Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1866-01-12
his subject entitle his views to great

this subject entitle his views to great
4 weight.
Our Constitution makes the State the
responsible and perpetual guardian OF
this fund. ultimately liable for every
dollar which passes through its hands.
From this liability the State cannot
absolve itself; and the people being sub
ject to taxation for all losses which NAV
occur, the importance of carefully guard
ing and preserving this fund by eff
cient legislative enactment is apparent.
The educational interests of the State,
and the success of our common schools
depend upon it and therefore this duty
must at all hazards be faithfully per-
formed.
1t should be borne in mind that the
principal constitutes the permanent
and inexhaustible fund, while, on
ly the interest derived from its in
vestment creates the semi-annular
fund distributed among the schools of
the State for their current support. No
mode of investment or rate of interest
is prescribed by the Constitution. This
matter is left to the sound judgement of
the Legislative department.. We may
loan it out to individuals as We have
heretofore done, or invest it in bonds
either State or Nationak lam decided
ly of the opinion that it would be advis-
able to require the whole of this fund,
now floating among the counties, to be
returned to the State Treasury as soon
as practicable, and so invested as to
render the interest promptly receivable
for apportionment among the schools.
Would it not be judicious to redeem
our outstanding State bonds with this
fund, executing in lieu thereof; bonds
bearing the same rate of interest, paya-
bic semi-annually to the School Fund,
and the principal redeemable ut the
pleasure of the General Assembly? We
are now paying an annual interest Of
$35 900 upon our bonded debt, and the
most of this goes into the pockets Of
nonresident holders. By adopting the
a reasonable time, liquidate our entire
Indebtedness, by transferring it to our
selves, paying the Schools of the State
instead of strangers, the interest accru-
ing thereon and at the same time
make safe and permanent investment
OF this sacred fund. l can perceive no
sound objection to this measure, and its
Importance Is so obvious that trust it
will meet with your early and favorable
consideration.
AGRICULTURAL COLLEGE.
The completion of the Agricultural
College is subject which demands
your early attention. BY the Act of
Congress under which we obtained this
rich endowment of lands for the benefit
Of Agriculture and Mechanic Arts, the
State is required within five years from
the date of the grant, to provide at least
one college as described in said Act
If we fail to comply with this condition
the land thus granted will revert to the
United States. TO lose this magnificent
donation by our own neglect or parsi
mony, after having accepted it, would
not only reflect lasting disgrace upon
the State, but would be all irretrievable
injury to the advancement of our agri-
cultural interests. The primary object
of this grant is to establish an expert
mental and model farm, where all the
fruits and cereals adapted to our climate
and soil may be thoroughly and scien-
titically tested. The object of the Col
lege, as contemplated by the law, is to
teach the different sciences which are
necessary to more eminently qualify
our young men for this enrolling avO-
cation. Such is the character Of our
climate and soil that agriculture will
not only be a profitable pursuit, but
must, in the very nature of things, for
ever constitute the great underlying in
terest of the State. Therefore the ne
cessity of providing an institution for
the proper education of our young farm
ers in all those branches applicable to
their calling is so obvious, that l trust
you will not, as the legal guardians of
this projected institution, hesitate to
freely give it your fostering care.
AS required by the act of the las ses-
sion, the Board of Trustees, after care
full and due examination, adopted a
plan and specifications for College
building. In addition to this the Board
secured sworn estimates by architects
and master-workmen of the cost of the
building according to the plan submit
ted. The proof SO furnished satisfied
the Board and myself that the structure
thus designed could be completed with
in the limits prescribed by the Act.
The work was begun in the utmost
good faith but the estimate Of expenses
being based upon prices prevailing at
the time our calculations were made,
were, to a great extent, frustrated, in
consequence of the unexpected and eX-
orbitant advance in the prices of mate
rails and mechanical labor The APP
preparation, it will be remembered, was
but two-fifths of the limited cost of the
structure. These facts are more fully
explained in the memorial of the Board
which in due time will be presented for
your consideration.
This building must be completed at
all hazards, and I trust the General AS
sembly will not hesitate to make an APP
| preparation adequate to accomplish the
| Nr-if h No. tal h.y Nbp
grant. When complete upon the pres
ent plan, next to the Insane Asylum at
Mt. Pleasant, it will be the finest edi-
flee in the State; and will have been
erected for much smaller sum than
the other States have expended upon
their colleges under the same grant.
l also recommend an appropriation of
So 200 for the purpose of reliably testing
by means of an experimental orchard,
the varieties of fruit best adapted to the
soil and climate of this State, and for
the purchase of additional heads of i'm
proved stock. These departments will
be of immense practical value to the
State, and can soon be made self-sus-
tanning: and their utility depends very
much on their early introduction.
HISTORICAL SOCIETY.
The State Historical Society is one of
the established institutions of the State,
and its utility as permanent repositO-
ry of historical documents, relics and
memorials will be increased from year
to year. This institution should be lib
orally provided for. The interesting re-
port of the curators herewith transmit
ted will furnish you with satisfactory
statement of its present condition and
wants, and l respectfully and earnestly
commend them to your attention.
CHARITABLE INSTITUTIONS.
The charitable institutions of the
State demand your careful attention,
and they should receive all needful and
appropriate aid. The reports Of the
proper officers of the Insane, Blind and
Deaf and Dumb Asylums herewith sub
mitted, will furnish you with all neces-
sary information III regard to their fl
naficial affairs and general condition.
They appear to have been both ably
and economically managed. And it
should be regarded as matter OF sim
cere qualification, that these institu-
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