Newspaper of The New York Herald, January 9, 1847, Page 1

Newspaper of The New York Herald dated January 9, 1847 Page 1
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T H Vol. XIII, Mn. I?Who la Ho, 4605. THE NEW YORK HERALD. iaiuicq nnrnnmbcmmctt proprietor ^nifiuw UUllUVll ULIlllb 1 1 | 1 ,,wi ,l,b wi%i Circulation?Forty Thousand. d.ilLY HERALD?Every day, Price 1 cuuper copy?$7 II per annum?payable iu advance. WKKKLY HERALD?Every Saturday?Price 6>? cents per eopv?$1 12)4 cibu per annum?payable iu advance. HERALD FOR EUROPE? Every Steam Packet day, Price til4 ceuta per copy?13 00 par auuura, payable in advance. ADVERTISEMENTS at the usual price*?alwayscaah III adv.auce PRINTING of all kieda executed with beauty and deeAll lettera or communication!, by mail, addreaaed to the establishment. muat be poit paid, or the pottage will be deducted from the subscription money remitted james Gordon bennett; Proprietor of the New York Herald establishment, North Weat corner of Kulton and Naaaau atreeta A FOR SALE -The buildings aud leaae of the lot No, 11 Robinson it raft Front hua e wood, rear do brick, Iwent> -four years unexpired Iroin September next? s per deed) 20 by 10. For further information apply on the premises jg 2w ?rc A STORE TO LET IN Rt-AKL STREET. MTHE Large Store aud Basemert, No (6 Peatl street, adjoiutu* Pearl Street House, it welt adapted for jobb <ug or hardware, for which it has been for many tears utcu, isd, and is fined with shelves, eonoters, cuitaina, Htc. Possess ion may be had im-oediitely il desired. Kent mode, rata. Apply to Thomas J. Carter, No. 41 Liberty street, at Messrs. Artoil It Deaison. ijrTXrer WANTED, MA HOUSE suitable f-?r an extensive private board i*g hou<e, aitnao d iii-the lower part of Broadway or in the vicinity of the Battery. Any perion having inch an huuee t# let.may hear of a reiponeible tenant by addreniug a note with full particular*, to box 1,229 lower poit office, jl lw*rc FRENCH'S HOTEL. MTHE Proprietor reipectfnlly inform* hie friend* and the pnbiic that he he* removed from hi* late hotel iu Fulton atreet, to hi* other hotel, 14 Chatham meet, a few door* ?e*t of Pearl atreet, to which he ha* added additional bedroom*, and famished tuem in aityle that will beat favorable companion with the very beat hotel* in the city.? Upon no oecaxion wi'l there be more than one bed in a room, the price for which will be 23 cent* per night d 17 lm?rc FOR SALE, jjfd A THREE STORY HOUSE on JJdetreet.betweer tviuB the 2d and 3d avenue*. It i* well ftuiabed. and replete XySLwith the lateet improvements, including kitchen range, aiult, told and warm baths, water eloaets, Ike., Italian marble mantel* throughout the houae; a court yard of 13 feet in front with verandah and Kreueh window*. The houae is one of n row of six homes on the south side of the street. Fot farther particular* apply to VYSE It SONS, dl3 liri*rh 172 Pearl st JOHNSON'S-BIRD STORE; JVo- 280 Broadu>iy, 2d door from Staoart't. M. LONO BREED CANARIES.?In addition to my - , y3m large stock, I have pureliased two more Iota, very fine ^HFwhicli 1 would like the public to call aod see. Bird TlWtenw in great variety, bird seeds, he. The public ii invited te hear tnetu sing in the evening till P.M., by W. S. JOHNSON. 280 B oadway. d31 tw*re ad door from Stewart's. MUSIC, THE ONLY TRUE BONO. ARCHY GRIEVE, thereat caterer of Cjuicy arid VJki o "'"J"1* DOW on nana anu prepared to onei xJ&Z. the beat seluccion yet offered to au American public Be ected without regard to price from erery quartet of the Globe, Amougst the following will be found thi meat choice description of fancy long and varied Canary Birds, matched aud prepared to be put up for hatching, (witli breeding cages Made expressly after hia own design.) Alao English French, German, African, South American, Chi ne?e, aud Douieatic. Together with the most choice de scription of barn door Fowls, Docka, Geeie, English ami Norway fiwana, ailrer and golden Pheasants, and Newlouud laud. Kiag I'hurlea Spaniela, French and Spauish Poodles Jtniiau Grey Hounds, an I every other apeiies of rare and fancy Dogs; Bird Cages of svery variety. Also, Archy'i Treatise of the management of the varioue descriptions el Birds, btc. lie. N B Every variety of Bird Seeds, Cages, lie. P. 8. Letters, postpaid, will at all timaa meet with prompt attention from A. GRIEVE, No.# John street, New York. YOUNG t3F.NTLE.MEN,J Look out for your Christmas Presents. Archy will be re membered nhrn toe candy and the cakes are forgotten. Bo. quels put up by his own hand, in hia usual ityle, at ahort no; tn e. dil tf rrc. Dit KfiLLUSGKK's ?n _ INFALLIBLE LINIMENT ii warranted tt IsJfacnre sore* aud ulce.s of ever, nature in a few days actr lika magic in removing rheumatism, aud ?I] elli rp uns. One or two doaea is cert ,in to relieve biliom eh lie, diarrUma, kc.. aa tt is taken, it it perfectly delight ful in its odoraud flavor It is universally ackuowlrdged tc be the best f.miiy medicine ever offered to the public, frici 40 cuius per bottle Sold at 330 I'earl street; corner of Bowerv and Broome; 3i aaeuue and 10th str<et;Jell'ries'drug store; Dr. Burrett'sDfe er and I hsthain, and at the 11.11. ollice, City Hall , j t 'm?rc L'lAISfti: 1'A lit), NO. 12J>i FULTON STREET, QR Sell an exeelleut at #3 00 and only charge $3 40 foi jMhtlisir Fihst Qualitt Muleskix and Nuthia Hats. N i.-PLUNKE l'T It PARDESSUS warrant their firs quality hats to be equal,at the very least, to those <>! any othei establishment, and assure the public .h it it would be utter!] imiiotsible to sell such a.n article at a lower p i< e thai $3 30. lias lm'ric fS THREE DOLLAR HATS?The undersigned hai JPM just finished au assortment of " Beautiful Nutria tiata,' which he will sell at the above pree. The?e Hats will re Uiu their shape and lustre as long as any $4 Hat sold. ROBERTSON, 09 Fulton street, between William and Gold. N. B.? The undersigned does not pretend to offer thi " eery beet Nntria Hat*" at the above price, (that being im poaatble); hi* " belt" heaelle at S3 50. ^IdJw'r ROBERTSON. OVER SHOES. LA Dl KB and Oeutlameu, at 367 Broadway, yot lie J the j u.*e ahee I India Rubber Over Shoe frumthe larg e*t to the imalle*t, and a* cheap u yon can thoai matte out of old rubber. And a large aaaortment of cork Sole Doable do, aud light Kreueh Boot*; alio a great aaiortment o ladiev miuea'andchildren'* boot* and ahooi, equally cheap at 367 Broadway corner oi'Krank'in itreet. dg ltn'rc GOOD* EAR'S OVER SHOES, 100 BROADWAY. LADIES' AND GENTLEMEN'8 OVEI egtfrPLT SHOES, mauufactnred of Goodyear'* Celebratei Patent Metallic India Rubber, perfectly flexible in Die cold eit weather, For eale bv the e&ie or afngle pair, by BHOWEK i BROOKS, Sol* Agents lor Goodyear'* Mannfactoriee, dllm*rrc 100 Broadway, nppoaite Trinity Chnreh. " ~ FltEMlOM HOOTS (J*ie.k StiUt and Small Pro/la FINK FRENCH BOUTS for $3 SO, onr own make Sand warranted to give (atiifaetion; hue French imperia Dress Bool* fir $4 50, equal to thoae usually eold ii Broadway for SO o *7, at YQLNU It JONES' dr. French Boot ?nd Shoe Man tf icAftry, one of the moit faab touable hur>* in thi* city. Onr boot* received the high** prate* in the lute Fair of the American Institute, for th prte*. ercr eold in thi* city. Boot*, Shoe*, Gaiter*, tkc utad to order at th* ifaorteet notice. Mending, Re. don* in th core. i yuLiu ? ju.rns. i Aau ex ds im?re KOH CHARLESTON, S.C., HAVANj AND NEW ORLEANS?To mi) on 81 /%jSSr*Jti^aturil<y, the 9th ot January, ?t 10 o'clock <^t~v? iWTmTl1 A. M.?The new and elegant steamshi ORLEANS, of I,#00 tom burthen Jnhe T. Wright. commander, will soil auove, end (top i Charleston end Havana, by particular request of passengers. Ker freight or passage, i aviuii elegant luruitlied acconi modal i oh s, with ?wte rooms, apply to the captain, on boarc f..ut of tth atreet, East Hirer; or at T. K. Secor ?t Co.'i font dry. dI7 tJi^rh UNIO> LI a IS OK P.ACKIfi I'd POtl LIVEH IffwikV POOL?Packet of the 16th Jsumry?The firoril ASySsbaod fast sailing packet ship SOUTHER N Ell, Cap Palmar, will positively s til on Satuidiy, Janury 16, her r< gular il'y. Ilpr accommodations for cal in, cond cabin and sreerag paste kits are u equalled lor Comfort utid convenience.fhote wishing to i*cure berths <hould inako early applici lion on board, foot of Doversir* e', or to