Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1857-10-16

And upon final settlement of commissions Of She
riffs and Of their accounts of iusolvent lists, there
will be balances probably. yet to be credited rec tee to Lite ate
which, added to the probable balance above stated
will make a sum very little, if any. short Of sl0O. 900,
to be set apart and paid to credit of Literary fund, for
future appropriations.
A sYNoPT1cAL VIEW OF THE C~APlTATIoN TAX!
AS FAR AS THE CoUNT CAN NOW BE
Appropriations of capitation tax: For 1852 and 1858
$50, 900; for 1853 and 1851, sos, 900; for 1851 and 1883,
$50, 900; for 1855 and 1856, e 5000; for 1856 and 1857,
Sl2O, 900. Total, S356, U0U.
Sums set apart and paid to credit of Literary fund;
For 1853, $4,000; for 1854. $7O,91O 10: for 1855,
s25.s74 10; for 1886, slO5,9l6 %; for 1857, s3O,oOO.-
Total, $272,7GO 81.
Sums paid to Superintendent of Schools out Of
amount set apart to Literary fund:-For 1858
$50. 967 AZ; for 1854, 500 9S2 80; for 1855. S64,3Ol Is
for 1856, SIPS / %; for 1856, S53, 77U ~; for 1857
S62.2 $50 6S. Total, S243,353 sc.
Amount of balances left to credit of Literary fund:
For 1882, S6,O32 IS; for 1853, 1887 Ell for 1855
1913, lOl O5. Total slOO,l2O IS. Amount of balance
remaining to Literary fund over amount paid super.
intendents, 1924 N 81.
Amount of balances paid to superintendent over
amount paid to credit Of Literary fund:-For 1852
600; for is5i. 1913, i26 OG; for 1854 and 1856, S32,2s 60
Total, $7U,0l3 81.
Total appropriations $356 OU0 0U
Total paid to Literary fund 21216U o.
Total paid to Superintendent 243,3o3 st
Amount of appropriations over amount =,
Amount Of appropriations over amount
paid Superintendent ll2,646 ia
So much for the information I am enabled to give
you, touching the amount and application Of the
c~apitation tax.
now come to the Literary Fund proper. And
the first fact | call your attention to is, that ONE
FIFTH, in round numbers, of its permanent capital
was reported on September Both, 1855, ss lost and
giren dway. tSee Documents session 1856. part
i, Doc. No. 8, G., p 81 The losses on the United
States Bank stock, on premium on purchase of stock
| of city of Richmond, on the reduction Of the par
value of Bank Of Virginia stock, on debts due from
de~taultiBg officers, and on copy right on Davies book
OF Grim. Law, sl53,l4l IS. These were all bad in.
vestments, which the State, the iduciary of the fund.
ought to be held bound 10 make good. A guardian
or executor, or any individual hduclary, is held to
strict accountability in similar cases, and a fortiori
the Legislature ought to be held to the duty of re-.
storing and making good losses which are caused by
bad investments or by INSTRUMENTATION A faith
full sovereign will, as pa,ens pdtriG. protect at ell
events its public charities against faithless agents and
losses by public institutions and officers.
Again: BY the acts Of 27th January 1921, 9thlMarch
and 2Oth March 1850, the sum Of $223, 600, in the form
OF loans to the university, to Richmond modidal col
lege, and to Emory and Henry college was released
and given away from the permanent capital of the
Literary fund. These were not suspended debts"
as stated in the auditors report of 1888. They were
positively released and given away from the capital
Of the Literary fund, under the acts named. And
now, let it be remembered, equal justice cannot be
done to the other literary and scientific institutions of
the State, as has been done to the university, Emory
and Henry and the medical college, prior to the new
Constitutions; because, under the 18th section of art.
4th of the new Constitution, ''the liability to the State
of any incorporated company or Institution to redeem
the princincipal and pay the interest of any loan here
tofore made, or which may hereafter be made by the
State to such company or institution, shall not be re-
leased: and the General Assembly shall not pledge the
faith OF the State, or bind it in any form, for the debts
or obligations of any company or corporation Not
having any longer the power to do unto all our insti-
tutions as has been done unto these, | submit that the
legislature to make its grants equal and just to all,
ought, without taking away what has already been
given 10 the institutions named. to replace the amount,
the principal at least Of $a23,OO to the credit Of the
Literary fund.
The two items make a total Of 376,l4l IS
The available capital was on The 3Oth Sep.
TENDER, 1855, i,626,27o 95