The original of this book is in the Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924073919205 Production Note Cornell University Library produced this volume to replace the irreparably deteriorated original . It was scanned using Xerox software and equipment at 600 dots per inch resolution and compressed prior to storage using ITU Group 4 compression. The digital data were used to create Cornell ' s replacement volume on paper that meets the ANSI Standard Z3 9. 48 -1992. The production of this volume was supported by the National Endowment for the Humanities . Digital file copyright by Cornell University Library 1995. Scanned as part of the A. R. Mann Library project to preserve and enhance access to the Core Historical Literature of the Agricultural Sciences. Titles included in this collection are listed in the volumes published by the Cornell University Press- in the series THE LITERATURE OF THE AGRICULTURAL SCIENCES, 1991-1996, Wallace C. Olsen, series editor. iSeto gorfe Hate CoUes^ ot Agriculture 3t Cornell HSlnibztsit^ iltbaca. M- S- "^ihxaxp HISTORY OF THE Agricultural College Land Grant JULV 2, 1862, TOGETHER WITH A Statement of the Condition of the Fund, DERIVED THEREFROM AS IT NOW EXISTS IN EACH STATE IN THE UNION. ITHACA, N. Y. PRESS OF THE JOURNAL JOB PRINTING HOUSE. 1890. HISTORY OF THE Agricultural College Land Grant OF JULY 2, 1862, TOGETHER WITH A STATEMENT OF THE CONDITION OP THE FUND, DERIVED THEREFROM AS IT NOW EXISTS IN EACH STATE IN THE UNION. ITHACA, N. Y. : JOURNAI, BOOK AND COMMERCIAL PRINTING HOUSE. 1890. INTRODUCTORY NOTE. On the 12th day of September, 1889, there was mailed to the Treasurer of each State in the Union a circular letter of which the following is a copy : LAW OFFICES OF HALLIDAY & FINCH, 22 East State Street, Ithaca, N. Y. Sept. i2th, 1889. To THE Treasurer of the State of Dear Sir. — In 1862, the Congress of the United States passed an Act ; " Donating public lands to the sevieral states and territor- ies which may provide Colleges for the benefit of Agriculture and Mechanic Arts," and apportioning to each State public lands or land scrip equal to thirty thousand acres for each Senator and rep- resentative in Congress. The State of New York made Cornell University, at Ithaca, N. Y., the sole beneficiary of the fund derived by it from the said lands or land scrip. There is now pending between Cornell University and the State of New York, an entirely friendly action, in which both sides ask for a judicial construction of many provisions of said Act of Congress, and a determination of the obligations and relations of the State to the said fund. It is deemed desirable to ascertain as far as possible what has been the actual practice in the various States ^nd Territories in IV regard to the management of said Agricultural Land Scrip Fund. As everj' State will be interested in the decision in the above case, we venture to make the following inquiries in regard to the man- agement and condition of the fund iu your State : First — Has there been any Judicial determination or construc- tion of said Act of Congress in your State? If so, can you inform us where the decision is reported, and as to its general nature ? Second — What institution is the beneficiary in your state ? Third — Does your State pay to the said beneficiary the full 5 per cent, income contemplated by said Act of Congress, whether the fund actually earns 5 per cent, or not ? Fourth — Does your •State pay out of its general funds all the "Expenses of the management, superintendence, &c.," of said fund, such as commissions, premiums on securities, &c. ; or are these expenses taken from the actual income of the fund, and the balance of said income only turned over to the beneficiary ? Fifth — Briefly and in general terms, please give us the nature of the securities in which the fund is invested. Sixth — Has the State ever parted with the custody of any of the principal of said fund ; or intrusted its management to the beneficiary, or to any other person for the beneficiary ? Seventh — What is the amount of the principal fund in your State ? If you, as Treasurer of your State, are not the proper person to furnish the above information, will you kindly see that this communication is handed to the proper officer or department ? An early answer is much desired. Very truly yours, HALLIDAY & FINCH, Att'ys for Cornell University, Ithaca, N. Y. Answers have been received from all the States. Most of them have been received from the various Departments having charge of the fund, and may V therefore be considered as official. The others came from sources that are undoubtedly reliable. These communications have already served the purpose for which they were obtained, as indicated in the above circular, but it has been decided that they contain in- formation of such historical interest and importance as to justify their publication in full. They will be found in the following pages indexed under the names of the respective States. These communica- tions contain a complete history of the Agricultural College Land Grant Fund, created by the Congres- sional Act of July 2nd, 1862, and show the amount of the fund, the nature of the securities in which in- vested, the rate of interest realized, the system of management, the name of the beneficiaries and the general status of the fund as it now exists in each State in the Union. - To make this volume more complete in itself, the Congressional Act referred to above is also printed. It appears .by that Act that each State had to, and by accepting the fund, did, assume certain bur- dens and responsibilities in regard thereto, one of which was (Sec. 5) that : "If any portion of the fund invested as provided by the foregoing section, or any portion of the interest thereon, shall, by any action or contingency be dimijtished or lost^ it shall be replaced by the State to which it belongs, so that the capital of the fund shall remain forever undiminished. " VI The Act also provided (Sec. 4) that : ' ' All moneys derived from the sale of said land and Land Scrip should be invested in safe stocks of the United States or of the States, or some other safe stocks yielding not less than five per centum upon the par value of said stocks. " Also (Sec. 3) : "That all expenses incurred in the man- agement and disbursement of the moneys which may be received therefrom shall be paid by the States to which they may be- long out of the treasury, of said State. " The New York Court of Appeals has decided in the case referred to in the foregoing circular {The People ex Rel. Cornell University v. Davenport^ 28 New York State Reporter^ yg6) that premiums neces- sarily paid in investing funds in the prescribed class of securities must be paid by the State, and not out of the fund itself or its income. At the time the various States accepted this grant and assumed these burdens, it was not difl&cult to find "safe stocks yielding not less than five per centum upon their par value, " without paying any premium therefor. Stich "safe stocks" can still be obtained, but at a very large expense for premiums. Assuming that such stock can be purchased, these provisions amount to a practical guaranty of a per- VII manent income of at least five per centum upon this fund in every State in the Union. See also Matter of McGraw^ iii N. Y. pps. 114 115, 129. In view of these obligations, it becomes a mat- ter of practical importance to note how each State has invested this fund. Many of the States have already turned these funds into their respective treasuries, and have issued to their respective beneficiaries their obligations in various forms, in which they agree to pay a fixed rate of interest varying in amount, but never less than five per cent, on the principal of the fund. Such has been the treatment of this fund, and the rate of interest paid in the following states, namely : Maine, 5 per ce New Hampshire 6 " Indiana, 5 Vermont, 6 Louisiana, " Pennsylvania, 6 North Carolina, 6 South Carolina, 6 " Ohio, 6 Missouri and Wisconsin (in part) invested these funds in " Certificates of Indebtedness, " issued by the State, in which, in Missouri, five per cent, is reg- VIII ularly paid, and in Wisconsin, six per cent. Mich- igan also used this fund, and the evidence of the State's indebtedness consists simplj^ in an open book account on which the State pays six per cent. Geor- gia, it appears, treated this fund in the same way and also pays seven per cent. Maine adopted this plan of investment as late as June ist, 1889, and the other States at varying earlier dates. All these were in fact investments in '■'' State Stocks'''' as provided for in the Congressional Act. The States thus investing the fund save them- selves from the expenses and burdens of manage- ment and also from any responsibilities or liability to restore any portion of the principal or interest which may be lost in consequence of unfortunate or un- wise investments or by any other "action or con- tingency. " Alabama, Tennessee, Mississippi, Virginia, Ken- tucky, Florida, Nevada (in part), Maryland (in part), New Jersey and Delaware have accomplished practi- cally the same result by investing this fund in their own state bonds. Whether these bonds had been previously issued for other purposes, or were issued especially for this purpose does not always clearly ap- pear. In either event it is evident that when these State bonds mature there is nothingleft for the States to do but to issue new bonds or to treat the princi- pal in some other way as a direct State liability on which interest annually will be paid to the bene- ficiary. It is plain that this is the most practical way of managing this fund and one which all the States will probably sooner or later adopt. The remaining States invested this fund in what they at least regard- ed as " other safe stocks. ' ' IX The Congressional Act has been amended so as to permit the State of Iowa to invest this fund in bonds secured by mortgages on unincumbered real estate. No other State has the right to indulge in such investments. But it will appear that in Con- necticut and California and a few other States a por- tion of this funds is thus invested. For a short time that practice prevailed in the State of New York, but under the advice of the Attorney-General the bonds and mortgages were collected and the practice aban- doned. In no State has the actual income fallen below five per cent, except in Nevada and New York. In Nevada the state invested a large portion of this fund in government four per cent, bonds, but the state paid all the expenses of management, in- cluding premiTims, and made up the "diminution" below five per cent, by making other large appropria- tions to the beneficiary out of its general funds. In the state of New York the investments have recently been made largely in government bonds bearing a rate of interest less than five per cent. These investments were made in spite of the fact that "other safe stocks" bearing a rate of interest of at least five per cent, could be obtained. The actual income of the University was also diminished by the state taking all expenses for premiums out of the income. The right of the state to invest in securities bearing a rate of interest less than five per cent, when "safe stocks" could be obtained bearing a rate of in- terest of at least five per cent, has not yet been pre- sented to the courts of this state. X But the practice of taking the expenses of man- agement of the fund, such as premiums, commissions &c., from its income, has been condemned by the New York Court of Appeals in the recent decision already referred to. This practice seems to have prevailed only in the State of New York. In the State of Wisconsin, as a matter of book- keeping, these expenses seem to have been charged against the income, but it was a matter of no import- ance to the beneficiary, since that state appropriated to the beneficiary each year out of its general funds, in addition to this income, a sum much larger than these expenses. It will also appear from an examination of these communications that Massachusetts is the only state in the Union where the income of the fund has been divided or given to different institutions. To fritter away a fund of this kind by dividing its income would seem to be unwise. At least such seems to have been the practical conclusion arrived at in each of all the other states. In 1865 a strong effort was made to divide this fund in the state of New York among various insti- tutions, each one asking for a portion thereof. But, through the exertions of the Hon. Andrew D. White, then a senator and afterwards President of the Uni- versity, the scheme failed. Mr. White was very ef- fectively aided in his efforts in this direction by a fellow senator, the Hon. Ezra Cornell, who announced that, if the State of New York would give the whole income to a single institution to be located at Ithaca N. Y., he would supplement its endowment by a half a million of dollars out of his own private fortune. XI This generous offer was finally accepted by the State, and thus was founded Cornell University. The history of every institution endowed in whole or in part by this fund is a part of the history of the fund itself. Cornell University was incorporated in 1865. It is scarcely twenty-five years old, but its equipment and material resources to-day are second only to a few institutions in this country ; while the existence of a faculty and instructing force of over one hun- dred, and the presence of 1323 students, as appears by its last catalogue, indicate its growth and pros- perity in other respects. The author of the Agricultural College Land Grant of 1862, commonly known as the "Morrill Grant," was Justin S. Morrill, then and ever since a United States Senator from Vermont. As some little recognition of the great good accomplished by Senator Morrill through this Congressional Act, Cornell University recently placed his portrait in its public library alongside of that of Ezra Cornell and its other benefactors. The University has also named one of its main buildings "Morrill Hall," but his greatest monument is to be found in the large " Land Scrip Fund " now devoted to the cause of education in each state in the Union, and which, under the guaranty of the state, will be as permanent and as lasting as the State itself. With a few exceptions, the land scrip and lands located therewith have been already converted into money, and the fund in each State has become a definite and fixed sum. More than a quarter of a century has elapsed since the Morrill Act was XII passed. But a careful examination of all these com- munications will reveal the fact that the sale and disposition of this land scrip, on the whole, has been wisely made, and the fund, thus far, has been honestly administered. Nor does it appear that any State at any time has failed to meet promptly all the obligations and responsibilities imposed by the Act of Congress except in the State of New York, where through misunderstanding, or more probably inatten- tion to the provisions of the Congressional Act, the expenses of management were taken from the in- come, but this has been corrected by the Courts. The amount and present condition of this fund in the State of New York is fully set forth in the opinion of the New York Court of Appeals already referred to, and which is printed in this volume. It will appear from that that the "College Land Scrip Fund " proper, being that portion of the proceeds of the sale of the land scrip which is in the custody of the State, is $473,402.8.7. This would seem, to be a very small sum when it is considered that the State of New York received scrip representing nine hun- dred and eighty-nine thousand nine hundred and twenty acres. But the statement of this fact contains but a very little of the history of this fund in the State' of New York. All of the northern states received their scrip practically during the same year. The great mass of it was immediately thrown upon the market. The result was that it was being sacrificed at sums rano-. ing as low as fifty cents an acre. Ezra Cornell, the generous founder of the Uni- versity, saw that by this process, the amount realized XIII ftoiii this fiind in the State of New York would be very disappointing and unsatisfactory. Therefore, in 1866, he made a contract with the State of New York, sanctioned by the Legislature, in which he agreed to purchase the remainder of the scrip then unsold by the State, as an individual, and, without going into details, he agreed to pay in the first instance sixty cents an acre therefor, which amount should be added to the College Land Scrip Fund, and, as the result of such payments, that fund now aggregates #473,402.87. Mr. Cornell also entered into an obligation at the same time and in the same instrument, with ample security, in which he agreed to locate lands with the scrip thus pxxrchased, in his own name, to pay the taxes and all expenses of such locatiou, to sell the land in twenty years and to pay all the net proceeds, over and above the expenses and the sixty cents an acre above referred to, into the treasury of the State of New York. This latter amount, namely ; the amount realized over and above sixty cents an acre and the expenses, was to constitute a separate fund to be called the "Cornell Endow- ment Fund," the income of which should be devoted forever to Cornell University. For further details see the contract itself printed hereafter in full. Mr. Cornell at once entered upon this Herculean task. Within a few years he located over half a million acres of pine land in the west, principally in the State of Wisconsin. Some sales were made, but not enough to pay the expenses and taxes, and before his great work was half accomplished, death removed him. With the consent of the State, Cornell Uni- versity then took the lands thus located by Mr. Cor- nell, assumed his obligations and undertook to carry XIV out his contract. Tlien there followed years of great depression in the land business ; sales were few, taxes high, expenses great and the needs of the University greater. Many times before the year 1882 the majority of the Board of Trustees, keenly sensi- tive to the pressing wants of the University, would willingly have sold all the lands thus located for a million or a million and a quarter of dollars. But, forttinately for the University, the chairman of its Board of Trustees and of its land committee, was the Hon. Henry W. Sage, the founder of Sage College for Women at Cornell, and otherwise one of its great- est benefactors. He had great practical experience in the management of pine lands, and, following his superior judgment, although many times with great misgivings, the University trustees held onto these lands until in the year 1882, when there came a great advance in their value. Since that time the lands which the majority of the trustees, always excepting Mr. Sage, was willing to sell for a million or a million and a quarter of dollars, have already realized nearly five millions of dollars, and there is still unsold and undisposed of pine and farm lands of an estimated value of upwards of a million dollars more. By the report of Henry W. Sage, chairman of the land committee, made in October, 1889, it ap- pears that up to August ist, of that year, there had been realized from the lands thus originally located by Mr. Cornell, over and above the sixty cents an acre paid to the State, the sum of . . 