W. 6c J. T. TAPSCO I T. 86 Son h tt., 2-1 door below Burling slip. The SOUTHERNER will sail from Liverpool on tlie lOt March; persons wishiug to send for their Iricudicau liar iheio hrou ;ht out in her on rcsioualle te.mi, on epplieatin a i above * ja7rh FOR LIVI* RPOOL.?To.gtil positively on tl: KTT5rV13th Jtiin.ry.?1 he new msgi.iftceut, last aailini At&SBm I'ac et ship ELSINORE, burthen llOOions, It, tali. i'i (<;t r, will p sir velv sail on Wedue?diy, I3ih Jai naiy. The neenmm dstiouf lor cabin, second cabin, an steerage p ssaugrra, as to comfort are unequalled by an oih'i vessel in pigt ; | ertons intending to embark, would ?i well to go on board 'nd judge for lliemielies before eng g'ng i Lew here, ror further i articulaia apply ou bo?r< juo. of Dover street, or to JOSEPH Mc'.VlURM A V, _ corner of Piue and Soulh streets. P. S?Iersnns wishing to stud for their friends Irom tl old country, can h we thtm brought out on reasonable tern ill the above ship by applying as shove. jen7 iti - mp-.v L'/IU I I Vk lil'fWII Taw -v.l . i_ .1 rw?? n. ? ?.?w Kill nrini Ut'*|>4ICII wMMVThe splendid lirst class, fasr sailing |>ackc( KAL/ JKmmmVI AZOO, Captsin Clark, burthen I.Otaj tons. jlk ,i cumiiMtUnoi'* for cabin, second cabin and iteeraf pitasengera, at m comf rt, are unequalled by any ihip m poi Persons m ending to embark would do well to go on boa and iu(lge lor themselves before engaging elsewheie Ki furilter particulars apply ou board, pier Mo. i North Hirer, i to JOSEPH Jl'MUKRAY, Corner of 1'iiie and Mouth ate. T 8 ? Persoea wiahiug to send for their frieuds I'roui the o couutiy cau ha?? thein brought out by this ship on teasonab terms, by applying asabore. lire FOR U EN O A?The superior bark FATRIO r?^?Capt. Smith, Will be dispatched for the abore po '""Im'a lew days Kor freight or passage. hiring t cedent accommodations, apply to the Captain, on board, to BOYD ftHINCKEN. j j rh HO Wall st. s.itfA*' faliKtiTV Kttit HAVllE?second Line?1 ^TC*Wi>aeketahiu ST. NICHOLAS, Capt. N W. E? pHMMbleiith, will sail On tbe liral day of February. K freight or patsage apnly to BOYD ft HIN( KEN. ji ih 88 Wall at A/ftS- Packet KOH iviAKSICILLCS?The pact kHM^?Ihp NfcUHAMK A, Capt. Jas. Waison, will sail MMMfliHi he Oili ol Januiry. Kor freight'.r paange apt to CHAMBERLAIN ft PHELPS, 10] Front at. or to BOYD It HlNCKKN, j7rh m Wail at lANChtJ TO 1KEL.AJXD, fcc. iMk i?>jV j|J| IjTTuKUK Me i-ai OK, Jr., haa r^uoveT liia office ,u f 4t Broadway, n il coiitinuea to remit money, in anuia In fce am.dl. to petaoua reaidinit in any part or Ireland, in the aa manner a* he auil lua pirdrri'tanr in huaiueia have done the I tat thirty )r?ra and inore;alao to any pnrtol Kujland Heo.lniut. Money remitted by letter, poat-iatd, to the auhacriber, personally depoiitea with him, w ith the name of the jien or peiaoua m Ireland, himlaiid, 01 Hrotland, to whoin it II he arm, anil nearv.t poat town, wi.l be immediate!} tranari ted a d paid accordmiily, and a receipt .to that effect *n t foreraided tu theiendor. nM E NE NE ANNUAL REPORT OF THE 1 CO MPTROLLE R. STATE OF NEW YORK, ( Comh Roi.Ltn'a Orncc, ) Aliakt, Jan 1, 1847. To tht Logitlaturt The Firat Section of the Third Article of Chapter 8, Firat Part of the Reviaed Statutea, declares that" it shall be the doty of the Comptroller, to exhibit to the Legisi , lature, at its annual mooting, a complete atatement of < the funda of the State, of its reeenues, and of the public expenditures Juring the preceding year, with a detailed estimate of the expenditures to be defrayed from the treasury for the ensuing year, specifying therein each object of expenditure, and distinguishing between such I ? ?? |fiviw?<? (vi v/ }iviiii?uviu ur temporary appro mixtions, and *uch aa require to bo provided for by law; and showing the means from which auch expendiI turea are to bo defrayed " Alio, " to suggest plana for the improvement and management of the public revenues." The 8th Section of Article 7, of the new Conatitution, which takea effect on the first of January instant, piovidea, that " No money ahall over be paid out of the treasuiy of this htate, or any of its funds, or any of the funds under ita management, except in pureuance of an > appropriation by law; nor unless auch payment be made ' within two years next after the passage of such appro1 priation act; and every such law making a new appropriation, or continuing or reviving an appropriation, : shall distinctly specify the sum appropriated, and the abject to which it is to be applied; and it shall not be sufficient lor auch law to refer to any other law to fix such sum." This provision will suspend all payments from the treasury, except such appropriations as have been authorized within two years of the time of paymeut. It will be necessary, therefore, to have au appropriation | bill passed immediately, for the payment of the ordinary current demands on the treasury; and for interest , payable at the treasury an temporary, and other loans, ; and for stock issued on account of the Bank Fund; alto the annual dividends to common schools and ecadcinies, which are payable from the Common School, Literature, and United States Deposit Funds, he. The expenditures for tbo support of the government, > are made chargeable on what is denominated the General Fund. This fund, in 1814, besides the auction and salt duties, had a capital of $4,396,943 97 yielding rove i nua. A million and a half of this capital was applied to i the paymeut of a Stato debt of that amount, previous to , 1825. From 1817 to 1836, the reveuues from auction anl salt duties, were appropriated to the Erie and Champinin 1 canal-i Ho much of the capital of the general fund as re! mimic 1 after paying the treasury debt, was either appr priatcd to the Common School and Literature Funds, or used for paying the charges on the General Fund for the support of the government, as provided by the act, cha|> tvi .juuiuin iuwiui ira*. Tho principal fundi 01 the State aro the following 1. The O neral Fund, on which the ordinary expenses [ of the government arechaiged. , 3. The Common School Fund. 8. The Literature Fund. 4. Funds of the several.canala, ten in number. 6. The Dank Fund. 6. The United States Deposit Fund. The total sums charged on the General Fund and paid I from the treasury, for the fiscal year ending on the 30ih r of September last, is $1,-143,810 90 Total amount of receipts into the treasury r for the same time, on account of the Ge! neral Fund 1,137,340 24 ' Deficit in receipts to pay expenses $80,47* 00 FundI Devoted to Education. The amount of capital and annual revenue of the seve1 ral funds appropriated to the purposes of education, are as follows;? , Capital. Jin. Revenue. ' Common Sehor.l Fond $3,131,94101 gll'.iso SO L U. 8. Deposit Feud 4,011020 71 276 6-7 o0 ' Literature Fund 267,196 31 17,333 99 . Total *6,413,660 23 $411,202 19 1 In addition to the above revenues, applied to the purposes of education, the following sums are paid directly from tho Treasury, yi* :? , To tho school in New York for tko instruction of the i deaf and dumb $-13,191 99 To the Institution for the Blind in New York.. 17,673 48 , $4-2,788 47 This makes a sum nnnronrinfed annnallir tn ih? i ?o* of education, of $463 970 60. The Minis paid during the last year from the revenue of the UDit:d Slates deposit fund, ure us follows :? J On account of School Fund dividends $160 000 1)0 Literature Fund lor distribution to academies, 99,000 00 I Literatuie Fund for Normal School 11,000 00 To the University of New York.. 9 000 00 To Geneva College 6,000 00 To Modicul Institution of Geneva Collogo. . . ^1,000 On To Hamilton College 3,000 00 To Albany Medical Collage 1,000 00 r To Eye Infirmary, New York 1 000 #0 To Genesee Wcsleyan Seminary 9.300 00 1 To Indian School at Onondaga 377 70 ' To District School Journal 3,400 00 [ To deputy superintendents of common schools 14,300 01 , .... 