612 



NEW YORK. 



receipts with those of the preceding year, which 

 were $4,346,266, shows a diminution of $763,- 

 800. Comptroller Eobinson in his report of 

 December 30, 1865, says : 



The receipts and expenditures upon the canals, 

 should attract the attention of taxpayers. Whilst 

 the receipts are rapidly diminishing, the expenses are 

 Btill more rapidly increasing. In 1863 the receipts 

 were $5,118,501.35, and the payments for collection 

 and ordinary repairs, $770,882.52. In 1865 the re- 

 ceipts were $3,577,465.45, and the payments for col- 

 lection and ordinary repairs, $1,927,373.59. In 1863 

 the surplus to meet the requirements of the Con- 

 stitution was $4,347,618.83, leaving a "remainder" 

 of $981,376.17. In 1865 the amount was but $1,650,- 

 091.86, leaving a deficiency of $1,716,150.80, to be 

 provided for oy taxation. In 1863 the percentage 

 which the cost of maintenance of the canals bore to 

 the amount of tolls was but $15.33; in 1865 it rose to 

 the enormous rate of $54.73, being far greater than it 

 ever was before, in any year since the canals went 

 into full operation. And' this statement does not in- 

 clude the heavy payments for "extraordinary re- 

 pairs," which would make it much higher. The pay- 

 ments of $350,000 to the General Fund Debt Sinking 

 Fund, and $200,000 for the support of Government, 

 cannot of course be made. 



These facts and figures are instructive, and are 

 worthy of the attention of those who think that a 

 State can manage the business of transportation bet- 

 ter than private individuals, and who are proposing 

 to build new canals, and to commence another en- 

 largement of some of the old ones. 



The stock and debts of the railroads in the 

 State on September 30, 1865, were as follows : 



During the same year ending September 30th, 

 the earnings of the railroads operated by steam 

 were $48,642,966, and the payments, other than 

 for construction, including $155,000 carried to 

 the surplus fund, $48,742,428 ; the earnings of 

 the roads operated by horse-power were $5,- 

 948,657, and the payments, including $226,283 

 to the surplus fund, $5,853,440. 



On the 9th of March the Legislature passed 

 an act called the " enabling act," the object of 

 which was to afford to the banks of the State a 

 means of transferring their organization and 

 business to the national system without the 

 tedious process of a formal dissolution, with 

 the attendant inconvenience of a dispersion of 

 their capital and surplus earnings. Between 

 that time and the end of the fiscal year one 

 hundred and seventy-three banks closed busi- 

 ness as State institutions, and were converted 

 into national banks. Besides these, twenty 

 banks had received authority and were doing 

 business under the national system prior to the 

 passage of the act, ten of them having effected 

 the change prior to the 1st of October, 1864. 

 Thus one hundred and eighty-three banks were 

 during the fiscal year transferred with all their 

 wealth and influence to the national guardian- 



ship. The magnitude of the change may be 

 seen from the following statement of the Super- 

 intendent of the Bank Department : 



The capital invested in banking, under our State 



laws, on the 24th day of September, 1864, was, $107 ,306.9 iS 

 On the 30th day of September, 1865 20,436,970 



Decrease during the fiscal year $36,869,978 



The greatest decrease In any previous year 



during the last ten years 1,951,199 



The circulation returned and destroyed during 

 the year ending September, 1865, was $16,728,- 

 179, which. exceeds by about $2,000,000 the 

 amount returned during the panic year of 1857, 

 and by about $9,000,000 the average yearly 

 amount for the last ten years. 



The circulation issued and outstanding on the 



30th September, 1864, was $40,118,635 00 



The circulation issued and outstanding on the 



80th September, 1865, was 27,009,449 00 



Decrease during the fiscal year $13,109,186 00 



Securities, including cash, held under general 

 laws, to redeem circulation, September 80, 

 1S64 $37,303,524 05 



Securities held, under general laws, to redeem 



circulation, September 80, 1S65 25,469,157 44 



Decrease during the fiscal year $11,884,866 61 



The decrease of the different classes of se- 

 curities has been as follows : 



Of United States stocks $8,528,600 Of 



"New York State stocks 2,225,70600 



" Illinois State stocks 288.400 0< 



" Bonds and mortgages 936,876 00 



$11,924,582 00 

 Increase of cash deposits to redeem circulation, 90,215 8? 



Total decrease as stated above $11,834,366 71 



Notwithstanding the large withdrawal of 

 labor to maintain the military strength of the 

 nation, the State has continued to make steady 

 progress in agriculture and manufactures iin - 

 provements in the implements of husbandry 

 and the discoveries of science having contrib- 

 uted largely to increase the productiveness of 

 industry, and thus compensated in a measure 

 for the scarcity of laborers and artisans. 



The school system of the State continued to 

 increase in efficiency and importance. The fol- 

 lowing is a brief summary from the returns of 

 the commissioners for the year ending Septem- 

 ber 30, 1865, showing the condition of the 

 common schools : 



Number of school districts 11,760 



Teachers for twenty-eight weeks or more 15,478 



Children in the State between the ages of five and 



twenty-one 1,89?,759 



Male teachers employed 4,452 



Female teachers employed 2'J.OIT 



Children attending school 916.617 



Average daily attendance of children S!>5,G1 7 



Volumes in school district libraries 1,278,123 



Number of school houses 11,618 



The receipts and expenditures on account of 

 common schools were : 



Receipts. 



Amount on hand October 1, 1864 $474,447 83 



Apportionment of public moneys 1,379,262 



Proceeds of school lands, etc. 18,881 11 



Kaisedby tax 8,501,070 20 



Raised by rate bill 6M.1 68 78 



From all other sources 228,471 



Total... . . . . $6.252,242 64 



