Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-08-04

$500

that time the benefactous uom INC ceaeo
have amounted 60 4,oVo
being three years intercs, ON the $4,000 ---
Total public contributions 20 this date $4,000
This view Is lot perfectly complete, for Il omts some
small matters of interest and rent the
side and the heavier items OF expenses since ls49,
and interest upon all expenditures, on the other SO
that Il Is less favorable than IL complete but
IL Is sufficient give idea Of the immense dspropor
ton between the real burdens and OF the College
and the donations which have been received from public
sources.
But II the gifts Of the CITY and the State in is44 and
1880, had been times great they were, what
would in regard TO the question under dscusong
Why the Medical School, at the time OF its foundation
in 1887, and for afterwards was las must
be conceded that It was) work Of private enterprise,
reared and sustained by private funds only aud by reason
thereof private rights became vested in the professors
those rights not taken away by the public g espe
caly there nothing in the form OF the gin TO ind
cate such intention Ii Is impossible perceive how
gin to the Medical Faculty, by the City or by the State,
could have the effect Of taking away any right iro the
Faculty or of giving power to the Trustees OF
Hampden Sidney who not named in these trans
actions unless there was such condition annexed to
the gift None such expressed, and certainly none
such be implied from the act OF giving for gilt
implies a benefit, not burden.
Our time and the readers patience will not allow ns To
notice all the specimens OF the candor and accuracy OF
these iault-nders few others OF them, however,
must be noticed.
IL is gravely and positively alleged in the memorial that
the provisions OF the acts of Assembly, authorizing the
loans from thu Literary Fund the Faculty OF the Med
cal College that is say, those provisions OF said acts
which required real and personal security be furnished
by the Faculty, have not been complied with.
In what way have they not becnS Why, FIRST the
required that the President aud Directors of the Literary
Fund should retain lien upon the land buildings &C..
in which the $4,000 should be invested Was that
doneg Oh, mol the % say, instead of preserving the
latons Of debtor and creditor between the Faculty and
the Literary Fund, the conveyance the Literary
Fund in fee simple, directly ami absolutely. Now either
the - did read the deed which hey profess inter
pref their mistake in this matter extraordinary
unaccountable. The deed answers the double purpose
conveyance to the Faculty from Giles and Others, tn,
persons from whom the let bought by the Faculty,
With the money given by the City, aud of a mortgage b,
the Faculty the Literary Fund secure the payment OF
the State Loan. Giles aud Others the owners with tn,
OF the Faculty do IL deed convey the prop
erty the President and Directors of the Literary Fund
not In lee simple sbsoue bat in for purposes dis
tncty specified and especially for the purpose Of secur
ing the loan aud the orelu and well drawn provi
inserted in il, afford conven It.
sae and ample security to tie Literary Fund.- that il
possible for legal learning ingenuity devise The re-
auons OF debtor and credtorare fully preserved and
coguzed in IT, and in short rre is shadow OF POUNDS
uou, As Tar as can perceive for the criticism which has
been passed upon it.
But the faculty gave pesonal security il Is said
Now the act does not require tie members OF the Faculty
TO give bond With security" which technical term
would import that each should give his bond with one or
securities, but in genera terms only requires that
the Faculty give the PreieO aud Directors of the Lit
erary Fund sufficient persona security" for the pay.
men &c. Under this language kind Of security might
be taken by the said President ml Directors that
personal ana " suthcent' Now, the President and
Directors OF the Literary Fund the judges both Of the
form of the security and its uidency They took what
they deemed proper and sufcien the fully
disposed OF by the proper tribunal But the 80 not con-
tent with controlling the Trustees of Hampton Sidney
and the Medical Faculty. usurp the functions of the Lite
rary Board and review and revene their decisions II
the Board decided wrong what haze they do with il
Ii the security is insufficient what business il OF theirs
But like shoemaker, that wander nom their lasts they
falling into blundes in the very act of finding
f'ult and while endeavoriug display their superior
dom.
