The voice of freedom. [volume] (Montpelier, Vt.) 1839-1848, 1845-10-23
Ing an aggregate of $234,900 A.

" SS SUN VI VSSTtoOS TH
The expedlency Of continuing this funt
has long been questioned. Upon full con
sldera'ion, | deem it my duty 10 bring tn,
subject to your notice, and to submit III,
question. whether any present or prospect
i've Interest of the people requires that i
bs continued.
The first question to be considered is
when will the fund become available foI
The use of schools that is, when will III.
annually accruIug interest be adequate
to defray the expenses of keeping a good
free conmon school, in each district in
the Stale, for the period of Two months"
The number OF school districts in the
24O towns ia the State-takine The return.
of last year from l59 towns, which gave
lSO9 districts, as the basis of ejaculation
may be estimated at 1870. If it be as
sumed. tor the purpose OF the calculation,
that, by the time the fund will become
available, the number of the districts will
have increased ten per cent. on The pres.
ent number-which may be regarded as
not an improbable increase within thirty
three years-we shall have 5000 districts
10 be provided, from the avails Of the fund
with a good school, two months in each
year. Estimating the expense of keeping
such school Two months. in the lhea ad.
vanced stage OF educational Improvement,
Nj $40, there would be required the sum
of $4,000, as the a:cruiog interest oil
the fund. TO render it available which is
the interest. at six per cent. on $4,000,
600.
The question now arises within what
time will the fund probably accumulate 10
S2.O0O,0002 It's present amount is 1884.
900 44-lhe annual Interts 81 on which. al
six per cent, is $4,000 OF. The av>
ersge annual income from the six per cent.
of bank profits, for the last six years, has
been 1860 &c; and from pedlar's tIceus-
es $l,l46 So amounting 10 G4,6l6 80
which may be assumed as the annual ad-
dition 10 The fund. hereafter, from these
sources. The avails of the Vermont
State Bank have nearly ceased 10 add
anything 10 the fund, aud should not be
made the basis Of any calculation Tor the
future.
We have, then, the elements Of the cal
culation, namely, the present amount o.
the fund, the interest thereon for one year,
aud the probable annual income from The
bank tax and pedlar's licenses. The pro
cess Of accumulation by annually COM
pounding the interest, according 10 the act
constituting the fund. will produce $4,000,
387 10 on the first Of January, 1878 so
lhatth children who shall be in life in
thai year, will reap the 6rst fruita of the
fund, if ii shall be so long continued. This
assumes however, the doubtful position,
that six per cent. Interest NAV be realised
throughout the entire intervening period
OF thirty-two gears and three months, and
makes no allowance for losses, aud the
expense of managing the fund.
The great question is now presented
what, in reference to this fund, is our du,
" to he generation Of 1873! Admitting,
Of course, that it is our duty 10 labor for
the benefit OF that generation, the question
is-will that generation. be really benefit
ted by a continuance of the fund.- II we
could send it forward 10 them. really in
vested in "approved bank stocks, or other
productive securities" according to the
law of 1925, they might, perhaps, be ben
Gifted {: though the expectancy OF accun'u
IalIng school funds, SO large, as 10 have
the effect OF relaxing personal efforts, be-
gins 10 be questioned. But so far as we
send them IA fond, consisting Of a debt due
from the Safe, we send them a fund en-.
lireiy unproduclive--a fund which, when
it reaches them. will consist merely in their
Indebtedness 10 themselves. If we would
make it otherwise, we must tax the peO%
pie Of this generation 20 an amount sufh-
cieul TO exlinguIsh the indebtedness of The
Stale 10 the fluid and having thus drawn
the amount from the pockets of the people.
invest it in "productive securi'les," aud,
in hat condition, send it forward 10 the
generation OF 1873. But who i. prepared
to do this? Who will vote for such a tax2
None, it may be confidently affirmed
Nor, it may be affirmed with equal con
fdence, will our successors be willing to
do it,, five. ten, twenty, or thirty years
hence, when the Indebtedness OF the State
shall. by the compromising OF interest, ha We
become greatly increased. Of what ben.
eff, then, will the fund be TO them, unless
it can, by some fiscal magic, be made
spontaneously TO yield the interest, and
pour it into the treasures Of the towns for
the use of schooIs2
The whole operation, so far as it pro-
poses to benefit the generation Of 1878, is
a delusiou. 1t is the people borrowing Of
themselves, and adding the annual inter-
est TO the debt against themselves, and
sending this accumulated Indebtedness for.
ward TO become the Indebtedness Of a gen>
Grafton lhirty-three years hence, for the
purpose Of benef.ting that generation.--
The truth is, that instead Of sending them
a benefit we shall send them u burden,