No. 70.

IN SENATE, APRIL 14, 1851.

REPORT

Of the minority of the committee on canals, on the Assembly bill to complete the enlargement of the canals of the State.

The undersigned, one of the committee on canals, to whom has been referred the engrossed bill from the Assembly to provide for the completion of the Erie canal enlargement and the Genesee Valley and Black River canals, not being able to concur in the conclusion to which the majority of the committee have arrived, asks leave for himself to

REPORT:

That he regards the matters embraced in this bill, and the objects sought to be accomplished by its various provisions, as of greater importance, and more deeply affecting the interests of the people of this State, than any other subject that will be brought before the Senate for its action during the present session.

The bill seems to contemplate that the time has now arrived when the true interests of the State demand that the wise, prudent and safe system, supposed to have been established by the adoption by the people in 1846 of the present Constitution, for the completion of the Erie canal enlargement, and the Genesee Valley and Black River canals, should be repudiated and aban[Senate, No. 70.] [u.n.10t.]

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doned, and the policy of the more speedy enlargement and of rapid and extravagant expenditure again to be entered on.

The undersigned will not attempt to examine or discuss the question whether the provisions of the bill are in conflict with the plain letter, as well as the spirit of the Constitution.

Assuming, but not conceding, that the Legislature has the constitutional power to borrow nine millions of dollars on a pledge of the remainder of the revenues of the canals, in each fiscal year, for the purpose of completing, more rapidly than can be done by the annual application of such remainder of the revenues, the enlargement and the Genesee Valley and Black River canals, the question properly arises, will the best interests of of the State be permanently promoted by borrowing that amount of money in the manner proposed, and expending the same in the completion of the canals within the next three years?

The bill in question provides that the Comptroller shall sell, at not less than par, canal revenue certificates to the amount of three millions of dollars in one year after the passage of the act, three millions more in two years after the passage of the act, and such further amount within three years from the passage of the act, not exceeding three millions, as may be certified by the Canal Board to be necessary for the final completion of the enlargement and the two lateral canals.

These certificates may be issued in shares of $50 or over, payable to the purchaser or his assigns, and may be delivered to the contractors with their assent, in payment of work done; or in other words, the Canal Board may make contracts for the work payable in these certificates.

One objection, in the mind of the undersigned, to the adoption by the State, of this policy, arises out of the difficulty of doing the work advantageously within so short a period of time, and maintaining and preserving the navigation of the Erie canal during the period the work is being done. The navigation must at all hazards and cost be maintained, or the revenues will be diminished, and the business of transportation seek other and unobstructed channels.