We suppose that If the Literary Board had divided the
debt into six equal parts and taken the bond of each
professor in penalty douh, his siIt part with surety
whose estate regarded equal the penalty and with
condition for the payment OF that sixth part with its
terest that would have been regarded by the me
moriats su!cicnt compliance with the act of As
sembiy Aud it would have been iust rs competent fo
the Board take the different professors a. surecs for
anoth as TO have taken other sHretes
them Now the arrangement actually made is still better
Tor the security Of the debt all upon the Pro-
iessor. Each Professor made give his bond in "A
eiaity oil SS,JOO which d more than double MS Oth
part OF the deO without any in the bond
condition. not for the payment OF his sixth part Of the
ebt merely but for the payment Of the 'chole dsb the
Shoe $4,000 aud the punctua payment Of interest upon
{, also to pay the taxes the property and to keep the
buildings sufficiently insured against fire. the principal to
paid whenever required 10y President and Directors
tie Literary Fund and further security to be given
Shenever in Ike manner required Thus while under
he form OF arrangement first above suggested the
ty for part debt would have been lost if the pru.
cpa aud IN one bond should become insOyeut
uder the arrangement actually made the debt e perfect
y long any three Professors remain
The extent of the penalty OF the bonds gwen.
No" there never has been Psro since ths Psn
loudly secured Fo. the State holds first perec: lien
lpon te land and buildings which cost $50 OOI and
KEEP, insured and in good repair a city where real
property is always increasing in vauc AMI secondly it
holds the bonds of the Professors for s5 900 with cond-
ion for the payment of the s2j 600. Anl long
hrcc Of the six Professors be Ounl whose
yorth each oaethri of the debt secure and
any time it begins be insecure the Literary Fund
require further security enforce instantly all their
securities
Again say what truth is there in the allegation that
he provisions of theacts OF Assembly requiring security
ave not been complied with Aud If there il none
nght not sbme responsibility some share OF public indg
ion At least he visited upon those who publicly make
uch and injurious assertions in regard 20 matters
IF such momensuch charges Of gross violations Of
the part Of the Faculty AMI gross direlicon OF
iy the part OF the high public lnctiOnaries campo.
ing the Board who have charge of the Literary Fund
Now the peculiar of the undertaking Of the IA
glty an1 Professors o. tn Medical school, in respect
us Debt Of $4,000 III, State involves two cnnsIe-l
Yus which have IN important bearing upon the main
question u8ier discussion that the question whether the
usnt If ointment is vIuy in the Faculty or wholly
pd exclusively IN the Trlstess Those Considerations
re u.s. it is evident the State has an interest in
iaving the appointments filed by those who ar Interest
Iobttnng Prle competent in estate to keep up the
value Of the security. The second is that the Professors
ucn-eyes have a similar interest and ought TO have
r throw the whole burden Of this debt upln sue Of the
ID members ain solvent. The Trustees have no
uch interest and don't trouble them selves with any such
inquiries. We they would like % he charged
With the diAgreelbe duty of making te-u and We, in
Justice both the Faculty aud the STATE they ought 20
made In this aspect surely fn other the act ofthc
Trustees in making original appointment Of their own
II person in way nominated approved by the "a
! 'ulty, assumes a harsh and injurious appearance.
Our % friends with considerable parade of words
again introduce the deed from Giles Others 10 the Pre-
dent and Directors Of tic Literary Fund given to secure
he repayment OF the frat loan male by the State aud for
,ther purposes at least suppose that the important
md y0umnous document referred TO- because the word-
quoted found IN IT, IL il quoted prove that the "a
Guilty it, members have individual rights in regard
Medical SshJJ. it, government aud it, property
Let il be remembered that that deed conveyance made
With the AMI the instance Of tie Medical Facu
~ by the persons from whom the lot which the ilcgo
buildings stand purchased with money given "a
N Faculty by the City. The olyeyancc contains mort.
gnge the Literary Fund for the security Of the debt
with power sell for ia payment aud giant Of the pro
pcrty subec, to that m,rgg', 70 the Medical Ficiy-
portion Of TIA; part Of the deed which grants to the
Faculty the equity Of redemption IL quoted by the