499 33 $'146,309 94 The 9th artlclo of the new constitution provides tnat "the sum of $96,000 of the revenues of the United States Deposit Fund shall each year be appropriated to and ' made a part of the capital of the Common School Fuud " The interest actually received on account of this fund for the last year, ia $463,990. This does not include $99 696 90 received for lands sold, which had previously been bid in on uccouut of the delinquency of the mort' fegors. When a delinquency occurs, an amount equal w un |'nuv'|><ii luui uiaun unpruuucuve, is laaen irom the annual revenue and added to the principal, and | when the landa thua bid in aio again aold, the avail* are >, counted and uied aa revenue. These avails for the laat rear, added to the revenue the anfount of $33,686 30. as i before stated; and there has also been transferred to the I I capital of the School Fund the sum of $31 000, being the il I amount of bond* receivod for sales of land* hid in by the r county commissioners of the United States Deposit Fund. There it, therefore, for the year ending 30th September, the ordinary interest $363,080 Oil Cash received on account of lauds sold 33,6*6 3(1 Applicable as revenue $376,666 30 Besides $31 000 in bonds, which are transferred to and now constitute a portion of the capital of the common ' School Fund proper ? The appropriations from the income of this Fund by . existing statutes, as befoio shown, amount to the sum , annually, of $316,308 94 s Add appropriation to the capital of the e School Fund, by the Constitution 36,000 00 s $371,308 94 - Tho interest received on the capital is 363 980 Oil Showing a deficit of. $18,338 94 p The payment, annually, of $3,300 to tho General I, Wesleyan Seminary, will cease after 1849, the apnropri* it ation being for six years from 1844, inclusive This ap propriation is paid trom the revenues of tho U. S. Depoj site Fund, and is appliod to the payment of a bond and ' mortgage given by the otticora of the seminary, on ac count ul a loan from the school fund, in 1839 A history of the whole transaction may be seen by reference tc " Assembly Doc No. 38. of 1841, " The appropriations to the University of New York ,1 and Geneva and Hamilton Colleges,were originally made in IB-Id, tor five years, " and until othei wise directed by e low." - In 18-11, acts were passed Riving to the Albany Medical '* college, and tho Medical Institution of Geneva college each Ave thousand dollars annually tor three years amounting to a total ol (30,000. After the expiration o h the three yeats, another law was passed, chapter 179 ol e 1844, appropriating (1000 per annum to tho Uatieva and u Albany schools, and making a new appropriation ol three thousand dollars annually, lor the use of the Medical - i Faculty ot the Univeisity of New Vork. These las >e appiepilations, us well ea that to the Kye Infirmary, an made lor ftyo years, and until otherwise directed by law I,! These appropriations are rendered void and inopcrativt id by the new constitution-, but so far as an assurance hai y been given in the law that these payments should In >0 continued for Ave years, those who have based their ar rangeuiouts on these legislative usautunces, ought not t( d| ' he disappointed, uuless there are strong public reason | for it. ,e 1 ho sum of $16 000 opprnpi iuted to the three colleges is by the act chop. '437, el the laws ol 1878, Is clearly at ih< disposal ot the Legisla.ure. They have received all tha ~ | the law tl iM-'lo intended should be paid to them, and if i ~ 1 new direction s.touM now be given to tUia portion o I the revenue, there can he t.o ground for charging th re Legislature with a want of goodluith. If the law ot 181 t. | had been udheiedto uy subsequent legislation, the sum 'd paid to the Medical colleges, the Kye Infirmary, tin "r I Ganeeeo Wealevan Nnmniurv tlm Heh^nf ln?n #r rial, and tlie County Superintendent ot School*, amount i it>K to a total turn of >118,043 Ati, would have been a.hie Id to the capilul of the School Fund le CANAL FUNDI. The Ceuel fundi conaiat of 'he cauala themnelvca, an X the revenue^ derived fiotn thorn. If the coat of co: it atiuoting the leveral cauali he taken aa tho principalc x the fund, the capital and annual revenues of the .canal or , may be atated aa follows TolU far _ _ , . Cott. Jltealytat he , canal $7,143,78r 86 ? 3g0 , ,e. 1 hne eularirment 12,984,151 7a $ ll?,??. ?? or 1 Cham|)l?iu canal 1,257,604 26 114.109 ( I Uieeio canal 565,437 35 60,1015 i Cat una and Seneca canal.. 2J7.UOO 0J 29 39j S ? Crooked Lake eanal 1A6.77# 00 1.146 I '? I t.benim g caaal 641,600 J8 15,262 ? | ChtnaiiKo Canal 2 420.000 00 25,o78 ' ny Black Hirer canal 1,561.000 no ? Genoee Valley canal., 3.M5 000 00 24,122 1 I One III* Lake canal 50,1,00 00 602 Oneida Kiver improvement 09.276 13 ~ H $30,927,235 94 $2,764,121 h- The annual intereat on the coat of the cann ^ (30,987,5435 94) at 5X per cent, the average^patd on tf ? | .ioi.I, i ,/ Hi ,'HPI 1 The net revenue from all the State catinla, (ne i alter deductii k expenaea of collection lor 1 anil aupeiintendence, ia f>J,Ift? 49H ' lor I ? Kxceaa of revenue beyond S>, per cent. . . f4Vl,l9n j "r Thia ahowa that the cnnal ay item, taken ea a whol |?|J liaa lor the laat year, yielded a revenue beyond the e: nt> j r*"" "{ lta maintenance, nearly equal to aeven p< rao I cent *> the capital expended, r In addition to the amount expended in eouatructit W YO :w YORK, SATURDAY IN J canals, the State has issued stock aoJ loaned It to rail- I road companies to the amount of $5,338,700 ; of which there has already fallen on the Treasury, in consequence of the failure of these companies, the sum of , $3,616,700 If the latter sum be added to the capital ex- ' Knded for canals, it makes the aggregate investment in ternal improvements, $34 605 030 94. The afhount of i interest paid annually from the Treasury, on account of the leans to insolvent railroads, is $191,980 60. Debt of the State. The direct debt of the State, on the 30th September, 1840, and the amount of annual interest on the same, is given below Debts of the Severs!. Canals. Principal. Inltrtwl. At 3 per cent $11,515,897 57 $475,794 118 At 6 par cent 1,781.788 00 104.906 92 At 7 p*r 3 647 136 00 255 199 5* Total debt of cauals $16,941,815 57 938.001 32 Treasury debt 5,992,840 82 331,738 09 Aggregate $82,937,656 39 1,269,739 41 The two following tables, the first embracing the debt* of the several canals, aod the second the debts payable from the Oeneral Kund, were before the Convention for amending the Constitution, and formed the basis of the action of the committee which reported the provision for the payment of the Stato debt. The first table shows the amount required in each year to pay the current interest, and the piinoipal tailing due by the contract of the State, on account oi the canal debt. The second tablo shows the annual demands on the Oeneral Fund for th* iliirhftivA of iti ilitht na it ftalla iIiia. ~ No. I Canal Debt. Principal actu- Intern I actuYtnrt. ally payable. ally payable. 7 otal. 1810, Irom lit J una 10 JOili beptambrr,.. $071,301 00 313,Mi 13 884.419 13 1817, Sept 30... 938 001 31 938.00 1 33 1818 ' 1.081,736 00 910,168 44 3,400,004 44 18 ill ' 2,149.100 00 789 890 30 2,919.290 30 1800 " 116,' UU 00 674.718 46 1,110 7l8 46 180! " 870.00J 00 624,401 80 1,491 401 80 1802 " 612,8(1 80 613 801 80 1803 ' 612.801 80 613.801 80 1801 " 020,000 00 604,601 80 1,182,801 80 1800 " 081,801 80 081,801 80 1806 " 4,000 000 00 431 801 80 4,431,801 80 1807 " 361 SOI 80 381,801 87 1803 " 3.008,600 34 IIJ 619 2 3 3,402.22 1 07 1809 " 228,921 03 228,921 03 1860 " 913,160 00 814,770 03 1,107,870 03 1861 " 2,184 974 23 90.333 88 2.273 308 11 1861 " OO'J.IMO 1)0 18,000 00 918.003 00 18x3 " 18.000 CO 18,1100 00 1864 " 300,000 00 13,000 00 313 000 00 $ 7,016,119 07 8,433,400 92 20,919,020 49 No. II. Knr.nAw r i' ~ u K A l H i.u \ l) UEHTI, Principal actu Interest artuYtar. ally p'ablr in each year, ally p'ble each year. 1 otal. 1816, from 1st Juue to 30th Snptembe',. $11 000 00 131.159 02 142,139 02 1847, Sept 30. . 13 000 0.) 