14,920,747.75. Mr. Sage estimates the lands unsold to be worth | 1,267,323.86 $ 6,188,071.61 XV It will be readily seen from the above that the benefits which have accrued to Cornell University from the counsel and practical experience of Mr. Sage far exceed his many money contributions, al- though they already aggregate a million dollars. The same may also be truthfully said of Mr. Cornell whose contributions far exceeded the half a million of dollars originally promised. It was Ezra Cornell, the founder, who conceived of and entered upon this bold scheme ; it was Henry W. Sage, the benefactor, who carried it to a successful execution. In 1881 the Legislature of the State of New York entrusted this whole "Cornell Endowment Fund" to the custody of the University itself. The New York Court of Appeals has decided that this branch of the fund is not impressed with the trust imposed by the Congressional Act upon the $473,- 402.87 known as the "College Land Scrip Fund," now in the hands of the Comptroller. Matter of McGraw, iii N. Y. , 11^ & I2g. The above case is now in the Supreme Court of the United States, and this question is still unde- cided. In the State of Illinois, by the terms of the act incorporating the University of that State, the State transferred by assignment all its right, title and inter- est in and to the land scrip issued b)'^ the general government to the State, vested the absolute title in the University ; and ' ' absolved itself ' ' (so the lan- guage is) " from any further liability, &c." Each State accepted this fund as a trustee, the terms and obligations of the trust being clearly de- XVI fined in the Congressional Act. It is very certain that a State cannot absolve itself from liability as such trustee by any legislative enactment, certainly not without the consent of the United States. It is very certain also that the State of Illinois is still liable as guarantor for the existence and perpetuity of this fund in that State. The State of California still holds the title to this fund as trustee, but it has entrusted its whole custody and management to the University of California, located at Berkeley, being the beneficiary in that state. The State of Rhode Island transferred its scrip, when received, to Brown University, under a contract with that institution, in many respects similar to the contract of 1866, between the State of New York and Ezra Cornell, Brown University farther agreeing to perform all the duties and assume all the liabili- ties imposed by the Congressional Act upon that state. The following tabular statement shows the amount of scrip assigned to each state, the amount realized in full and per acre : STATE. NO. ACRES. AM'T. REALIZED TOTAL AMT. PR ACRE. REALIZED. Arkansas. . . . 150,000 $ .90 #135,000 00 Delaware. . . . 90, 000 ■92+ 83,000 00 Maryland. . . . 210,000 •55+ "5,943 00 Alabama . . . . 240,000 I .06- 253,50000 Maine . . . . . 210,000 •56+ 118,300 00 XVII Illinois 450,000 Oregon 90,000 New Hampshire . 150,000 Rhode Island. . 120,000 California. . . . 150,000 Missouri .... 330,000 Indiana 390,000 Wisconsin . . . 240,000 W. Virginia. . . 150,000 Massachusetts. . 390,000 Ohio 630,000 Nevada 90,000 Vermont. . . . 150,000 Pennsylvania . . '780,000 Tennessee. . . . 300,000 Nebraska. . . . 90,000 Connecticut. . . 180,000 N. Carolina. . . 270,000 S. Carolina. . . 180,000 Texas 180,000 Kansas 90,000 Mississippi. . .207,920 Florida 90,000 Georgia .... 270,000 1. 00 450,000 00 1.04+ 93.985 00 •53+ 80,000 00 .41+ 50,000 00 5-14+ 771,686 86 •52- 170,000 00 .87+ 340,000 00 1-51+ 363,73888 .60 90, 000 00 .56+ 219,000 00 •54+ 342,450 80 1.051^ 95,000 00 .90+ 135,50000 •52+ 406,000 00 i^34>^ 403,50000 .44- 39,504 52 •75 135,000 00 .46+ 125,000 00 1.07— 191,800 00 1. 16+ 209,000 00 5^57+ 501,426 S3 .90+ 188,028 00 1.73+ 155,800 00 .90 243,000 00 XVIII Iowa. . . . Minnesota . New Jersey Virginia . . Colorado. . Michigan. . Kentucky . Louisiana . New York . 240, 000 2. 70+ 120,000 4.39 .210,000 .55 300,000 .95 90,000 ^p=t,i" 1.25 240,000 " 2.50 330,000 " .60+ 210,000 1. 00 989,920 6.73- 649,396 16 526,837 96 116,000 00 285,000 00 112, 500 00 600,000 00 200,000 00 210,000 00 *6, 661,473 88 9,597,840 #1.65+ $15,866,371 39 The foregoing statement as to the amount of scrip assigned to each state is based in a few cases upon official communications received from the states. So far it may be considered absolutely ac- curate. But in most cases it is based upon the as- sumption that each state received the amount of scrip to which it was entitled according to the census of 1S60, as provided for iu the Congressional Act. As to some of these states therefor the amount of the scrip may be in a few instances over stated. For ex- ample, Mississippi and New York are each short of scrip to the amount of 80 acres. This arises from the fact that under section second of the Cono-res- sional Act, the scrip was apportioned " to the several States in sections or subdivisions of not less than one quarter of a section," or not less than 160 acres in a * Cornell Endowment Fund |6, 188,071 01 College Land Scrip Fund . 473,402 87 16,661,473 88 XIX single dcrip. It is probable therefore that a shortage may exist in several of the States to the same amount as in the States of Mississippi and New York. It will appear from the above that, largely through the individual efforts of Mr. Cornell and Mr. Sage, the scrip assigned to the State of New York has produced a larger fund for the cause of edu- cation in proportion to the amount assigned, than ex- ists in any other State in the Union. In fact, the total fund in New York is more than one-third of the total amount realized in the whole United States. The price per acre realized from the sales made by the State of New York itself is about fifty cents an acre. So that, as the result of the plan conceived by Cornell and carried out by Sage, the price per acre in the State of New York has been raised from about fifty cents to more than six dollars and seventy-three cents' an acre. Kansas and California stand next to New York in successful management of this fund ; then come Minnesota, Iowa, Michigan and Florida. Colorado has sold but little of the 90,000 acres assigned to that State, the amount sold realizing less than a dollar and a quarter per acre, but in the above statement the whole amount is estimated at that sum, or $112,500.00. Michigan has realized $357,619.20 in money, on which it pays seven percent. It has also "unpaid balances" on contracts for sale of land, amount not stated, from which it received and paid to the bene- ficiary $6,771.37, as interest in 1890. It also has $114,094 61-100 acres of land still unsold. It is en- tirely probable that the above estimate of $600,000.00 XX for the State of Michigan, will prove to be altogether too small. The fund in Kentucky consists of $165,000.00 cash and some real estate which it is safe to estimate at $35,000.00, making the total in that State $200,000.00. No statistical information has been received from Louisiana, except that the fund produced an income of $14,555.65. No rate of interest was given, but, in view of the fact that the State was entitled to scrip representing 210,000 acres, it is safe to estimate that at least a dollar an acre was realized therefrom, making the total fund in that State $210,000. This sum at seven per cent, would produce about the in- come reported. The name of the beneficiary in each State together with much other valuable information; will be found in each of the respective communications received. Those who may find anything of interest in this little volume, will readily appreciate how much they are indebted to the correspondents who have furnish- ed the information to be found in the succeeding pages. I desire also to add my personal acknowledgment for the aid and assistance they have so freely and gratu- itously rendered. S. D. HALLIDAY. Ithaca, N. Y., March, 1890. ANSWERS TO CIRCULAR LETTERS. [state SEAL. J STATE OF ARKANSAS. EXECUTIVE OFFICE, James P. Eagle, Governor. Little Rock John C. England, Private Secretary. ' C. W. Walker, Clerk. Dec. 19, 1889. Messrs. Halliday & Finch, Attorneys at Law, 22 E. State Street, Ithaca, N. Y. Gentlemen. — ^Your communication of the 12 th of September, addressed to the Treasurer of the State has been referred to me. Replying, I would say that there has been no judicial determination or construction by our Courts of the Act of Congress, donating public lands to the several states and terri- tories which may provide Colleges for the benefit of Agriculture and the Mechanic Arts. To second interrogatory — The Arkansas Indus- trial University, is the beneficiary. Under the pro- visions of the Acts of Congress of 1862, the State of Arkansas received one hundred and fifty thousand acres of Land Scrip which was sold to G. F. Lewis representing the Ohio Land Company for 90 cts. per acre. The amount received in currency for said Scrip, was $135,000. Washington County voted an appropriation of j55ioo,ooo eight per cent, bonds. Conditioned that the University be located in said County. The City of Fayetteville, (in said County,) voted an appropria- tion of $30,000 eight per cent, bonds. Conditioned that the University be located in or near said city. Both County and City bonds mature in 1902. The Board of Trustees made repeated efforts to sell the Washington County and the City of Fayette- ville eight per cent, bonds, for the purpose of erecting the University building, but not being able to effect a sale of said bonds, they substituted the permanent School fund as a building fund for Washington County and City of Fayetteville bonds, as ninety- three and one-third cents on the dollar. The former was used for purchasing grounds and erecting the University buildings, while the latter is now held and owned by the State of Arkansas as a permanent fund, the annual interest only to be used for current expenses of the University. There is therefore, held by the State, a perma- nent fund of one hundred and thirty thousand dollars in Washington County and City of Fayetteville bonds, which yields an annual interest, payable Jan- uary and July of each year, aggregating $10,400. The State is the custodian of said funds, and has not parted with the custody of the same. Respectftilly, JAMES P. EAGI.E, Gov., By Walker, Clerk. Office of E. T. Glenn, Treasurer. ALABAMA POLYTECHNIC INSTITUTE. A. AND M. College. Auburn, Ala., Sept. 23d, 1889. Messrs. Halliday & Finch, Attorneys for Cornell University, Ithaca, N. Y. Sirs. — In answer to your questions respecting the Agricultural College fund which has been referred to me, I will say First — No Judicial determination of the ques- tion has ever been made in our State. Second — The Agricultural and Mechanical Col- lege at Auburn, Alabama. Third — The State pays the full amount of the income to the College. Fourth — Nothing is witheld for the management of the fund. Fifth — In State bonds bearing eight per cent, interest. Sixth — Our bonds are in the custody of the State Treasurer, and have been all the time. Seventh— 1253,500. Respectfully, E. T. GLENN, Treasurer, A. and M. College of Alabama. 4 STATE OF MAINE, treasurer's office, Augusta, Oct. 29, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — In replying to your letter, dated Sept. i2th, I will answer your inquiries in the follow- ing order : First — There has never been a Judicial determin- ation or construction of said Act of Congress in this State. Second — State College of Agriculture and Me- chanic Arts located at Orono, Penobscot County. Third — State pays the full five per cent, to the beneficiary. Fourth — No expenses for management, etc. , are paid from the general fund. Fifth — The State has given one five percent, bond, payable in thirty years for the full amount, dated June ist, 1889. Sixth — The State has never parted with the cus- tody of this fund. Seventh — One hundred and eighteen thousand, three hundred dollars, is the amount of the bond given, and cover the amount of this fund. Very truly yours, GEO. L. BEAIv, Treasurer of Maine. AUDITOR'S OFFICE, AND Superintendent of Insurance. or.^" scHWANBECK Auditor. State OF Colorado, Geo. M. Huskins, Deputy Auditor. ' N. S. HuRD, Dep. Supt. oflusurance. Denver, Dec. 12, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Your letter of Oct. 26th, was re- ferred to me by the State Treasurer, about ten days ago, and have experienced some difficulty in getting the information required, as none of the departments knew very much about the history of the grant, with- out referring to records. First — There has been no Judicial determination or construction of .said Act of Congress in our State. Second — The sole beneficiary of the 90,000 acre grant, is the Agricultural College, located at Fort Collins. Third — The State pays the total income from leasing of land to the beneficiary. The total receipts since March, '86, has been $4,265.45 to the Income Fund. The receipts from the beginning of sales of land, Feb. 1887, for the credit of the Permanent Fund, amount to $14,829.74 and have never been invested. Law authorizes the Treasurer to invest in interest bearing warrants of the State which draw six per cent, per annum. There has been no moneys paid on account of the grant other than the Income Fund above men- tioned, but there is a levy of one fifth mill each year for the running expenses of the institution and appro- priations for building purposes. Fourth — The State pays out of its general fund all the expenses. Fifth — Not invested as yet, but will probably be State Warrants. Sixth— No. Seventh— $14,829.74. Out of the 90,000 acres, there has been "confirm- ed" 67,557 acres, and about 12,000 acres sold. I think I have faithfully earned $5 and the re- port of the determination of the Court in the action, provided you have it printed. Yours truly, HARRY TARBELL, Deputy State Auditor. STATE OF ILLINOIS, secretary's office, Springfield, Jan. 13, 1890. Messrs. Halliday & Finch, 22 East State Street, Ithaca, N. Y. Gentlemen. — Your letter of the loth inst. to the Governor of this vState has been referred to me for reply. Replying to your circular letter of Sept. 1 2 th 1889, accompanying your letter and answering your inquiries categorically, the following informa- tion is as nearly correct as I am able to give you con- cerning the disposition of lands donated by Congress and allotted to the State of Illinois for the benefit of "Agricultural Colleges" under the act of 1862. First — There has been no judicial determination or construction of said Act of Congress in the Courts of this Slate. Second — The beneficiary of the donation in the State of Illinois as originally named in the act of location and establishment, Feb. 28, 1867, was the "Illinois Industrial University." In 1885 the name was changed to the '"University of Illinois" which is now the name, and the University is located at Champaign, Champaign County. Third — B}^ the terms of the act incorporating the University the State transferred by assignment all its rights, title and interest in and to the land- scrip issued by the general government to the State, vested the absolute title in the University, and absolv- ed itself from any further liability on account of the donation of land or to the University. The trustees of the University were authorized to sell the scrip and transfer it by assignment or to locate the same on public lands in any state and to receive patent there- for. All of the Scrip except 25,000 acres which was located was sold and the proceeds invested in interest bearing securities for the benefit of the University. Fourth — The University, and not the State is the possessor of the endowment fund created by the donation of land by Congress, and is in the exclusive enjoyment of the income therefrom. Until the year 1877 no appropriation had been made directly from the State treasury' to the University on any account, except for the erection or completion of new build- ings. In 1877, appropriations were made for the taxes on lands in other States for repairs and im- provements, for the chemical laboratory and for instruc- tion in the mechanical department, but none for ex- penses in the instruction department. These appro- priations have been since continued for these purpos- 8 es, and in 1881 was added to those items one of $5,700 for instruction, (salaries of professors and teachers,) which has been increased from time to time. These appropriations have not been made in recog- nition of any legal claim, demand, or obligation on the part of the State, but simply as a matter of State pride in aid of the University. Fifth — The endowment fund is vested mainly in municipal bonds of the State of Illinois and interest bearing contracts for balance of purchase money on lands. Sixth — The State has parted with all the princi- pal fund to the beneficiary. (See answer to fourth inquiry.) Seventh — The principal of the endowment fund is about #450, 000. I take pleasure in handing you this information, and, in return, will you please advise this oflSce of the decision in the Cornell University case when determined. Very Respectfully, I. N. PEARSON, Secretary of State. 9 STATE OF OREGON, treasurer's office, Salem, Sept. 25, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Your circular letter of the 12th is at hand. Your inquiries will be answered in the order they appear in your letter. First — No. But a case is now pending in our courts, between the Corvallis College, an institution under the management of the M. E. Church South, and the State, over the management of this fund or rather of the school which it supports. The Supreme Court has rendered one decision recently, principally on construction of State statutes. Second — Corvallis College originally. The State now seeks to oust this corporation and assimie the management itself. Third— It does not. Fourth — Yes, to second part of inquiry. Fifth — The fund is loaned by a board consisting of Governor, Secretary of State and Treasurer at eight per cent, on real estate security, one-third of appraised value being loaned. Sixth— No. Seventh — #93,985 in January last. Yours respectfully, G. W. WEBB, Treasurer. lO [state seal. ] TREASURY DERARTMENT, STATE OF TEXAS, F. R. Lubbock, Treasurer. Austin, Sept. 24th, 1889. Messrs. Haluday & Finch, Ithaca, New York. Dear Sirs. — Replying to your circular letter making inquiry concerning the disposition made by the State of Texas of the land scrip granted by Con- gress to the several States, will say the scrip received by Texas was sold and the proceeds invested in a Permanent Fund, the interest on which is annually appropriate to the support of the "Agricultural and Mechanical College of Texas." This Permanent Fund consists of ;?i74,ooo.oo percent. State Bonds, and 35,000.00 six percent. State Bonds, and yields an annual income of I14,- 280.00. The Bonds are on deposit in this department and the annual- interest disbursed by the State Officers for the maintenance of the College Fund. No expense whatever is incurred or attaches to the handline of the Fund. I do not know of any "Judicial determination or construction" of the Act of Congress makine the donation — the matter having been handled and man- aged by the officers according to Legislature direction. I mail you to-day the last report of the A. and M. College, which may affiard you some information. Respectfully, F. R. LUBBOCK, Treasurer. II Catalogue of the Agricultural akd Mechanical College OF Texas. Permanent Fund In November, 1871, the Legislature formally ac- cepted from Congress the gift of one hundred and eighty thousand acres of public land for the endow- ment of an Agricultural and Mechanical College. This land was sold for $174,000, which sum was in- vested in. seven per cent. State Bonds. As under the Act of Congress neither principal nor interest of this money could be used for other purposes than the pay- ment of ofl&cers' salaries, at time of the opening of the College there was an addition to the Fund, from an accumulation of interest, of $35,000. This was invested in six per cent, bonds of the State, thus furnishing an annual income of $14,280. THE STATE OF NEW HAMPSHIRE, office of state treasurer. Concord, Sept. 17, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gents. — In reply to your circular of 12th inst., would say, that I am not aware that there have been 12 any decisions of the questions raised by the courts of N. H. The proceeds of the land scrip were invested in bonds of the State of N. H., |8o,ooo, and in 1884 or 1885 the bonds matured and by an Act of the Legis- lature the bonds were cancelled and an Agricultural College Fund created of same amount on which the State 6 per cent, to the institution, the principal be- ing treated as a trust fund and a liability of the State. The N. H. College of Agriculture and the Me- chanic Arts, is connected in some degree with Dart- mouth College, and has been from its inception. Yours very respectfully, SOLON A. CARTER, State Treasurer. STATE OF RHODE ISLAND, OFFICE COMMISSIONER PUBLIC SCHOOLS. Providence, Oct. 31, 1889. Messrs. Halliday & Finch, Gentlemen. — Your communication of Sept. 12th and the 26th inst. to General Treasurer Clark have been by him turned over to me with the request that I answer them. 13 I have the honor to forward herewith, copies of the Acts and Resolves of the General Assembly for 1863 and 4, which contain the original Legislation, making Brown University the beneficiary of the