The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1862-01-16

Expenses OF management or
the fund by the State 81 p93 oS
Interest S97 PIG u, indebted
ness -----.----.---.-- 4,%J' o.
Sinking fund provided by law $500 90
Total deductions -------.--------- 1880 ~
Net income for current EXPENSES. s7,7Ol l6
Less interest on forfeitures declared at =.
the late SALE l,o-" ~
s6,376 Il
The Report submitted by the Regents says,
"Tne expenses of conducting the University
as at present constituted, without Chancellor
and with inadequate Institutional torce-ma an
aging every expense with the most rigid econ
omy-are not less than $l0,5OD. This state
of things cannot long continue.
would respectfully commend the plan OF re-
lief suggested by the Regents which is to APP
propriate from the capital of th fund sutflcle
TO pay the debts against the institution. These
are for the building and grounds, and may with
equal propriety be provided from the capital AS
from the income Of the University Fund. rms
would leave such income as remains, unlncum
bered by the necessity of providing sinking
| fund.
Ia a communication from the Faculty, appeal
ed TO the regents report for the past year, the
policy is forcibly urged, Of ENGRAVING upon the
| University some provision for military education
as the establishment of Protessorshlp OF MIL
| ample of the Regents of the Michigan Universl-
| ty.
| l commend the subj ct to your careful consider
| ation--as also the propriety OF directing the IN
PRODUCTION of the study of Military Iactlcs In our
| Public choos, especially in the higher grade
and making drill part of the exc! cses
he exgencies of the times and the pOrtents OF
the future forbid the neglect ofmitary culture
In connection with the affairs OF the state Uni
versity, permit me to ask your consideration OF
the public interest in the prosperity OF the es
tsblished UNCONVENTIONAL colleges in the State
These have secured endowments more OF less
valuable, through the liberality OF mdlVl 1uais
generally citizens of the Older states. These en-
dowments have been solicited through agencies
established by, and their management entrusted
to various christian denominations. Canb0r com
pels the Acknowledgements that several OF these
institutions have, with very limited means, &C.
c0nplished for education in This state more than
the State University, with its mginaliy munh-
cent edowment, as managed by state authority
But the present condition of the country must al
feet with peculiar severity these Institutions
whose dependence for support is tar more upon
students than endOwments
The State would do well to extend some assis
tanc3 10 such as are of established usefulness, at
least to sustain them through present embar6ss
ments. permanent appropriation Ofone thous
and dollars per annum to each college IN the
State owning an endowment of fifty thousand dol
lars, would show an appreciation OF, and commu
nica:e encouragement to, beralfy and enter
prise Ill III Is ulreCtlOu, certain pfouucS uLost
valuable results in the promotion OF sound learn
ing and moral culture Better saven some 9th
er direction OF expenditure than withhold this.
During the past year, the books of the Land
Office, and the books relating IL the TRUST
FUNDS Of the State in the Sec. etary OF State Ot
flee. have been carefully compiled and revised
Numerous errors have been corrected which had
crept into the accounts throgh care esSnoss or
change of clerks and the haste incident TO large
land sales, am, subsequently slRrge foricltufes
task
could not we'll have been omitted. new ac-
count was; on the LIST day OF Jet last, tpened
with each fund, showing its exact condition.
with proper care these accounts may be so con
tinued to render accuracy IN future state
ments of these funds prRc .icable.
A statement OF the productive and imp oduc-
tive capital of each fund on the first day OF Oct,
last and on the first day of January instant Will
show as follows:
SCHOOL FUND.
Oct L. '6I. Jan. l, '62
Productive Capital due
ON certificates . . 81 ,489 ,693 81 81 1852 DOL s.
Productive capital due -
on loans ......-- 49,486 IS 1875, 296 SO
Cash in Treasury ..... 1851 90 36,26l II
| 2,376,S6l ~ 2l2l,Ol9 90
Decrease from forfeitures for the year
| 1861 S<0-,ofl oU
UNPRODUCTIyE CAPITAL.
Oct. |, 81 Jan. l. 50.
| at value fixed by law 537 ,753 ~ 79l ,5l6 62
Forfeited school fund
mOrtgaged lands at val
ne fixed by law. 1868 80 Isl, 75l IS
$3.50 "a ga, 1868 81
Increase, Pee, i6l 80 which
includes the interest,
penalty cost of the
lands forfeited.
UNIVERSITY FUND.
Productive capital due on -
certificates. -----.---.- 2U3,ol0 y ISu,o<! *
Productive capital due on
loans. 5S,I35 "A 54,785 Al
| Cash in Treasury ..-... 2,2O6 81 2,779 20
264 l55 81 44S,o92 Sc
Decrease from lorfeitures
tor the year 1861 Sl6,-
| 062 Al.
UNPRODUCTIVE CAPITAL.
Unsold and forfeited lands
/ at legal value. -...-... % 1874 OF SOL o.
Forfeited University I'd
mortgaged lands vt ie
gal value. -.-.-..-.--. 5,Il2 o. Clio %
s7a,446 60 $9l, 366 80
Increase Is, 919 20, which
includes the interest,
penalty and cost of adj
Vertising forfeited lands.
SWAMP LAND FUND.
Productive capital, dues
OH certif Gates. ..---... 4S7 ,0G4 81 3lO,lo4 81
Decrease of forfetures of
1861, $l7O,959 So
UNPRODUCTIYE CAPITAL.
Dnsold and for lannds at
LEGAL value ......-...I 1867 Ol3 IS l. 500, 234 SO
Increase, 1876 ,22l 81 which .
includes interest, penal
ty and cost of adverts-
ing forfeited lands
DRAINAGE FUND.
Productive Capital
Due on leans. .----.--. SSl ,043 % 5000 o.
Cash in Treasury. .--.- 3,SO4 u $500 80
Decrease from furfcitures S85. 349 40 $79,720 36
for the year 81 50, 629 %
ERprOductiUC CAPITAL.
Forfeited drainage fund,
mOrtgaged lands at le
gal value I5,I9& 81 u ,o4G %
Increase, 50 755 II which
includes interest, pen
atty and cost Of adver
tising forfeited lands
Total productive capital of all the
funds. 2,Gb( ,93G Il
Total unproductive capital of all the
funds 1853, 4l6 IS
At the value affixed to the land by
provisions OF law.
Total decrease of productive capital
from forfeiture at the last sale 45,492 II
Total Increase of unprOductive CAPT
tai, including charges for interest
penalty and advertising of forfeit
ed lands 5I1 ,357 20
The foregoing statements plainly exhibit the
workings of the present system of management
with these funds and the lands held in trust for
their accounts system producing constant de-
crease of their productive capital, with cores
bonding accumulation of unproduetive assets a:
fictitious values. II is evident this system needs
thorough renovation.
The practice of selling State lands on credit
for the principal part of the purchase money, has
proved a cheat and delusion. 1t should not
longer be continued, except perhaps in the sale
of really farming lands in limited quantities,
and in good faith for immediate settlement and
improvement.
Swamp lands in the new counties, where gov
eminent lands of better quality can be entered
in their neighoorhood, by locating land warrants
at halt the cost the State demands for its lands,
should be reduced in price.