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History of the Surplus Revenue of 1837

History of the Surplus Revenue of 1837


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1885 edition. Excerpt: ...of the surplus as was invested in improvement bonds. Louisiana Received $447,919.14. The deposit was accepted March 13, 1837.4 By the act of February 26, 1838, the treasurer of the State was authorized to apply $355,000 to the full payment and extinguishment of the floating debt of the State, due the different banks of this State, and of the balance due by the State for its subscription of five hundred shares of stock of the Barataria and La Fourche Canal Company. From the residue of the surplus the treasurer was to pay the balance of the appropriations made by law and due to the College of Louisiana, to Jefferson College, to Franklin College, to the Covington Female Academy, and to the Penitentiary at Baton Rouge. Whatever might be left was to be put to the credit of the sinking fund and applied to the payment of State bonds due July, 1839.1 The next provision in regard to the surplus is in the 137th Article of the Constitution of 1852, which appropriated the interest of the trust funds deposited by the United States under the act of June 23, 1836, to schools. In consequence of this, we find among the items of the State debt due the free school fund up to December 31, 1852: "Interest accrued during 1852 on the United States deposit fund, $28,795.14." This constitutional enactment was repeated in the Constitution of 1864, Art. 144, and in the Constitution of 1868, Art. 139. The same provision was made in the school law of 1853 3 and again in 1855.4 It is also contained in the Revised Statutes of 1876.6 The liability of the State to repay the deposit is noticed by the State Committee of Finance, in 1844, with the remark that it will "never in all human probability be repaid or demanded."" As the fund was...



Product Details
  • ISBN-13: 9781234192143
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 54
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 1234192144
  • Publisher Date: 05 May 2014
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 113 gr


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