State under the Act of Congress and also an acconnt of the earlier steps taken to locate the lands. I also enclose copy of a subsequent resolution, defining the scope and intent of the original. The history of the fund through the subsequent years is not easily traced, for the reason that the annual reports made by the University to the Assem- bly, as required by law, were not always printed and hence do not appear in the yearly schedules. The first one, which gives the detailed account of the location of land and their conversion into fimds is not to be found in print. Then in 1870 or 1871, there was some contention over the matter, and a joint special committee was appointed by the General Assembly to investigate the whole matter, and they did so and reported the following year ; but there are no copies to be had in print, of their report. I think the documents sent with what I have written, will enable you to answer your queries, but if you wish for a full transcript of the reports above alluded to in addition, I can get them copied for you if you will pay the cost. I am not positive as to the amount obtained for the lands, but I think it was only $50,000. As to the first question on your circular, I would say that there has never been any judicial construc- tion of the matter by our courts so far as I can dis- cover. I also send copy of the last catalogue of H Brown University from which you may derive a little light. Very respectfully yours, THOS. B. STOCKWEIvL, Commissioner. Resolution explanatory of the stipulation contain- ed in a resolution passed by the General Assembly, January, 1863, assigning certain land scrip to Brown University : Resolved^ That the second article in the stipula- tion in the resolution of the General Assembly, passed at the January session, A. D., 1863, "assigning to Brown University the land scrip granted by the Unit- ed States to the State of Rhode Island, for the estab- lishment of our Agricultural College," was intended to authorize, and shall be so construed and understood, as to authorize and empower the corporation of Brown University, its agents and assign, to sell or dispose of the land scrip in said resolution described, and any part thereof, as well as to locate the same and parts thereof, as in said second article authorized and provided. RHODE ISLAND. RESOLUTIONS OF A PUBLIC NATURE. Resolutions assigning to Brown University, the land scrip granted by the United States to the State 15 of Rhode Island, for the establishment of an Agricul- tural College : Resolved^ That His Excellency the Governor be, and he hereby is, authorized and appointed on the part of the State, to transfer, assign, and set over to the Corporation of Brown University, in the city of Providence, the scrip now in the possession of the Governor, or which may hereafter come into his pos- session from the Government of the United States, under and by virtue of a Resolution passed by this General Assembly, at its present session, upon receiv- ing from the said Corporation or its duly authorized agent, the following stipulations ; which stipulations shall be as and for a perpetual agreement, by and be- tween said Corporation and State as aforesaid, and shall be in form substantially as follows, that is to say : SAID CORPORATION DOES HEREBY AGREE 1. To provide a College or Department in said University, the leading object whereof shall be, with- out, excluding other scientific and classic studies, and including military tactics, to teach such branches of learning as are related to Agriculture and the Me- chanic Arts, in such manner as hereinafter stated, in order to promote the liberal and practical education of the industrial classes in the several pursuits and professions of life. 2. To locate without unnecessary delay, and at their best discretion, the said scrip upon some of the public lands of the United States, properly open to be located upon, and from time to time to sell and dispose of the lands so to be located upon, so that the largest price can be obtained for the same. i6 3. To invest and to keep invested the proceeds of the said sales in stocks or securities of the United States or of this State ; but if this should be imprac- ticable, so that an income therefrom of at least five per centum per annum upon their par vahie could not be realized, then to invest such proceeds in some other safe stocks, (the safety of which other stocks the University shall guarantee,) upon which an in- come of at least five per centum, as aforesaid, can be realized. 4. To pay all expenses of locating and selling said lands, and all taxes which may be assessed there- on, or upon the proceeds thereof 5. To apply faithfully the income arising from the avails of the sales of said lands in endowing, main- taining and supporting a College in said University as aforesaid, for the objects as aforesaid, so that no portion of said proceeds or income therefrom shall be iised in the erection, preservation, purchase or re- pairing of any building or buildings, for the College, or other purposes ; provided^ however^ that a portion of said proceed of said sales, not exceeding one-tenth part thereof, may, at the discretion of the Corporation, be expended according to said Act of Congress, in the purchase of lands for sites, or an experimental farm, whenever said Corporation shall so determine. 6. To educate scholars, each at the rate of one hundred dollars per annum, to the extent of the en- tire annual income from said proceeds, subject to the proviso as aforesaid ; the Governor and Secretary of State, to have the right on or before Commencement Day of each year, and in conjunction with the Presi- dent of the University, to nominate candidates for vacancies occurring in said College or Department as I? aforesaid, at the beginning of each Collegiate 5'ear ; and students admitted to said College, and pursuing studies therein by virtue of said fund, are not to be excluded from the regular scientific and classic studies of said University, and are to be subject to the laws and regulations of the University, in entering and remaining thereat ; and are to be graduated with the degree of Bachelor of Philosophy or Bachelor of Arts, or are to receive a certificate for a partial course, according as the case may be. 7. To assume upon itself all the responsibilities and duties which are imposed upon the State by the said Act of Congress ; and also all the duties imposed upon Colleges endowed under the provisions of the said act, and to be entitled to all the privileges and immunities conferred thereby upon the State, and upon institutions endowed thereunder. To make to the Governor of the State an annual report, a copy of which shall be communicated to the General Assembly, of all lands located and sold, until the whole is disposed of, the amount received for the same and how invested, and of the appropria- tions made of the proceeds therefrom, and stating the number of the students to whom the same have been applied, and of all other matters prescribed by said Act of Congress as aforesaid. Resolutions accepting the grant of land, made by the United States for an Agricultural College : Resolved, The Senate, concurring with the House, in the passage hereof, that the General Assembly of the State of Rhode Island, does hereby, express its acceptance in behalf of the State, of the benefit of the provisions of Chapter CXXX, of the Statutes of the United States, passed at the Second i8 Session of the Thirty-seventh Congress, and approv- ed July 2d, A. D. 1862, donating public lands to the several States and Territories, which may provide Colleges for the benefit of Agriculture and Mechanic Arts, upon the terms and conditions in the said act, contained and set forth ; and that the faith of the State be, and is hereby pledged to the United States that, upon the receipt of the scrip provided to be issued under the said Act of Congress, it will faith- fully apply the proceeds thereof to the objects, and in the manner prescribed by this act. Resolved^ That His Excellency the Governor be, and he hereby is, requested no notify the President of the United States, without delay, of the accepting by the Legislature of this State of the donation of scrip for one hundred and twenty thousand acres of the public lands of the United States, (that quantity being thirty thousand acres for each Senator and Representative in Congress from this State,) made by the provisions of Chapter CXXX, of the Statutes of the United States, approved July 2d, 1862, donating public lands to the several States and Territories, which may provide Colleges for the benefit of Agri- culture and the Mechanic Arts, upon the terms and conditions in the said act contained and set forth, and to furnish at the same time a copy of said notification to the Secretary of the Interior. Resolved^ That His Excellency the Governor be, and he hereby is, fully authorized and empowered by himself or his order, to receive from the Secretary of the Interior, or any other person authorized to issue the same, the land scrip to which this State is entitl- ed, under the provisions of Chapter CXXX, of the Statutes of the United States, passed at the second 19 Session of the Thirty-seventh Congress, and approv- ed July 2d, A. D. 1862, donating public lands to the several States and Territories, which may provide Colleges for the benefit of Agriculture and the Me- chanic Arts, and to hold the said scrip subject to the future order of this General Assembly. Brown University Catalogue. Departments of Practical Science have been es- tablished in the University for the benefit of students who wish to prepare themselves for such pursuits as require special knowledge of the mathematical and physical sciences and the application of these to the industrial arts. In these departments provision has also been made for sources of instruction in "such branches of learning as are related to Agriculture and the Mechan- ic Arts." This provision has been made in accord- ance with an "Act of Congress granting lands for the establishment of Agricultural Colleges," and with "Resolutions of the General Assembly of the State of Rhode Island accepting these lands, and as- signing the same to Brown University." Students who enter for these studies only, either in full or in part, are subject to the same conditions of admission as for any select course ; and when they have duly pursued such studies, they will be entitled to a certificate stating the time of their residence at the University, and the amount of their acquisitions. They may, however, pursue these studies in connection with the ' 'regular 20 scientific and classical studies of the University," and when they have so pursued them as to fulfill the requirements for the degree of Bachelor of Arts or of Bachelor of Philosophy, they will be entitled to such degree. Report of the Corporation of Brown Univer- sity relative to the lands granted by the United States to the State of Rhode Island, for the estab- lishment of an Agricultural College. To His Excellency James Y. Smith, Governor of the State of Rhode Island, etc. The Corporation of Brown University respect- fully present this, their first Annual Report, in con- formity with the Eighth Section of the Agreement in the resolution "Assigning to Brown University the Land Scrip granted by the United States to the State of Rhode Island for the establishment of an Agricul- tural College," passed by the General Assembly at the January Session, 1863. By the said Section, the Corporation is "to make to the Governor of the State an annual report, a copy of which shall be communicated to the General As- sembly, of all lands located and sold, until the whole is disposed of, the amount received for the same and how invested, and of the appropriations made of the proceeds therefrom, and stating the number of stu- 21 dents to whom the same have been applied, and of all other matters prescribed by said Act of Congress." This report will be confined to the subject of location of lands, because the Corporation have as yet made no advance beyond that fundamental pre- liminary. The "Act donating public lands to the several States and Territories which may provide Colleges for the benefit of Agriculture and the Mechanic Arts," was approved July 2, 1862. Its second section provides that no location shall be made before one year from the passage of the Act. The second day of July, 1863, was therefore the earliest day on which a loca:tion of lands could be made. Rhode Island was the first State having no Public Lands within its limits, which accepted the grant of land made by the United States ; it accepted it at the January Session, 1863, and on the 23d day of said January assigned the same to Brown University. The Governor of the State, (then Governor Sprague,) and the Corporation of the University, be- lieving it essential to the value of the grant that no official inaction or other hindrances should prevent the earliest possible location of the lands for Rhode Island, induced the Hon. John R. Bartlett, Secretary of State of R. I., in behalf of the State, and Horace Love, agent of the University, (selected as well for his intelligence and interest in the subject, as for his experience in the business of Public Land offices,)-to visit Washington immediately, to represent the in- terests involved. Within two hours after the passage of the Reso- 22 lution of Assignments, they departed, with authenti- cated papers, to communicate the action of the State of Rhode Island, and of the University, to the De- partment of the Interior, and to negotiate for the timely preparation of such official regulations, forms and documents as the Department would adopt, and prescribe to govern the selection and location of lands under the Act of Congress. After a satisfactory interview with the Secretary of the Interior, the Hon. John P. Usher, he referred them to the Commissioner of the General Land Office, the Hon. J. M. Edmunds, to whose office the details of the business belong. After a full hearing and free interchange of views as to the United States grant, and proceedings under it, the Commissioner stated that the subject was yet new — that he -was not then prepared to issue the Scrip, (which is the official evidence of the right to enter lands at the land offices,) previous to which he should need some time to (as he said,) "eliminate" the Act of Congress ; that this application was the first, would be entitled to the first issue, and it should be made in a few weeks. The Secretary of State then returned to Rhode Island, leaving the agent of the University to expedite, if possible, the issue of the Scrip, and to return with it. The agent was unsuccessful ; and between Janu- ary and May he made two other unsuccessful journeys to Washington, unable to procure from the Commis- sioner any thing more than assurances that the Scrip should be furnished in ample time, before the lands were open to location. He wrote twice after that to the Commissioner, reminding him that the delay was likely to be very injurious to the interests of Rhode Island. 23 To be prepared to make the most favorable loca- tion, as soon as the time should arrive, the agent of the University, early in May, was despatched to Kan- sas, and the neighboring region, to examine lands and records in land offices. With all the persistent diligence used, the Scrip not being procured nor issued in June, the Secretary then again went to Washington to endeavor to obtain it; nearly five mouths had then elapsed since the. first application to the Commissioner, and his assur- ance that it should be issued in a few weeks. The Commissioner made various excuses for the delay but continued to promise that it should be issu- ed in time to be sent to Kansas before the 2d day of July. Senator Anthony also wrote to hasten its issue, as afterwards did Governor Smith. With all the diligence and pressure applied by Secretary Bartlett, by the agent of the University, by Senator Anthony, and by Governor Smith, the Scrip was not received by the Secretary, in Providence, until the 12th of August, dated Washington August 7th. The President of the University, who was author- ized to locate the lands, having waited in vain for the Scrip until the 22d day of June, provided himself with certified copies of the Acts of the General As- sembly, and of the Corporation in relation to the land grant, and proceeded to Kansas, fearing the conse- quences of longer delay, and hoping the Secretary would receive and forward the Scrip to him from Washington, where he then was. In Kansas, President Sears joined the agent of 24 the University, who had been a month there examin- ing the records of land offices, and viewing lands for the purpose of selections ; and both united in these investigations, that they might be prepared to make locations of the most valuable lands on the 2nd day of July ; daily hoping for the arrival of the Scrip. At nine o'clock, on the morning of the 2nd of July, the hour at which the land office was opened, the President made his application, and filed a sched- ule of his locations in due form in the Register's office, in Atchison, Kansas, for the entry of 26,080 acres of land for the University, with all the papers necessary, except the Scrip, which tholigh applied for in January, and repeatedly after, and as repeated- ly promised in anticipation of this day, was still held back, and for more than a mouth thereafter, in the Land Office in Washington. The entry was thus formally made ; and on the 6th of July another entry of 13,920 acres, in the same office ; making in all, 40,000 acres ; and the legal entry fees, amounting to one hundred dollars, paid, and received at the time of each entry by the Regis- ter and Receiver. About three weeks after our entries were made, one claiming to be agent of a railroad company, (called the Atchison and Pike's Peak Railroad Com- pany,) and professing to be its Engineer, having made a flying survey of about one hundred miles, diagonally, through the whole extent of our selection, drew and forwarded a plan, or survey, to be filed in the General Land Office, in Washington. If this survey is established it takes the railroad track, and fifteen miles, as we are informed, on each side of the track, through the land selected and lo- 25 cated by us, and doubles the government price of public lands adjoining. A copy of this survey was sent to the Atchison Land Office, from Washington, which if allowed at the General Land Office, authen- ticates, so far as that allowance can, the supplanting appropriation attempted for the railroad company. That the Commissioner of the General Land Office in Washington was informed of the proceed- ings, both of the University and for the railroad com- pany, appears from the following letter of the Com- missioner, a copy of which is on file in the Secretary's office of this State, and is as follows : General Land Office, August 13, 1863. Gentlemen. — I have received your letter of the 3d instant, stating that Rev. Barnas Sears, D. D. , President of Brown University, Providence, R. I., was at ' ' your ' ' office, on the 2d and 6th days of July, ultimo, and having given "yoii" satisfactory evidence of his authority to locate for the benefit of said Uni- versity, the 120,000 acres Land Scrip accruing to the State of Rhode Island, under the Act of Congress, approved July 2d, 1862, entitled " An Act donating public lands to the .several States and Territories which may provide Colleges for the benefit of Agri- culture and the Mechanic Arts," he had selected and designated 250 quarter Sections of land in "your" District, and made application to the Register to lo- cate the same with the Scrip aforesaid, and deposited with the Receiver {^looo to pay the fees for such location." 