Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-02-18
THE SCHOOL FUND.


securities deposited in the
Fourth National Bank of
New York, $4,000 90
Twenty.three 6 per cent. State
bonds of $1,000 each, re.
ceived from Bank of Tennes.
see, and nov in Comptrol-
ler's safe, $4,000 90
Total, 1851, $40 90
The amount oftsx on property and polls,
privileges and bonuses for the year 1867
and 1865 and interest due on school
moneys, is as follows:
Taxes on property, polls, priv.
leges and bonuses for the
year 1867, $4,000 90
Taxes on property and polls,
privileges and bonuses for
the year 1868, as estimated
by the Comptroller, 100000 90
Interest on school fund deposit
ted in New York 10 Bank
of Republic, the amount be-
ing, s288,6 go 90, 1883 70
Interest coupons in Treasur-
er's hands belonging to the
school fund, and unpaid, 1926 90
Interest coupons in Comp
troller's hands belonging to
school fund, andunpaid, 1925 90
Interest coupons on $50, 600 90
7-30 bonds in Fourth Ma.
tional Bank, New York, 9,125 90
Interest coupons on twenty
three State bonds in Comp
troller's safe, from Jan. lat,
1861, to Jan. Let, 1869, 1l,040 90
Interest on school money used
to pay interest on State bonds
in New York, 41,6O6 SO
Total, $947,117 46
This amount of $947,l III 46 is due and
is to be distributed to the several counties
| of the State. The scholastic population of
the State as reported to the Office of the
Superintendent Of Public Instruction is
| 100000, and the above amount to be dis.
tributed will give TO each child of schol-
astic age the amount of 50 81.
Your committee have carefully exam
| ined the books and vouchers of the Super
inteDdent Of Public Instruction, and COM
| pared the same with the accounts kept by
the Comptroller, and found them correct,
and the following exhibits the special
items of the expenditures for school pur-
poses from Oct. z, 1867, to Jan. 26, 1869:
DISBURSEMENTS TO SCHOOLS.
To districts for payment of
teachers s1O2690 IS
For books for children whose
| parents are unable to pay for
same Is 40
County superintendent sala-
ries, 14lO4 90
State superintendent salary
one year and three months, 5000 90
EXPENSES OF THE STATE sUPERIETEND
ENT's OFFICE.
To Press and Times for print
ing circulars, letter.hesds,
blanks, vouchers for drawing
school money, etc, 1904 55
To journal, ledger, postage
stamps and office seal, 326 %
To document cases and book
case for Office 245 90
Grand total of all disburse-
ments, Sl2I 1894 0S
Leaving of the S173,O78 "a undrawn
balance Of $5l, 1S4 &c.
The method of the payment of the school
money has been by the Superintendent of
Public Instruction drawing his special or
| der on the Comptroller to be paid to the
party entitled to it by law, who therefore
has drawn his warrant upon the Treasurer.
The books OF both the Office of Comptrol-
Ter and Superintendent of Public Instruc-
ton exhibit this order of paying out the
school money.
In view Of the character and condition of
the principal of the school fund, We recon-
mend that the following items representing
that fund, be placed in the hands of the
| Comptroller, and by him collected and
placed on bis books to the credit of school
fund account, the interest of which shall be
paid annually on the first day Of July of
each year, on the order Of the Common
School Commissioner on the Comptroller,
who shall thereupon issue his warrant for
the same on the Treasurer.
Coupons of State bonds in Treasur's
Office taken up by school money deposited
in New York, S28S, $40 90. Twenty-three
bonds ofthe State of Tennessee, in his Of
fee, $23, 900 90. And they also recon-
mend that the school fund known as the
seven-thirties, amounting to $4,000, now in
the First National Bank in the city Of New
York, be sold by the Comptroller and by
him invested in the six per cent. bonds of
the State of Tennessee, and when so in
vesten the Comptroller shall cancel said
bonds and place the amount thereof to the
credit of the common school fund, the in
terest of which is TO be paid as before
stated.
Your committee herewith report joint
resolution, comforting upon the ComptIol-
Ter the authority TO take up and cancel all
the above items, forming the principal of
the common school fund.
All of which is respectfully submitted,
w. J. SMITH, Chm S. c.
VIM. WYATT.
J. NJ. HAMMER, Chm H. C.
w. Bosom,
THOMAS A. SMITH.
A communication from the Superinten-
dent Of Public Instruction accompanied |
the above report.