Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1845-03-01

ted as a matter Of blame, il its snticipations,
which were shared by the community generally,
were not realized In this capacity the fund has
no legal right to call on the General Assembly
for protection; but in matter OF character so
high, and one in which the State is so deeply in.
lerested, the General Assembly ought not, in my
opinion, to shelter itself behind the plea Of ordi.
nary care against the urgent appeals that the
cause OF education makes to its sense OF Justice.
1t should rather look upon itself as a depository
to whom a valuable charge has been entrusted,
and which should be preserved as sale and as IN.
decayed as when it was received.
If this proposition be correct, then the Legis.
lature has an opportunity now, better than any
other that will pr esent ITSELF perhaps forever, Of
doing signal service 10 this fund, Of raising its
character and increasing its usefulness. A grant
has been made TO the State Of 100000 acres Of
land by the General Government for the purpose
Of internal Improvements. Perhaps Congress
would, on proper representation, be induced 10
change the nature Of this grant, and bestow this
prncely domain on the common schools Of our
State. | am induced to believe that no difficulty
will occur on this point, from the interest gener.
ally manifested by the General Government ia
The extension and encouragement Of popular ed.
ucation, through the grants Of each sixteenth Sec
ton, the Seminary lands, etc., for this purpose.
It, hOhCNGis OOISItSS SlUulu Ielu5G " dCCetu 10
this proposition, then | most respectfully urge
upon this General Assembly the proplety Of per.
hitting the school fund to become the borrower
Of the proceeds Of these lands and trust 10 be
excused, if | here submit some reasons that in
duce me to believe that the loan will be probably
employed thus, both 10 the fund and 10 the State.
1t is now matter Of grave argument, whether
or not this General Assembly should appropriate
the funds arising from the sales OF these lands,
to the purposes Of internal Improvement their
original destination under the act OF Congress;
and even among the warmest friends Of this
State policy, it is sometimes doubted whether
the State should embark in such schemes until
the means necessary TO carry out the proposed
measures should be provided. 1t will be per-
hapS many years before the revenue arising from
these lands will Justify the commencement Of
any work OF improvement, especially If the work
contemplated be OF any great magnitude. The
sad experience OF some Of The States Of our
Union should warn US OF the danger or rashly
undertaking works Of internal improvement, be.
fore the means necessary for their completion
be ascertaiEed and made fully accessible. And
1t may happen with US, as it has happened else.
where, that the system may be curse, when the
State finds itself loaded with debts, encountered
with useless public works, and although ani.
mated with desire, but not enjoying the credit
necessary TO carry out its magnificent projects so
nauspiciously commenced. The funds arising
from this quarter, too, entirely insufficient 10
Justify the State in any work Of internal improve.
ment Of any great magn.ud At the rurthest,
it is thought they cannot exceed 1925 900. and
this calculation is based upon the suppcsition
that all the lands will be sold, a contingency
that will not happen probably for twenty years
The proceeds will then be PAID into The Treas.
ury, al irregular intervals. and if the works are
commenced now, The expectation may be well
entertained. that such receipts will be very little
more than sufficient TO meet the losses susta ned
by lapse OF time and the frequent cessations OF
labor, consequent on tie uncertain sales OF the
lands.
If, on the other hand it is contemplated 10
distribute the fund among the Counties in certain
proportions, ght not the same result be effected
by change in the nature Of this fund! Could
not these proceeds be converted into perma.
nent stock, that would yield an annual amount
for distribution TO the counties? If, instead Of
thus dividing this money, as is done with the
Road and Canal Fund it be created into CAPT.
tai stock yielding certain amount annually for
, distribution in the shape OF money for public
education, the benefit would still accrue 10 the
several counties, but with this striking difference.
;, that whereas, 10y the one mode, perhaps, the
!; temporary bridge, or leveling neighborhood
, road-by the other, fund is created which will
Il extend its benefits to cur citizens forever; that
will lay the foundation Of an intelligence ia
l. every section OF this State increasing its wealth
II and lis influence, by developing the genius and
resources Of IFS people, and before many years
q will enable US 10 have the proud satisfaction OF
: seeing every child 10 the Sla!e educated at the
;, public expense. Ii the General Assembly should
! be Of opinion, that this money car, and ought to
d be borrowed By the School Fond, then lie
specially urge that it Re done es soon n:
'e practicable and as fast as the proceeds Of the
.anis are paid into the treasury. The Iisk o
,, this investment may be rendered exceedingly
Il small by the purchase OF our own State securi.
c ties Many OF our bonds will be redeemabls
e in 1916, and many more could, no doubt, b.
FL readily purct used. The money thus borrowed
/, could be placed TO the credit Ct the Internal
ID improvement Fund, and If the Legislature thnk
it proper, an annual interes. could be paid Il
s this Fund for its loan, less, however, than the
School Fund could realize from it, Suppose
lie for instance, that the eight per cent. bonds O
>e the State be purchased, the School Fund woul,
ce be bourd to pay the Internal Improvement FunC
lie from the profit OF these bonds the amount OF fou
~ per centum per annum. By this mode Of invest
a. ment, each fund would be benefited and in al
a probability by postponing for time all matter
re OF internal improvement the general Interests o
OIL the State would be promoted.
~ NORMAL SCHOOL.