26 That he had " not been able as yet to locate the Scrip, owing to the delay of the department in issu- ing the same, but having complied with requirements of the law to the extent of his ability, he claims the land which he has thus applied to locate in preference to all claims, whether of Railroad Co., or other parties made since the date of said application," and that "believing these claims to just, you had reserved the lands so designated by President Sears from location or entry by other parties." First — There has been no delay whatever in the issue of the Scrip to the State of Rhode Island — the law interdicts its location prior to 2d July, 1863 — and within a month and five days of that time, and as soon as the printed forms and records were furnished us, the whole issue to which Rhode Island was en- titled, was sent to that State, as you will see from the enclosed copy of our letter to him of 7th ult. Second — On the iSthof June, 1863, this office sent you the circular — copy herewith — which is accompan- ied by a copy of the law, which requires "said Scrip to be sold by said State, etc," the land to be located by the assignees of the State, the Scrip having on the back of each parcel a form of assignment. Third — Your proceedings, then, in receiving an application in the absence of the Scrip, duly and law- fully assigned, and your reservation of the 250 quar- ter Sections upon the unsupported applications referr- ed to, unaccompanied by the legal tender, (being the assigned Scrip,) was not only without authority but in disregard of the law. Fourth — Your withdrawal and reservation of the 250 quarter Sections being unauthorized and illegal, will not operate to exclude any others, and hence you 27 ■will consider the lands relieved and open to the first legal applicants ; embracing of course, the assignees of the State of Rhode Island, should they first pre- sent themselves with written applications accom- panied with Scrip duly assigned. You will accordingly so notify the party at whose instance you made the reservation. Very respectfully, signed, J. M. EDWARDS, Commissioner. Register and Receiver, Atchison, Kansas. The Act of Congress was approved July 2, 1862, to take effect July 2, 1863 ; which gave a year to the General Land Ofl5ce to prepare and promulgate its regulations, instructions and the forms of procedure under the act. The General Assembly of Rhode Island accepted the Act of Congress, and assigned its interests therein to the Corporation of Brown University, in January, 1863; notice of all which was immediately oflScially communicated to the Secretary of the Interior, and to the Commissioner of the General Land Office, in Washington, and duly filed in that office. This State, by its Secretary, and the University, by its Agent, both, at that time, made personal ap- plication to the Commissioner in Washington, for the Scrip, (which is the official evidence of the right to locate and enter lands, ) and impressed upon him the importance of their early possession of it. He informed them that preparation had not been made in his office, up to that time, for carrying the 28 law into effect ; that no application had before been made, but that in a few weeks the required papers should be issued to Rhode Island ; this was moi-e than six months after the passage of the law. Twice between that time and May, the Agent of the University was especially sent to Washington to remind the Commissioner of his assurances and to urge his issue of the Scrip. The delay being continued, in June the Secretary of State again went to Washington to endeavor to procure it or to hasten its issue, but was obliged to return with only renewed promises that it should soon be forthcoming. The Commissioner was continually importuned, by personal applications and official let- ters, from January to July to perform the duty, which was neglected till the 7th of August, or, as he says, for "a month and five days," after all grace had ex- pired by law ; and yet he pronounces that our loca- tion, made with every requisite except that which he had promised and failed to furnish, knowing its im- portance, is invalid because he did not furnish it ! and puts it in writing that " there has been no delay whatever in the issue of the Scrip to the State of Rhode Island P' If there was not delay, and delinquent delay, some new term must be invented to express the com- monly received idea of it ; but the fact can hardly be "eliminated," even officially, from this transaction. In nullifying the location for Rhode Island, the Commissioner in his missive to the Atchison Office says, that "the law interdicts its location prior to the 2d of July, 1863, and within a month and five days of that time," the whole issue for Rhode Island was furnished. 29 The law gave the right to parties to locate on the 2d of July, but did not give the commission the right, which he has arrogated, to "interdict" or obstruct the operation of the law at and after that time, and for all time, according to his ruling, if the Scrip, from negligence or design, should not be issued. To associate this tardy issue with the exact legal provision of location, is an abortive attempt to intro- duce it into good society. Had the Scrip been issued timely, the locations made in be half of Rhode Island on the 2d and 6th of July, — after expensive and protracted examina- tions, and skillful care in the selections,^ — ^would have been unquestionable and fixed. By the delay, an open- ing was made for an attempt to usurp the same selec- tion for a Railroad Company, which attempt the rul- ing of the Commissioner sustains. This ruling is apparently sympathetic and cordial towards the inter- est of the Railroad Company, in its drift and terms ; and in its tone of superb reprobation of the Register and Receiver of Atchison, who it charges with act- ing "not only without authority, but in disregard of the law, " it is not over courteous to the representa- tives of Rhode Island, as they had a good deal to do in the matter which so excites the sensibilities of the Commissioner. It is administered, to, with a heart- iness which need not have been more emphatic if a justifiable design of his office had thereby been frus- trated or endangered. The mischiefs to which this delay exposes Rhode Island are hardly to be overestimated. The lands were selected with great deliberation, judgment and expense, with a view to immediate sales and settlement. Arrangement had been made 30 for their speed}' colonization by New England settlers of the most desirable description. These objects are indefinitely postponed, and may be defeated ; an opening is made for damaging competition in the sales and settlement ; all the advantages of the early institution of the Agricultural College balked ; the ultimate advantages and beneficent effects of the Congressional grant impaired greatly, if not anni- hilated. These threatened mischiefs, and especially that their eflficient cause is in the General L,and OiEce, the letter of the Commissioner grandly ignores. The Kansas location is, however, considered to be too valuable to be surrendered, except from necessity. When the Scrip was received here by the Secre- tary of State, (on the 12th of August,) he prepared and forwarded it to the Land Office, in Atchison, to authenticate the locations already made, or to apply to a re-location of the same lands : in one case or the other, we have confidence of securing the locations, as there are believed to be defects in regard to the Railroad Company and in the procedure, which will annul any acts of location made in its behalf The subject, in the hands of our able delegation in Congress, will be sure to receive the attention it deserves ; and by an appeal from the decision of the Commissioner to the Secretary of the Interior, if that shall be necesg^ry, or by any other expedient course, the important interests of the State and the Univer- sity will be secured. Further selections towards the 120,000 acres to which this State is entitled, have been made, which 31 will be entered as rapidly as required ; the expenses of entering and of taxes are saved nntil the entry is made. From the foregoing statements it will be seen that much labor and expense have been incurred by the University, and that more are unavoidable, in making this grant available, which could not have been — certainly were not — anticipated, and which are a draft upon the limited income of the University which it cannot afford. A doubt has been suggested whether the Resolu- tion of the General Assembly, assigning the land grant to Brown University, gives the same right to the University to reimburse itself for such expenses out of the sales of laud, which the State itself had. The State intended to transfer, and the University intended to accept, and expected to incur all the rights and responsibilities which were created by the Act of Congress. If such a difference exists, or is supposed to exist, disadvantageous to the University, the General Assembly, there is no doubt, will willing- ly remove it by a remedial or explanatory act. Respectfully submitted, in behalf of the Corpor- ation of Brown University, by the Special Commit- tee having the whole charge of the interest of the Agricultural I^ands. WII^UAM J. PATTEN, Chairman. Providence, March 7, 1864. 32 UNIVERSITY OF CALIFORNIA. Berkeley, 4th November, 1889. Messrs. Halliday & Finch, Attorneys for Cornell University, Ithaca, N. Y. Gentlemen. — Your circular of Sept. 12th, 1889, addressed to the Treasurer of the State of California, has been sent to me for answer. First — There has been no judicial determination of the Act of Congress, July 2, 1862, in this State. None has been desired. Second — The University of California is the beneficiary of the land grant. (Agricultural Land Grant of 150,000 acres.) Third — The full 5 per cent, is paid to the Uni- versity ; in fact 7 per cent, is realized. Fourth — The beneficiary itself pays expenses, i. e. premiums on bonds and all other expenses out of its own General Fund. Hence the Land Fund re- ceives the entire income from Land Principal, which is never less than 5 per cent. , and always more. The State does not manage the sale of lands under the grant. Fifth — The Land Fund is invested in State and County bonds and in mortgage on land. First mort- gages only are taken. Sixth — The State has entrusted the management of the Land Sales and the Land Fund to the benefici- ary, viz : the University of California. The bonds are in the custody of the State Treasurer. Seventh — We have realized from the sale of the 150,000 acres $708,925.91. There remains due from purchasers which is bearing interest, 162,760.95 33 Total $771,686.86, or say $5.00 per acre. You will confer a favor if you will kindly inform me what you hope to accomplish by your friendly suit, also what your difficulties may be in the admin- istration of your office. Respectfully, I. H. C. BONTE, Secretary and Land Agent University of Cal. MISSOURI. Office of State Treasurer. City of Jefferson, Sept. 18, 1889. Messrs. Halliday & Finch, 22 East State Street, Ithaca, N. Y. Gentlemen. — In reply to your favor of the 12 th inst. , I beg to say, under the provisions of our law, the proceeds of the sale of lands donated to the State for the maintenance of Colleges for the benefit of Agriculture and Mechanic Arts, is held by the State Treasurer and invested in certificates of indebtedness of the State, bearing 5 per cent, interest, which in- terest is disbursed by the Curators of our State Uni- versity at Columbia, for the support of an Agricultur- al College maintained in connection with the Univer- 34 sity at that place, and the support of a School of Mines and Metallurgy, located at RoUe. This fund aggregates the sum of $170,000.00, invested as before stated. We have no expenses such as commissions, premiums on securities, etc. , hence pay none. The State has never parted with the cus- tody of any of the principal of said fund, or entrust- ed its management to none other than the Curators of our University. There has not been, as far as I can learn any judicial determination or construction of said Act of Congress. Respectfully, E. T. NOLAND, State Treasurer. INDIANA. Purdue University, LeFayette, Ind., November 6, 1889. Haluday & Finch, 23 E. State St., Ithaca, N. Y. Gentlemen. — In response to your inquiry con- cerning the financial management of Purdue Univer- sity, dated Sept. 12th, and forwarded to me, permit me to reply as follows : First— I know of no judicial determination upon the question which you raise. 35 Second — Purdue University, I,aFayette, Indiana. Third— Yes. Fourth — All the proceeds of the fund without diminution is paid to the University. Fifth and Sixth — The fund was, originally, in the hands of the Trustees of the University. The State subsequently took the money, under an Act of the Legislature and issued therefor a non-negotiable 5 per cent, bond, interest payable quarterly to the Treasurer of the University. Seventh — Three hundred and forty thousand dol- lars, f 340,000. Very truly yours, JAS. H. SMART, President. STATE OF MICHIGAN. Auditor General's Office, Lansing, Sept. 20, 1889. Messrs. Halliday & Finch, Attorneys for Cornell University, Ithaca, N. Y. Your circular letter of 12th to the State Treasur- er has been referred to this Department. As there was sufficient public land in Michigan, from which the donation made by the Acts of Con- gress of July 2nd, 1862, could be selected, Michigan 36 had no "Scrip," but selected the lands and assumed the care and sale of them, and the management of the resulting fund. Sales, except where the parcels were mainly valued for timber, (in which case full payment is required,) are made on payments of % of the price down, the balance to remain perpetual if desired on interests of 7 per cent, payable annually. In case of delinquency in payment of interest on unpaid balance, the land reverts to the State, and is resold, all paj-ments, both of principal and interest, received on the first sale being forfeited to the fund. The amount received on principal is loaned perpet- ually to the State on book account at 7 per cent, per annum, payable quarter yearly. The interest paid by the State and received from the purchasers on un- paid balances, is quarter yearly placed in the hands of the State Board of Agriculture which is the Man- aging Board of the Michigan Agricultural College, which is the sole beneficiary under the grant. All expenses of the care of the lands and resulting funds are met from the general revenue of the State. Reference is had to pages 1401, 1402 and 1403, Volume 2, Howell's Annotated Statutes of Michigan, for the law bearing upon the subject. At the close of the last fiscal year, June 30th, 1889, the net proceeds of sale of lands on which the State pays interest, was 1357,619.20. The amount of interest paid by the State on the fund loaned to it during said year, was $24,551.32. The net interest received during the same year from purchasers on impaid balances, was $6,771.37. Income for interest fund during year, 131,322.69. 37 At the close of said fiscal year there remained of the grant 114,094.61 acres still unsold. There has been no judicial construction in this State, of the laws relating to the care and rnanage- ment of the grant or resulting funds. Very respectfully, H. R. PRATT, Dep. and Gen'l. WISCONSIN. I575 35 Total Fund, Dec. 31, 1871, $350,000 00 The sale of U. S. Bonds, in the fund, at a premium, increased it . . . 10,067 4° Making a total fund of $360,067 40 which remained unchanged until Dec. 31, 1881. In 1882, owing to the downward tendency of interest on investments, it was deemed advisable to separate the "Agricultural College Fund" into two parts, containing the grant from the United States and a grant from the Commonwealth respectively, in order that five per cent, on the investment of the United States grant should be assured. The one part was called the "Technical Education Fund, United States Grant," and the other the "Technical Educa- tion Fund, Commonwealths Grant," and they so remain. The "United States Grant" amounted at that time to $219,000 and was invested in Boston and 43 Albany 5 per cent. 20 year R. R. bonds ; this fund has remained unchanged from that time (1882.) The "Commonwealth Grant," amounted in 1882 to $141,575.35 and is still of that amount. Answering the questions in your circular in regu- lar order, and remarking that the answers apply only to the part of the fund which came from the U. S. Grant, I have to say : First — No "judicial determination or construc- tion of said Act of Congress" in this State has come to the knowledge of this department Second — The Massachusetts Agricultural College and the Massachusetts Institute of Technology. Third — Massachusetts will no doubt pay the full five per cent, income, whether the fund earns it in full or not, but the actual income from investments has so far, never fallen below five per cent. Fourth — The State Treasurer is also treasurer of the fund, and the management, superintendence, etc., is included in his duties and covered by his salary as Treasurer of the Commonwealth ; no commissions or premiums have been paid on securities purchased for this fund, therefore, the gross income goes to its ben- eficiaries. Fifth — The fund is invested in Boston and Albany R. R. 5 per cent, bonds. Sixth — The fund has, from the beginning, been entirely in the control of the State, and can not be transferred without legislative action. Seventh — Two hundred nineteen thousand dol- lars. ($219,000.) 44 Trusting the iiiforinatiou will meet your wants, I am, Yours truly, GEO. A. HARDEN, Treasurer. By John Q. Adams, Pr. Clerk. OHIO STATE UNIVERSITY. Board of Trustees. Thos. J. Godfrey, President, Celina. David M. Massie, Vice-President, Chillicothe. H. J. Booth, Columbus, Thos. A. Cowgill, Kenard, R. B. Hayes, Fremont. Jos. H. Brigham, Delta. L. B. Wing, Newark. Alexis Cope, Secretary, Columbus. Columbus, Ohio, Feb. 3, 1890. Halliday & Finch, Ithaca, N. Y. Gentlemen. — I regret that I did not receive your circular of Sept. 12, 1889, and your letter of Jan. 9, 1890, to the Auditor of State of Ohio, sooner. They have just been referred to me, and I hasten to answer your inquiries, hoping it may be in time to be of service. 45 First — There has been in Ohio, no judicial deter- mination or construction of the Act of Congress, known as the "Land Grant Act." Second — This institution is the sole beneficiary in this State of the grant mentioned in said act. Third — The fund received from the sale of the Land Scrip, was paid into the State Treasury and made a part of the irreducible debt of the State, up- on which the State pays the institution 6 per cent, interest semi-annually, without deducting for any cause, or on any account. This answers also your fourth and fifth inquiries. Sixth — The principal of the fund remains undi- minished, and, by the terms of the law proxdding for its custody, must remain so forever. The State has never entrusted its management to the beneficiary or to any person for it. The original fund was $342,450.80. It has been increased by unused interests, and from other sources until it is now $541,132.44. I should perhaps explain that under the law pro- viding for its safe keeping, the interest is to be drawn Jan. ist, and July ist. If at any of these rests, any interest remains unpaid, it is added to the principal of said fund and draws interest from that date. I would be pleased to have the decision of your courts on the questions raised in the friendly suit you mention in your circular above referred to, and will be pleased to give you further information if desired. Yours truly, ALEXIS COPE. 46 NEVADA. I,AW OFFICES OF HALLIDAY & FINCH, 22 East State Street, Ithaca, N. Y. Sept. i2tU, 1S89. To THE Treasurer of the State of Nevada. Dear Sir.