American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1855-12-08

then, in addition to the interest arising from
the bonds. an appropriation should be made
from tho Literary fund 10 such college, oil
an amount equal TO tho interest OF $23,O 600.
This would give TO eaci, institution comply
ing with these terms an endowment equal
to S75 600, exclusive Of buildings, s. would
contribute greatly TO place II upon solid
foundation. insuring its usefulness to all
time. In like manner when an hundred
thousand dollars should be raised and invest
ed, the interest upon $4,000 might be APP
propriated. And TO prevent too large drain
from the Literary fluid, the maximum a
monnt might be limited to such sum as the
general assembly might deem eXpedient. -
II is believed that several of the colleges
could without difficulty obtain the nece ssaty
funds to.comply with these requisitions.--
The investment i'm State securities would
contribute greatly TO raise the value of these
securities. and the bonds would be held by
our own institution; and when redeemed,
the amount would bs Immediately reinvest.
ed, always aiding in sustaining the public
credit. As this plan would require yeats
for It's development, the Literary fund
would no doubt increase in ratio sufficient
TO meet any draf. that might be requisite for
its accomplishments. Ii all the colleges
should ultimately avail themselves Of its
advantages, i, wonld give 10 them increased
facilities for Instruction, advance them to
the highest Of usefulness, and enable them
10 contribute more extensively and efficient
ly to the mental eXaltation, The weal,h,pow-
er and glory Of the commonwealth. Her
literary Institutions, placed upon perma-
nent basis and disseminated through her diff
ferent sections, would be fountains from
which would flow, in all directions, streams
Of intelligence 10 snli2hten and bless the
Masses aud Virginia, now great in her ply
steal resou rces and political influence, would
then be pre.eminent i'm the means Of intel
lectual Developments. earnestly recon-
mend this subject, to your favorable consd-
Grafton.
For while we are endeavoring TO contrib.
ute TO the improvement Of our university
and colleges. should we be lorgetful of the a
cademies and primary schools Agriculture,
the mechanic arts, philosophy, navigation,
commerce, and all the improved mutations
in the conditions in the condition and morals
of mankind, have education as their ground
work The mental improvement of the mas
SEES affords the only security for the protec-
ton of persons and property, & intelligence
and virtue ought TO be the only passport to
fame aud distinction. BY enlighening the
great body of The people, you inspire them
with confidence enab lie them properly to
comprehend and appreciate the great privil-
eyes and immunities they enjoy; establish
upon firm basis the magnificent superstruc,
ture OF the governments and adopt the wisest
measures for transmitting pure principles
unimpaIred, 10 those who succeed us on the
great political theatre, To accomplish these
great purposes, some Improvement in on
common school system is absolutely neces,
sary. Ii appears to me to be radically defec-
tive, and no feature is probably more objec.
tonabe than that which places the edmca.
ton OF the poor among The charities Of life
IL is humiliatng in its tendency and discour.
aging in its effects. Your attention TO this
important subject cannot fail to elicit i'm.
provement in the system.
Ii has sometimes been objected, tina, it is
unjost to require the wealthy to contribute
to the education OF the poor To our system
this objection cannot be urged, because the
capita ton tax, which is the only part of the
revenue devoted to the Literary fund, is de
rived alike from all, and the primary school.
should be alike Tor the benefits Of all. Blu
even 1t the objection were tenable. & taxa
ton were resoriad TO for the education oil
| the poor, it might be said with truth that
while the wealthy contribute the larger a
mount, they have the larger interest a stake
and require greater amount of government
protection. In a republic, governed by the
majority, the people manage and control.
is OF vital Importance, therefore, that thu
government should be inlrusted to the guild
ance and direction Of educated men.
The poor form the largest class in almos
every community, and without aid are DIES
| titute OF the means of acquiring an educa
ton. The consequences is, that many brigh
genius, which might have shed its rays ant
been an ornament in the counsels OF tn,
country, lauguishcs III humble obscuriiy witt
the germ OF its aspirations obltera,ed oy in
exorable necessity.
The man of wealth. under our system o.
equ'i distribution of property among the heir.
& under the natural laws which establishes
period for The growth, maturity decline 81
extinction Of wealth as well as everything
else, cannot tell how soon his desce ndaut (
may not require assistance from those &c
whom his bounty may be extended.
The interest of both classes are essential
ly the same. s. both have alike inducemcnt
to unlock the treasures Of knowledge 70,
themselves and their posteriy. that all may
BIZ elevated to the proud position of enlght
ened freemcn, and that il may be said of us
.'Wisdom Cryeth withQut-sh she uttereth hel
voice III the streets"
Firmly impressed with tho belief that the
cause Of education, and especially that Of
primary schools, is second to no great inter.
est OF The State, should be derelict III duty
il failed TO recommend it in the strongest
terms TO your favorable consideration
The second auditors report will exhibi
the financial condition of the Literary Fund
IL will be only necessary for me To state thai
its available capital is S l,6ll,75S 81. OF
this amount there has been invested 1881
1872 SO, leaving the sum of S50h62 55 TO b:
invested. The net revenue derived from
these investments during the last fiscal year
was sS7s. 500 81.
The receipts into treasury from all sources
on account of this fund including balence on
baud on the LIST Oct. 1854, wcreSl65, 70i &c
and the disbursements, same period, were
s SO, 648, leaving a balence in The treasury
to the credit Of this fund, on The ST Oct. of
the present year, Of S3,056 76.