Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-10-14
From the Appnna',N Huleiin
CLAIMS OF THE COLLEGES AND ACAD.

IA1 Aei pdssci February en-.

SECTION >. BE 1t further enacted That when
ever 'ne annual income Of the Literary Fund shall
exceed sixty thousand dollars, the sIrprus oLnya
Ihat sum- un'il It shall amount to twenty thousand
dollars, shall be appropriated, and the same is
merely appropriated, to the endowment nj surL
colleges, Academies, or intermediate Schools with
In tins Commonwealth, as the General AsserLIy
"endowmen- '0' sue"
The above section is part Of an Ac, "eonccrn-
ing he University of Virginia" passed the 2I,b oc
February, 1891, and is the 18th chapter of the Sun
p'tment 10 the Revised COde-lhe &C, itself forms
the 3oih chapter Of the same Supplement Rv m oc,
passed IN the year 1919, an appropriation ~ fftsc,
uhousAhu Go.laTs per annum was made for tho O.
adjustment of the University of Yirglnia nnd n,
Appropriation oiioriy five thousand dollars ner an.
mum was made to the Primary Schools for the cG,,.
cation OF the INDECENT children Of this Comm3n-
wealth. Ga the 2Ith of February ls2D on n,',',
cation OF the Visitors Of the Ulyersitv n IoIn or
sixty thousand dollars was made TO that Inst,tutinr
rom 'I'e Literary Fund, by an act OF the Legsla-
re'-NSec chapter 30, Supplement To Revised
Code) An act oanIng n like amount To the s,n,c
Institution, passed on the 2Iih OF February ISlI-
(See chapter 3Oth of the SupplemcntN l. w,s Ian,
'le ''i section OF TINS last mentioned act that pro
VISION was pledged 10 the Colleges and Academic,
mus completing, so far pledges could do il
system providing for the education OF all classes Of
the people OF the State. On the 5,h dav of F.br,I.
urFi 80 iurtEer sum OF sixty thousand dollars
was loaned 90 the University OF Va bv AN oc 49,
| ed on that day-(See chapter 81 of The S,nnIo
mcnt) In ALL the loans amounted TO the sue, os
SiSOOOO-and the annual appropriation oG SIT
700 was, by the acts authorizing the loans, bound
| Tor the payment OF the interest on this sun, orJ
| ultimate redemption of the principaL thm. e.
| curing the Literary Fund, and steering clear
/ oil The pledge TO the Colleges md Ac,Gc.
mes. On the representations of the Rector ana
Visitors of the University, an act We r,ssJ
on the 9th January, 1874 relieving ,bor Ins,r,
| OF the payment OF both principal and interest of
the loans made TO 1t from the Literary Fund Tbi,
interest, amounting, the date Of the Inst act 20
inc sum oi SlO,sOO per annum, formed a part Of
the surplus income OF the Literary Fund-and tbs
act which relieved the University Of VIrgini, iron,
the payment was equivalent to an act approprin,ing
10 the University that amount, which had boen g.
! Iemnly pledged ard appropriated to the COLLEGES
1921. ""'y'
This history Of our legislation is hroucb, before
the public to aid 10 forming proper estimate Of ito
cams OF the Colleges and Academies, md mot IN
PfeJNdice the University. The writer Of this fully
appreciates That Institution, and would rather gdJ
To It's funds, than DO nught 10 iniure IL Tho Cofo
ges and Academies remained without any provisior
from the public funds, when twas found thai tbc,c
was surplus income to the Literary Fund r0u,I
or exceeding $4,000 per annum, the sum which ,b
act OF February oath, ls2l, Appropriated IN tho
Colleges and Academies. on February Dc IS2s -
resolution was passed by both Houses OF the / .,
gsaiurc, preparatory 10 the luiflmcnt of the pIc,c
made to the Colleges and Academies in 1901 81
which the following is a copy, as published IN ill.,
acts Of 1875: " '"0
whereas, the General Assembly, on tho 9th
day OF February, 1921, enacted that, whenever tho
annual income Of the Literary Fund should oxcccd
sixty thousand dollars the surplus above that sum
until such surplus should amount 10 twenty tbnu'
sand dollars, should be appropriated TO the endo,r
ment OF such Colleges Academies md in,crn,edi
nte schools within this Commonwealth n4 rho c.
neral Assembly might thereafter designate ne +,
Institutions for such endowment; and ,ybecees !,
appears, from the Report oltho Second Audi,o, ,b,,
there will accrue, during the Current fiscal vesr q
surplus OF more than twenty thousand IoII,r
above the charges on the Literary Fund and tbai
the said surplus will probably continue 10 inrrcso
every year, 10 render it expedIcnt To dcvisc
some general system for lis APPROXIMATION and de
trDuton, in fuIh.ment Of the original designs Of f.
Assembly, which cannot now be done. for ,ynn, nj
cer1in requisite information IN relation 10 all these
Institutions
"Bs uihsJefoye resolpsdJy the General .gssey,5Iy
That the President and Dfcc.ors Of the I.itor,Ty
| Fund be requested 10 report to the next General
Assembly the condition and wants Of the Uniycrsi-
l ~, Colleges and Academies IN this Sinto which
l have been endowed by the present or former Gov.
eminent or by private munGccnco, and tho state Of
their funds, and amount Of their annual revenues
with an account Of their sources Of derivation and
the mode Of their investments also, n detailed state
mgnt Of the condition oi each 1T those Seminnrtoa If,
respect 10 rs accommo latons for tcncIers and ,,
pills; the number OF It's professors or teachers with
tho amount Of their respective saliries the mum her
| oil students and branches Of science and learning
taught in IL fees Of tuition, and the rules of its co.
yernmsnt; and further, which Of these Scmin,rioq
| have been Incorporated by law. And i'm order To
enable the Aforesaid Pfesldcntand Directors 10 make
the statement and report herein required, tLev
are hereby authorized and empowered 70 c,il upon
the Directory Of the several Colleges the Trustees
Of the several Academies, so fr as thoy can bc as.
ceNancd, and the Boards Of School Commissioner
Of the several counties and corporate towns of the
State, 10 furnish such detailed statements ns they
muy deem necessary, 10 enable them to accomplish
the objects Of this resolutions"
Under this rosolu,ion, tho President and Direct
Ors Of the Literary Fund made all the enquiries ne
cccsary 90 obtain ffOm tho several COLLEGES and
Academies the information wanted % cnab Q the lie
gisIIturo 20 carry out us original plan Of endowment
Of such schools nro ndspensiby necessary 90 the
wei. being Of the groa, mass Of society in this Com
, monwCulth. The information, embodied IN a you.
minous and valuable document, was presented, with
report, TO the Legislature, and may be found ON
the journals Of tho Honsc, ofthe Session 1856
On this iniormotiun, bill was framed making th,
distribution Of tho sum Of $4,000, which had beer
b appropriated. This bill, however, was ntyer pas.
sed into law, and was superseded, by an on
g preparation Of the fund 10 another object A de-
! sign 10 violate any known pledge, or 10 mock III,
tax pnyIng citizens Of this Commonwealth rrnro'
1 with justice, be imputed to the Representatives O
the whole People, IN tho opinion Of the writer O
this article, yet, he believes, that there could no
have been IN tho mind Of the Legislature fIl
knowledge ofthe former legislation on the subject
when this nisappcauon NJ pledged funds was made
As we'll might an act have passed, taking from III
University and Primary Schools the nnnuities an
proprated to them; these are held by no sirongo
Sec Session Acts Is35-i3G pnoe =