— In 1862, the Congress of the United States passed an Act ; " Donating public lands to the several states and territor- ies which may provide Colleges for the benefit of Agriculture and Mechanic Arts, " and apportioning to each State public lands or laud scrip equal to thirty thousand acres for each Senator and rep- resentative in Congress. The State of New York made Cornell University, at Ithaca, N. Y. , the sole beneficiary of the fund derived by it from the said lands or land scrip. There is now pending between Cornell University and the State of New York, an entirely friendly action, in which both sides ask for a judicial construction of many provisions of said Act of Congress, and a determination of the obligations and relations of the State to the said fund. It is deemed desirable to ascertain as far as possible what has been the actual practice in the various States and Territories in regard to the management of said Agricultural Land Scrip Fund. As ever3' State will be interested in the decision in the above case, we venture to make the following inquiries in regard to the man- agement and condition of the fund in your State : First — Has there been any Judicial determination or construc- tion of said Act of Congress in your State? If so, can you inform us where the decision is reported, and as to its general nature ? Answer — No. Second — What institution is the beneficiary in your state ? Answer — Nevada State University. Third — Does your State pay to the said beneficiary the full 5 per cent, income contemplated by said Act of Congress, whether the fund actually earns 5 per cent, or not ? Answer — More. 47 Fourth — Does your State pay out of its general funds all the "Expenses of the management, superintendence, &c.," of said fund, such as commissions, premiums on securities, &c. ; or are these expenses taken from the actual income of the fund, and the balance of said income only turned over to the beneficiary ? Answer — There has been no expense. Fifth — Briefly and in general terms, please give us the nature of the securities in which the fund is invested. Answer — U. S. # per cent, bonds and Nevada 4 per cent, bonds. Sixth — Has the State ever parted with the custody of any of the principal of said fund ; or intrusted its management to the beneficiary, or to any other person for the beneficiary ? Answer — No. Seventh — What is the amount of the principal fund in your State? Answer — fpj,ooo, about. If you, as Treasurer of your State, are not the proper person to furnish the above information, will you kindly see that this communication is handed to the proper officer or department ? An early answer is much desired. Very truly yours, HALLIDAY & FINCH, Att'ys for Cornell University, Ithaca, N. Y. Carson City, Nevada, Sept. 23, 1889. Messrs. Halliday & Finch. By request of the State Treasurer, I have written answers to the questions above set forth. Respectfully, J. F. HALLOCK, State Comptroller. 48 COMMONWEALTH OF PENNSYLVANIA. EXECUTIVE CHAMBER. Harrisburg, Oct. i, 1889. Messrs. Hallid ay & Finch, Attorneys, etc., Ithaca, N. Y. Gentlemen. — Your circular letter of the 12th instant has been handed me by the State Treasurer, with the request that, inasmuch as I am familiar with the subject therein referred to, I make reply thereto to you. I reply to your interrogatories in their order: First — There has never been any judicial deter- mination or construction of the Act of Congress of 1862, in Pennsylvania, for the reason that there has been no necessity of any kind for judicial utterance in relation thereto. Second — The Pennsylvania State College, Centre Co., Pa., is the beneficiary of the Land Scrip Fund. Third — Our State pays to the beneficiary, six per cent, interest upon the full amount of money re- alized from the sale of the Land Scrip, together with a considerable amount in excess thereof appropriated by the Legislature. Fourth — There are no expenses of management, superintendence, etc. , of the said fund necessary to to be paid. My recollection is, that all the expenses of management at the time that a commission was organized for the purpose of making sale of the Land Scrip, were paid by the State. Fifth — The entire fund in the hands of the Land Scrip Commissioners, together with about $94,000 49 were invested in the bond of the Commonwealth, amounting to 1500,000, with interest at 6 per cent, payable semi-annually, which is regularly paid to the trustees of the Pennsylvania State College. Our Land Scrip was sold in the open market, averaging some 55 cents per acre. The money realized from this sale was originally invested in government bonds. They, together with the premium and interest there- on when sold, amounted to something over $400,000, but in view of the fact that the Scrip had been sold at a very low price, the State made an appropriation as above recited, and made the bond $500,000. Late- ly, Experimental Farms which had been established in connection with the State College in the Eastern and Western parts of the State, and which were not accomplishing what had been hoped therefrom, were sold and the proceeds thereof, namely : $17,000, were added to this fund, upon which the State also pays six per cent, interest per annum. The amount of the endowment fund of the Col- lege therefore, arising from the Land Scrip Fund and the addition made thereto by the State, is $517,000, secured as already .stated by the bond of the Com- monwealth itself, payable about 1920. The State never parted with any portion of the principal of the fund, nor did it entrust the manage- ment to the beneficiary or to any other person for the beneficiary. A special Land Scrip Commission was appointed by the Legislature, consisting of the Governor, the State Treasurer, and the then Surveyor-General, who had the management of the fund until its proceeds were turned into the sinking fund, and the bond of the State given as above referred to. 50 This, I think, answers all your inquiries fully and explicitly. If there be any other question relat- ing to the subject which I can answer, it will give me pleasure to respond more fully. Very cordially yours, JAMES A. BEAVER. TENNESSEE. State Department of Agriculture. Office of B. M. HORD, Commissioner. Bureau of Agriculture, Statistics, Mines and Immigration. Nashville, Tenn., Sept. 20, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Yours of 12th, inst., to Treasurer of the State, has been referred to this office for reply. The fund derived from the sale of the Land Scrip received from the General Government, was invested in bonds of the State aggregating #403,500. These bonds are in custody of the Board of Trustees of the University of Tennessee at Knoxville. The State pays to the Treasurer of the Board of Trustees of the U. of T., $12,105, semi-annually, or 6 per cent, per 51 annum on the fund. If any expenses of the manage- ment, superintendence, etc., of this fund are any- where charged or incurred, such expenses inure after the State has paid the money. Respectfully yours, etc. , B. M. HORD, Commissioner. V. VERMONT. LAW OFFICES OF HALLIDAY & FINCH, 22 East State Street, Ithaca, N. Y. Sept. 1 2th, 1889. To THE Treasurer of the State of Vermont. Dear Sir. — In 1862, the Congress of the United States passed an Act ; " Donating public lands to the several states and territor- ies which may provide Colleges for the benefit of Agriculture and Mechanic Arts," and apportioning to each State public lands or land scrip equal to thirty thousand acres for each Senator and rep- resentative in Congress. The State of New York made Cornell University, at Ithaca, N. Y., the sole beneficiary of the fund derived by it from the said lands or land scrip. There is now pending between Cornell University and the State of New York, an entirely friendly action, in which both sides ask for a judicial construction of many provisions of said Act of Congress, and a determination of the obligations and relations of the State to the said fund. It is deemed desirable to ascertain as far as possible what has been the actual practice in the various States and Territories in regard to the management of said Agricultural Land Scrip Fund. 52 As every State will be interested in the decision in the above case, we venture to make the following inquiries in regard to the man- agement and condition of the fund in your State : First — Has there been any Judicial determination or construc- tion of said Act of Congress in your State ? If so, can you inform us where the decision is reported, and as to its general nature ? Answer — None. Second^What institution is the beneficiary in your state ? Answer — Agricultural College. Third — Does your State pay to the said beneficiary the full 5 per cent, income contemplated by said Act of Congress, whether the fund actually earns 5 per cent, or not? Answer — Yes at 6 per cent. Fourth — Does your State pay out of its general funds all the "Expenses of the management, superintendence, &c.," of said fund, such as commissions, premiums on securities, &c. ; or are these expenses taken from the actual income of the fund, and the balance of said income only turned over to the beneficiary ? Answer — No expenses. Fifth — Briefly and in general terms, please give us the nature of the securities in which the fund is invested. Answer — Money used by the Slate and Registered Bonds issued, bearing 6 per cent. Sixth — Has the State ever parted with the custody of any of the principal of said fund ; or intrusted its management to the beneficiary, or to any other person for the beneficiary ? Seventh — What is the amount of the principal fund in your State ? A nswer — $135,500. If you, as Treasurer of your State, are not the proper person to furnish the above information, will you kindly see that this communication is handed to the proper oflncer or department ? An early answer is much desired. Very truly yours, HALLIDAY & FINCH, Att'ys for Cornell University, Ithaca, N. Y. 53 STATE FINANCES. Statement showing the revenue and disbursements of the State of Vermont for the fiscal year ending July 31, 1889. * * * * * * * Disbursements. Amount of Income Bennington Battle Monument Fund paid to I/. R. Graves, Treasurer, I655 30 Extra State pay to Soldiers, 9 79 Experiment Station Appropriation, . . 3) 500 00 Gettysburg Appropriation, on account of 9,323 90 Temporary Loans, Act of 1886, paid, . 85,000 00 " " " 1888, " . 30,000 00 Auditor's Orders, paid, 452,729 54 Debentures, General Assembly, 1888, . 55,424 30 Interest On Registered Loan, 1890, $8,130 00 Temporary Loans, .... i,494 65 To Towns, Hunt' gton Fund, 12,19732 " U. S. Surplus Money, 754 68 22,576 65 Paid West Fairlee Savings Banks under Act No. 282, 1888, 171 83 Cash in Banks, 33,8i3 83 Cash on hand, 2,349 58 Total, $695,554 72 Resources. Cash on hand and in Banks, $36, 163 41 Estimated amount from tax from corporations for 1889, ......... 240,000 00 54 Estimated amount of State tax of twenty cents on the dollar on Grand List of 1889, due Nov. 10, 1889, 350,000 00 #626,163 41 Liabilities. Due Towns, U. S. Surplus Fund, 12,916 37 Dtiesoldiers unpaid balances 8,350 18 Due on Gettysburg appro- priations, 6,556 10 Temporary Loans, outstand- ing Aug. i, 1889, . . 143,16500 170,98765 Leaving available for the current fiscal year, #455,175 76 The Agricultural College Fund, represented by Registered Bonds of the State, due June I, 1890, $135,500, Is extended by Act No. i, of the Laws of 1888, for the period of twenty years. WM. H. DUBOIS, Aug. I, 1889. State Treasurer. ******* VERMONT PUBLIC ACTS. Sec. 6. So much of Act 109, of the laws of 1886, as authorized the Treasurer of the State to bor- 55 row money, on the credit of the State, is hereby repealed. Sec. 7. The Treasurer of this State is hereby authorized to reissue to the Agricultural College Fund, now held in trust by the State, one hundred thirty-five thousand five hundred dollars in certifi- cates of the registered loan of this State, which shall be made redeemable at the Treasury Office on the first day of June, A. D. , 1910, on which the interest shall be six per cent, per annum, and payable semi- annually on the first days of June and December in each year, at the Treasurer's Ofiice. Said loan shall be inscribed on the books of the Treasurer's Office, and also in the books of the office of the Secretary of State, and the certificates thereof shall bear the seal of the Treasurer's Office, the signatures of the Treas- urer and Secretary of State, and be in such form as the Treasurer shall prescribe. Sec. 8. The Treasurer of this State is here- by directed on the first day of June, 1890, to cancel the certificates of the registered loan of this State now in his custodj^ belonging to the Agricultural College Fund. Sec. 9. This Act shall take effect from its passage. Approved November 27, 1888. 56 UNIVERSITY OF NEBRASKA, OFFICE OF STEWARD AND SECRETARY. Lincoln, Neb., Nov. i6, 1889. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Your circular letters, addressed to the State Treasurer, have been referred to me for reply. In reply to your first question — There have been two cases decided in the Supreme Court of this State with respect to the funds of the College of Agricul- ture and Mechanic Arts, as described in the Act of Congress of 1862, which in this State is one of the Colleges of the State University. See 9th. Nebraska, 470, State ex rel. McLean vs. Liedtke and ijtli Ne- braska, 612, State ex. rel. Bessey vs. Babcock. In reply to your second question — The College of Agriculture and Mechanic Arts, now called the Industrial College of the University of Nebraska, is the beneficiary. In answer to your third question — No. In answer to your fourth question — The State pays from its general fund the expenses of the man- agement, etc., of the lands, funds, etc., and none of these expenses are taken from the permanent or tem- porary funds of the College. Under the Constitution of this State, and the decisions of the Supreme Court above cited, it requires a specific Legislative appropriation of this money, before it can be used by the institution. In answer to your fifth question — The moneys accruing to the permanent fund have so far been 57 invested in the precise kind of securities provided for by the Act of Congress. In answer to your sixth question — No. In answer to your seventh question — The last bi-ennial report of the State Treasurer, showed on hand November 30th, 1888, to the credit of the per- manent endowment fund of the Agricultural or Industrial College, $39,504.52. The State Treasurer is the only person who can give you the exact figures at this date. For the law of Nebraska relating to the leasing, selling and management of educational lands and management of the funds arising there- from, see the Compiled Statutes of Nebraska, 1887, pages 678-685. Yours very truly, J. S. DALES, Steward and Sec'y. STATE OF CONNECTICUT. SCHOOL FUND DEPARTMENT. Jeremiah Olney, Commissioner. Hartford, Sept. 23, 1889. Halliday & Finch, 22 East State Street, Ithaca, N. Y. Gents. — Yours of the 12th inst, in reference to an Act of Congress, donating certain lands to 58 States and Territories, as provide Colleges for the benefit of Agriculture and the Mechanic Arts, etc. , addressed to the Treasurer of this State, has been handed in to this department to reply. I answer the questions proposed in the order named by you : First— No. Second — Yale Scientific School, through a con- tract with the State, by the President and Fellows of Yale College. Third— Yes, Fourth — Expenses of management, superintend- ence, etc., paid out of the General Funds of the State. None from the income. Fifth — In bonds secured by mortgages upon Real Estate and in Town Bonds in this State. Sixth— No. Seventh — $135,000.00. Resp'y yours, JEREMIAH OIvNEY, Commissioner. By C. O. Spencer, Chief Clerk. 59 NORTH CAROLINA. TREASURY DEPARTMENT. Raleigh, September i8, 1889. Messrs. Halliday & Finch, Attorneys, etc., Ithaca, N. Y. Dear Sirs. — Vour circular letter of 13th iust. received to-day. I reply in a general way : Under Act of our general Assembly, February II, 1867, the Land Scrip was transferred to the State University, for the purpose of effecting the object of the grant. It was sold for $125,000, and the Univer- sity has received the benefit of an annual interest thereon of six per cent, from the State since 1874. Under Act of 1887, said interest will be paid hereafter to the College of Agriculture and Mechanic Arts to be opened next month. The investment is in the nature of a certificate of indebtedness issued by the State Treasurer to the Trustees of the University by authority of Chapter 352, Acts of i874-'75. The certificate will soon be transferred to the College of Agriculture and Mechanic Arts. Very respectfully, D. W. BAIN, State Treasurer. 6o SOUTH CAROLINA. KXECUTIVE DEPARTMENT. OFFICE OF STATE TREASURER. Columbia, S. C, Sept. 19, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Your circular of 12th inst. con- cerning the Act of Congress, donating public lands to the several States and Territories, which may pro- vide Colleges for the benefit of Agriculture and the Mechanic Arts, has been received, and I answer your questions as follows : First — There has been no judicial determination or construction of said Act of Congress in this State. Second — The State University is the beneficiary in this State. Third — This State pays 6 per cent, on said fund. Fourth — There is no expense attending said fund, therefore the beneficiary gets all the interest. Fifth — An Act of 1879, page 86, provides for the investment and use of the Agricultural College Fund; said Act says that the State Treasurer is required to issue to the Board of Trustees of the University of South Carolina, a certificate of State stock in the sum of one hundred and ninety-one thousand eight hundred dollars, (191,800) bearing interest at the rate of 6 per cent, per annum, from July 1st, A. D., 1879, payable semi-annually, to be held by the University of South Carolina, as a perpetual fund, (the capital of which shall remain forever undiminished,) to be used by said Board of Trustees solely for the purposes for 6i which the said Land Scrip as originally donated by the Acts of the Congress of the U. S. , in relation thereto. The said certificate of stock to be held in lieu and stead of the Agricultural College bonds, formerly constituting the Agricultural College fund under the said Acts of Congress, and the Acts of the General Assembly of the State, in relation to the same, and heretofore used by the financial agent for General State purposes. Sixth — The State has never since 1879, parted with the custody of any of the principal of said fund nor has its management been intrusted to any other person or persons. Seventh — As stated above the amount of the principal fund in this State is one hundred and nine- ty-one thousand eight hundred dollars. (191,800.) Above I have given you as full a description of the fund about which you ask, as I could in limits of this letter. If I can throw any further light on the sub- ject, I will be pleased to attempt to do so if you desire it. Yours respectfully, E. R. McIVER, State Treasurer, S. C. 62 STATE OF KANSAS. OFFICE OF ATTORNEY GENERAL. Topeka, Sept. 25, 1889. Messrs. Halliday & Finch, 22 E. State St., Ithaca, N. Y. Gentlemen. — Your favor of the 12th inst. to the State Treasurer, making inquiries as to the man- agement of the Agricultural Land Scrip Fund of the State of Kansas, was by him referred to this ofiice. I referred the same to Pres. Geo. T. Fairchild, of the State Agricultural College, and he has furnished me with the following answers which I adopt and transmit to you : First — I know of no judicial decisions, bearing upon the Act of Congress named, within our State except upon the question of taxability of lands under contract for purchase but not yet patented. Our Courts decided that sale upon contract makes the land taxable so long as the contract is valid. Second — The Kansas State Agricultural College created by Act of Legislature, of which the Board of Regents "appointed by the Governor with the advise and consent of the Senate," constitutes the body corporate. Third — The fund has never yet earned less than six per cent. Fourth — The Legislature appropriates from year to year, for all general expenses of management, including Regents, expenses and salary, and incidental expenses of a loan commissioner, appointed by the 63 Board according to law. Premiuns on securities, if paid, come from the income produced. Fifth — All investments have been in Kansas se- curities. August 31st last, the fund held in the State Treasury, embraced the following : School district bonds, $270,66923 Other municipal bonds, 193,50000 Personal contracts for land, 17,925 75 Uninvested balance, i9)33i 36 501,426 33 Sixth — The State has never put the control of this fund in any other than officers of the State ; but it has made different officers at times responsible for its safe keeping and investment. Since 1883, the fund has been held by the State Treasurer, but the investment is under the control of the Board of Regents, through a Loan Commissioner and a Secretary appointed by that body. Prior to 1883, the fund itself was for many years in the keeping of the Treasurer of the Board of Regents. Seventh— $501,426. 33. Yours respectfully, h. B. KEIvIvOGG, Attorney General. 