The New York herald., 1869-01-08

SCHOOL FUND.


Schedule III. annexed to this report shows the
capital OF the School Fund and how invested,
together with the receipts and disbursements OF the
revenue for the year and the estimated revenue TOT
the current year, and schedule w. shows the In
crease and dimnution Of the fund for the year In
The constitution article nine declares that SIS Of
the revenues Of the United States Deposit Fund shall
each year be appropriated TO- and made part OF the
mon school fund shall be preserved invioate, ana
that the revenues Of the same shall be applied to the
support Of common schools"
AT the last session OF the Legislature s15500o OF
the revenue from this fund was appropriated to
common schools ss4 ooo to the normal anu tra1nihg
tion bill. The additional sum OF $4,000 was appro-
priated to normal schools from the same fund by the
.'Supply BILL" Eight normal schools are provided
for and will soon be IN operation and the average
expense OF each may be safely estimated at from
are legltimateiy made for this object from the
Common School Fund and are to be continued, rom
s1i40o to 100000 will be diverted annually rom
II these appropriations are proper, why the
entire income OF the fund may not be exhausted In
the common schoois.n When the State Normal
School was established In 1914, which is the model
Of those recently established In other parts 3f the
State, 1t was regarded as properly to be classed
among the academies, and the appropriations for It's
support made payable from the Literature Fund.-
which by the constitution is devoted to the support
OF academies -
1t Is believed that the first appropriation for the
o. heo Is from ron ne ass @
amounts appropriated from this fund to the support
OF normal schools nave been improperly diverted,
they should be restored by the Legislature.
COLLEGE LAND SCRIP FUND AND CORNELL ENDOw-
MENT FUND.
Both the college Land Scrip Fund" ana tne
s'Corneli Endowment Fund, are the fruits OF the
sale TO Mr.. Cornell of the College Land Scrip DO
stance Of the act of Congress- approved July 2 isea
The following table shows the condition OF this
fund on the 30th OF september, 1867
Represented by
Bonds OF Mr.. Cornell l.................... 179,6o0
State stocks. 174,0o0
United States stocks. ACKNOWLEDGEMENTS. 10000
Money In the treasury. ACKNOWLEDGEMENTS. 4,0S3
Since the close Of the scal year the money then in
the treasury with the exception of q small amount
uninvested has been invested, part In the stocks
OF the state and the remainder In the stocks OF the
Therevenue was as follows:-
Balance in the treasury September 30 1867. $751;
Received during the year.. 1l,603
Total. $26, S04
Paid from the treasury ry.................... H.5S4
Balance in the treasury September 3O 1868 $12 2so
The balance has since the close OF the fiscal year,
N nnrsnance or the snnronrstion mada nv
$50 OF the laws Of 1885. On the soth OF september
1ses, the capital Of the cornell Endowment Fund"
was $97,200 and was in the treasury. Since the
close Of the year. with the exception Of small sum
still remaining In the treasury it has been invested
part in State stocks and the remainder In United
States stocks. Since the last annual report OF the
Comptroller there has been sold OF the scrip, by Mr.
C0rnell, Win rHe approval OF the COmpCrOller, l,15U
pieces, representing 1000 OF land, for the
aggregate sum OF s270.00o or which s25s000, tn
cluding $4,000 represented by United States $40
Treasury notes. has been paid into the treasury and
constitutes the increase OF the capital Of the two
funds named. For the balance OF the purchase
money transfer OF land scrip for lands donated by
the United States to the State Of North Carolina,
representing 10000 acres. taken in lieu OF mo-
ney at the rate OF $40 per acre. and Is now held by
the Comptrollerupon the same trusts the original
scrip.
RECEIPTS AND EXPENDITURES.
on account OF all the funds, except the Canal and
Free school funds, for the fiscal year ending Septem
ber 30, 1868, were as f0llows:-
Receipts SIG, ,003 ITS
Payments. 15,354,657