tn 1847......4 $18 000 69 In ides . + 47,147 50 In 1860 + 89,000 60 em 70.147 80 Precevt amount of th $6510 938 82 ‘Lhe prineipal increas wae mado »y viréwe of chapter 226 ef the Jaws of )R49 Hy thir not the num of $585 009 wa ndited to this debt, ‘eture, chat chat be wana ( ween che fie eho Upen the aeumpiion by fom was due fem v for edyenoes mate b, day of Jone and the + and not crediced tu the ex A eves due That fund. when the consitutton cook effet on the tiret dey of Jennary, tt Tbeve vpom a former oecarinn ( €8, of 1809) exoremed my vinws as to the constitutions ality of this twerenrs of The Stete dedt, ant I will now only repest the opinion then stated thar thie debt was wholly unauthorized by the constitution, It wae mot pel Invastom, sappvess !nyarrestion war,’ aa provided in pest, 11 of the 7th article, not conizected ‘to meat eerual do- Dee im bevemme, ot fer OxpeRees Det provided fer,” as Jeni ta Dooament No,