The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1888-05-03
THE CLEMSON BEOUEsT.

"A correction OF Alleged EXaggerations
About the Money Left to the AgrIcuItur-
al College.
TO the Editor of the News and Courier:
L see SO many false statements, miscon-
ceptlOns and ridiculous exaggerations in
the public papers about the will of my
father-in~law, the late Mr.. Thomas G..
Clemson, as to the amount of property
belonging to his estate, the terms of his
will, and the amount that would acruo
to the State of South Carolina for the
purpose of founding an agricultural col
lege, should Mr.. Clemsons will be valid
and the bequest accepted by the State,
that am impelled to make plain and
far as my knowledge extends.
In justice to myself, to my fa.her-in-
law, MIR. Clemson, and as both father
and guardian of my daughter, who is
the granddaughter and only surviving
descendant and natural heir of Mr.. and
Mrs. Clemson, and the great grand
daughter of the late Hon. John G.. Cal
houn, L am induced to take this course,
for the reason that frequent inquiries are
made OF me by numerous friends of my
daughter and her ancestors in South
Carolina, by some of the relatives Of
Mr.. Clemson, who live out of this State,
and by friends and acquaintances of my
own.
Most of the information, which [ here
endcaVor to 6 i've as correctly as [ can,
was derived from Mr.. II. W. Simpson,
who has had charge Of Mr.. Clemson's
affairs as his attorney and legal adviser
for several years past, and who is ap-
pointed by his will his executor and
trustee, and OF whom he speaks in the
will in the highest terms as his "trusted
friend and adviser" If tho will is not
contested by me, as the guardian of my
daughter, there would be loft for the
purpose of founding an agricultural col
lege in the State of South Carolina
probably as follows:
-, The Fort Hill estate, S25 acres or
thereabouts, the farming value of it
about $4,000.
MIR. Simpson informed mo that the
personal property, consisting of stocks,
bonds and mortgages aud other accuri-
| ties III his hands, was about S27, 600.
From this sum take the legacies, pay
| able in cash, $4,000, and it leaves
1000. Mr.. Simpson, tho executor and
trustee under the will, is allowed 5 per
cent. on the whole amount of the estate
by the will, and nlso, / am told, 5 pnr
cent. by law, making in oil 10 per cent.
commissions on the whole property.
This would amount to say $4,000. De-
duct that from the cash assets left of
50, 600 and it leaves $5, 600. Then deduct
lawyers bills, expenses of keeping up
tho house and many other necessary ex-
pensos, and / think most people will
agree with mo- in thinking that there will
not be much left on which to found an
agricultural college except the 925 acres
of tho Fort Hill plantation, with few
dilapidated and partly ruinous buildings.
But, even yaluing the remainder Of
the estate at $l5, 900, an extremely high
estsmate, the interest on this sum of
money 81 7 per cent. would be 81 ,05O.
Not very muniiicent sums these to
found O great State in Institution, and GER
tainly the most incorruptiblo and
economical statesmen could not reason
ably object to the income of the estate,
81 1850, being divided into salaries and
paid over to the president, professors
and few practical farmers who would
also be necessary to carry on the insti-
tuition. ..........
In most Of tho noted colleges in the
United States the presidents get at least
eight OF ton thousand dollars per annum,
and the professc g from. three to. five
Thousand. Sill, some patriotic states
men night be found to serve their State
from the purest motives, without money
and without price.
In thst ""s3, I would suggest that the
possible income of the estate should be
expended in providing hominy and milk
to feed the furnishing wives and families
of the president and professors. The
students, Of course, could take their own
meals from home with them, and thus
would greatly diminish the expenses of
the institution.
If by public clamor and ridiculously
exaggerated statements in the papers the
Legislature thinking and believing that
Mr.. Clemson's bequest to tho State
amounts to 100000, as have seen it