64 TERRITORY OF DAKOTA. treasurer's office. J. M. Bailey, Jr. , Treasurer. Bismarck, Sept. 19, 1889. Messrs. Halliday & Finch, Ithaca, N. Y. Gentlemen. — Your circular 12th inst. received. The Territory has no title as yet to the public lands set aside for donation, and so far as I can find there has been no construction of the laws on the subject. I send this mail copies of the constitutions, to be voted on next month which contain the laws that we expect will govern us in the future, except where they may conflict with the Acts of Congress. Respectfully yours, J. M. BAILEY, JR., Treasurer. C. Constiti;tion North Dakota. Sec. 159. All land, money or other property donated, granted or received from the United States or any other source, for a University School of Mines, Reform School, Agricultural College, Deaf and Dumb Asylum, Normal School or other educational or char- itable institution or purpose, and the proceeds of all such lands and other property so received from any source, shall be and remain perpetual funds, the in- terest and income of which, together with the rents of all such lands as may remain unsold, shall be un- 65 violably appropriated and applied to the specific objects of original grants or gifts. The principal of every snch fund may be increased but shall never be diminished, and the interest or income only shall be used. Every fund shall be deemed a trust fund held by the State, and the State shall make good all losses thereof. Constitution South Dakota. Sec. 7. All lands, money or other property donated, granted or received from the United States or auy source for a University, Agricultural College, Normal Schools or other educational or charitable institution or purpose, and the proceeds of all such lands and other property so received from any source, shall be and remain perpetual funds, the interest and income of which, together with the rents of all such lands as may remain unsold, shall be inviolably ap- propriated and applied to the specific object of the original grants or gifts. The principal of every such fund may be increased, but shall never be diminished, and the interest and income only shall be used. Every such fund shall be deemed a trust fund held by the State, and the State shall make good all losses there- from that shall in any manner occur. STATE OF MISSISSIPPI. TREASURY DEPARTMENT. W. L. Hemingway, State Treasurer. Jackson, Miss., Nov. 2, 1889. Messrs. Hai:,liday & Finch, Ithaca, New York. Gentlemen. — Answering yours of the 26th ul- timo, with enclosed circular containing seven ques- 66 tions touching the Agricultural College fund of Missis- sippi, under Act of July 2nd, 1862 ; its management etc., I will say : To First question — Two of our Supreme Judges, (Campbell and Cooper,) say None. To Second question — Alcorn University at Rod- ney and the University of Mississippi, at Oxford Mississippi, were the first beneficiaries, but latterly the former under the name of The Alcorn A. and M. College, and the Miss. A. and M. College, at Stork- ville. Miss., became beneficiary to the exclusion of the University of Miss. To Third question — Yes, besides increasing the interest bearing fund. To Fourth question — The State manages the fund without scalage for expenses etc. To Fifth question — The Governor got 207,920 acres Laud Scrip, and in 1872, sold it for $188,028.00. This amount is the principal capital, (as we construe the 4th Sec, Congressional Act of July 2nd, 1862,) which can not be diminished except that ten per cent, thereof may be used to buy lands for experi- ment stations. It was invested in Miss. 8 per cent, bonds (purchased at a discount) in 1872, and (after paying 5 per cent, to beneficiaries annually,) re-in- vested in 5 per cent. Miss., bonds, Jan. ist '76. These bonds aggregate $227,150.00, $15,000 of which were sold in 1883, to buy lands for the Miss. A. and M. College at Storkville, Miss., and thus the interest bearing fund for the beneficiaries is $212,150. The 5 per cent, interest thereon, goes annually to the two beneficiaries. However, $13,000 was expended for lands for the Alcorn University, prior to the purchase 6? of the $227, 150 in 1876 ; the same being part of the profit of the first investment. To Sixth question — No. To Seventh question— 1 188, 028. See answer to fourth question. ******* Note.— The next page wliich is lost, contained nothing im- portant. S. D. H. STATE OF KENTUCKY. Office Auditor of Public Accounts. Frankfort, October 29, 1889. Halliday Sl Finch, Ithaca, N. Y. Gentlemen. — Your favor of 26th inst., address- ed to the Treasurer, has been handed to me for answer, which I do in the order of your questions in circular letter enclosed : There has never been any judicial determination or construction of the Act in question in this State. The Kentucky University, located at Lexington, is the beneficiary. The amount derived from the sale of lands was invested partly in realty, and the remainder, $165,000, was invested in State Bonds, which bear six per cent. The State, by a special tax of one half cent upon each f 100 of valuation, contributes a fund of about ^{525,000 per year to this institution. 68 Tliere is no charge on the part of the State for the expenses of management — or commissions, pre- miums etc., — of this fund. The management of this fund is in the hands of a Board of Regents. The bonds in which the money is invested are in the custody of the Auditor, whose duty it is to pay at the end of each six months the interest falling due. Anything further in regard to this matter, I will be glad to answer at any time. Yours truly, FAYETTE HEWITT, Auditor. TREASURY DEPARTMENT, STATE OF FLORIDA, treasurer's office, Tallahassee, October 29, 1889. Messrs. Halliday & Finch, 22 East State Street, Ithaca, New York. Dear Sirs. — Replying to the inquiries contain- ed in the circular enclosed in your letter of the 26th inst.,I will say : First — That there has not been any judicial de- termination or construction by the courts of this State of the Act of Congress, donating public lauds to the several States and Territories, which may pro- vide Colleges for the benefit of Agriculture and the Mechanic Arts. 69 Second— The State Agricultural College is the beneficiary of the fund arising from the sale of tlie lands donated by the Act of Congress to this State. Third — The fund is invested in State bonds and the income exceeds 5 per cent., hence no question has yet been raised as to the liability of the State to make good any deficit in the income below the 5 per cent, contemplated by the Act of Congress. Fourth — There are no expenses attached to the management, superintendence, etc., of said fund in the way of salary or commissions to a Treasurer, as the State Treasurer is the Treasurer of the fund with- out compensation of any kind. Of course where bonds are purchased for the fund, whatever premiums may be paid is charged against the fund. Fifth — The Agricultural College Fund is invest- ed as follows : Jan. ist, 1889. Consolidated Florida 6 per cent, bond, $131,900 00 Consolidated Florida 7 per cent, bond, 3,900 co North Carolina 6 per cent, bonds, . . . 10,000 00 North Carolina 4 per cent, bonds, . . . 8,000 00 Note secured by mortgage, 2,000 00 Dec. 31, Bonds and mortgage in fund . 1155,800 00 Sixth — The entire fund is held in trust by a Board of Trustees of which the State Treasurer is a member, and he is the Treasurer of said Board. All the interest arising from the principal of said fund is applied to the maintenance of the State Agricultural and Mechanical College. 70 Seventh — The amount of the principal of said fund is 1155,800.00. I am very truly, F. J. PONS, State Treasurer. STATE OF GEORGIA. TREASURY DEPARTMENT. R. U. Hardeman, W. J. Speer, Assistant. Alanta, Ga., Oct. 31, 1889. Haluday & Finch, Ithaca, N. Y. Dear Sirs. — Replying to yours of 26th, we have never had any judicial determination or construction of the Act. The proceeds from sale of the Land Scrip donated by the General Government, was given to the State University, which has a branch of Me- chanical Arts and department of Agriculture. The State pays to the University annually, 7 per cent, interest on the fund arising from sale of the Land Scrip ; the amount of such fund is $243,000.00, and the interest paid on same each year $17,000.00. Yours truly R. U. HARDEMAN, H. 71 secretary's office, IOWA AGRICULTURAL COLLEGE. Ames, la., Jan. 25, 1890. Haluday & Finch, Ithaca, N. Y. Dear Sirs. — In answer to your favor of 9th inst. , would say : First — The Supreme Court of Iowa has decided that since the State would be called upon to pay taxes on the land derived under the Congressional Act, said lands are non-taxable even when leased with the right of purchase. No other decisions bearing on the law. Second — All of the fund goes to the Iowa State Agricultural College. Third — The College has always been able to realize more than five per cent, on its investment. Congress passed a special Act by which Iowa is allow- ed to invest the fund in farm mortgages. Fourth — In the loaning of the endowment fund, the State pays the salary and expenses of the agent. (See Sec. 6 page 8 of pamphlet.) Under the expense clause, the Auditor of State has so far allowed and paid all of the expenses of the office, including ex- change, recording of mortgages and releases, fore- closure of mortgages, etc. The State appropriates $1,000 annually for the repair of buildings and for Jtecessary expenses incurr- ed in the management of College Lands. (See Sec. i. Chapter 67 on page 13 of pamphlet). You will notice that the law in relation to the management of the land department found on page 9 of pamphlet, does not provide for the payment of salary of land agent. 72 The Board of Trustees allows the agent to charge the leasee fees as follows : $14 for making lease ; #1 per annum for collecting rental ; and $3 for procuring patent. This method is recognized by all as in con- flict with the law, but it seems necessary since the State has made no provision for meeting its obliga- tion in this case. In enacting a new law, the Legis- lature would probably provide for the payment of 'Salary of land agent from the General State Fimd, as it has done in the case of the financial agent who negotiates loans. All expenses of the land depart- ment other than salary of agent, are paid from the f 1,000 annual appropriation mentioned above. Fifth — The enclosed statement marked Exhibit "A" will show you how the funds of the College are invested. Sixth — No sir. Seventh — The endowment of the College as shown in Exhibit "A" is $649^396.16. This fund has been derived from the following sources : From the Congressional land grant, . $582,716 65 From transfer and investment of interest fund, 66,679 51 $649,396 16 I send you pamphlet containing laws relating to the management of the endowment fund. As soon as our bi-ennial report is issued, — which will be in a few days — I will send you copy. It will give full statement in regard to all of the College Funds. When the suit you mention is decided we shall be pleased to be informed as to the result. Very truly yours, E. W. STANTON, Secretary. 72 Exhibit A. The following statement shows the condition of the lands and funds which constitute the endowment of the College : Land under lease, 85,724.89 acres . . . $278,28705 Land not under lease, 2,319.94 acres . . 10,395 25 Proceeds of sales of endowment fund land 321,473 86 Proceeds of sales of land purchased with interest money 20,640 00 Amount transferred from interest fund 18,600 00 Total endowment fund $649,396 16 The lands and funds 3'ielding income are as follows : Land under lease, eight per cent, pay- able in advance with option of pur- chase or renewal of lease at original appraisment $278,287 05 Amount invested in bonds at six per cent 5,500 00 Amount invested in farm mortgages at eight per cent 238,500 00 Amount invested in farm mortgages at seven per cent 101,665 00 Total investments $623,952 05 The lands and funds not yielding income are as follows : Lands not yielding income $10,39525 74 Cash in hands of State Treasurer await- ing investment 8,473 ^^ Cash in hands of financial agent await- ing investment 6,500 00 Cash in hands of College Treasurer, awaiting investment 75 00 Total amount uninvested $25,444 11 STATE OF MINNESOTA. auditor's office, I.AND DEPARTMENT. St. Paul, Jan. 18, 1890. Haluday & Finch, 22 East State Street, Ithaca, N. Y. Genti,emen. — Your circular letter of Sept. 12, 1889, directed to our State Treasurer, has been placed in my hands for answer. I will endeavor to answer each proposition or interrogatory by itself. As to the First — I answer no. Second — Our State University. Third — Our fund draws interest at 41^, 5 and 7 per cent. , aggregating over 5 per cent. , consequently the question of making up deficiency not raised. Fourth — All expenses paid out of State Revenue Fund. 75 Fifth — Lands sold on 30 years time, contracts drawing 7 per cent, and 5 per cent. , also some Min- nesota State Bonds, drawing 4^ per cent. Sixth— No. Seventh — #526,837.96. Lands not all sold. Yours truly, W. W. BRADEN, Auditor. DELAWARE COLLEGE. Beautiful and Healthful Location. Five Full Courses of Study. — Classical, Latin-Scien- tific, Scientific, Engineering and Agricultural. Dr. A. N. Raub, President. Newark, Del., Feb. 10, 1890. Messrs. Halliday & Finch. Dear Sirs. — The enclosed circular has finally drifted into my hands. I will answer, as far as pos- sible, the questions in the order given. First — I think there has been no judicial con- struction of the Act in this State. Second — Delaware College. Third — The State pays the College 6 per cent. , as the money received for the Land Scrip is invested • in 6 per cent State bonds. 76 Fourth — There are no expenses of management, etc. , as the State Treasurer simply pays to the Col- lege Treasurer, the interest semi-annually. Fifth — Answered in third. Sixth — No ; no. MARYLAND AGRICULTURAL COLLEGE. PRESIDENT'S OFFICE. Agricultural College R O., Md., Feb. 22, 1890. Messrs. Halliday & Finch, Attorneys for Cornell University Ithaca, N. Y. Gentlemen. — Your letter of yesterday received. I take pleasure in replying to your circular letter of Sept. 12, 1888, and would have done so long ago had that been addressed to the College or to me. First — No judicial determination or construction in Mi. of the Morrill Act of July 2, '62. Second — The Maryland Agricultural College, an institution chartered in 1856, and put into operation in 1858, its foundation and funds privately con- tributed. Third — No. College receives what the fund earns, but it is actually over 5 per cent. Fourth — Yes, thus far the fund has not been tax- ed or burdened with expenses. Fifth — 210,000 acres of Land Scrip sold for $112,504, (always invested in U. S. and Md. State. n Bonds, etc.) Present investment of the fund at face value ; P8,8oo. Ball City 6 per cent. Bonds ; 127,143. Md. State Loan, @ 3 per cent. Total face value ^^'^5i943- Income $6,142. ?9. (Over 5 per cent.) Sixth— Never. State Board of Public Works, Trustees of the Agricultural College Fund. Seventh — As above, $115,943. I shall highly prize the pamphlet you mention as in press. Very respectfully yours, HENRY E. ALVORD, President, etc. COMMONWEALTH OF VIRGINIA. DEPARTMENT OF PUBLIC INSTRUCTION. \oo N. Twelfth Street, Richmond, October 31, 1889. Messrs. Halliday & Finch, 22 E. State St., Ithaca, New York. Gentlemen. — Your letter addressed to the Treasurer of the State of Va. , has been referred to me. The following answers to the questions are from reliable data : First— No. Second — The Va. Agricultural and Mechanical College, Blackburg, Va., for white students, receives two-thirds of the income ; the Hampton Normal and Agricultural Institute for colored, one-third. 78 Third — Yes and more. Fourth— The Va. Agricultural and Mechanical College is supported entirely out of the income from the Land Scrip Fund. There are no commissions or premiums on securities. State Funds have been ap- propriated from time to time for equipments, build- ings, etc. As many as 200 Va. students can be ad- mitted free of tuition. The Hampton School is ex- pending now about $100,000 per year; its income from the Land Scrip Fund is a little over $10,000 annually. Fifth — The 300,000 acres of land falling to Va., was sold at 95 cts. per acre, yielding $285,000. About 10 per cent, of this was expended in the purchase of a College farm, and in the erection of buildings. The balance was invested in Va. State Bonds at about 50 cts. on the dollar. The face value of the bonds thus purchased, is a little over $500, 000. On the face value of these bonds the State has uniformly paid 6 per cent, interest, so that the income to the two insti- tutions, is nearly $31,000 annually. Thus the amount realized from the Land Scrip, deducting the 10 per cent, expended on grounds and buildings, is about 12 per cent. Sixth — No. The fund is managed by a Board of Visitors of each School. The Board of the Va. A. and M. College appointed wholly by the Governor of the State ; a part of the Board of the Hampton School are also appointed by the Governor. Seventh — This question is answered above. Very truly yours, JNO., L. BUCHANAN, Sup't Public Instruction. 79 TULANE UNIVERSITY OF IvOUISIANA. New Orleans, Feb. 26, 1890. Messrs. Haluday & Finch, Gentlemen. — Your letter has been received. I send you a report made by me when I was President of the La. State University, which will give you much (most) of the information on the subject. The fund continues now as it was then. It is a debt on the books of the State. There have been one or two suits, but I do not think they touched any point that would interest you. The defalcation of the late Treasurer, E. A. Burke, or rather his imbezzlement of bonds, consisted in part in a reissue of the bonds of the A. & M. Col- lege, which were ordered to be destroyed. They had, however, been taken up by the State, and do not in anywise affect the book debt due by the State to the La. State University and A. & M. College. If there is any matter on which you wish fuller information, it will give me pleasure to investigate it for you. You might also drop a line to President J. W. Nicholson, Baton Rouge, La., who, I do not doubt, will give you the most recent information. The Hon. Joseph A. Breaux, New Iberia, La., is Supt. of Public Education, and an ex officio (and active) member of the Board of Supervisors. I am Very Truly Yours, WM. PRESTON JOHNSTON. Note. — ^The "Report" referred to in the foregoing communi- cation contained no statistical information of importance except that the ftijids in Louisiana produced an increase of |i4,555-65. S. D. H. 8o NEW JERSEY. No responses Lave been received from several communications addressed to various officers and in- dividuals in the State of New Jersey, but tl:e in- formation sought for is contained in the following quotation from the report of 1888, to the governor by John DeMott, President of the State Agricultural College at New Brunswick, N. J. "In regard to the United States Government Appropriation it should be observed that only scrip for public lands was appropriated. No State was allowed to hold land in any other State ; and as a consequence the scrip had to be sold, leaving the expenses of locating it with the pur- chaser. This took a large share of its regular price of I1.25 per acre. In fact, the New Jersey State Commissioners were obliged to sell it for less than half of that price, the 210,000 acres of Land Scrip only producing a fund of #116,000. This was in- vested in State Bonds, and the annual interest, |6,- 960, is all the income it yields, and this is the sum that is annually paid to the Trustees of Rutger's Col- lege for the support of teachers in the New Jersey State Agricultural College, the State itself having added nothing to the fund or its annual income." By Section 2 of an Act of that State, approved April 13th, 1864, all the expenses of management are directed to be paid out of the general funds of the State. S. D. H. 8i NEW YORK COURT OF APPEALS. JANUARY 14, 1890. The People, ex rel., Cornell University, Appellant, V. Ira Davenport, Comptroller, &c., Res- pondent. OPINION. This is a case agreed upon in a controversy sub- mitted without action. In such submission the fol- lowing are the material facts : On the second day of July, 1862, the United States Congress passed an act donating public lands to the several states and terri- tories which might provide colleges for the benefit of agriculture and the mechanic arts. By such act an amount of public land was apportioned to each state equal to thirty thousand acres for each senator and representative in Congress to which the state might be entitled, and this land was apportioned, as was stated in the act, for the benefit of agriculture and the mechanic arts. This land was to be sold by the state seceiving it and the moneys which were received as the purchase price of such sale, were to be invest- ed by the state in stocks of the United States, or of this state, or in some other safe stocks yielding not less than five per cent, per annum upon the par value of said stock, and the moneys so invested were to constitute a perpetual fund, the capital of which was to remain forever undiminished, and the interest of which was to be by the terms of the act inviolably appropriated to the endowment, support and mainte- nance of at least one college where the leading ob- 82 ject should be to teach such branches of learning as relate to agriculture and the mechanic arts, in such manner as the legislatures of the states might re- spectively prescribe, in order to promote the liberal aird practical education of the industrial classes in the several pursuits and professions in life. By the third section of the act it was enacted that all the expenses of management, superintend- ence, and taxes of the date of selection of said lands previous to sale, aud all expenses incurred in the management and disbursements of the moneys which might be received therefrom, should be paid by the states to which the lands belonged out of the treasury of such states, "so that the entire proceeds of the sale of said lands shall be applied without any diminution whatever to the purposes hereinafter mentioned." The grant of the land by the Congress, under the act above mentioned, was in and by section five of such act, made on the conditions stated therein, and provided that "the previous assent of the several states shall be signified by legislative acts." Among those conditions was one which provided that if any portion of the fund invested or any portion of the in- terest thereon, should by any action or contingencj' be diminished or lost, it should be replaced by the state to which it belonged, so that the capital of the fund should remain forever undiminished : and the annual interest should be regtilar-ly applied, without diminution to the purposes mentioned in the act. It was also provided that no state should be entitled to the benefits of the act, unless it should express its acceptance thereof by its legislature within two years from the date of its approval by the president. 