334.179 24 337,479 21 1848 " 368,107 00 314.919 06 681,026 06 1849 " 301.816 39 304,8 6 39 I860 " 304.816 39 304,816 39 1831 " 862,846 63 304.816 39 1,167.663 01 18)1 " 467,01.0 00 233,043 60 720,043 60 1833 " 223,023 60 225,02) 60 1154 " 223,0 !5 60 223.023 60 1833 " 22>,023 60 215,023 60 1856 " 647,893 3) 223,025 60 872 921 19 1857 " 191.986 .30 191,986 50 1856 ' 100,100 00 191.986 30 291 986 30 1851 " 250,000 00 1 84,736 30 434,736 50 1860 " 330.000 00 172.111 30 322,111 30 1861 " 1.300,000 00 133,476 30 1.633.476 30 1862 " 1,000,000 00 66,916 30 1,066.986 30 1863 " 14,486 50 14,484 30 1864 " 287.700 fO 7.993 25 295 693 23 1865 " 28,000 00 1,540 00 29,540 00 $5,881,549 24 3,803.458 24 9 683.007 48 The preceding statement of the canal deft, (table No. I) is the same as the one given in Convention, document No 47, page 30, with the single exception that the laidin document 47, was prepared before the last loan ot $800,000 was made, anJ the interest en that loan w:i? computed at five per cent, whereas, the lo^n w?? actual iy iiiuuo ni uu imervii ui |>ui ckih. a ni? u uuc, per cant annually on $300,600, equal to $3 iMO for o i^h year, from 1846 to 1864, making a ditf.reucc in t:ie total aum, for the whole period, of $63,567 0) If the Canal Sinking Fund, provided by the Constitution, starts with the debt as it stood at tne onuinencement ol the fiscal year, on the first of Oc.uner, 1846, it will pay the canal debt in eighteen years and a quarter, leaving a surplus of Minify-live thousand dollars on the first of Jeuuary, 186 V Out if the debt which was can celled ontho first of July, is taken into the account, and the interest on the excess beyond the sinking fund, is computed for the whole period, it will extend the time for paving the canal debt to the 30 li of September, 1865, according to the computations which have been made. In preparing the financial system which was embodied in the suspension net of 1844, it was intended to piovide a sinking fund which would nay the canal debt io 44X years, commencing in 1844 ; this would include one-hall of the year 1865. The estimates than made were based upon a debt two millions and u half of dollars lass than , tho debt actually proved to he, as will he shown in u subsequent part of this re|>ort. This great amount of un ascertained debt has been a source of embarrassment to the financial operations of the State since 1844 ; and would have extended the period for the final extinguish merit of the debt, under the act of 1841, beyond the year 1865. In providing for the paymeut of the canal debt in IS,'* years from 1846, the new Constitution accomplishes us much for the holders ol the canal stock, as could have lie en real.zed by them from an adherence to the law ol 1844 The net of 1844 made no provisiou for the payment of the principal of the Railroad and general fund debts, then amounting to $5,388,578 94, as shown in table K. doc 61, of 184 J, and which have since been increased to $5,994, 840, being an addition of $604,363. The new Constitution provides for the payment of the Railroad and general fund debts from the canal revenues. For the present, the sum set apart for the payment of these debts amounts to $3 >0,000 per annum; but after the canal debt is paid, th at is, from and after January, 1884, the sum of $1,500,000 is to be applied annually, uutil all the debts charged unou the Treasury are caucelled. The Constitution charges on the canal revenues more than 13>? millions of dollars, for the payment of the railroad and general fund debts, which were not provided for by the Taw of 184') In addition to this, the Constitution adds $160 000 to the appropriation for the support of government, after eight years; and after the paymeutof tho canal and general 1 fund debts, say in 1809, it appropriates to the general fund, from the canal fund, a perpetual annuity of $073,000 600. ' The advantages secured to the general fund by the Constitution, beyond those afforded in the law of 184), may bo tummeo up us follows :? Principal of tho above annuity of $073,6"0. .$13,461,167 74 Appropriation from canal revenues to pay railroad and general fund debts.$13,489,367 88 > Appropriation of $160 000 for support of Government from 1866 to 1809, 14 years,...$), 100,000 00 $38,130,436 63 A statement lias been prepared, end is annexed to this 1 report, mnrked Nc. 3, which shows tho time required to pay the general fund and railroad debts, by the applicu1 tion of the sinking fund Drovided lor that oldect Uv the i new constitution. The table referred to commences with tho debt as it stood on the 1ft of June, 1846, and applies the finking fund (or one-third ol a year ((116,666 66) to the payment ! of interest, which was actually paid from the means of the general fund in July last, aad towards which no part of the sinking fund of (116,Odd 66 was paid. This com 1 iweai the fiscal year, OoMd 1, 1846, with a deficit ol (25,000, instead of having the amount of the sinking fund , for one-third of u year. Tho general fund having paid i its own dobt on the 1st of July, unaided by tho sinking fund, is entitled to the benefit of (116,006 66, for onoturd of the fisc il year ending .tilth Sept. I In 1665, the payment ol the canal debt being completed , in January of that year, the annual sum of (1,500.00(1 , will be realised far the payment of the general fund f debt, which, from January to 30th September, nine months, gives (1,124,000, and will fully cancel the debt tn I860 > It is shown in tho nnnexod table, No. 2, that the State I must pay the sum of (2.1H>0.250 40, mora than would be t required if th i Sinking Kund was strong enough to pay > th? principal of the debt at the timei fixed in the contracts; this large amount being tho interest uc' cumulates on deficiencies. * The above has reletence to the debt as it stood on tho s first of June; at tho close of the fiscal yoar it was ascertained that tho debt had increased (107,000; this is to be > added, with interest on it, for 22}| years. * In addition to the provisions beioie alluded to, for the pay ment ol the Tieasury debt, the financial article in , the Constitution furniihes an ampla guaranty aguinst a e great State debt for the futuie, This, the financial t system of 1812 could not, and did not provide. The I2ch a section of the seventh Article of the new consiitution, f protects the people ugainst the imposition of all such n nuidens as constitute our piesent debt of (24 724.lido 95, H by declaring that no debt of a similar character shall s lie hnientter created, " umeae lucti debt hull he nam i9 iseJ by a lew for lome singla work or object, to be die* tinctly specified therein; and mch law shall impore and I- provido lor the collection o( a direct annual tax to pay, J and sufficient to pay, the interest of such doht as it talis due, and als? to imy and discharge the principal of such debt within eighteen years from the time of the cond trading thereof." And " that no auch law shall take i- effect until it shall, at a general election, have been sub?f raittcd to the people, and have received a majority of all * the votes cast lor or against it at such election " Another important provision which could not be leach by the act of 18-W, is contained in the Btli sec-ioii ol the r- 7th Article ol the Constitution, and is as follows. ll.( 14 credit ol the Stato shall not, in any manner, l-? giVuu o. U loaned to, or in ai l ot any individual, aaaocisiMu, wr cotI) iteration." Such a provision in the old oen^titulion IJ would havo saved the tax payei s ol this Slate. moi e than 17 seven millions and a <|nurtev of dollars, which tuey aie }*! now commelled to pjy by inipiovidenl loan, to three 6 railroad corporations. r<0 Since the preceding tables end statements teipcciinp II the debt were prepared, tne Comptroller has roceivei notice trom the treasurer of the Hudson Beikslurt ? Kaiiroad Company that the interest due on the hrst o lb January, lt47, on f1 hi,oOO ot btsto stock loaned to sau Is corporation, will net be paid by the company Income le qtienc.e ol this nonce, and iu order to protect the lioooi 18 , ol the State, and preset ve its I.nth, the (.omptroller, ai authoiised by law, lias drawn on the Treasury lor tin sum necessary to pay the inicrrsl due on said stock loi ro inn Mail year i n.iinn on ine aim ui wecemnnr, lom iui ? rtnking fund paid mto the Treaaury by thii company,am 17 which ia invented in it, li, and 7 per cent Mate MVMU e, amount* to the *iim of ^IH.'iaO, which will pay the inte k- rent tin the atock for nearly three year*, sr 'i'hii atock waa iaaued under chapter 178 oftho law* o 1840, re imhuraable in 26 yeara, and hearing iniereat a ig the rate ot a,1* per cent, payable aemi am ually. '1'1?