The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1878-01-30
The Eniversity Of Ss issis~f pD;.--lfs
Financial Esi>tOry and Claims
Upon The state

Financial Eai>tOry anu Claims
Upon The State.
OXFORD, Miss, January %, 1873.
Hons. W. J. Showers and r. A. Dean, House
of Representatives
GENTLEMEN-In reply to your interroga-
tories touching the University. will state,
that the financial history of the University
OF Mississippi may be found ia the Journals
of Congress of 1919, Hutcherson's Missis-
sippi Code, the Message of Governor John
J. McRae, February 6, 1856, aud the Histori-
cal Address of Rev. DR.. John n. Waddel,
former Chancellor of the University, de-
lvered June %, 1873, before the University.
From these sources it will be seen that in
accordance with an act OF Congress, passed
February 20, 1919, a township of land was
granted to the State for the purpose of
establishing a Seminary of Learning: the
Legislature held the title in trust for this
| purpose, and SO accepted it; they leased
| these lands until March, 1888, when the
Legislature passed an act providing tor the
| sale of the land, which sale was made that
| wear on one, two and three years credit. The
| notes were made payable on November l,
| 1884, 1885 and 1886, respectively. Subse-
! quently the Legislature passed IAN act for
| the collection and investment of the Semi
|
quires 1.-THE State Treasurer to credit the
| University Fund with interest at the rate of
| five per cent. per annum upon all moneys
heretofore paid into the Treasury from the
time when SO pad to the passage OF the act ;
and thereafter to credit said fund with in
terest at the rate of eight per cent. per an
mum upon all moneys due from the State to
said fund.
| Governor McRae, in his message, said :
by applying the rule laid down in this
law to the ascertainment OF the condition OF
the fund on the 1st of January, 1856, it Is
| discovered that the sum due from the State
to the University Fund, was, at that time,
$1.O7779O o. Governor Mcitae then pro-
ceeds to deduct the appropriations made
from time to time by the Legislature for
the establishment and support of the Uni
verify, computing interest upon those adj
yance8 by the same rule previously upon
the fund itself. The amount OF these appro-
priations, with interest added. computed as
above was $203, 4G5 So, which deducted from
said SLOTTED 09, left $S74,3A 40 balance
due to the University January 1st, 1856
This state Of facts was made known to the
Legislature, and whilst the Legislature fail
ed or refused to acknowledge the whole
debt, the Legislature did acknowledge a
part of it, to wit: something less than
100000 on which the State paid for some
years 81 800 90 interest annually.
Some few years ago. about 1872, | think,
Dr. l.. C. Garland then Professor in the
University made very accurate calculation
of the amount due ftOm the State to the
University, making the net amount then
! due over one million and half of dollars
after deducting ali previous appropriations
The small annual appropriations made
for the University up TO this day would 1t
near pay the interest on this debt and
consequently the present Indebtedness of the
2 State of Mississippi to her University is
nearly or quite two million dollars. This
amount the State holds as trustee only and
, in sacred trust for the University. Now it
, is question addressing itself to the wisdom
l and sound discretion of the Legislature Wha
they will do with their University and it,
= finances? Whether they will acknowledge
+ this debt and fund it in long bonds bearing
small interest for the support of the Uni
versity, or whether they will cripple the
University, impair its usefulness and shear
+ it of its glory by making too small an ap
preparation, or whether they will ''split thu
!, difference" and make proper appropra
ton.
In case an appropriation is determines
: upon the authorities of the University hav,
Z already informed you through the Chan
i cellOr, General Stewart, that thirty Thousand
! dollars for current expenses tor the presen
year and fifteen thousand dollars for repair
l and improvements are absolutely necessary
This amount may seem large to some, espec
tally when we consider the poverty of ou
people and the proper spirit of retrench
: ment aud reform that pervadcs and shoulC
pervade the present Legislature.
But is there not danger of curtailing ex
penditures at the wreng place and at the
, wrong time?
By examining the annual appropriation
for other years it will be found that the
University has received for some wear;
equally as large an appropriation as is now
asked for current expenses, and that in 1877:
even $4,000 were appropriated In those
in attendance and therefore did not
have so many professors as now
g then the buildings were newer ano
did not require the same repairing as now
then the University had other financial re-
e sources which she has not now. She has
lost some OF her resources. the number Of
L students have increased, consequently he,
2 expenses have increased There have been
but few repairs and no buildings since the
war. Painting, plastering and repairing
and recovering of roofs must be done. s
suitable ChancellOr's residence ought to be
built and by some it is thought that Hos
} pital ought to be established for the Uni
2 versity. The constantly increasing mum
4 bers of the students will render it neces-
ssry to provide more rooms for their
lodging; hence, it is believed that a.
2 least $4,000 ought to be appropri
! ated for repairs and improvements: and
past experience of the Institution de-
2 monstates that $4,000 for current expenses
is too small. Then there has been but little
addition of late to the Library, and but little
expended for apparatus. etc., for the Labor
atory and Observatory. So it is thought
that an appropriation this year, (even con
sidering the stringency of the times.) OF
! 81 800 would be very moderate indeed.
t But if we compare these figures with the
annual income OF some other institutions if
will seem small.
The University of California receives an
nually an appropriation from that State OF
5 $4,000 90, and it received in the session OF
1 1912 an appropriation of 100000 for build
ing purposes alone.
= Cornell University has about 500. OOOanual
income. Harvard University has an annual
income of about 100000. The UNIVERSITY
of Mississippi only asks for a little more
| thsn nna-tenth this latter Snn nrh -. II =