83 On the third of May, 1863, the legislature of the state of New York passed an act (chap. 460, Laws of 1863) entitled "an act relative to the lands granted to this state by the act of Congress entitled "An act do- nating public lands to the several states and territor- ies which might provide colleges for the benefit of ag- riculture and the mechanic arts," approved July, 1862, and the sale thereof and the investment of the proceeds of such sales." By section one of this act the Comptroller of the state was authorized to receive from the authorities of the United States the land . scrip to be issued for the lands granted to the state by the act of Congress above mentioned, and the Comp- troller was to give all necessary receipts and acknowl- edgments for the scrip which might be so received by him. By the second section the Comptroller was au- thorized, with the approval of the ofl&cers named therein, from time to time, as he might deem proper, to sell the said land scrip, or any part thereof, for cash, or for stocks of the United States, or of the states, or some other safe stocks, yielding not less than five per cent, upon the par value of said stocks, and to execute all necessary and proper transfers thereof. By section third of the act the Treasurer was authorized to pay on the warrant of the Comptroller out of any moneys in the treasury, not otherwise ap- propriated, all the expenses of management and sup- erintendence, and taxes, if any, from the selection of said lands previously to their sale ; and also all ex- penses incurred in the management and disbursement of the moneys which might be received therefrom, and of all incidental matters connected with or aris- ing out of the care, management and sale of the said lands ; so that the entire proceeds of the sale of said 84 lands should be applied, without any diminution what- ever, to the purposes mentioned in the said act of Congress. Provision was made by the fourth section for investing the moneys which might be received on the sale of the said lands or land scrip, in stocks of the United States, or of this state, or in some other safe stocks yielding not less than five per centum per annum on the par value of said stocks ; and the mon- ey so invested was ta constitute a perpetual fund, the capital of which should remain forever undiminished, except as provided for in and by the said act of Con- gress. Subsequent to the passage of this state statute and on the 27th day of April, 1865, the legislature passed an act to establish the Cornell University and to appropriate to it the income of the sale of public lands granted to this state by Congress on the second day of July, eighteen hundred and sixty-two, also to restrict the operation of chapter five hundred and eleven of the laws of eighteen hundred and sixty- three. By the sixth section of such act it was provided that the income, revenue and avails which should be received from the investments of the proceeds of the sale of the lands, or of the scrip therefor, or any part thereof granted to this state by the act of Congress (above mentioned) were thereby appropriated to, and should from time to time, as the same might be re- ceived, be paid over to the trustees of the Cornell Uni- versity, for its use and behoof, in the mode and for the purposes defined in said act of Congress. By the tenth section of the act, all payments made under the act out of the treasury of the state, were to be made by the treasurer on the warrant of 85 the Comptroller out of the special fund on deposit with the treasurer, arising from the receipt of the in- come, and revenue, and avails of the proceeds of the sales of the lands or of the scrip already mentioned. The University thus incorporated, and to which the avails of the sales of the lands and scrip above mentioned were to be paid, was also in and by the ninth section of the act compelled to annually receive students, one from each assembly district of the state, to be selected as provided in the act, and was to give them instruction in any or in all the prescribed branches of study, in any department of said institu- tion, free of any tuition fee or any incidental charges to be paid to said University. By virtue of the acts above mentioned, and by compliance with the terms and conditions named therein, the relator, the Cornell University, became, and ever since has been, and now is the sole benefi- ciary of the trust created by the act of Congress, and the act of the state accepting the same, and as such is entitled to the benefits derivable therefrom. In 1881, the principal of the trust fund above mentioned became settled and fixed at $473,402.87, and is desig- ignated and known as the college land scrip fund. In that year and by chapter 185 of the laws of that sea- son, the legislature "appropriated $25,000 to Cornell University payable from the college land scrip fund ; the language and form of the clause in said act mak- ing such appropriation as follows : "Payable from the College Land Scrip Fund. Revenue. For the Cornell University, twenty-five thousand dollars." 86 And in 1882, chapter 270, there was appropriated as follows : "Payable from the Land Scrip Fund. Revenue. For the Cornell University, twenty-five thousand dollars." * * * * The following is a correct statement in regard to the college land scrip fund, and its income or revenue from and including October ist, 1881, to February loth, 1883, as shown by the books and records of the office of the Comptroller of the State of New York : Principal sum $473,402 87 Balance of revenue in the treas- ury October i, 188 1 .... 3,203 47 Total income during the fiscal year ending Sept. 30, 1882 . 20.074 27 Total revenue available during fiscal year ending Sept. 30, 1882 #23,277 76 There is charged as payment from that fund during that time to Cornell University, $18,700.00 For premium and in- terest on U. S. bonds purchased, 721.08 19)421 08 87 Leaving a balance of revenue in treasury Oct. ist, 1882. . $3,856 66 The above item of #721.08 for "premium and interest" is made up as follows : Premiums $718 61 Interest accrued 2 47 !i 08 On the first day of October, 1882, there was to the credit of the principal of the college land scrip fund the sum of $262, 309. 1 2 uninvested, and on the 2d and loth days of said month the Comptroller pur- chased f 200,000 of United States four per cent, bonds paying therefor out of this fund the sum of $238,- 394.81, including premiums, interest and commis- sions. Of this amount ($238,394. 81), $200,000 is charged as a payment out of the principal fund, and the bal- ance, viz-: $38,394.81, is charged as a payment out of the revenue account. At the time of making this last charge there was standing to the credit of the revenue account of this fund only the sum of #3,901. - 66, and after making such charge the revenue account stood on the books of the Comptroller as overdrawn to the amount of $34,493.15. Since the purchase of said bonds and the making of the above charge against the revenue account there has been paid in as interest and put to the credit of the revenue account of said fund the sum of $7,280.- 76 ; and there has been invested in purchase of three and one-half per cent. Albany county bonds $10,000 of principal at a cost to the revenue account of $116.- 66 for accrued interest, and $200 for premium, leaving the account at this date, viz : February loth, 1883, 88 still overdrawn to the amount of $27,529.05, and capital uninvested $52,309.12. The item of $38,394.81 paid in October, 1882, for interest, premiums and commissions, is made up as follows : Interest accrued $ 131. 51 Premiums 38,013.30 Commissions 250.00 $38,394.81 The Comptroller declines to make any further payments to Cornell University from the revenue al- read}' received, and hereby declares his intention and future policy to be, not to make any payments to the University from the future income of said trust fund until after the revenue therefrom shall have first made good the revenue account for the drafts made upon it as stated above for interest, premiums and commis- sions on investments already made. * * * The investments, and each and all of them, made by the Comptroller of said fund were the best invest- ments that could be made by him of the moneys so invested and the same draw the most revenue obtain- able therefrom. mc * * It is claimed on behalf of the relator that it is in any event annually entitled to five per cent, income on the principal fund whether the fund actually earns that amount or not, and as much more as the fund actually does earn. The relief sought is peremptory mandamus di- recting the Comptroller to draw his warrant on the treasurer for $28,640.29 payable out of the college 89 land scrip fund to the relator, said sura being five per centum upon the whole capital for the two years ending September 30, 1883, less #18,700 paid the re- lator during the fiscal year ending September 30, 1882. The Special Term denied a motion for a man- damus and from that order the relator appealed to the General Term. That court modified the order of the Special Term and granted the motion for a man- damus, directing the Comptroller to deduct out of the income received by him a sum made up upon this principle : a certain amount of the annual income was to be retained by the Comptroller and placed at inter- est, so that by the time the principal of the bonds re- presenting the investment became due, there would be in his hands, arising from this sinking fund, a sum sufficient to make the revenue account good for the amount that had been taken from it in payment of the premium upon the bonds purchased by him, the balance of the amount was to be annually paid to the University. The relator insisting upon its claim to be paid the amount of at least five per cent, on the principal sum of #473,402.87, has appealed from the determination of the General Term to this court. S. D. HALUDAY, For App'lt. CHAS. F. TABOR, Atty. Gen'l for Resp'ts. go Peckham, J. : We agree with the learned General Term that in deciding this case we are to be guided by the stat- utes of our own state, and if under those statutes the Comptroller was not authorized to make the payment as demanded by the relator, he was justified in his refusal, even though the State had failed to comply with the terms and conditions of the act of Congress donating the land to it. That would be a matter be- tween the Federal government and the state, which the Comptroller would have no right to decide for himself. The view taken by the learned judge who wrote the opinion at the General Term, would, we think, apply with great force to the ordinary case as between tenant for life and remainderman of a fund to be invested in the ordinary way of trust funds. Such is the case assumed by him and such are the principles laid down in Farwell v. Tweddle (lo Ab. N. C. 94). In construing the meaning of the word "reve- nue" as used in the appropriation acts of 1881 and 1882, already quoted, other facts than the mere ap- propriation of money may be regarded, and it is pro- per not only to look at the previous state statutes passed upon the subject of the land graut of Congress and its acceptance by legislative action, but also to carefully read the act of Congress donating the land, as that act is the foundation upou which all our state statutes upon the subject are based. This may be done for the purpose of determining what was the true inten't of the legislature when it appropriated these sums from the "revenues" of the trust fund. The clear purpose of the act of Congress can not be mistaken. It was to provide a fund from the sale of 91 the public lands or of the land scrip, of which the state should be the trustee and the safety of which should be guaranteed by it, and the whole interest of the principal sum was to be used for the purposes mentioned in the act, without the deduction of any costs, charges, or expenses of any name or nature. The whole actual earning of the fund was to be used for this purpose, and all expenses of management or disbursements were to be paid by the state which re- ceived the donation, so that in the language of the Federal legislature, " the entire proceeds of the sale of said lands shall be applied without any diminution whatever to the purposes" thereinafter mentioned. With this legislation of Congress thus plainly set forth in the act of donation, the state by accepting the donation by legislative act, took upon itself to comply and it has assented to the terms and condi- tions of the act, upon which the donation was made. In the first act of the legislature upon this subject, it provided that the treasurer, on the warrant of the Comptroller, should from time to time pay, out of any moneys in the treasury not otherwise appropriat- ed, all the expenses of management, and superintend- ence, and taxes, if any, from the selection of. said lands previous to their sale ; and all expenses incurred in the management and disbursement of the moneys which might be received therefrom, and of all inci- dental matters connected with or arising out of the care, management and sale of the said lands ; so that the ^VL'dxe^ proceeds of the sale of said lands should be applied, without any diTninution whatever, to the pur- poses mentioned in said act of Congress." This language is plain, and it shows the legisla- tive intent to fully comply with the conditions con- 92 tained in the act of Congress. It only required sub- sequent appropriations to pay over the entire proceeds of the trust fund to the beneficiary, and in this way the purpose of the Federal act and of this state stat- ute, would be fully carried out. In the same act the legislature also provided for the investment by the Comptroller of these trust funds in stocks of the United States, or of this state, or in some other safe stocks, yielding not less than five per cent, of the par value of said stocks, and the moneys so invested were declared to constitute a perpetual fund, the capital of which should remain forever undiminished, except as provided for in and by said act of Congress. And in the act incorporating Cornell University the statute provided for the payment to the Universi- ty of all the income, revenue and avails received from the investment of the proceeds of the sale of the lands or of the scrip therefor, or for any part thereof, granted to the state by the act of Congress above mentioned. Bearing in mind the relations between the Fed- eral and State governments upon the subjects of this land grant, and that Cornell University has received the trust fund on the conditions heretofore mentioned, we are in a position to inquire intelligently what was meant by the legislature when it used the language it did in appropriating moneys for the University in the years 1881 and 1882. In each of those years the leg- islature appropriated $25,000 to the Cornell Univer- sity and in making such appropriations it used this language : payable from the college land scrip "fund, revemre, for the Cornell University, $25,000." What did it mean by the use of such language ? Did it mean that the revenues of the trust fund were only such revenues as remained after the payment from 93 them of those very expenses, which by the terms of the act of Congress, and by its own legislative act in accepting the land grant, the state was itself bound to pay, or did it mean that in accordance with both the act of Congress and its own plain legislation upon that subject, theretofore adopted and passed the term "revenue" included all the revenue arising from the bonds purchased, without diminution or subtraction by reason of expenses for investment or premiiims paid on such bonds and that all such interest should in good faith be paid by it to this University which it had established and which was to receive the bene- fits accruing by reason of this act of Congress ? We think plainly it meant the latter. The state had not only received the lands and had thus become possess- ed of this trust fund, upon the conditions already mentioned, and by its legislation had accepted such conditions, but in its act creating this University and as a part consideration for its donation to it of the interest on this fund, it had required that the Univer- sity should annually receive one hundred and twenty- eight students, that is one from each assembly district, who should be gratuitously instructed by it in any or in all the prescribed branches of study in any department of said institution. Thus at the end of four years, and from that time on there would be, if all the places were filled, five hundred and twelve students availing themselves of gratuitious instruc- tion from this institution. That certainly is a large item and must necessarily be a heavy burden to be borne, by it, and it was undoubtedly placed upon it by the state because of the fact that the University was to receive the revenue arising from the large sum above referred to, free and clear of all expense in re- lation to it. The effect of the opposite construction 94 is stated in the language of the case when it says that if this action of the Comptroller is justified, Cornell University will be deprived wholly of the in- come from this fund for nearly two years. In our opinion the Comptroller was not justified in charg- ing upon his books the sum of thirty eight thousand and odd dollars against the income for the purpose of taking for the state such income as might accrue in the future until it amounted to that sum. What- ever amount it was necessary then, or may be necess^- ary hereafter to expend in the way of premiums for investments for this fund, comes within the plain meaning of the acts of this state already referred to, and such amounts are expenses connected with the management and maintenance of the fund, which should be made good by the state by an appropria- tion from its treasury. In this way the principal is kept intact with the whole income as payable to the University, and it is the only way in which it can be done. Although the Comptroller was not justified in charging this amount to the revenue account, yet still this court cannot grant relief in the way of a mandamus for any greater sum than is actually in the treasury and which arises from the revenues of