, 1875-07-24

may be Of general interest to Members, give some
information on the subject. There are 10 all
s separate Funds in existence. First, the 500
called =" Wandborg Legacy y; this has it's origin
from q legacy left by q soldier in 1903, who
by his will set aside a smalI capital, the interest
of which was to be applied for the purpose
Of providing SOM convenienccs for sick mill
sary at the hospitals. The interest was so
small, that it appears it could not be applied
for any purpose, until in 1853, it had by accu.
mutation of interest increased, aud when on the
proposal of the Military Surgeon in Christian
sted it was resolved, that ia future the interest
should b, applied to provids sick military Ger.
tain comforts such as tobacco, etc. At preseps
this fund possesses u capital of SI400. so, which
ismostly Invested in l.uded property.-Then
comes the MILITARY Alasc Chest" which was
established by a Royal Resolution of 5th o..
tober 1880, purity through a yearly allowances
fS13S . a. from the Safe Treasury, partly
through a certain portion Of the Fort-Fees COL
lected in the tw1 Islands. The object Off 10
to contribute towards the maintenance of music
baads in th9 military force, and this object has
rec ,ived additional sanction by a Royal Reso.
luton of 18th November 1852. A portion Of the
~f3rt-fees being always collected at St. Thomas,
the Government in 1871 decided that the rev.
enue of the Music Chest shall be appropriated
also to that Municipality in equal proportion.
j u6 CApltbI pOSS0SSeu Wy thlb L uuu III L Va
March 1873 amounted % $6S5I.4l.-Next tho
School FwAd " A complete statement Of
this Fund AMI its change into the New School
Fund, is contained 10 the printed Proceedings Of
the Colonial Council for 1S62-63 Up. CXVII y.
where the matter was introduced during the
discussions on the Draft Of the Colonial Law.
TIE former fund had existed for a long time,
until by a Royal Resolution of 9th June 1929
the changa was effected, by which the fund
was drawn into the State Treasury, which as.
slmed oil the expenses for schools, but the now
Fund got certain buildings which were after.
wards converted into capital. The expenses
for schools have in TINA come to exceed the
interest gained from the capital Of the Fund,
which was but INSULT oiently secured, and on the
whole the State Treasury has spent more than
it received from the change. The Colonial
Treasury having now stepped in tho Statetrea-
sury's place and defrayjng all the school-expen-
ses, the interest must continue 10 accrue to the
Colonial Treasury. The capital invested 3lst
March 1874 was $3466. l6.-The Ram Fund
is also established by Law. The Council is we'll
aware that that part Of the Rum shop tax which
does not accrue to the Colonial Treasury forms
8 fund from which pensions are betrayed to per-
sous not CO ming under the head of paupers, aud
this will be still frmer fixed by the new Ordi.
nance on Rumshops by which it is proposed
to apply the whole of the tax to The Rum
fund. Finally: The Fund for the Education
of Young Men to become TeacAers". This was
established in 1925 by subscription. It proved
afterwards that the fund did not answer the
purpose, viz: that the interest should be ap.
piled for sending young men to Denmark
for education for the purpose of afterwards be-
coming teachers Of the youth in St. Croix, il
was therefore decided by a Resolution of
the Royal Danish Chancery in ls43, that
the interest should be applied towards schools
in town The capital is invested, and as
long as the nandtreasury existed the inter-
est was paid every year from the Statetreasury
to the Landtreasury. until they we're united
into the Colonial Treasury, which now de.
trays all the expenses of the schools, and
therefore quite rightly receives the interest Of
the capital.-There is no proposal for ~alteriug
the existing system in regard to these funds ;
but he would beg at once to remark, that if
the capitals of those several funds we're to be
drawn into the Treasury, they would have TO
be Withdrawn from the owners of the properties
in which they are invested. There is one
Fund more, which is certainly Of a different
nature from the others, viz. the Militia Fund,
resulting from the sale Of old Militia guns.
This capital had been set aside for the purpose Of
buying muskets when required again for Mill.
tia purposes; but he could not see the proprie.
ty of this arrangement, as the expense for new
muskets ought to be betrayed by the Colonial
Treasury among its other expenses. and the