The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1843-08-02
STATE SCHOOL FUND.
No. s.

Should the fund ever accumulate 10 the
sum Of 100000 the sum assumed TO be
necessary, before, by the provisions of the
act, the interest can be distributed. the State
would stand in the position Of creditor TO
the people to that amount, and the people
in The position of debtors TO the State TO the
same extent. The commissioners of the
fund would hold the mortgages or other Sc
curiies against the debtors TO the fund
The people would be mortgagors TO the
Stale TO that amount of $4,000, 900, aud the
interest Of this sum, or S240,000 would, If
possible, be collected of the mortgagors, in
the form Of interests or rents. AT the rate
Of compensation allowed collectors Of the
State tax, the hare collecting Of these rents
would cost the people the sum of Sl6,600
annually, and this for the privilege Of hav.
ing their money pass through the hands Of
the commissioners Of the school fund, again
10 be returned 10 the several school districts,
whence the money was collected, there 10
be expo nded in support OF common schools,
as is now done in every school district IN
the State. Besides the expense of colec-
ting this money, much OF the sum collected,
will be sponged up by The commiss oners.
and sub commissioners, BY lawyers and
other expenses Of liuigstion, and in short
by every one, through whose hands this
money is to pass. The fund must result.
so long as it lasts, 10 a system Of debt and
credit. of the most objectionable kind one
in which the people will be the debtor and
the government the creditor.
No people can remain long free, while
ground down TO the dust in debt I; but peo-
pie in debt 10 the powers that be, are in a
peculiar sense in bondage. Such people
are in truth and fact subjected to the BIZ and
the bride. They are in position TO be
curbed, checked, and refined wheresoever
their rider pleases. They may have the
power of locomotion, but no choice is left
them between sudden destruction, and kee.
ping the track indicated by the engineer
Poverty delivered up the Egyptians, bound
hand and foot, 10 be the slaves Of Pharaoh
No iyrani could desire surer method to
cuslave people, than TO place them in the
condition of debtors to the government.
That this is the precise CONDITION into
which The school fund, if consumaied, will
place all those whose misfortune II may be
10 owe that fund, canno; be denied. The
expenses of the government. from the dec
iaration, that Vermont was a free and inde-
pendent State in TIT, have been met by
direct taxation, or if not wholly so, this re-
scource has been the grea, reliance Of the
government. Ii has always been true, that
any expense incurred beyond the necessary
expense of government was to be met by a
direct tax. ln such a state Of things it is
utterly amazing. that the project of accumu.
laiing fund agreeably 10 The provisions Of
the act of 1925 should have been entertained
by the Legislature. The whole process of
accommodating this fund is receivable into
very simple operation. Ii is to every prac-
ticable intent and purpose. nothing more nor
less than taking money from the pockets Of
poor tax paying community TO accumu-
late it 10 the hand Of the commissioner Of
the school fund, in the vain hope, that some- |
thing will be gained in principle or interest 1
or both, ultimately 10 be applied 10 purPo- /
SEES of education. But who can fail 10 see,
that every dollar thus accumulated has cost
a dollarl also that every cent Of interest |
gained 10 the fund has cost the contributor |
precisely that amount, besides subjecting /
him to all the losses, expenses and risks to |
which the fund is exposedl The money
accumulated in this fund is in a false posi-.
ton. The process is like transplanting a
vegetable from its natural soil and climate
to position unnatural and unsuiied 10 its
condition. Can the money, when collected
in masses, subject 10 the con'tol ofthe COM
missioners, be as safe from speculation. from
robbery, and from being suddenly dissipa.
ted by being invested in bad stock. or fiom
other accidents, as it would be in the hands
of those whose labor first accumulated 1t J.
Would not the money accumulate as fast.
If divided among the freemen of Vermont,
as il would 10 the hands of the commission
erl And would il no, be less subject 10 ac-
cidentl No one can doubt IT.
But such a fund as we have contemplated
would have a disastrous effect on any free
government. The condition, opinions and
sentiments Of the people must always give