Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-04-28
THE SCHOOL Fa-ND-wHERE rs IT 2

A good deal of interest is felt in regard
to the school fund, about the sacredness
of which the people of Tennessee have
heard so much The specie returned
with the Bank Of Tennessee was invested
in United States 100 bonds and setapart
~ belonging to the common school fund.
The State then had fund Of S6lS, go TO
start with. This was nearly twoyears ago.
subsequently this fund was loaned or
transferred in some way to the Tennessee
National Bank at Memphis by the late
State Treasurer. The State has recoy-
cred $4,000 Of this fund from the Ten
nessee National Bank and it was REIN
vested in go bonds, and these bonds de
pcsited in the Bank Of the Republic at
New York to the credit of the Comptroller.
This fund was drawn upon to meet por-
ton of the January interest on the State
debt How much was used for this
purpose has never been made pub
lie, nor has it been stated that
the money thus borrowed from the school
fund has been returned There are very
good grounds for surprising that it has
not been. The people of Tennessee would
like 10 know how much Of this sacred
school fund was used in paying the
interest on the State debt and they
would like to be informed whether any
portion Of this fund has been used for
any other purpose than paying the Janu-
ary interest on the State debt There
is lurking suspicion in the minds Of
men that all il not right in regard to the
little remnant of the school fund that was
rescued from the Tennessee National
Bank This school fund was handed over TO
the Comptroller or the gentleman acting
for him, and by that gentleman placed to
his credit in the Bank of the Republic
in New York Comptroller Hatchett
retired from Office few days ago, and
the public would be ~gratifed TO know
the condition Of the fund as he turned il
over to his successor But so far nothing
has uanspired to relieve the general
anxiety in regard to this matter Who
can tell how much of the school fund is
yet on deposit in the Bank of the Re-
public And has any portion Of it been
used for any other purpose than paying |
interest on the State debt
The people would also like to know
whether the proportion of the revenue |
specifically set apart Cor common school
has been set aside to be used |
as the law directs The present State
government has been in power over two |
years, and the tax-Vathers have been busy |
daring that period and have collected |
and paid into the treasury an immense |
amount Of revenue What has become |
&C the proportion Of this revenue belong
inc to the common school fund ? lfthis !
revenue has been set aside for the pur-
pose designated by law, the public would |
be gratiGed 10 know where it can he
found. The truth is that oar Radical
rulers who have had 80 much 10 say
about the sacredness of the school fund,
have never set aside a dollar Of this
revenue for school purposes That por~
bon of our laws has been a dead
letter ON the statute book The
whole Of this revenue which has heen
yntherei in during the past two years
has been swallowed up in the eVtraya
rance OF the Radical rulers Not doll |
lar has been paid out of the treasury for I
he support Of common SCHOOLS during |
hese two years, and Notwithstanding this
act. the school fund has not only not in
creased, hat has grown beautifully less.
The property holders and business men
# Tennessee have been helRily taxed dn-
ing the past two years, and not one dol
ar OF this vast revenue has gone into the
common school fund, Notwithstanding
he law makes it the imperative duty Of
he State officials to 50 dispose cf Sesy
Considerable portion Of the rsaenne ds-
dyed from taxes and privileges, Here il
! gross dereliction Of duty, and win the