The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-12-13

orable body will take such action during YOU
present session will place the bonds which
represent the fund in the custody OF the proper
State officer, or officers.
They take the liberty of suggesting further
that due deliberation be exercised in adopting q
plan for the expenditure Of the interest as 1t ac
crues. The whole Of the principal should be
kept intact.
it is recommended that commission Of three
or five citizens be appointed in such manner az
yon NAV determine. who shall examine as to the
roper location OF one or more colleges to be
conducted In the interest OF agriculture and the
mechanic arts also to plan Of organization
Said commission to have authority to receive pro.
posals for donations Of lands. buildings, OF
money, Tor the use Of the same. all Of which.
| with suggestions may be pertinent, they shall
report to the Legislature at its next regular SEES
sion.
| all Of which is respectfully submitted.
! GOVERNOR H. c. WARMoTH,
J CHIEF JUSTICE J. T. LUDELISsi.
| COMMISSIONER JOHN LYNCH.
New Orleans. March 1, 1873
The original, of which the above is a copy.
was, when submitted to the Legislature in
the hand writing Of Judge Lynche
1t is very
statement, rather too concise as It Is silent
on many points on which information would
be interesting.
1t does not state where the lands were
located, or who located them, or whether
they were located at all. 1t does not state
who purchased the scrip There is some
curiosity to know if it were not the Commits
sioners. 1t does not give the names Of the
persons from whom the State bonds were pur-
chased.
1t would have been such a neat transaction
if the Commissioners had purchased them of
themselves, and perfectly legitimate, provided
an amount not too far above their market value
was paid. 1t is pity the bonds deprecated;
but it would have been gratifying to know
just how much they had deprecated at the
time Of the report the members of the Legis-
lature were OF course familiar with the price
of bonds, and knew just the pei cent lthose
did rather that could calculate and took the
trouble to do 500
President White OF the Cornell University
succeeded in locating the lands donated to
his State SO advantageously that they were
disposed Of at 50 IN acre. Considerable diff
ference between that sum and e;ghty-seven
cents, and yet the Louisiana Commission had
the same opportunities Of locating as did
President White. The scrip was for any pub
lie lands in the United States. A charitable
inference is, that President White possessed
more wisdom and administrative ability thass
Warmoth Ludeling and Lynch combined;
yet one was a Governor, another the highest
judge in the State, and the other the most
''honest man in the country.
detailed statement OF Expenses in 1869
in efforts to procure scrip" and also one of
A." Expenses incurred in 1870 In procuring the
issue of scrip, might be entertaining The
mere setting down Of the amounts, $1,000
even, each, is rather too general way Of put
ting it. 1t is not at all methodical, and has
the appearance of rough estimate, with an
Allowance Of several hundred dollars che way
" the other and it looks bad in an aco,unt
IF the discharge Of trust in which there was
20 much money. 1t would not have BEEN out
If place to have told what scrip was delivered
n New York who delivered it, and Why it
vas delivered, or something that would give |
n idea of the necessity OF that expenditure |
# S317 81.
Some light on these points would be Of such |
public interest that we would suggest that |
he Legislature appoint committee to III uni
'ate them, and, at the same time find out
What the present Board of Commissioners of
he Model College is doings
The $780,. 900 in bonds We're funded short
inc ago. and new bonds to the amount of
1877 800 were obtained, which, if sold op the
treets to-day. would realize at the most $780,
co. The original cash principal was $780,
30 40 realized from the sale oS scrip. and if
he present principal was reduced to cash to-
ay it would be found that about Sl3Q 600
al been gotten rid Of and az for an sgri-
ultural college such as has been described,
ithout accounting fox money received as in
rest.
On the original bonds there is about ST.
)0, and the current interest on the new bonds
about $4,000 year, OF which .5ne-half Cor
le present year is due. making in all $50, 0tD.
is to gain possession o! this interest, and 20
sep the principal SO that the yearly amount
II be used for the benefit Of the board, that
lie existing parody on college is kept up
At the late sale Of city property the board
ought piece Of gsound near the Chalrette
emetery, for seven hundrea odd dollars It
very small, but tie board has hopes that ,
e State will donate IN adjoining piece, and G
at together, they will have land enough for 8
purposes. But, between the purchased ]
zee and the piece desired. there is strip '
longing to John Lynch. The matter
mentioned, incidentally. for the board can
~ Lynch's property. or mayhap he will do l
tie it to the college.
An important divine now preaching in +
.ooklyn, who is known as Rev. Geo. b. Por-