< RK I 10RNING, JANUARY 9, principal fall* due in the year in which the canal detit is extinguished by the sinking fund. This defalcation adds $1SU,(XXJ to the principal ol the UIIOUI UIVIVI un ?UU wu ui luwmil, WHICH the State will be required to pay beyond the linking fund of the eompany, matting a total of $183,000. The law of 1840 authorisas the Comptroller, in caie of the non-payment ef intereit, to advertise the road for six mouth*, and to fell it at auction, or to buy it in (or the me and benefit of the State The company failed to pay the annual amount of its sinking fund in January, 1846, and on application to the Legislature a dispensation was I granted for this default, by providing that the Comptroler should not sell the road for non-payment of the sinking fund. Since the passage o( that act, a new Constitution has been adopted, the 7tb article of which provides as follows: " Section 4. The claim* of the State against any incorporated company to pay the interest and redeem the principal of the stock of the State loaned or a dvanced to such company, shall be fairly enforced, and not released or compromised; and the moneys arising from such claims shall be set apart and applied as part of the sinking fund provided in the second section of this article ? But the time limited for the fulfilment of any condition of any release or compromise heretofore made or provided for, may be extended by law." In constructing the preceding tables, No* 1 and 2, it is assumed that the principal of the debt will be paid as it falls due. The sinking funds provided by the Constitution, however, are not sutHcieut to do this, ami hence there will be a large accumulation of the aggregate sum required to pay the whole debt, being interest on the deficiences of means to pay the principal as it falls due.? The interest on deficiencies in nnvitisr the canal ilehl amount* to tho sum of -$'2,397,893 50 do do General fund debt '2.000,'250 40 Total cost of deferring the debt (5,-298,143 90 In paying the treasury and cnnal debts by the application of the sinking funds, thore will be drawn from the revenues of the canals during the next 22>? years, the following sums. Principal. Interest. Total. Kor payment of canal debts... (16 914,115 57 (10,518.181 29 (27,467,999 86 Do t es'y debt.. 5,885,549 24 6 703,708 64 12,589,257 88 (22 820,364 81 (17,721,892 93 (10,0)2,257 74 The above sum of forty millions of doliurs does not include the contingent loans to railroads ((1,713 000.) nor the increase of the general fund debt of (107,000, with interest on this sum fer 23>* years. The preceding statement show* that during the next '2-2}? years, the State must pay on account of interest for monev borrowed, the sum of (17-221.892 93 There has been paid lor interest on the canal debt from 1817, to Bepteinber 30th, 1848, 'JO years 13,833,388 !>0 Add payments of interest on railroad stocks, from 1843 to Sept. 30th, 1818 930,770 81 And it makes a total paid and te be paid far interost, of $.11,938,330 44 The systom of borrowing money for the prosecution of public works is the most expensive mode which could ne devisod. Besides the consuming power of interest, the ease with which millions are acquired by one generation to be paid by another, loads to carelessness and extravaganoo in expenditures. Our experience is full of instruction on this point. In 1838, a new impulse was given to internal improvements, and a plan of borrowing tour millions a year was commenced, and in less thau two years, canai contracts were made to the amount of twelve indlions of dollars. The work was pressed on with tucu extravagant haste, that the commissioners ot , the can t! fnun, in their anuual report, inform the Legislature that " from the tilth of February 1839, to the 1st of January, 1841, a period of less than two years, there tuts bean expended on the Erie enlargement, and on the iJeneseo Valley and Black River canals, more than nine millions of dollars, a sum greater, it is believed, than wns ever expended, during peace, by any government no works of internal improvement."?Ass Doc. No. 8, of ltll.p 33 Must ol the work dono at that neriod, coat the State one cjuartar, if not one-third more than would havo been required, if the work had been prosecuted with the moderution and economy which prevailed in constructing the Kne and Champlain canala. In viiw ol the extravagance which haa prevailed under the borrowing system, and the thirty-two millions ol intereit paid and to be paid from 1817 to 1869, a period of 62 yean, there is great reason for thanklulneis, thai the important provision* which secure the application of the canal revenues to tho discharge ol the existisg debt, and provide ample indemnity against the borrowing system for the future, havo been safely and securely anchored in tho fundamental law of tne commonwealth. Kvery well wisher to the purity and permanency of our free institutions, will cling to the financial amendments in the Constitution, as a safeguard against profligate expenditures. mid a sure protection against sooial bank mptcy, and the infamy of repudiation Tho restrictions in the Constitution against borrowing can work no detriment to the substantial interests of the State. If the Legislature is not permitted to make loans without the consent of thoss who have them to pay, the representative is still vetted with tho power of taxation, over the property of the constituent. If the interests of the State require an expenditure of the monoy beyond its revenues, the Legislature can draw by taxation upon six hundred millions of real and personal estate. It ii not apprehended that any necessity will arise for increasing taxas , but It money should be required, the tux-payers have much less to apprehend from this mode of raising money for State purposes, than from the bur rowing system which has prevailed for the last twontj years The amount of debt payable in 1847, is only $13,000 00 The two Sinking Kunds, therefore, fur this year, wil yield a surplus available for the next, year, of $374,421 O besides the tax of one tenth of a mill, amountiog u $48,217 0-2. In the years 1848 and 1849, ns will be seen by referring to the preceding tables Nos. 1 und 2, the total amoun required, lortbose two years, to pay interest and piinci pal tailing due, is $0,422,136 74. The means for paying this large amount are as fbl One third of $350,000 00 for 1840, duo General Fund (110,000 0< Surplus ol Sinking Fund* for 1047 374 5-41 0 'anal debt 9inking Fund for 1818 and 1840.. -4,00 J,(kit) 0< Sinking Fund for 'i'reaiury debt for 1848 and 1840 700 000 01 Tax of 1-10 of a mill ior 1840 '47, '48 end 1819 83-4,000 O (4 0-43,187 IN This leaves a deficit ior the two years, unprovidod lor ol $4 398,949 74 The tenth section of article seven of the new Constf tutiun authorizes tho Legislature to borrow ouo million of dollars "to meet casual defi.-its, or failures in revenues or for expenses uot provided for " As the money derivec from the new loan must he applied to the iciinhursetncnl of the stock filling due ill July 1818 and 1849, the ng gregate debt of the State will uot bo Increased by thil operation. Out after borrowing the million of dollars authorized by the constitution, tlieie is still a deficit of (1,39-1,94!) 74. About ("00,000 of this stock is held by tho Comp troller in trust lor the common school and iiteraturi fund, and for tho redemption of the circulating notes oi banks. The 9th section of tho act of 1844, for pa> mg tin defft of tho State contemplated the purchase of (1 7o0,0tM of this stock with the moneys of the U. Status depoxiti fund, and (500,000 with those of the common school fund Unt the barren condition of tho general fund rendered 1 iodispenstiblo to tiso lor the support of the g iverntnen and for the maintenance of the |>ledgox of the State, eve ry dollar of the capital of the hinds ailuded to whicl came into tho treasury. The total sum rcseived into tin treasury and thus used, belonging to those funds, i (880.957. If this sum was invested in the stocks of 184i and 1819, it would give the Ktuto tho control ol tho hu lance ol the debt and take it out of the market. The pro vision in the constitution for the relief of tho (Jencrn Fund will enable that fun 1, with proper economy, ti meet the demands on it, end the sums hereafter paid inti the treasury on riccouutof capital ef the Common Helton nntl If S Ueposite Funds, may be investod in tho stock ol IBB and 1849. It the reaonrcoa leferredto are notdceineJ sufficient t protect the iiouor and good laith of the Htata, by the fif