Grand River times. [volume] (Grand Haven, Mich.) 1851-18??, 1857-02-11
THE GRAND RIVER TIMES
& GRAND HAVEN, MICHIGAN. e
WEDNESDAY EVENING, FEB. IL, 1887


LEGIsLArUE.-But few measures of inn
portance to the State at large, has, as yet, re-
ceived the sanction Of our State Legislature.
The distribution of Government lands grant
ed by Congress to the State, to aid in the
construction of railroads, among the different
applicants therefor and the disposition of the
Swamp Lands, are taxing to the utmost the
law-making powers of our sage Legislators,
and putting to severe test their inventive
genius to advise ways and means to blend
discordant opinions and views so as to crafty
constituents, sectionally, and promote the well
fare of the people generally. ae
For the proper distribution of the grant to
Railroads, a bill has been introduced recon-
mending the appointment of Commissioners,
nine in number, consisting of Messrs. HI. G.
Wells, S. o. Knapp, N. Little, s. Wood, w.
Chapman, ]. w. Sanborn, j. NJ Edmunds,
H. H. Smith and E.'O. Grosvenor, MAORI
ty of whom shall have power to contract for
the construction and completion of the con-
templated railroads named in the act of Con-
gress, and to pay for such construction and
completion by and with the lands granted to
the State for that purpose, with the condi-
tions of the act of Congress.
An amendment to this bill has been intro
duced, recommending that instead of consti-
tuting, at once, the individuals above named
as such commissioners, the Senate and House
of Representatives, in joint convention, upon
the nomination of the Governor, shall elect
said commissioners. The plan of leaving the
disposition of such lands in the hands of
commission meets with strong opposition, on
the part of some most sage in counsel, and
prospects now indicate severe struggle on
the part of the friends to the measure to eff
feet its final passage.
A bill has also been introduced to provide
for the drainage of the swamp lands, for the
disposition of the proceeds, and for the con-
frnation of the title of certain purchasers.
The following are some of its principal pro-
visions:
The Commissioner of the State Land Of
flee to have the supervision and sale OF such
swamp landslide same to be offered at pub
lie sale, at price not less than five dollars ~
acre, subject to entry at private sale after hav
ing been thus offered at public auction-the
Commissioner to cause notice of the time and
place of such sale to be published in each
county Of the State, in which a newspaper
shall be published, for six successive weeks be-
fore such sale. The purchaser of such lands
to pay sum, down, not less than twenty
u cent of the purchase money, the balance
of the principal may be paid at any time
thereafter, but the interest shall be paid an
nually to the Treasurer of the State.
Twenty f9 cent of the proceeds of the sales
of such swamp lands is to be reserved for the
purpose of aiding the counties in which the
lands sold are situated, to drain said lands,
and the balance eighty " cent? of such pro-
ceeds, after deducting the necessary and law
full expenses of such sales, be appropriated to
and constitute portion of the Primary School
Fund, derived from the sale of Primary School
Lands-said balance to be considered loaned
to the State at seven R cent interest, such
interest to be paid into the Primary School
Fund annually, and the principal applied to
the payment of the outstanding Indebtedness
of the State, secured by its bonds or stock.
The provisions of the bill, as above named,
in brief, seem to meet with much favor and
will doubtless be adopted.
A general banking law has passed the
Senate. Ninety-fve u cent is fixed upon as
the rate upon which stocks should be receiv-
ed and banked upon. The bill permits indi-
vidual bankers to start business with capt.
tai stock of twenty-five thousand dollars, and
associations, consisting Of any number of per-
sons, with capital stock of fifty thousand
dollars. The securities required to be
deposited with the State Treasurer, are two
thirds trust funds, and one-t third gold and sill
yer or its equivalent. The trust funds may
consist of the stock of the United States,
this State, the New England States, Penn
sylvania, Indiana, Illinois, Ohio and Ken
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