The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-01-06

van ii. MANNING upon the terms OF the
employment. Mr.. Manning has conducted
the suit TO a successful termination, the
supreme court Of tae United States hold
ing that the sum due this and other States
similarly situated could not be held and
appropriated as credit on the war tax be-
fore mentioned. lhpye received within
the past week on kctount Of this fund
81, 1888 y, less 10 pr ONT attorneys fees,
leaving net 81, 00I, which | paid into the
treasury, as per receipts Nos. 1,473 and
1874. am informed by the attorney that
the balance will notprobably be paid until
recommended by the treasury department
and embraced in tie annual deficiency bill
OF the present Congress.
During the years 1867, the commits
sioner OF
SWAMP LANDS
has sold l0.434 acres at 81 per acre, and
paid the same into the treasury. There is
now for sale 24S, $40 acres.
There has been sold In the years Of
1867, OF internal improvement land, g.
OH acres at 80 cents per acre, leaving still
on tho market, 12,4S3 acres. The report
OF the swamp land commissioner will be
furnished you during the session. CIV
ing detailed statement OF its operations.
learn upon inquiry, that during the
past two years only 1854 acres OF the Chick
asaw school lands have been sold. The
price now fixed is 80 per acre. again in
vite your attention 10 the propriety OF re-
ducing the price OF these lands, and trans
fer them 10 the Office OF the swamp land
commissioner for sale. This recommends
ton has been heretofore made by both my
worthy predecessor and myself.
Touching the cancellation OF certain en-
tries OF swamp lands, submit the follow
ing letter from the Encouragement which
explains itself, and in my judgment, prop
erly interprets the law:
"sTATr or Mississippi,
ATTORNEY GENERALS OrRtcR,
JACKSON, Sept 20, 1887
ITO Ills EIoellency the Governor
Referring TO the act Of the Legislature
entitled An act TO provide for cancclling
certain entries Of swamp lands in this State,
and for other purposes, approved July
10, 1887, have TO say do not think the
same can be executed according 10 its
tenor without additional legislation. II Is
a notorious fact, about which | have suf-
ticiently satisfied myself, that frauds were
practiced in numerous instances In these
entries, especially in the year 1881, in this
manner According TO the letter and the
manifest policy OF the law then in force in
relation TO the entry OF these lands, no one
applicant could purchase from H., State a
greater quantity than 240 acres; but this
Limitation seems TO have been evaded by
numerous persons, who procured entries
10 be made Of tracts OF 240 acres in the
names Of different individuals (who lent
the use OF their names), who would inn
mediately make conveynnccs 10 the real
purchasers Entries Of State lands made
in this manner would be readily cancelled
in the cbanccry courts upon the suit OF the
State in all cases where the rights OF inno-
cent third parties mny not have INTERVIEWED;
but II seems 10 be,well settled that bills OF
this kind cannot lie maintained except
upon tender back OF the consideration
which the State has received. True, there
are reported cases Of cancellation Of patents
fpudulcntly obtained from the United
States without tender back OF the money
received, but these were maintained be-
cause Of an act Of Congress confiscating
moneys 30 paid In. Because the recent
act makes no appropriation 10 refund the
money paid in on these fraudulent entries,
! am Of tile opinion that nothing can be
done toward their cancellation. All OF
which is respectfully submitted.
y 'T. NJ. MILLER"
j again feel called upon TO invite the at
tention OF the Legislature TO the State in
dcbtednoss 10 lad. .,
THE cnIcKAsAw SCHOOL FUND,
and to say that in my message Of 1886
gave full history OF this fund and It's
present status, with reference 10 all laws
having relation 10 II. | refer you that
message, which will be found ON page g
IL will be seen that this il fund held in
trust by the state, the interest Of which is
paid semi-annually 10 the Chickasaw coun-
ties. The principal OF this fund, upon
which per cent. interest Is paid by tho
state, II SSl6,0l5 II, the annual interest
being eos, 800 IS.
Your attention Il called 10 the fact that
the State has already paid in interest
nearly or quite 81 ,5OO,OOO.
This trust fund II called and designated
non.payable debt, but II should he UNI
dcntood that II Is u large Understanding
debt II must be remembered that 8 per
cent interest today on given sum has
greater purchasing capacity than per
cent. had In 1897, twenty years ago. -Four
per cent United States bonds ore worth a
large premium; ~ per cent. bonds are
commanding premium. Mississippi
bonds are IA good M either Of those mem
toned, though no, held at 10 great pre-
MUM. The u per cent bonds have been,
and are now. selling, as / learn, NJ III. II
being trust fund, the State can either pay
/ the debt aud invest the amount in salts
factory securities, or reduce the interest 20
such rate M would be equitable and Just.
/ The ChickaSaw counties, 10 whom this in
tercst Is scmi-annually distributed, arc en-
/ titled 90 whatever rate OF interest this
money will bring. and no more. To the
State Il Is certainly not worth more than 4
or . per cent, for the simple reason that
the State, by the issuance Of bonds, paya.
BILE In twenty or thirty years, can raise the
funds 10 pay the principal II the rate u
reduced 10 4 per cent, the annual saving
would be Si3,G6i G2 or D per cent, 81,
i9S ~. IL Il possible that the wisdom oI
legislation that will save the people from
5000 10 $4,000 per annum will not be
approved by those who bear the burdens
81 government Money Is very much
cheaper than u was thirty years ago. and
lis purchasing capacity proportionaiely
greater than u was In 1856 or 1857. Al
most every State has awaited itself Of the
chcapncS Of money, and thereby, 10 the
extent Of its obligation. reduced interest.
thus lcscning the burdens Of those who
support the government
The Governor Of Connecticut, In bis NJ
cent message, recommended that bond,
amounting TO something over $1,000, 600
due In 1877, drawing per cent interest,
but rcdccmablc nj The pleasure Of the
State, after the lst Of last MAY, should bs