Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1849-12-12
Looming the school Fund to Cor
EsOratiOns.

we noticed, tome weeks since, the publication in
the pubuaue Tribune, Of a communication from L.
II. Lanswor.hy, addressed to the Superintendent Of
Public instruction, proposing a loan OF the school
Fund, TO company for the purpose Of constructing
The Dubuque and Keokuk Railroad. This project
was % fraught with danger to the most sacred trust
at the disposal Of our legislators, that we thought
there EXISTED no necessity fo- caution from U.s.
Since then we SEQ the project noticed in other pa
pers, not, however, with any very decided approoa-
ton, but in such manner as to excite apprehen-
sion that the great anxiety to construct the propos
ed Improvement may blind the eyes Of portion OF
the people to the legitimacy of the means by which
j: may be accomplished. Now no man in the State
can feel greater degree Of anxiety for the early
completion Of the Dubuque and Keokuk railroad
than ourselves. We are located upon the direct
line OF the proposed improvement, yet this cannot
make blind to the fact that there are large por-
ton Of the people Of the State who feel Compare
lively disinterested towards the work, AID whose
interest is almost wholly circumscribed to the
amount of taxation OF which they will be relieved
through the increase OF productive wealth and the
enhancement Of property which it is destined to
effect in the eastern and interior portions of the
State. Towards this class Of our citizens. there
fore there would to be an injustice ia project
like that under consideration, which proposes to
devote the of exclusively state fund TO local
purposes; and if the project is once seriously en-
tcrtained, they would have as good right to ask
for 4 similar alienation to projects of their own
choosing. Thus, the example once set, the desc
to hod
only by its amount and the strongest system or COM
bnation Of legislative ogrolling would control its
disposition,
The abovo include our main objections; there are
many others, few Of which we will refer to. 1t
interferes with, and the policy so wisely
adopted by the people CT Iowa at the outset, which
policy waste provide literally, for the mental
all other objects, and especially to the great
and otherwise laudable one of internal improve
ments. We refer, Of course, to the diversion OF
land allowed by the general government from
internal improvement, to educational purposes.
We cannot for moment suppose that the people Of
Iowa will listen to any pruject which, like the one
under consideration proposes, in effect, to reverse
this policy, whatever may be the object to be ac-
coIaplshed.
Thus much against projects Of this kind in gener-
al. A few additional words will suffice in relation
to this. proposes to place this fund in an inse-
cure investment with corporate Company, and, as
il conscious of its insecurity there, confempates
making the estate itself guarantee the amount loan
ed" This in the light of security, is equivalent
to giving the fund away at once, as it makes the
person loaning the fund guarantee its payment'to
himself. A similar project has proved most dis.
astrous in other states-particularly in Illinois,
which lost 100000 of its school fund in test
ing it. It behooves US, therefore, to profit by their
bitter experience, experience which is annually
brought fresh to the remembrance Of the people Of
that state, through direc. taxation to supply the
deficit. Besides, If the project was otherwise fea-
sible it would deprive the rising generation of the
proceeds of the school fund for several years. and
at time'wh the people are least able to supply
the deficiency themselves.
Thus much we have thought it our duty to say,
in the face of what would appear present interest
Duty called upon but recently to denounce pro-
ject which,through the issue of an enormous amount
of state Indebtedness. threatened to ruin credit
and involves in debt, for the exclusive and even
questionable benefit Of particular portion Of our
citizens; and should be false to professions
did We not oppose project which proposes to Grip
Pile the the mental development Of the rising gener-
alton with as great alacrity as we did one which
proposed to saddle them with hopeless debt.