The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1846-08-01
The School Fund

"They Ttho whgs1 are afraid to face the
robbery they committed at the last session in
taking the school fund to pay the state debt.
- bennington Gazette.
The wings shrink from no responsibility
which is justly theirs, As to the abolition of
the school fund, they are abundautly able and
willing to '!face" any locofoco upon the sub
icct. That robbery was committed i'll abol-
ishing this fund, we defy the Gazette or any
locofoco to prove. And as to the State debt,
we should think Il locoioco would he the last
to mention it. If there was any State debt to
pay, it is well known that debt was occnsion-
ed by the building of the State House. And
who, let us inquire, were concerned III mat
business? The State House was built and the
expenses of it incurred by Palmer, Egerton
& Co., the hottest locotocos Vermont can pro
duce. So that if there is anything in the a
bove charge off locotocos, it is that the
wings have paid their debts for them. But
they robbed the chidren's money, say they.
What children?-whose children? Certainly
none that are now in existence or will be for
many years to come. Mr. Dillingham; once
said in the VT. Legislature that he did not
think the school fund would eUer be available
TO the children of Vermont. Will locotocos
receive his authority?
TIC TACT Is the nrt constituting tins tuna
provided that, ''until the same shall amount
to sum, which shall yield an annual inter-
est or income, sufficient TO detray the current
expenses of keeping a good free common
school, in each district in the several towns
for period oftwo months, it shall not be ex
pended or appropriated to the use ofcommon
schools"
Admitting the number oftowns in the state
to be 2i0, and allowing IL districts to each
town, and $jS,S2 as the expense of keeping
good free common school for two months
in each year, it would require capital of ST.
100000 yielding an interest of6 per cent. per
annum, making no deductions for loss or ex-
pense in managing the fund.- before the peo-
pie of the state could expect to realize any of
the benefits contemplated in this fund. The
Auditors report in the Treasury department,
in Nov 1871, showed the fund in round num-
bers, to be $164,000. 1t had been accumnla-
ting sixteen years, and it would require fifty
five years more, before that sum, at COM
pound interest, making no allowance for loss
or expense, would amount to 100000 or
very nearly. This snn would be required, to
Weld the necessary amount of annual interest.
In this calculation no allowance is made for
increment of population, though at the rate
of increase, as exhibited by the census for the
last twenty years, it would have accumulated
more than twenty per cent. This possible in
crement ofpopulation and the indefinite sum
required, to keep school two months in
year, might possibly outrun the yearly addi-
tons to the fund, and thus, much further de-
lay the period designated for the distribution.
We have here given the facts in the case as
distinctly as we can, and ifany locofoco, after
reading them, will accuse the wings ofrob-
bling the children, we are bold to pronounce
him either knave or fool, and he may take
which horn of the dilemma he pleases.-
Bradford Protector.