Nebraska advertiser., 1870-12-08
THE SCHOOL FUND.

Ne are glad to see that this gucs-
ton i being very generally discussed
10y the press throughout the State, and
that the greater number Of the papers
thus far favor plan, i'm the main,
agreeing with the idea suggested by
the AIrcrfiScr a few weeks since: that
is that the fund TO be put out at inter
cst should remain I'm the counties
whcIe il originated. We think if this
plan il found to meet the views of a
majority of the members of the com
ing Legislature there will be 10 diff
Guilty in arriving at details that will
make the fund safe, and give entire
satisfaction.
On the question of accepting real
estate as security for loans, We are the
more convinced of the superiority of
that mode over even United States or
State Bonds. The basis of all first
class evidences of Indebtedness is and
always has been real estate. AS We
have before said, the first object in
any mode is to make the fund safe.
TO this end We suggest the enactment
OF law that will make the county re-
sponsible for the fund make the
County Commissioners custOdiaRs
loan only on unimcumbered real es-
tate-improvementso of no kind to be
taken into consideration require
lands twice the amount In value to the
sum loaned and make Il failure to COM
ply with law on the part of an officer
"a penal ofiense.
The Nemaha Valley Journal sub
mits the following plan, which we
endorse, particularly that feature
giving School Districts the prefer
ence of The loan for the purpose of
building school houses"
The School Fund TO be distributed
to the different counties from which
the fund is received. To render the
fund safe, make each county respon-
sible to the tate for both principal
and interest, and let the county make
the custodians ot the fund whether
il be the County Treasurer, the COun-
~ Superintendent or the COmmiss-
ionersJ, responsible to the county.
Give school districts the preference
of the loan for the purpose of build
ing school houses, but limit the
amount either to a certain per cent. of
the value of the completed building
or the taxable property Of the district,
authorizing the levy of n tax TO meet
the interest and principal when due.
For any portion of The fund not taken
10y school districts authorize custOdi-
ans to lend it to individuals upon un-
incumbrred real estate, in amounts
not to exceed twenty-five per cent. of
the value of said property, perishable
Improvements SECLUDED, and not to
exceed in any case five hundred dol
lars to any one individual. Put the
rate of interest and time of loan upon
such terms rs To cause the fund to be
sought after. and To be constantly en-
ploycd. Ii is claimed that this plan
is safe 50 long as the counties are SOL
vent; that il will insure a higher rate
of interest than that borne by United
States or State Bonds; that the secur-
itieS cannot fiuctuate in value; that
il will stimulate the industry of the
entire country by distributing the
fund among the people, and finally
that the principal as well as the inter
est would thus he employed i'm pro-
moting education, by supplying the
means Ia build school houses in dis
tricts unable at present to bnild with
out aid"
The people in every school district
in this State ought to meet and dis
cuss this question. Let your Senators
and Representatives know what you
want. We are tired of hearing MEM
bers of the Legislature, when ques-
tions of such importance rs the School
law and Herd law come up for con-
sideration, give as an excuse for non
attention that they do not know how
their constituents feel or what they
want.