The Yazoo City Whig., 1846-01-16
n2an.a4h a


Total. e200,e45 % /
Il will be seen that these ale items Of 10
dispensable necessity and must be provided
for. They leave a surplus Of @Il3,027 90 |
on the first 0f January, le47.-There has
been paid into the Treasury ,at various times,
on account Of the Seminary fund S79.54s
20, which drawing BY law an interest of 8
per cent. amounts now 10 $103.066 40, and
there has been paid on account Of the sink,
ing fund $4,000 II Is so palpably just
that these items should be speedily adjusted
with the public creditors, that ! feel atfull 4
liberty to press them on your attention.
STATE SEMINARY.
The first payment should be made on the
Seminary fund. This InstilutioR has been
located at Oxford in Lafayette county,wheFe
suitable site has been procured for the
buildings. The Irustees held a meeting in
July, le46, aud subsequently furnished me
with printed copies of their proceedings,
which herewith transmit TO the Legislature.
An appropriation will be necessary 10 enable
them to erect their buildings Economy
should be observed in their construction;
convenience and durability being consulted
rather than beauty and ornament. recon-.
mend that the sum set apart for building be
limited 10 fifty thousand dollars.
This fund was formerly collected through
the agehcy Of the Planters Bank, and by
law il was invested in the stock Of that In~
slilutinn. II was trust fund, so declared
by an act Of Congress, making the donation
of lands, out of which it sprung. The State,
as trustee, had no authority for investing il
in the stock Of any bankss she did so, how.
ever, and eighty four thousand nine hundred
dollars, with several years interest on that
amour. has been lost. The State is, in my
opinion. under the most solemn obligation
T to par il back. ID is an obligation, not to
Congress, but TO the children within our own
borders, for whose especial education the
land was set apart. am fully persuaded
that Mississippi will neyorin incur the Feproach
: Of Withholding justice and the means Of edu.
/ cation from her own children; and therefore
submit the question 10 you without discuss
ing the States legal liability. The amount
Of this fund may be stated as follows:
Amount now in the TeasuFy
Of the State, $l03,06s 4C
Lost principal and interest ia
Z the Planters Bank, 10000 0C
! To be collected in safe
! hands and secure, ss.277 o.
Total, s25l $50 8:
What disposition should be made o this
{, (, fund, propose TO speak in connection wiiI
4 another subject.
RAIL ROAD East.
Within a very few days after the adjourn
!. ment Of the Legislature ia 1644, the Com
: missoners Of the jackson and Brandon Raj
: Road and Bridge Company, made an appli
cation to me for twenty-five thousand dollar
: of the two pei cent. fund, loaned to tina
: Company by an Act Of the LegielRtuFes afl
\ proved, February 26th, 1912. The perio
I limited By law Cor the completion Of th
4 Road having expired, and the Road beinl
! still unfinished, thought the franchises Q
' the company so far forfeited as not only {
& Justify, but indeed to lequiro me @ with
! hold The money and await further legisla
: tive action. Ia presenting this subject I
= the Legislature, it is proper for me TO say
r. that the failure Of the Company 10 c0mple N
s the Road within the time, was owing, %
!. great degree, TO circumstances which The
could not control; not the least among thes
= was their disappointment in not receiVln
: the benefit 9f this loan as early as l64S.
A. will be recollected that the act Of 1912 mad
! the loan contingent upon the consent Of Cor
gTess. Sometime after the adjournment
! Of the Legislature in that year, an agent {
! the Company repaired TO Washington for th
Il purpose Of obtaining that consents IN Whic
q he succeeded. For reasons satisfaction /
himself my ptedecesso, withheld the moaey
When came into Office thought ihe Co1
a pany entitled to receive Il, and should hav
directed its payment but for the expifalin
Of iis charter. Il seems not 10 have bee
the fau Of the Company that they I'D nc
realize the benefits Of the loan, and % tbs
extent they are irresponsible for 'he nor
completion Of the Road. ieconu md tia
the S25,000 and guch other 81 bn of ih
two per cent. fund, as Is necs ID for ilia
" purposes be expended IN comp ling the Raj
Il Road from Jackson 60 blandea. under th
I. direction Of Commissioners be appointe
o for that purpose.
!. Should che Legislature ake an addrer
q 70 Congress on This 81 ect. respectful
> suggest that, instead 81 sking . direct ap
! pIonriation Of moner this object from Ga
4 Treasury 81 tie Ion. they Should solici
= donation ofon half al lhe vacant land
4 "a al' ihs land Districts through which th
Road e pass q Be taken hy allefnalg
8 qaaHaI halt and whole sections. Themae
8 nilnas of ihe work wiz iusiliy che Lteisla
E lrfe in making ne request and iis NaliDns
consequence wili N ~ epinicnI fully a
thori11 Congress II gIanlios il a donalio
II lhue liberal viii ensure lhe success &c ih
s enterprise. and rifa lie means a speed
Il concentration al our delanees, which viii
81 'seil Be moro terrible @ an enemy sha
IS millions of 91ldicIg scattered over Ihe hgoa
tf| e1lenl o[ 0ur country