The Yazoo City Whig., 1846-01-16

AtNFkAef EeGQ6NkNSAl0 tElAe Ill ktA& &ttHA AAA4 i
forlellures, billiard retail, and other licen-
Gee. and al the other funds that nov go into
The Treasury other ihan iha Legitimate taxes
On property, be Felinquished % fund Is -
established and called Tie sSchool Fund
That lhe literary fund Be collected fiom the
several counties, and placed IN the school
Fund" and further recommend that tax
Of Eve per cent. on the amont of the State
and county taxes be assessed and collected
annually fDFthe beneft d the School Fund.
/ estimate that from these sources, (noi in
cluding The literary fund now on handy we
will derive $4,000 annually. This fund
should be placed under The control Of the
general commissioned, 10 be used in aiding
the establishment Of free schools. TIE fund
to be apportioned among the counties, each
according 10 lis white population, taking the
census Of Is45 as The present basis or ap.
portionment. Itshoold he the duty Of the
School Commissioner TO establish schools.
And whenever the funds Of the township
was insufficient 10 employ teacher, por
ton Of bis wages should be paid out Of the
general fund; and the whole should be so
divided that there should Be 4 free school
in every inhabited township, 1T least 4 part
Of the year. If the fund would employ a
teacher but for three months, let the school
be taught for that length Of time.
PLANTERS BANK BONDS.
have not permitted myself 10 doubt that
the State would At the earliest period, con-
sistent with her engagements to other credi-
tors, commence the payment of these bonds.
They have been thrown upon Us unexpect~
edly, and hence we have not been prepared
to meet them. The large dividends declar-
ee by the Printers Bank for many years and
the supposed solvency of the Rail Road
Company, during its brief but unfortunate
career, lulled the public mind into security.
The sudden explosion Of both these institu-
tiOns startled the people with the unlocked
for intelligence, that fund Of two millions
of dollars had, in great measure, been lost,
and that heavy debt had, in consequence,
been thrown on fhe Treasury for payment.
They have not shrunk from their legitimate
responsibility, and they nerer ariH. speak
confidently, because in l643 | maintained
the States liability to pay this debt, and the
people sustained me. In my inaugural
ePN1@AAas AN4ANA0t1A Asll1ttOtbS9 hBu tBC3
have eVersince heen undisguisedly proclaim.
ed, and the people have again elected me BY
! La greatly increased majority.
But it's asserted that one generation can.
not bind another to pay public debt. The
argument. IF plausible, is not applicable tC
our condition. We are not the posterity oi
the men who lived thirteen years ago. bn
, il We were, should maintain, that IL We
| transmit 20 those who come after US, ouI
lands and the fulness thereof it will be NJ
gTievous hardship, if we transmit with then
such debts as we cannot, without seFiou
: priyation TO ourselves and our families, pa
: loft and discharge. The failest way, how
ever. to answer the aTgOlnent that pOsterit
is not bound to pay oui debts, Is 10 pay theI
! ourselves, and that is just what / recon
mend.
Tne first series six per cent bonds $500,
900 dollars) were issued in 1881, payable j
: four instaIments Of Sl25,OO each. Tn
q FIRST was due July let, le4l; the second wi
be due the Ist of July Of the present yea
: the third July Ist, 1851, and the fourth Jul
: 1st, 1856. Toe second series Eve per cani
E E bonds Isl 800 ,OO0) were issued in ls3;
: and are payable in three instalments I
$500, 900 each, the first on the FIRST day
= March. 1861; the second March lit, 1885,
and the third March Ist, 1871. The int
: !. est on the FIRST series was paid TO July, l6S!
: and on the second to March 1st, 1889 sine
!" which time nothing has been paid. L vi
. be observed that an instalment Of S125,00
= has been due since July Isl, l641; and
e will be found on calculation, that there
= interest due on the six per cent. to the fit,
{, day Of the present month SI95, 600, and o
: the iive's SOL, 500, which two items bein
! added to the $l25.000 principal makes a
: aggregate of Ss32. 500 principal and intel
est, due on the first day Of this month, (Jal
! = uary, 1916
y II will be seen that the bonds draw an af
gregate interest of s. los, 900 annually,whic
le is payable semi-annually on the FIRST serie
g in July and January, and on the second !
q March and Seplember,and that the princip
y falls due at periods Of FIVE years from on
a> intalment to another. II the sum now du
{ was paid, il would require only $4,000
At annually. up to July 1st, 1856; to.meeI boi
Is principal and interest as ii falls due in fnlur
le and after that time5 $4,000 annually
3 March Isl, 1911. Il has already been sal
n there has Eeen paid unto the Treasury
!. Auditors WaFranls, on account Of sinkin
re fund, Se4, COZ: this sum, il is confdenll
rs expected, will be increased 10 Sl25, 600 Il
d the first day Of July 1916.
2. The Legislature need not beleminded thl
n this fund stands pledged for tie payment
at these bonds. Nor Do I deem il necessas
'e @ admonish you That no further delay shoul
7. occur IN iss payment 10 the bond holder
Of than i absolutely required BY the emba
Ot rasmenls Of the Treasury. hope indeel
g itmay BE- found expedient q make 81 II
y propfiaslo q this sessions payable Il Jul
q nexl, ol sam euflclentto cover the amouI