tilinent of its obligations, the 5th section of the 7tli orticl ' ot the constitution, arms the legislature with ample pow 1 er te provide the necessary means, i Thil section reads a* fallow* " 9 ?. II the Sinking fundi, or either of them, pro ! vide I in thin article, shall prove imulllcient to enabl the Stuto on the credit of inch fond, to procure the mear ; to itttufy tho claim* of the creditor* ot the State, a* the j become payable, tho Legislature shall, bv equitnbl : tuxes, *o increase tho revenue* til the *aid fund* ua t i nuke them respectively, inlllcieiit perlectly to presers tho public laith. Kvory contribution or advance to th canal.', or their debt Irum any source, other than thci direct revenue*, ahull, wild quarterly interest, at th rate* then cuneul, be repaid into the i'reaaury, tor tl u<e ul the S(a>e, out of the canal revenue*, a* soon a* cm tie done contiitcntly with the juit light* of the ere dor* holding the nuid canal debt." InldiOand 1351, the Lanal Sinking fund i* equal I the amount ot principal and interevt tailing due in Ihoi yean And the demand* on account ot the Uenen H iirid for tho e y ear* consist of tho Indian annuitie* ai the iU.ii due to the Specific Fund*, which can ba dele ted, as no atock baa been laiued on account of tho dent* In the atatement prepared for the < onventio 1 (Hoc 47, pnge 41,) it wa* assumed that the debt* to up ciQc funda would be paid in Ave year*, being in 1 HA 1 Condition and progrtii of Ike Stale Lirbt. Tho following statement show* the character, oom tion and progress ol the State debt for the last ten yem | The first column ahows the nmount ot State stork isstu and loaned to railroad and canal corporation*. The *e j ond column the sum borrowed for the ordinary ttippo > of tho government, including tha stock issued to Jol 1 Jacob Astor; Tho third column shows the amount ' ' unredeemed stock issued on account of the sever , 1 canal*. And the four h, the total of the whole del] . The debts are given n* they appear in the annual tepot oa the 3llth of ^September in each year:? , Contingent Gin fund .7Kgrrua J | Ytar. drbl drht. Canal debt. Stole aei IXJ7..,.... 110.01,0 978,0.0 8,166,084 7 964 I 1648 1 497 700 1,118 644 9,308.120 11.963 1 r 18.9 1,847,700 IO.:?6,8lO 14,0(6,1 I 1 1840 4,816,700 1 414,961 14.l46.bl7 18.186: , ) till 4 436.7..0 1 418 878 16,300,371 81,8001 '1814 1,740.000 6,.669,806 10,174,398 26 861, ' 1048 1,780.000 6,423.416 20.394.381 87,416 ' 5 1811 1,780,000 6 031,6(17 20,713 906 2* 068,' , 1 ?M? 1,713,000 6,9<I2,810 17,MS 140 34,7311 !"*? preceding (tnteinant would aoem to the* that t contingent debt reached it* highont point on the .tilth f iteptemher, 1M4I: Tbie, however, la not to. Between t t tit)tii ol Heptemher ol that year, und the 7th of Keh., 18) o atock waa iaaued and loaned to the New York and Ki I IE R A 1847. Railroad to the amount of $900,000, and to tha Schenectady and Troy Railroad $100 000, being a total of one million, and makiug aggregate amount of the contingaut debt, on tha Tth of February, 114*4, $6,436,700, an ahown in Assembly Doc. No. 04 of that year, pages 14 and 16. The last hundred thousand dollars of stock was issued to the Erie Railroad Company on the *J9th of January, 1844, and on the loth of March following the Presideut of the Company infoimed Governor Seward that the company had made no provision lor tha payment of the April intereat on uny of the State stock issued to said company, then amounting to three millions of dollars; this letter was communicated to the Legislature by Governor Saward, and may be seen in Assembly Doc. 113 of 1844. By this failures of th? Erie Railroad Company, and tho previous failure of the Ithaca and O wego and tha Catskill and Canajoharie companies, the sum of $3 615,700, was transferred from the column o( contingent liabilities to a direct debt chargeable on the treasury. This explanation accounU for the great changes in tho general fund oud contingent debts from 1841 to 1444 i The canal doht, in the preceding statement, appears to ! i have reached its highest point at the closs of the Q?cal year 1844, when it stood at $40,713,906 The canal debt , on the 7th Feb., 184*2, was given at $13 860,011 74, winch | | embraced $000 000, to pay arrearage* to contractors. I I Subsequent payments show that the sum then estimated | for arrearages was greatly underrated. Instead of I $000,00 >. there ins actually beau pai I from tho 7th Feb , | 184*4, to the 13th of June, 1840, the following sums | r or arrearages ro contractors, engineers, See $4,849,487 M Kor land damages 473,540 74 $3.173 008 00 This exceeds tho amount ostimated for arrearages in stating the debt in table K, Assembly Doc til, of 1844, by the suin of $'4,373,008 09. Tho public works wero suspended about the 1st of April, 1814, and, with the exception of the amount paid for the salaries of such engineer* as were retained to close up the estimates on contracts, the whole of this large sum has been paid for arrearages to contractors for work done before the 1st of April, 1844, and for lands taken forth# canal* previous to that dato. The whole debt, therefore, for canals, railroads, and the general fund, at the time the suspension act passed. instead of being (US,764,690 64, as was tlion supposed, actually umouuted at that timo, as since nscertaiuod, to (48 MfiN 73 ; and this, without including the sum which has been paid to contractors for breaches of their contracts growing out of the suspension act If to this be added the sum awarded to contractors lor breaches of their contracts by the State, at shown in Convention Doc No. 69, (446,434 19. it makes an aggregate ol (48,713,034 94. Deduct from this the present debt, as given in Doc. No. 1, annexed, ('44,734 080, and it shows a reduction of the aggregato debt lince 1844 of (3,978,9tt W The general fund and contingent debt united new iimount to (7,706,810 84 In February, 1844, these debts were equal to (7,108,678 94 ; showing, an increase since that time, of (597,461 90. From this it appears that the cinal debt has been ^reduced, since 1844, (4,576,414 84, Neatly four millions aud a quarter of this sum has been paid since the first of January, 184.>, via : ? Krie and Chamnlain canal storks of 1845.. .(1,336,950 77 Chenango canal, payable 1st January, 1646. 4,337.510 66 Oswego canal, payable 1st July, 1846 440,194 89 Cayuga ami Seneca canal, 1st July, 1846, . . 150.000 (Mi Total amount in two years (4,44:1,931 34 This is more thin double the amount of debt cancelled in any previous period of two years siuce the canal fund was established in 1817. The greatest amount of debt previously paid, was iu the years 1833 and 1834, when (4.066,374 of the Erie and Champlain canal stock was reimbursed in those two years. In the twenty seven ypars preceding His, the amount ol' canal debt paid was ^6,358,000 ; being only two millions ona hnndred and fitteen thousand dollars moro than has been paid within the last two years ki 1836, and again in 18.13, Legislative pledges were given that the surplus canal revenues eh - tit be appleto the pa - ment of the debts contracted - const ru.tion of the lateral canals before named, wh< became due. An elfort to divert to other is, u portion of the revenues thus pledged, was uted by ho Executivo veto, and the honor and faith ol State wore preserved. It Is highly grutifying that ive been enabled to redeem the promises thus m.t and to preserve the credit of the State untarnished, and d is a source of still stronger gretiticat on that the struggle of the last four years, has been closed by (ngrafting upon the constitution ol the State, a provision, which will effectually secure, in all timo to come, " the honest payment of our debt*, and sacred preservation of the public faith." The Annual Revenue? and Sinking Fundi. The total amount received on account of the revenues of the State canals, including (33.301 8'J received foirailroad tolls ; (10,713 frOm rents ol surplus waters, and (13,364 37 for interest on depos ts, is. . ... (J,did,til I 13 Expenses of collection, superintendence, and for ordinury repairs 838 333 01 Revenue over cost of ropeirs, on all tho canals (3,203,881 13 D.-duct, Canal Sinking Fund... .(1.30U.OOO Treasury debt Sinking Fund. . . 