that trust fund and for which an appropriation has been made. The Comptroller purchased $200,000 of bonds, upon which he receives interest, and he paid a large premium for them. Whether he charges that premium to the principal or to the income, has no effect whatever upon the fact that he receives as interest upon that particular investment but $8,000. The whole of that amount is revenue within the meaning of that word as used in these statutes, hav- ing reference to all the circumstances already set forth. We therefore differ with the General Term so 95 for as to say that the whole of the interest received should be paid by the Comptrorier under the lan- guage used in these appropriations up to the amount in each year actually appropriated and no part of it should be set apart for the purpose of making good the charge of the Comptroller against the income of the fund. It is the plain duty of the state to itself make the appropriation necessary to pay the premium upon the bonds ptirchased, and to thus keep the principal of the trust fund entirely and absolutely intact, and to appropriate to the University every dollar of income. But if it did not perform its duty, this court cannot compel the Comptroller to pay out any funds for which the appropriation has not been actually made, nor can it compel him to pay to the University any greater sum than he has actually received as interest from the bonds which he purchased or the other in- vestments in which the trust fund remains. We agree with the General Term that the Comptroller could not pay under the language of these appropriations any greater sum than he actually received as interest, and we do not think that the state is liable to pay any greater sum than it was enabled to receive by reason of its investment of the trust fund in safe stocks, as mentioned in the act of Congress and in the statutes of our own state. In preparing the opinion in the McGraw case (III N. Y. 66), reference was incidentally made to the duties of the state in connection with the trust fund. The subject arose while discussing the claim of the University that all the moneys arising from the Cor- nell contract of 1866, therein referred to, formed part of the trust fund which belonged to the state, the in- terest of which was to be paid to the University. It was then stated that such a claim, if well foundied, 96 cast a great responsibility upon tlie state, and the re- quirements of the statute were then siibstantially re- cited as to the investment and payment of interest. The language of the opinion cannot be said to adjudge the point that the state was to guarantee the payment of the five per cent, interest, as the guaranty had ref- erence to the principal sum, which was to be kept intact, while the interest on an investment was as- sumed to be at the rate of five per cent, and it was all to be paid to the University without any deduction. But there was no question of this nature before the court in that case, and none such was decided. The state could not obtain at par bonds of the character described in these acts, paying interest at the rate of five per cent, and we do not think, in view of the language, both of the act of Congress and of the statutes of the state, that the latter is liable at all events to ensure to the University five per cent, upon the amount of the trust fund, irrespective of the rate which it is enabled to receive by investing the fund in bonds of the character named in the legislation, both state aud national, upon the subject. We therefore modify the order of the General Term and direct the Comptroller to issue his warrant for the payment to the University of all the interest from the investment remaining in his hands up to the amount of the $25,000 appropriated in each year re- spectively. If the amount is not agreed upon the or- der can be settled on notice. "All concur, except Finch, J., not sitting." A copy : H. E. SICKLES, Reporter, Per C. 97 CORNELL CONTRACT OF 1866. This agreement made this fourth day of August, eighteen hundred and sixtj'-six, between the people of the State of New York, through their Commis- sioners of the Land Office, acting under and by virtue of chapter 481, of the Laws of 1866, of the first part, and Ezra Cornell, of Ithaca, New York, of the second part witnesseth : That the said party of the first part hereby agree to sell and assign and deliver to the party of the sec- ond part all of the agricultural land scrip now in the possession or ownership of the State of New York, consisting of five thousand and eighty-seven certifi- cates, each representing one hundred and sixty acres, on the following terms and conditions : ist That said party of the second part shall re- ceive said scrip from time to time, as the same can be judiciously located, in parcels representing not less than twenty-five thousand acres, paying therefor into the Treasury of the State, on its assignment and de- livery to him by the Comptroller, at the rate of thirty cents per acre in lawful money of the United States, or of the State of New York, or in other good and safe stocks or bonds, to be approved by the Comp- troller, and drawing not less than five per cent, inter- est per annum, and at the same time depositing with the Comptroller stocks or bonds, to be approved by him, to an amount equal to an additional thirty cents per acre, as security for the fulfillment by the party of the second part, of the conditions of this agree- ment, so far as they relate to the execution of a mort- gage to the State on the land to be entered and lo- cated with said scrip, on the fulfillment of which, 98 said stock or bonds so deposited as security shall be returned to said party of the second part. 2d. That whenever any parcel of scrip sold and delivered to the said party of the second part, under and by virtue of this agreement, shall have been lo- cated by him, or his agents, the said party of the sec- ond part hereby agrees that he will, without delay, furnish to the Commissioners of the Land Office of this State, or to some member thereof, to be desig- nated by a resolution of the Board, a full and com- plete list and description of the land so located. And the said Board of Commissioners shall, within at least sixty days thereafter, and from time to time subsequently, as may be found expedient, fix a mini- mum valuation by quarter sections at which the same may be sold by said party of the second part. And said party of the second part further agrees that he will annually, and from time to time, when- ever required by the Commissioners of the Land Of- fice, render for their information to the Comptroller a full, just, and true account of all sales and leases made by him, said report to be made in such form and under such oath as the Comptroller shall direct, and will pay into the Treasury of the State the whole of the net profits arising therefrom, which shall be as- certained by deducting from the gross receipts on sales, the original cost of thirty cents per acre, the cost and expenses attending the location, manage- ment and sale of said lands, the taxes assessed and paid on the same by the party of the second part, and the interest at the rate of seven per cent, per annum on the several amounts actually expended and liabili- ties incurred for such purposes. But it is expressly agreed by the party of the second part that he will 99 not sell any portion of said lands at a price below the niinimum valuation thereon, which may from time to time be fixed by the Commissioners of the Land Of- fice, without first obtaining their consent to do so in writing. 3d. That the stipulations and conditions of this agreement shall apply to each and every parcel of scrip assigned and delivered to said party of the sec- ond part, under this agreement, and the Comptroller shall defer or suspend further assignments and deliv- eries of scrip whenever the party of the second part fails to perform such stipulations and conditions, in respect to any scrip sold and delivered to him under this agreement until they have been complied with. Except, nevertheless, that stocks or bonds as se- curity for the return and mortgage of lands located un- der scrip to the party of the second part, shall in no case be required when there shall remain in the hands of the Comptroller by virtue of this agreement, mort- gaged lands not released, equal in quantity to the scrip which may be issued by the party of the second part and remain not located and mortgaged as pro- vided by this agreement. 4th. That as often as and whenever the party of the second part shall furnish a description of any of the lands selected and located by him under and by-virtue of said scrip, he shall immediately execute a mort- gage thereon to the people of this State, to be ap- proved by the Attorney-General, conditioned that the said party of the second part will fully keep and per- form each and every of the terms and conditions he is required to do, keep and perform. And this agreement is declared to be a continu- lOO ing agreement, and a suit or suits at law, or in equi- ty, maj' be from time to time instituted and main- tained thereon, and upon any or all of said mortgages, for any violation of such terms and conditions, when- ever such violation may occur. Said mortgages shall be delivered to the Comp- troller, or to the Commissioners of the Land Ofi&ce. 5th. Whenever the party of the second part shall sell or dispose of any section of the lands acquired by him under this agreement, and pay into the treasury of the State the net profits resulting from such sale, after the deductions hereinbefore mentioned and pro- vided for, the party of the first part shall execute and deliver to the party of the second part a full and suf- ficient release of the portion sold from the lien of the morteag-e, so that a clear title can be vested in the purchaser or purchasers. 6th. That of the moneys arising from sales or leas- es made by the party of the second part, and paid into the State Treasury as herein provided, a proportion equal to thirty cents per acre shall be added to and form a part of the fund known and designated on the records of the Comptroller's Office as the "College Land Scrip Fund," and the remainder shall consti- tute a separate and distinct fund, which shall be the property of the ' ' Cornell University, " to be known as the " Cornell Endowment Fund," the principal of which shall forever remain unimpaired, the income to be annually appropriated by the Legislature, and paid over from time to time to the Trustees of the Cornell University, to be by them devoted to the pur- poses of the institution. 7th. That the said party of the second part further agrees to purchase the whole of the aforesaid scrip, lOI and select and locate lands under and by virtue there- of, and execute mortgages thereon, as hereinbefore provided within four years from the date hereof, and that he will sell the lands within twenty years from date, and pay the net profits arising from such sales into the Treasury of this State, and that until the same shall be sold and the net profits so paid, he will pay all taxes which may be assessed thereon, and pre- serve and maintain a title thereto unimpaired, to which the liens created by said mortgages shall at- tach. And if any event shall occur making it needful for the people of the State to incur any expense to pre- serve the lien of said mortgages, the same shall be paid out of the proceeds of the sales of said lands. And if, after the expiration of the period of four years hereinbefore fixed, any of said scrip shall re- main with this State, and not have been paid for by the party of the second part, the same shall be releas- ed thereafter from the conditions and stipulations of this agreement. Hon. Ezra Cornell made the following appli- cation : I apply for such temporary modification of my agreement with the Commissioners of the Land Office in relation to the College Land Scrip, so that for the present the Comptroller will receive an assignment of Land Receiver's certificates in lieu of a mortgage on the lands to be patented to me on such certificates. E. Cornell. I02 CONGRESSIONAL ACT. In 1862, the Congress of the United States passed the following act : Chapter 130. — An act donating public lands to the several states and territories which may provide col- lesres for the benefit of agriculture and the mechanic arts. Be it enacted by the Senate and House of Represen- tatives of the United States of America in Congress assembled^ that there be granted to the several states, for the purposes hereinafter mentioned, an amount of public land to be apportioned to each state a quantity equal to thirty thousand acres for each senator and representative in congress to which the states are re- spectively entitled by the apportionment under the census of eighteen hundred and sixty. Provided^ That no mineral lands shall be selected or purchased under the provisions of this act. Section 2 — And be it further enacted, that the land aforesaid, after being surveyed, shall be appor- tioned to the several states in sections or subdivisions of sections, not less than one-quarter of a section; and whenever there are public lands in a state subject to sale at private entry at one dollar and twenty -five cents per acre, the quantity to which said state shall be enti- tled shall be selected from such lands within the limits of such state, and the secretary of the interior is here- by directed to issue to each of the states in which there is not the quantity of public lands subject to sale at private entry at one dollar and twenty-five cents per acre, to which said state may be entitled under the provisions of this act, land scrip to the amount in acres I03 for the deficiency of its distributive share ; said scrip to be sold by said states and the proceeds thereof ap- plied to the uses and purposes prescribed in this act, and for no other use or purpose whatsoever. Provided^ That in no case shall any state to which laud scrip may thus be issued be allowed to locate the same within the limits of any other state, or of any territory of the United States, but there assignees may thus locate said laud scrip upon any of the un- appropriated lands of the United States subject to sale at private entry at one dollar and twenty-five cents or less per acre. And provided further^ That not more than one million acres shall be located by such assignees in any one of the states. And provided further^ That no such location shall be made before one year from the passage of this act. Section 3 — And be it further enacted. That all the expenses of management, superintendence, and taxes from date of selection of said lands previous to sale, and all expenses incurred in the management and disbursements of the moneys which may be re- ceived therefrom, shall be paid by the states to which they may belong, out of the treasury of said states, so that the entire proceeds of the sale of said lands shall be applied without any diminution whatever to the purposes hereinafter mentioned. Suction 4. — And be it further enacted, That all moneys derived from the sale of the lands aforesaid by the states to which the lands are apportioned, and from the sales of land scrip hereinbefore provided for, shall be invested in stocks of the United States, or of the states, or some other safe stocks, yielding not less I04 than five per centum upon the par value of said stocks ; and that the moneys so invested shall constitute a perpetual fund, the capital of which shall remain forever undiminished, (except so far as may be pro- vided in section fifth of this act,) and the interest of which shall be inviolably appropriated, by each state which may take and claim the benefit of this act, to the endowment, support, and maintenance of at least one college where the leading object shall be, without excluding other scientific and classical studies, and including military tactics, to teach such branches of learning as are related to agriculture and the mechan- ic arts, in such manner as the legislatures of the states may respectively prescribe, in order to promote the liberal and practical education of the industrial class- es in the several pursuits and professions in life. Section 5. — And be it further enacted^ That the grant of land and land scrip hereby authorized shall be made on the following conditions, to which, as well as to the provisions hereinbefore contained, the pre- vious assent of the several states shall be signified by legislative acts. First, If any portion of the fund invested, as pro- vided by the foregoing section, or any portion of the interest thereon, shall, by any action or contingency, be diminished or lost, it shall be replaced by the state to which it belongs, so that the capital of the fund shall remain forever undiminished ; and the annual in- terest shall be regularly applied, without diminution to the purposes mentioned in the fourth section of this act, except that a sum, not exceeding ten per centum upon the amount received by any state under the provisions of this act, may be expended for the purchase of lands for cites or experimental farms I05 whenever authorized by the special legislatures of said states. Second, No portion of said fund, nor the interest thereon, shall be applied directly or indirectly, under any pretense whatever, to the purchase, erection, preservation, or repair of any building or buildings. Third, Any state which may take and claim the benefit of the provisions of this act, shall provide, within five years, at least not less than one college, as described in the fourth section of this act, or the grant to such state shall cease ; and said state shall be bound to pay the United States the amount received of any lands previously sold, and that the title to pur- chasers under the state shall be valid. Fourth, An annual report shall be made regarding the progress of each college, recording any improve- ments and experiments made, with their costs and re- sults, and such other matters, including state indus- trial and economical statistics, as may be supposed useful ; one copy of which shall be transmitted by mail, free, by each to all the other colleges which may be endowed under the provisions of this act, and also one copy to the secretary of the interior. Fifth, When lands shall be selected from those which have been raised to double the minimum price, in consequence of railroad grants, they shall be com- puted to the states at the maximum price, and the number of acres proportionately diminished. Sixth, No state while in a condition of rebellion or insurrection against the government of the United States shall be entitled to the benefit of this act. Seventh, No state shall be entitled to the benefits of this act unless it shall express its acceptance there- io6 of by its legislature within two years from the date of its approval by the president. Section 6. — And be it further enacted^ That land scrip issued under the provisions of this act shall not be subject to location until after the first day of Jan- uary, and thousand eight hundred and sixty-three. Section 7. — And be it further enacted^ That the land offices shall receive the same fees for locating scrip issued under the provisions of this act as is now allowed for the location of military bounty land war- rants under existing laws. Provided That their maximum compensation shall not be thereby increased. Section 8. — And be it further enacted^ That the governors of the several states to which scrip shall be issued under this act shall be required to report annu- ally to Congress all sales made of such scrip until the whole shall be disposed of, the amount received for the same and what appropriation has been made of the proceeds. Approved^ July 2, 1862. INDEX. Introdudlory Note . . Ill Communications with reference to the Land Scrip in the different States . . . . 1-80 Alabama 3 Arkansas i California 32 Colorado 5 Connecticut 57 Dakota 64 Delaware 75 Florida ... 68 Georgia 7° Illinois 6 Indiana 34 Iowa. 7^ Kansas "^ Kentucky ^7 Louisiana 79 Maine 4 Maryland 7^ Massachusetts 4^ Michigan 35 INDEX. Minnesota 74 Mississippi 65 Missouri 33 Nebraska 56 Nevada 46 New Hampshire 11 New Jersey 80 New York. (See Introductory Note.) North Carolina 59 Ohio 44 Oregon 9 Pennsylvania 48 Rhode Island 12 South Carolina 60 Tennessee 50 Texas 10 Vermont 51 Virginia 77 West Virginia 39 Wisconsin 37 Opinion of N. Y. Court of Appeals 81 Cornell Contract of 1866 97 Congressional Act 102