Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1844-03-01

fcemcn independent controlling commissioners
that nmuch the government supported by direct tax
the whole of raising this fund nothing less than raising
hundred dollars at certain expense of per that three dol
lars may be placed the hands of commissioner to be loaned out
On w the School ' Fnng aS FIN G' wo I o s' n
private estate the community that the money sa less
liable pecuaon to be dped by bad investments by deauters
or other accidents frequently occurring while in possession of the tax
payers than in the hands of the commissioner while the same time
would have disastrous effect upon the government influencing
elections and acts of the Legislature that after the fund should be col
yearly educate the children of the rch whose wealth saved them the
which The rich are COMPELLED to aid in educeng The pooat The fund
if accumulated cannot be sustained pepcy by any pecuna
and the United adverse accumulation property large
but that all tends diffusion and prevent perpeuty that the
people WIN M themselves TO any extent "'h Tue reason OF ue TAX co
mcnds itself to their Judgment but in the payment of rent and interest,"
eypedient to- raise nonev for the sake Of d{trnr # back a@on to the
community whence collected policy Of raising
cy to be kept on loan for half century, before is distributed in reserve
more cxpent nasuch as ali the funds at the control of the people
,nr{ c , yi b , i, o. p IeI i I i h id
probably have dis srons effect the of education tselat
too and viii in all nr5abiy be deJ before il will arrive at it's
proposed destination that the best the education of
o IS to educate the present that for these reasons
and which could be urged the eSency of commencing
timing the +; lnd, has been seriously doubted
their character domonstaby truth others could
be adduced less liable such objections be admitted
tax which seven per cent
This money managed by commissioner expense
subject loss and risk in ways always
interest Were the money hand, could
probably be loaned for hundred and the capital interest
sed the contemplated the three per
| this
In Europe capital frequently investment loans less
of interest At all such fund would yield
by wide difference Should three sufficient
the amount and assuring against accidents
losses risks &c this will be presented Money raised loss
Of seven cent and loaned At three Weten
have TINS popoon 81 ::!: 81 by which perceive that the short
period of yone years will exhaust the capital invested loss
is hence apparent that The very involves
in its destruction Thrust necessarily result in loss Every dollar
invested in the fund.- the principle Of the above calculation will
ued in loss Of interest tyon But the
plated by the statute of 1925 which life this scheme
millions and the question involved in the right disposition of it.
/ responding magnitude
policy of the measure another aspect subject
itself the understanding avoided
garded The shows that the debt due the fund from
$35l and that the actual available exclusive of the debt due
from the State is less than $20Sl Should this available AMOUNT with
the annual interest," and yearly increment Of S6jS (Which the
tered to accumulate the fund.- be applied eXngu the of the
State debt due the fund.- the entire fund would be merged in the debt
the State within The fund would henceoward
debt State the
The of the State would be
fund should which should
interest or income sufficient dey the of keeping
school district the
Rod of two MONTHS the Legislature would be called levy direct
tax the people, the interest due the fund.- the when
collected would be forwarded the commissioner
the of collecting and perhaps other e the money would be
entered after reduced
mones fees the balance would be back people, where it
belongs to be by them applied for the support schools This brings
the result and operation of the fund.- unless arrested the Leg
stature