360,000 Annual sum appropriated tor tho support of government 300.000 1,850,000 00 Surplus (333,881 13 i '1 ho Constitution requires the Sinking Funds to be set i apart from the first day of Juue, 1840, and to be applied to the payment of the debt as they existed a', that time. ' From the first of Juno to the 30th ot September, is one tnir.i 01 a year. One third of $1.300,IH>0 it $133,333 33 I One third of 360,000 in 116 060 01 In relation to the sum required to be act apart lor th< ) Canal Sinking Fund, from tne lit of June to the clone o! the li-c.ul year, it in to bu conaidored that during tlW f third of a year, there wax paid out of the canal rovenuei t for tho extinguishment of the principal of the canal debt $671,304 01 One-third of the interest on the canal debt for the fiscal year, ($076,66-4 48,) is 345,617 41 raid towards principal an.l interest of debt ?. from 1st June to 30th Sept., 1840 $896,8-11 4! , Deduct frem this one third of the Canal Sinking Fund for a year 433,333 3' " Exeen of payments over Sinking Fund .... $403,488 1; The amount of debt before referred to having actually been pud, and the stock originally issued for th< " principal of $171,304 having been taken up and cancelled ihoro is no power, as things now stand, to ro create tha cancelled debt; nor is it in anv respect desirable that vi tality should be given to it. Tho Sinking Fund for th< same third of a year, $433.3:13 33, should be considered as applied to tho payment of tho canal debt. All the fact* inspecting tho payment of the debt froir the current revenues, ami the condition of the unavailable fuuA* wore belore tho Con volition in report* from tho Comptroller, No 47 and 10'i. The lint of the?o report*, after giving the the item* and amount* of the tin available fuod?, nay*:-" With the amount of available mean* in bank on the l?t June, ($304 Ha4,) ami the lolli of May, and about halt the toll* ol June, tho Commissions of the Canal Fund have paid the ordinary ex pense* of the canal*, and have placed about $H00,000 it the Manhattan Company, for the payment of principa and iutereat of the canal debt, due on drat of July, 1616 ' Convention Doc 47, page 7. It was anticip tod nt the close of the fitcal year in IHl.'j that the fund* for redeeming the Chenango canal stock falling due in January, 1846, ($4 364 000.) would be in suflicient, unless the nppropt lation of $400,000 for th< support of the government w is withheld Iqftu th< Treasury and applied to the |>ayment of the Chnnang canal debt, according to a pledge contained in tho 7tl section, chap 34, of the Caws of 1 H;l3. This was accoul ingly done, as explained in the report ol the Commia toners of the Canal Fund for 1846, pages 13 and 14After the payment of the debt due in January, and alte the accumulation of rovenue sufficient to pay the deli of $471 000due in July last, tho $400,000 previousl; withheld, was paid into the Treasury lor the use of th (leneral Fund, and the appropriation of $400 000 f? 1840. was also paid, making a total of $400 000 in th (Isral ?<ur pnilinir 6eiitember 30th lMli. ? in gutting at tnu surplus canal revenues in tho pre ending statement only tho yearly appropriation of $300, e (KM) ia deducted in paid to tfie gener al Kund This ii he lieved to Ire the proper mode to ascertain the fair ampin lor tho year, and yet when we look at the caah on Ihanr instead of a Hiirplui of f3'rl H6I Id, ai g veu in the pri ceding statement, it ia lound to be $dU>),000 leu, from th 0 came before stated. '* Tho surplus applicable to pttb'ic wor'.ta, being for tha ? portion of the fiscal your Irorn Jum 1 to September, 30 le is one-third ol *3VJ,Hiil,ll, or f.117,6>0 17. ? The Oaneral Kuud is entitled to receive from ( an. ' Kun I. one-third of thorvnarlr allowance el $3. 0 000 at '* Sinking Klind, being flld 660 Oti There was no mono "" belonging to the Canal Kund applicalrle to this paymrr " on the 30'h ?f Soptembe., and this aurn, try the aeeori auction of article 7 of the Constitution, ia to draw interoi i|uarterly at tho rntos current at the cloae of tho yeai ari l to be paid fiom the canal revontiei, oa aoon aa it ca . be done consistently with the just rights of the holder of the canal stock. Tho heat arrangement for a '? interests, lato tranafer to the Ueneral Kund, $116,060 f of the It,ink Kund atoek now held by tho Canal Kund,an which heara intereat at the rate of tl percent. This wi r be a fair investment for tho sinking Kund, and tho eoi " tributiona from the hanks will pay the principal in tin to Meet tho first payments on tlin storks issued to rai e' roads, which have fallen on the Treasury. It ia to t observed that no portion of the $3'>0.000 has been drnw .. from the ' anal Kund to nay print i >ad or in ereat of th , General Fund debt. If this had been done as in tho cm of the canal debt, then the payment might be oft's j against $116 606 66. irj Jtnaita'ilr and UnaaailabU Canal Fundi. in ! At the cloae of the fiscal yoar, the Canal Kund hud c n( hand in Hank Kund stocks and claims nguin<t uisolvei ?i hank*, Ike., the turn of $007.47.1 I it. ( ash in bucks 330,880 I U $838,383 t It Ol the available means there was in the ManU liatlan Bank to pay Con il debts. $8.1,444 48 114 Unexpended of 'he lonn of $100 000 for the payment of contrjctors and for land damage*. ...... ..Hi,070 84 ,2 $3?1.49? U7 Deduct available cash on hand 30th Kept. . .. '430,880 fiO II* To tie made up from other sources $34 808 " ' I HI' "nn?? ,,v .. xurplue Ht tlie cloee al the fiecel veer, to |iht Old 117 0 h* 17 epplicehle to th* public worki : Nor wa? there *i m?li to pay the fl Itl.tSrtrt 66 to th* Treenury Sinhii "e Hi ml The only reme ljr, therefore. in to fell heck IJ' \ the unevailehle reeotirce* of<)7,473 OA, belonging ' ; tho t.euel h ituil, dinuuiehed u It muet bo by the >3 I I'j.u LD. ? film Tw? emu, A/WI IQ iuxihIm,) ?a mal/A lir\ iKa a?im <lila ?a aah(ma(am Take then the balanca of the unavailable fund. $673,807 48 Deduct first, the amount duo Sinking Fund *110,680 00 Second, one-third of the annual surplus of *363,861 13 *117,630 17 334.380 83 And it leavaa a balance belonging to the Canal Fund, and at the disposal oi the Legisla lure of $338,680 00 Add to thie one-third of the annual aurplui... 117,030 17 And it makes a total of *460,300 83 In tho last annual report from this office, page 86, it was luggested that the sum of $300,000 of the bank fund stock belonging to the eanal fund, should he transferred to the general fund, In lieu of *300 000 in oash withheld from the geueral fund, by the act chapter 340, of the laws of 1843. It was also recommended at page 41, ot the same report, that the sum of *170 306, paid For bounties on coal, salt, &.C.. from the general fund, should be repaid from the canal revenues, which had derived all the advantages of theibounties]th?? paid. Both of these items make a total ot 8470.306. These claims are sup nosed to be cancelled by the new Constitution; which has made ample provision for the payment of the entire debt of tho general fund, including the railroad loans, has provided (or the coutinuance of the annusl appro priutionol $i00,008, for the support of the government U>r eight years, auit then to ha increase J to $340,000; and : after the payment of the debts of the State of every description from the canal revenues, it charges upon those revenues for the benefit of the general fund, perpetual annuity of $673 .too Much of the prosperity of the trie and Champlain canals. at thoir commencement, is attributable to the aid received from the rich revenues yielded up to them by the general fund. The canal tund was not only benefitted by the direct cash receipts from auction and salt duties, but every dollar thus advanced, saved to the fund, in twenty years, at least another dollar in interest, which must have been paid if these revenues had not been thus appropriated. It was shown in a report from this oflloe, to the convention, Doc. 47, that tho sums advanced from the general fund to the canal fund, from 1817 to 1838, with intsrest at A per cent, compounded annually te the first of June, 184d, would amount to the sum of $13,441,107 74. Kive per cent on this sum gives the annuity of $673,A00, which the Constitution declares shall be paid te the geueral fund, annually, from the canal revenues. In 1834, the Comptroller recommended to the consideration of the Legislature, the importance and the