The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1867-02-20

lions Of dollars. Wv many years the State
received large dividends from that bant
over aud above the interest on these bonds.
Tie State paid The interest witifout inter.
ruption till ts40. since which no interest
has been paid, except 4 payment of about
one hundred tl6osana dollars. which was
found in the treasdfy applicable TO The pay
ment 6f the coupons. and paid bya 'nsn-
damus ofthe Supreme Court Thevalidt.
" Of these bonds has never 6eeiHddestion.
ed. and they must not be ccnfounded win
another issue Of bonds made by the State
70 the Union Bank, shes recognitiont OF
which has been a. subject Of costreysrsY
with portion Of the population Of M's-
sissippi. as.sF3 r. sscis tfsl w. !.
Various acts oi the Legislature. viz Of
February. I27r ls42; February ~ ist4j
febsuary. l6 le46; Frbruary25, 1896
March 4. ls48 !; and the highest jadielal
tribunal of the, State have conhrmed their
validity, and fhaye no doubt that at an ear
lily day such Legislation will be had as ~
make these bonds available in increasing
the usefulness { the present trust.
Mississippi. though now depressed. is
rich in agricultural resources. and cannot
long disregard the moral obligation resting
upon her 10 make provision for their pay.
Imrat. In confirmation of what have said
in regard TO the legislative aud judicial ac-
ton concerning the State bonds issued to
the Planters Bank. herewith place inyenr
hands the documents marked a. er 90
The details and organization of the trust
| leave with you, only requesting that Mr.
Winthrop may be Chairman. and Governor
Fish and Bishop Mcllyaine Vice Chairmen
loi your body. And give to you power
10 make all necessary law aud regula-
tions, 10 obtain an act Of Incorporation il
lany shalt be fvaud expedient. 20 provide
for the expenses OF the trustees and Of any
agents appointed Dy them, and generally
10 do ali such acts as may be necessary
10 carry ou, the provisions uf this trust.
| All vacancies occurring in youi number,
tby death, re.ighation. or otherwise, shall
Ibe filled by your election, so soou as con-
venien,ly may be. and having in view az
Equality of representation SO lar as re-
CARDS the Northern and Southern States.
furthermore give 10 you the power, 10
case two thirds oi the trustees shall al any
time alter the lapse d thirty years deem !
expeJient, 10 close this trust, and OF ths
funds which nj that time shall be 10 th.
hands Of yourselves and your successors
TO distribute not less than two thi, ds a
mong such educational or literary instiiu'
tiuns, or for such educational purposes. NJ
you and they may determine In the State,
ior whose benefit the income is nov sp
poin,sd 10 be used. The remainder ma.
be distributed by the trustees Tor eduea.
tional or literary purposes wherever the!
may deem IL erpedient. II.
IN making this gilt. | am sware that th'
fund derived from IL can butad the State
which wish 10 benef, in their own e1er
tons to diifuse the blessings Of education
and morality. Butif this endowment shal
encourage thnse now anxious for the llsh
OF knowledge, and stimulate 10 new effort
The many good and noble men who cherisl
the high purposes Of placing our grea
country foremost, not only in po~er, bu
lin the intelligence and virtue uf her ci,i
zens, il win have accomplished all tha.
, can hupe.
!, With reverent recognition Of the need .
the blessing oi Almighty God upon thi
rift, and With the eferyent prayer that unde
Ills euidance ypur eounsrIs may be direct
ed for the highest good Of present and 10
ture generations IN our beloved country
am, gentlemen, with great respect, you
'',''-"' cpous.r me- pOny.
Washington. rsb.y = ies7. - -. = s.."l
4 Upon the receipt Of this letter by IloT
In. q. Winthrop. . meeting of the trustee
! named iherein was called by him At wa
j llard's Hotel. There were present. Hot
n. c. Winthrop. the Right Rev. Bisha
fMclisaine, General Grant. Governor Al
} ken, Msssrs. wiliam ~. Evsrts. G. M'
] | calestsr, g Gsorgs w. Riggs, Samuel We
more. Georre N. Eaton, Ind George Pet