The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1872-02-29

conversion into bonds payable in ten years.
With interest at eight per cent
"A bill TO provide for funding warrants
was introduced and passed in the Senate:
TWAS sent to the House, and although
manifestly popular, for heard no objec-
ti0n- it failed TO receive that attention in
the House which its i'm portance demanded.
By inattention the bill was lost but lost
under circumstances that left the country
under the belief that IL had passed. Such
was my own opinion for several days after
the Legislature had adjourned.
The failure of this bill deprived me OF
the power to invest in the way most advan-
tageous to the fund-the way l had chosen.
IL is true that was LETT free TO purchase and
convert Certificates of Indebtedness, but
these having been monopoliZed by bankers
and brokers, were held at rates much above
the warrants; besides, held as Governor,
IS now hold as taxpayer, that the inter-
ests of the State demanded that these certifi-
Gates, made, as they in my judgment should
be, receivable for State and county dues,
should be kept in circulation. To await ac-
ton on the part of present Legislature that
law might be passed special to this fund,
was a suggestion of my judgment so mani
testify proper as TO preclude doubt OF its cor
rectness.
Besides this, the "Alcorn University" to
which three fifths of the fund had been ap-
prOprited, had not yet been located; to
purchase a site without money, or rather
with State warrants, could only be done at
rates so ruinous as to exhaust the fund pro-
vided for the support of the school In its
working necessities. The white boys of the
State had entered upon the benefits of free
demanded that like opportunities should be
afforded, without further delay, to the col
ored boys of the State.
Under the act of Congress making the APP
preparation, one-tenth of the proceeds Of the
land scrip was authorized to be invested in
land for the purposes of the Agricultural
College or Colleges. The total sum of the
scrip sale being $4,000, would give $lS,900
which, by the terms of the grant, could be
invested in land. The University at Oxford
holds, in its own right. section OF land.
Her wants in this behalf are supplied. The
whole sum subject to this character OF in
vestment was proper to be applied TO the
purchase of land for the use of the "Alcorn
University" The Trustees of the latter
University proposed to the Trustees of
Oakland College, in this State, the purchase
of that entire property, well adapted as IL
was to their wants. The purchase was de-
sirable-I might say. almost indispensable.
The proposition was made, it is proper to
say, at my suggestion, and was favOrably
received by the representatives of Oakland.
1t was in this proposition agreed that thirty
Thousand dollars I'm cash should be paid on
the purchase out Ofthe Agricultural College
fund.
On account of the prevalence of yellow
fever the negotiation was from time TO
time delayed, and was not consummated
until after l had retired from the office of
Governor of the State.
My purpose was to require the Trustees
of Alcorn University, on the contamination
of this purchase, to deposit with me the sum
of eleven thousand one hundred dollars in
State warrants, which proposed to receive
ut par to be funded in bonds for the reim-
bursement of the agricultural fund, and to
charge up that University with the $lS,900.
This arrangement was absolutely necessary,
as concurred to the organization of the
University on footing equal to its working
necessities, this would In no way effect the
amount appropriated to Oxford.
1t is proper that l should add that the
contract with Mr.. Lewis is on file at Wash
ington City; it was necessary in the obtain
ment of the scrip to place it before the Sec
rotary of the Interior. / preserved copy
in the Governors office; this was trans
mitted with some papers which had di-
rected to be sent to me at Washington about
the first of January. l did not intend it TO
be sent. | will return the original as soon
as | reach Washington; my absence from
that city has been the occasion of the delay
in this report.
The Legislature appropriated five hun
dred dollars in State warrants TO cover the
expenses of this transaction. About three
hundred and seventy-five dollars of the APP
preparation have been consumed; the ex-
cess propose to return to the Treasury of
the State, with report of my expense.
Very respectfully submitted,
j. J.. ALCoRN,
Ex-Governor OF Mississippi.
jackson, Miss, Feb. l9, 1872.