Charles City Republican intelligencer. [volume] (Charles City, Iowa) 1861-1864, 1862-08-14

of the moneys which may be received
therefrom, shall be paid by the States
to which they may belong ont of th,
treasury of said States, so that the en-
! tire proceeds of the sale of said land,
shall be applied without any diminu
tion whatever to the purposes herein
after mentioned.
SEC. 4. Aad be IL iturtler enacted, That
all moneys derived from the sale O
the lands aforesaid by the States tt
which the lands aforesaid by the
States TO which the lands are appor
toned, and from the sales of land
scrip hcrcinbcfOre provided for, shall
be invested in stocks of the United
States, or of the States, or some other
safe stocks, yielding not less than
five per centum upon the par value OF
said stocks and that the moneys so
Invested shall constitute a perpetual
fund, the capital of which shall remain
forever undiminished, Except SO far
as may he provided in sectien fifth of
this act, and the interest of which
shall be inviolably appropriated, by
each State which may take and claim
the benefit of this act, to the endow-
ment, support, and maintenance of at
least one college, where the leading
object shall be, without excluding
other scientific and classical studies,
and including military tactics, to
teach such branches of learning as are
related to agriculture and the mechan-
ic arts, in such manner as the legisla-
lures of the States may respectively
prescribe, in order to promote the lib
eral and practical education Of the III
dustrial classes in the several pursuits
and professions in life.
SEC. 5. And be IL further enacted, That
the grant Of land and land scrip here
by authorized shall be made on the
following conditions, to which, as
well as to the provisions hereinbeforc
contained, the previous assent of the
several States shall be signitied by
Legislative acts:
First. If any portion of the fund in
vested, as provided by the foregoing
section, or any portion Of the interest
thereon, shall, by any action or con-
tingency, be diminished or lost it shall
be replaced by the State to which it
belongs, SO that the capital of the
fund shall remain forever undimiEish-
ed and the annual interest shall be
regularly applied without diminution
to the purposes mentioned in the
fourth section Of this act, except that
sum, not exceeding ten per ccntum
upon the amount received by any
State under the provisions of this
act, may be expended for the purchase
of lands for sites or experimental
farms, whencuer authorized by the re-
spcctive legislatures of said States.
Second. No portion Of said fund, nor
the interest thereon, shall be applied,
directly or indirectly, under any pre-
tcnce whatever, to the purchase,
erection, preservation, or repair OF
any building or buildings.
Third. Any State which may take
and claim the benefit of the provisions
of this act shall provide, within five
years, at least not less than one col
legc, as described in the fourth sec
tion of this act, or the grant to sucl,
State shall cease and said State shall
be bound to pay the United States the
amount received of any lands prcvi-
ously sold, and that the title to pur-
chasers under the State shall be valid.
Fourth. An annual report shall be
made regarding the progress of each
college, recording any improvements
and experiments made, with their cost
and results, and such other matters,
including State industrial and econom-
ical statistics as may be supposed
useful one copy Of which shall be
transmitted by mail free, by each, to
all the other colleges which may be
endowed under the provisions of this
act, and also one copy to the Sccreta-
ry of the Interior.
Fifth. When lands shall be selected
from those which have been raised to
double the minimum price, in conse-
quence of railroad grants, they shall
be computed to the States at the max
imum price, and the number of acres
proportionally diminished.
Sixth. No State while in condi-
dition of rebellion or insurrection
against the Government of the United
States shall be entitled to the benefit
Of this act.
Seventh. No State shall be entitled
to the benefits of this act unless it
shall express its acceptance thereof
by its Legislature within two years
from the date Of its approval by the
President
SEC. 6. Ane be IL further enacted, That
land scrip issued uuder the provisions
of this act shall not be subject to To-
cation until after the first day of Jan,
uary, one thousand eight hundred and
sixty-threc
SEC. 7. And be IL further enacted, That
the land officers shall receive the same
fees for locating land scrip issued un'
der the provisions of this act, as Is
now allowed for the location Of militia
/ ry bounty land warrants under exist
ing laws ProrMrd, Their maximum
compensation shall not DC thereby in
creased.
SEC. 8. lad be IL further enacted, Thai
the Governors Of the several States t,
which scrip shall be issued under this
act shall be required to report annual
ly to Congress all sales made of sucl
scrip, until the whole shall be dispos
ed of, the amount received for the
same, and what appropriation has
been made of the proceeds. a
Approved, July =, 1862.
IPuBlIc-No. 100.
AN ACT making appropriations fo'
the support of the army for the year
ending the thirtieth of June, eigh