The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-07-01
For the Spirit of The Age.
Reform, No, 12,-The School Fund.


mont Watchman and other wing papers which
take their pitch from Gen. Walton, have been bu-
sy in endeavoring TO procure the appropriation Of
the School Fund for the payment of the debt with
which wing folly and extravaganza has involved
The State The Auditor in his report for several
years past, has treated this fund as part of the
revenue OF the State, and the Uatchman has from
time to time asserted, that it was The property of
the State, and has constantly endeavored 10 force
upon the people the belief that it was an unappro-
prated portion Of the funds of the treasury which
needed only to be shifted from one pocket to the
other, in order to satisfy all demands against the
State.
1t is apPrehended that the origin, growth and
condition of this fund is not generally understood
by the people, and therefore it may be proper to
take a cursOry view of its history. 1t is insisted
that the neuclus around which the School Fund
has accumulated was the fruit of individual liber-
atty. In addition to this The Legislature in 1925,
appropriated for the school fund the avas of the
old State Bank, which was Incorporated in 1906,
the amount that should arise from the six per cent,
on the nett profits Of the other banks, and the
amount paid for peddlar's licences.
The terms Of the law are as follows; "That
the amount of the avails accrued TO this State from
the late W. State Bank, be and the same is hereby
Sequestered and granted 10 the respective towaS
in this State, for the benefit of common schools
aud TO no other uSe." 1t is also provided by said
act, that said fund, shall not be diminished, i'm
proved, OF appropriated to the schools" mn
til the interest OF the same shall be sufficient "to
delray the current expenses of keeping good free
common school in each district in the respective
towns, for the period of two months, in each aud
every year" BY the revised Statutes, of 1889, it
is provided that this fund " shall not be drmi,ish-
ed, expended appropriated to the use Of schools
or TO any other purpose, until the same shall a.
mount to sum, which shall yield an annual inter-
est or income sufficient 10 deiray the current en-
penses." SC.
Now Gen, Walton as the mouth piece of the
Wing leaders in this State, proposes to apply this
fund to the payment of the State debt, in direct Vi
| oaton of The law, sequcsteriag and granting the
same to the several towns for the benefit especially
of the poor and INDECENT children of the State
This proposition Is in perfect keeping, with the
spirit aud principles of the arisocracy, as promu-
gated by their great leaders, Let government
take care Of the rich, aud the rich will take care of
the poor
The object is to take this fund which il cmphut-
ically the property of the children and the poor Of
the State, and apply it to cover the extravaganza
of the party who for years have controlled the State
and who, by their rocklcssness and folly have
drained the treasury and loaded the State with
debtor in other words to rob those who have
had no agency in creating the debt, 10 fill the poc-
cts Of those who are disposed TO speculate upon the
public reasury,in fact to pay this same Gen, Wal
ton some $4,000, year, TO enable him to disrib-
ute laIsehood and deception among the freemen.-
To persuade the people to consent 10 the dssipa
ton of the school fund.- prominent reasons are ur-
ged, all Of which are false and deceptive, to wit:
LIST, that by the terms Of the law, the amount will
not be sufficient TO distribute for about half GEN.
fury: I'd, tina, it cannot be appropriated to the use
of schools until it amounts to the sum proposed by
the law: 3d. that the application Of this fund TO the
State debt will diminish the taxation of the people.
The above statements are all intended 10 deceive
and few lines will show their utter f,llacy.
In October last the school fund amounted TO
Sl6l ,292,2S, and the average annual income be-
SIDES the interest for several years past has exceed
ell $1,000, which together with the annual interest
added 10 the principal, will in 10 years from Oclo-
Der next amount TO the sum of $G37 .S7S,s2, the
interest Of which will be 3s,272,72 per an
mum. The whole number of school districts in the
State is 2,lo2. The law provides that the amount
of interest, shall be sufficient TO delray the expen-
ses Of school iIro months without defining whelh-
er ii shall be in summer or winter, consequently
when the amount is suliiclen, to support summer
school two months annually in each district in the
State, the conditions Of the law are complied with,
and the income may be appropriated 1t is ascer-
tanned from correct data that the average sum paid
TO teachers Of summer schools in the several dis
trcts is less than one doiiar per week and that
the average price for boarding such teachers in the
several districts does not exceed 81 90 per week,
which fixes the expense of school for two months
at SIG, for each district upon general average,
and to divide this sum to the above number of dis
tricts would require an income of $3s, 1882, which
ovcrruns the amount which would accumulate in
Is years, by $l59,2s, But extend the time and
let the fund accumulate Is years and two days,
and we have S3s, 47S,5s more than is necessary
for the above division. The school fund then will
by the present conditions Of the law be applicable
TO the schools in Is years and two days from the
LIST day of October next, Instead of half a century