The Yazoo Democrat., 1854-09-13
Tn the Pmlllfc.

tse-S
correcting q misapprehension obtained to
some extent ii the public mind in reference
% = matter Of general interest. | have refe-
renee to the management and appropriation
of the school fund, Of this county, for the
last two On three years, by the board Of school
commissioners.
At the March or April meeting Of said
board [Col. J. J. b. White and the writer
only being present thcy employed Mr.. f.
Bostick renew all the notes, bonds, &c, due
the school fund for which they agreed to pay
him FIVE per cent. For this act somebody is
highly ccnsured, many condemping it as a use
less outlay or reckless squandering of this
important fund, somelaying the blame on
the Board of Police, some on Mr.. Bostick,
others where it ought to be, if anywhere, on
the Board of School Commissioners; but my
object is to show that the Commissioners
did, perhaps, the best that could have been
done under the circumstances, and that they
are not so much to blame after all
At the time Of this transaction, many Of
the notes due the School fund were out Of
date, and many more We're just on the eve Of
running out, and would soon be barred by the
statutes, if not renewed, on which some sev
eral years interest was due and not paid. We
had learned from the best authority that the
Supreme Court had decided that the pay
ment Of interest on debt was not a renewal
of the note-or obligation, and therefore did
not bind the debtor to pay the balance, if
barred by the statutes. In view of the con
tingency the Board-had more than year
previons-to this notified and requested every
man in county indebted to the fund, per-
sonally aud through the papers also, to come
forward and renew their notes and pay the
interest due thereon, or suit would be brought
forthwith: but two or three only complied
with this request; suit was brought on some
of the best notessin the county, the money
collected, the money reloaned, and perhaps
not as safe as before, for which the lawyers
charged five per cent, besides the fees of the
Court. Some indebted to the fund, in the
meantime had died, others might soon follow
and in the event that suit. was brought in
such cases, and even in others, westhought it
possible at least that some might plead the
statutes and thus subject the fund to the loss
of the whole, and the lawyers and court fees
to pay besides. These were reasons sufficient
if no others existed for having the notes re-
newed, but there were other reasons. 1t was
deemd a matter of some importance in order
to facilitate the collection, Of interest, and
the loaning out the principal, to have the
notes all made payable at uniform date, to-
wit: the lstgof January of each and every
year. Previously, notes were falling due at
various times, and the money to be reloaned
People in the country not knowing when
there was money to loan, seldom made APP
plication; the consequence was that the citi-
zens of Yazoo City and its immediate vicini-
ty had borrowed nearly half the whole
amount of the fund, thereby in many In
stances depriving citizens in the country who
wished to borrow, and who had a preference
by law, to borrow the funds in their respec-
tive townships, from doing SO. In one in
stance note of twenty seven hundred dol
lars was paid in and loaned out, on note ap-
proved by two Of the Commissioners on the
streets, week or two before regular meet
ing Of the Board, without waiting for an ap
plication from the township, and for aught
know, for fear an application would be made
In future, the 1st day Of january viii be the
time when all those funds will be due, and
will be loaned out, and everybody have fair
chance. The truth is, the whole business was,
in the most awkward and tangled condition,
and must say had not been managed with
that care or had that attention bestowed up
on it that it required or deserved. This, how.
ever, was not so much the result of bad man
agement as to defects in the laws governing.
the Commissioners.
But It may be asked, why did the Com
nnissioners give such q high per cent; simply
/ will answer, because we could not get it
done for less--had we put the notes IN law
yers hands, we should have had to pay them
FIVE per cent, and the fees of the Court be
sides, and then perhaps, as was the.ease, in.
two or three instances, not have the money
in as good hands as it was before. Mr.. Bos-
tick performed the duty well, and we knew
he was as well, if not better qualified than
any body we could get, being well acquainted
with nearly every man, and the condition Of
every man in the county, and 7 think got