Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1845-10-23


b, appropriated " The use Of schools. until
The amount ,hood ,ncteasc n \ -um whose
annual m'ctc,t ,hou, b adequate 90 doiray
the cip,1s's VI hc-pings good free com
mon school 10 osch distuct N the STATE Io'
the refi5i oftNo monihs
I,c Slsic 1'r,asur,f was consiiiu'
comm ..I,u.. nr Poe man,semen, q. ,he
fond who 'hcreuP,n proceeded 10 invest
the simc, BY loans ior the putpo,e con
ttmrllloi IN the act
lly an at pisscd m the year 1888. fur
lh,f loans from the fund we're ptoh,bdcd
anl ,hc Treasurer va. drt,c,,i 10 deposit
,ir '1rnc IN The lfrnsuty rs II should b., "
cet,tl aud 20 keep nm account rhcteoi and
annual, chatgc lhr State vah 'hr interest
on I've money thus dcpos.',I which, 1t
was declared SHAH be- considered as Dor.
foWA tom a.. funl #" aud the Treasurer
was authorized aud directed 10 psy out
sa'i money on any appropnauons author.
Nd by law
tulef the operation OF tins net. nnl prin.
cip1Iiy m touD,cuon Wilh thd expenditure
o. y 900 iot the erection the State
H,u,c thu State, from time 20 lime. has BE-.
come indebted to his fund until The lndcht
cjo . now amount lnciud.us the accu.
mutations Il ulcf,.l, TO the sum OF s22i,
500 50. while there IS due 10 1t from Indl.
yilunls, the sum Of SlO .59O94 max ing
an aggregate Of 1924 9OOAi
Tho cNpelicncy Of continuing this fund
has long bcco questioned Upon full con.
sheraton, deem j, nv duty 10 bring the
subject 10 your notice and to submit the
question whether any present or prospec
two interest Of tho people requires that It be
continued
Tho FIRST question to be considered IS
when will the fund become available for
the use Of schools ,ha, is, when will the
annually acctuIng interest be adequate to
dcfray the expenses Of keeping good free
common school in each district in the State,
(Jr the period Of two months"
The number Of school districts in the 24O
lowns IN the State taking the returns OF
last wear from lj9 towns, which gave 500
districts as the basis Of calculation, may be
estimated at $3.50 II II be assumed for the
purpose OF calculation, that, by the time the
fund sill become available. the number OF
the districts will have increased ten per
cent. on the prosen, number which may be
regarded as no, IN improbable increase
within thir,y-ihrce years we shall have
5000 district. TO De provided, from the nvails
/ Of the fund with good school, two months
IN each year. Estimating the expense OF
keeping such school two mouths, in the
then advanced stage OF educational improve
mcni, ut $40, there would be required the
san of $4,000, rs the scctuIng interest
Of the fund, to render It available whic
is the interest, at SIX per cent on 81 .O00,'
600
The question now arlsCs-wilhln what
time will the fund probably accumulate 10
- 00OOOOl t. pros'nt amount s-3I
900 ii--,he annual interest on which, al
six per cent i. SIf,9Oi02 The aycrngs
annual income from the SIX per cent 0
bank profits for the last SIX wears. has been
- GOO - and from ppdiars licenses ~ ,
l4G,j2, amounting to SASl63S; whrct
may be assumed as the annual addition tC
the iind, hereafter, from these Sources 49,
The awaits Of the Vermont State Bank hav,
= nearly ceased to Md ANYTHING 10 tie fund
aud should not be made the bu.is OF any
cnlculllon for ,hc iIlutc
We have, then. the elements OF the cal
. culaton, namely the present amount Of III,
fund the interest thereon for one year al,
e., the probable annual income from the blnl
tax md podlars licenses The process o
accumulation 10y annually compoundnI
, the interest according to the act consliiul
, iug the fund VIII produce $1,000. 3s7 I,
b on the FIRST Of nuary, 1878 so that n
, Children who Shall b 10 lif, IN TINT ycar
, will reap the first fruits Of the fund II
= shall be 50 long continued This assume
e however the doubtful position tina, six pc
= cent. Interest may he realized throughol
e the entire intervening period Of huiy-fic
\ yrars anil IRE, month"; and makes no al
o loVaucc Tor loses, and the expense Of mar
y. aging Tie fund
j Tho great question is now presented
n Whist IN reference 10 ihi, fond. IS our dur
3 70 he generation Of ls7s7 Admitting,
course. that II - our day to labor Tor IT.
g bench, Of that generation, The question IS
II will that generation be really benefited b
a continuance OF the fund II we eouI
; send Il forward to them. realty invested
q 'bPItpF'u ud"h e'o'hs. of pnff pFo1RCUl
securities" according to tho law OF 1872
% hey might pefh1p' be benefited thong
Is The eIpclIcncy OF ACCOMPLISHING scho
h funds, 50 large, Us to have tho effect OF r
!, ,s.nc personal sGoris, Bogus To be que
q toned Bul So lar a. We scnl ltem a iun
{. CONSISTING ola de6 due from the Stat. v
, senI them fund ,nurcly upprodu tive
lie fund which, when II reAc hrs them will co
SIS, merely m thur tnl,hcincss 10 thcr
II selves II We wouh make II Otherwise. v
a. must liv the people Of rhI' generation o .
c. amount suth lent TO cI'nguish the ini,t
' cdoes the State n the hnd and havir
thus drawn the amount from the pockets
N tho people ayes 4 m productive s4eui
u ties and IN that condition send Il forwar
j % he generation Of is7s Bm q, no spr