Justice of settling the account between the canal and general lumis, and tne committee 01 waya and meant reported in favor of it. The conatitutional proviaion it quite as favorable to the general fund at the prepoaition made la 1834. The liberal proviaion made by thia aettlemeat for the payment of the debt and the support of the govern ment thereafter,' bv u direct appropriation from the oanal tolls, must be highly satisfactory to those aectiona of the State not immediately benefited by the expenditures ea the canals. The amount paid for legislative printing is given at $38,29u 11. Ordered by Senate $13,287 Oi?Assembly, $41,624 27?Convention, $3,378 79. The cost of the Senate printing is $642 72 leas than the preceding year, while the expense of printing for the Assembly ia $13,463 25 more than in the previous session. The printing of u single document ordered by the Assembly cost $21 888 09. Thia document ia the census of the State, taken in 1843, a ponderous! volume,which is spread out and mado to occupy aa much apace as ought to he covered by the census of the United States. Tne binding of 2830 copies of thia document coat $6,416. Thia makes the total cost of printing and binding the census, $27,303 09. The annual report of the American Institute, an J the annual communication from the Recording Secretary of the Agricultural Society, are printed aa legislative documents, at an aggregate cost to the Treasury last year , Ol *6,412 32. fuyments from the Treasury to enforce the execution oi the laws are us follows Columbia county ,$33,412 26 Delaware county 76,402 36 $100,004 ?2 Besides the Bbove sum paid by the State there has been ., allowed to the sherilfs of five counties, and charged to | those counties, the lum of $18,880 S3. Under a law passed in 1843^ there hat been paid from ! the Treasury, aa a bounty on salt, coal, gypsum, lie., the total sum ot $413,414 18. The net proceeds of the tax of six-tanths of a mill, are given at $340,303 13. The report coutains the usual statements respecting the banks, an abstract of which will be given hereafter. Varieties. The hoirs of the late Governor Tompkins, ex-governor of the Stateof New York, and ex-Vice President of the United States, have petitioned Congress for the payment of several large sums of money, which their ancestor in his life time claimed to be due to him, from the United States for services rendered, and for money loaned by him to the government, amounting to $34,190 The Sheriff of Columbia county on Wednesday, while attempting to serve process, was resisted by a body of men, about seventy in number, driven back, and compelled to abandon his purpose. Theto was a severe gale at Buffalo on Tuesday, trout the southwest. Some damage was doue to the shipping It is said that the hog crop of the United States, this year, is three times the worth of the cotton crop. Tha standing army of swine consumes annually two hundred millions bushels of corn. | We learn from the Rochester American of yesterday > morning, that the Genesee was uncommonly high for > this season of the year. The roud between Rochester aad Scottsville was covered to the depth of two or three t' feet. A monument is to be erected et Montreal to the memo. 1 ry of Governor Metcalf. He was formerly Governor of ' Jamaica, and also in the bast Indies. On his leaving ) both places, monumeuts were erected. The Buffalo banks and brokers refuse to take Spanish 4 quarters for only the amount received by the govern -i Slavery has been prohibited in Oregon by a leg is la tire act of the settler*. I QThere is now living in Plainfield, New Jersey, a family of ten persons, viz One great grand-father, one > great grand mother, two grand-lathers, and grand-mo there, three fatheis and mothers, two fathers-in-law and e mothers-in-law, fivo grand-children, one grand-child, , one great uncle, ono great nephew, one son-in-law, one t daughter-in-law, throe brothers, two sisters, five bro thers-in-law, three uncles, four nephews, and on* niece i making in all forty-tour distinct relations. I We learn from the last Nashville IKAt'c, that a little daughter of Col. Balie I'eyton, about six yoars old, was i killed instantly by a kick received upon her head from a Mexican pony, on the 'JMh alt , at the Colonel' farm, in Sumner county, Tennessee. Mr. Joseph Small, a coach maker, and worthy oiUaen of Vork, Pennsylvania, was found dead in bed on Tuesday inoruiog. lie retired to bed in good health. 1 A negro belonging to II. T. Croft, Oainaville, Sumter county,, Ala., being at work on the ferry road at that place, becainn unruly. The overseer tried to tie him, ) 1 and the nvgro resisting, both in the sen file fell into the | river. The negro was drowned, aud the overseer with ditfi -u'.ty saved. C^The export* fiom Michigan daring the last year, amount to >4,047,#08 i- Disgraceful disturbances continue to occur in Massac and the a (joining counties in Illinois, between the " Ree gulators" and the citi/.ons. A woman was killed in one o of their affrays, whilst fighting like a tigress to rescue h her husband from thn Iti-gula'ors. I- The Northampton Industrial Association has been dis perty an.l pay * the debt*. The company hai dwiudled r down to a small Theae cominunitiei are v?ry t attractive in theory, tint fatally repulsive in practice. 1 We learn that the I'uitnnster < iouoral, Cave Johnson, e refuse! to (.auction the action of the hoard of director! iu r impending the Hon lay morniug mail line tiatarean New 0 Vork unJ Philadelphia, an.I that it will ha continued. Hubert M Hill, of the village of U Ktrop, pariah of Ou aehita, La , wai killed on the ttli ult., in an affray with four men, named Livingston, Vinaon, ( armichael and Theobalds. 1 1 The ship Alabama, Wire, mailer, cleared at Charles8! ton on Saturday last for Liverpool, with a cargo of AO 0 balei Sea Island, 3781 bale* Upland cotton, and 451 tiercel rice, valuod at $111,61'3. it Mr. Hart, of Kontucky, the artiit employed by tha la, iliei of Virginia, to execute a itatue ef Mr. Clay, in marble, 11h rmnploted the model bust, and la about to inil bark lor Italy to complotothe wotk " Vhe Jllhany Jlilat of Thursday evening lays that the ' river i? open, with the exception ol places below and 'l above Hnleon Yesterday it probably cioiad, however, it llirii) TaavKLki.*"!.?The oxpren car with (be (ioi r vernor'i menage, which left Albany at 14 A M , reached n llocheiter at ten P M , running 3A0 mile# in ten hours. 'I I'ollttcal Intelligence. 11 KnvTccxr.?The Legislature ol thii SUta aisemblad on Thursday la?t (fen Leilie Coomba waa elected id Speaker The Uuitrillr Journal, extra, brtnga us Gov. 11 (twiley'i menage, occupy ing only a little over two coil lumni ol tiiat paper It nan admirable document if* ? ?? 1 ? ill - ? eala/sf?<) in e> htt/s II nf ike Punsi All in# wing oiiii in- ?i "> iu. . >>Ui sylviima legislature, were elected on the 7th Inst., et Harrishurgh. g It seems settled that Oen. Irwin in to be the whiff canie didate for Oovemor, in Peansylvania. The expretiiou et i? very strong in hie favor. I Affairi of Hayti.?We have news from Portan Prince to the 20th nit. President Kiclie enterin en 0 a capital en the evening of the 9th On the nest ' . <lejr he was saluted by the guns of the town. The new conetitution he* been publicly promulgated, and every0 where received with the unanimous acclamations of the ~ inhab tents The islend had been visited with several 17 severe shocks of an earthquake, but without any f;reat damage done. The French sloop of war Hueeard eft Port au-Prince on the 3d inat. for Caves The frigate Thetis had left for (ionaives.?Franco .ImmftHt Firm ok Boaro thk Steamkr Psnobscot.?-This sq favorite stcumnr, which was litnl up at Kast Hos19 ton, for the winter, took fire a little before ft oVilook, ? yesterday morning, and was very badly injured before IB the fire was extinguished. The interior of the boat, aa li also the upper nan end decks, ara much injured, but the it) boiler and machinery are hut little hurt The damage iiv ii entiniated at about >14,000. bain* nearly onewiwei iik ' h?r va)?e Half the fenobicot to owned by apt. Hand on ford, ol New Vork, buiI half by ('apt Klmkall and R. K. to Page, f,i?j , of Haliowoll, and waa not iniured ? B?il?n Jldwrrtiitr, Jan. 8.

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