The Oxford falcon. [volume] (Oxford, Miss.) 1865-18??, 1880-03-11

was passed. as follows "Secs
tion II. Ir shall be the duty
OF fhe Treasurer of the State
so keep a separate aHil dis
tinct account of all moneys
heretofore 0r hereafter paid
into the State Treasury on
account OF said Seminary
tuntl, and the tire when paid
II shall Ise bis iufy als,, i'm
mediafely after the passage
of this, Act. Il credit the said
fund with interest at the rate
of , per cent. per annum up'
on all moneys heretofore
paid into the treasury. from
the time when so paid 10 the
passage of this Act. and
thereafter be snail annually
credit said fund with interest
at the rate of s per cent. per
annum."
On 24;h February. 1871
the University WAS chartered,
a Board of Trustees appoint
eel aud the control of the
fund given to the Trustees.
For several years then the
Trustees of the University
controlled this fund and used
i;s interest for the expenses
of The University. On the
26ih January, 1877, however,
the Legislature repealed the
Act giving the Trustees con"
troll of the fund. and made an
appropriation in lieu of inter.
est. But on 25th February.
1913. an Act vas passed "fhat
the interest at 6 per cent, per
annnm upon the sum now
standing upon the books of
the Treasurer of the State,
aud upon all sums that may
hereafter be paid Into the
treasury of the State. to the
credit ot the University, shall
lie paid se;Ei anngslly TO The
Trusiees.w 1'Dis act was not
tn extend 10 amounts already
appropriated se - i ssi~-r.-s-
IS. After Ills Trhlestiie Eegv
islafurc made various and
sum'lry appropriations, in
stead of paying the interest
for The support oi the Unis.
vcrsity,
On 3 December, 1858, the
Legislature, by ioint reso.
luton. appointed Hon. 4. III.
Arthur Il Commiss ioner, To
take anil state an account be-
tween the University and the
State, and TO report how
much he State then held in
I trust for the University.
Mr., Arthur failing to report
IA similar resolution was
adopted on f0tl February,
1860. authorizing the Govern /,
or tn appoint "a Commissioner
for the same purpose, No
report seems to have been
made under either of these
resolutions, and somehow this
fund seems to have dropped
from Legislative attention uns
Ill now, your hon0rable body
has passsd a joint resolution
instructing your University
Committee 10 investigate
this fund, and to take and
state an account between the
State and the University
without delay,
May we he permitted to
express. for the Trustees. the
hope thai whatever amount
your .Ioint COMMITTEES on
Universities report to be due
the University hy the State.
npon the aecciuf being taken
aud stated. NAV be recogniz I'll
l,y the l. ,gislature in some
permanent tnrm as = debt.
and allow thrreoa snch fixed
rate of annual interest as
literally support the Univer.
sity. This would place the
University upon a more sta
bic aud permanent iinancial
basis, 90 much desired. The
/ State will not let her Univers
sity 90 down. when she las
permanently invested nearly
/ $500, 900 in bHildings and
apparatus for il tie State
/ will therefore, doubtless. keep
] il up. aud with money; does
I in, therefore, matter 10 the
State whether this money be
called appropriations or
..iuterestr-yes il matters
much TO the University to
have a certain definite and
permanent interest rather
than variable aud uncertain
appropriations. That the