estate, at six per cent." During the following year, the State Seminary was reorganized as the Indiana College, to which institution was granted the congressional endowment, less the 4,166 acres that had been sold by the Vincennes University. Ten years later, in 1838, the present Indiana University was organized on the foundations of the Indiana College." During this time, the Vincennes University had undergone a precarious existence, having had its endowment wrested. away by the State, and enjoying no legal status for some years previous to 1838, when the old board of trustees was revived by act of the State Legislature. Before long, measures were undertaken by the trustees to recover the seminary land originally granted to the institution in 1807. The case passed through the various courts, and in December, 1852, was finally adjudicated in the Supreme Court of the United States in favor of the Vincennes trustees." (While this case was in the hands of the Court, Congress passed an act supplying to the State, for the use of the State University, the deficiency of 4,166 acres in the first seminary township, which had been sold by the trustees of the Vincennes University.") To the Vincennes University there thus accrued, by this Supreme Court decision, deducting fees, a fund of $41,585." The Indiana University was now confronted by the loss of about one-half of its endowment fund. But on petition of the State Legislature, Congress, in 1854, indemnified the State for the loss of title to this township of land, by authorizing the Governor to select 19,040 acres for the use of the University." In addition to the grants for higher education already mentioned, Congress made two specific donations to the Vincennes University. An act of April 20, 1818, appropriated to the trustees of the Vincennes University, for the use of the institution, the residue of any moneys arising from the sales of cer43 Woodburn, 81. Ibid., 34. Knight, Land Grants, 129. 42 45 10 S., c. 58, p. 14. 46 ❝ 10 S., c. 12, p. 267. Feb. 23, 1854. tain lands which were authorized to be used primarily for the purpose of draining a pond in the vicinity of the town of Vincennes.48 In 1873, several thousand acres of vacant and abandoned lands in Knox Co. were granted to this University for its use."9 Thus, it will be perceived, Indiana received, in all, a township of 23,040 acres, a grant of 19,040 acres, and an indemnity of 4,166 acres for the use of the Indiana University, its State institution for higher education; while in behalf of the Vincennes University, a whilom State institution, there was received a total of 23,040 acres. From these sources there had accrued a total of $134.353.68 to the credit of the "College Fund" in 1895,50 in behalf of the State University, upon which an interest of $8,039, derived from loans, was paid in 1897.51 Since 1883, the State has levied an annual one-half per cent. State tax, the moneys thus derived being placed to the credit of the "Permanent Endowment Fund of Indiana University."'" This State fund amounted to $397,702.31 in 1895. By an act of March 8, 1895, a further annual State one-fifteenth-mill tax accrues to the University for maintenance purposes.55 Concerning the present status of the Vincennes University Fund derived from the congressional grant, no definite information has been secured. It is probable that the sum total received, including the 4,166 acres sold in the early part of the century, and deducting the $25,000 expended in litigation with the State, amounted to about $45,000. Saline Lands Grant The act of Congress of March 26, 1804, establishing the Vincennes land district in the Indiana Territory, reserved from sale the salt springs and the lands reserved for the use of the 48 3 S., c. 128, s. 2, p. 468. April 20, 1818. ❝17 S., c. 297, p. 614. March 3, 1873. 50 Report State Auditor, 1895, 50. B2 School Laws, 1897, Sec. 355. "Report State Treas., 1897, 36. 63 Ibid., Sec. 493. same. In the enabling act for the admission of the Territory as a State, all the salt spring lands, not exceeding thirty-six sections, were granted to the State for use of the people, "to be used under such terms, conditions and regulations as the Legislature ✶ ✶ shall direct." 55 The A resolution of the State Legislature was presented to Congress in 1827, praying for permission to sell all the salines granted by Congress, for the purposes of common school education." Congress acceded to this request in the act of 1832, authorizing the Legislature to sell certain described lands amounting to over thirty-seven and one-half sections. next year, the Legislature ordered the lands to be sold, and later definitely appropriated the income" to the use of common schools. Until 1844, the proceeds were loaned on mortgages by the State Treasurer. During the same year the General Assembly added to the common school fund all the moneys derived from the saline reservations." In 1845 the funds were distributed among the counties, to be loaned by them in the same manner as were the other educational funds." The Constitution of 1851 declared the "saline-fund, and the lands belonging thereto," a portion of the common school fund." During the following year Congress repealed so much of the act of 1832 as limited the price at which the saline lands might be sold." By 1873, all the lands had been sold, and the proceeds accruing since 1854 have been consolidated with the other school funds. These proceeds have been borrowed by 2 S., c. 35, s. 5, p. 279. 59 3 S., c. 57, s. 6, p. 290. April 19, 1816. Amer. State Papers, Pub. Lands, IV, 890. 374 S., c. 155, p. 558. July 3, 1832. 58 Knight, Land Grants, 73. 60 Ind. Sch. Rep., 1885-86, 278. 62 1 Constitution, 1851, Art. VIII, Sec. 2. 10 S., c. 61, p. 15. July 12, 1852. 59 Ibid., 12. the State, which issued six per cent. bonds to the credit of the fund." The area of this grant amounts to 23,829.5 acres." The most recent statistics available indicate that these lands have been sold for about $85,000, which are now bearing eight per cent. interest. Surplus Revenue of 1836 From this Government grant Indiana received $860,254.44. In February, 1837, the General Assembly directed one-half to be distributed to the various counties on the basis of the adult male population, to be loaned to individuals at eight per cent. interest, the income to be used by the counties for the support of schools therein. In 1843 the amount thus distributed was by law denominated the "Surplus Revenue Fund," and made a permanent school fund." The reservation thus made for the common school fund was incorporated in the Constitution of 1851," and in the various revisions of the school laws thereafter made. Thus, the school law of 1855 denominates the fund" heretofore known and designated as the Surplus Revenue Fund," a part of the " Common School Fund." 68 69 Swamp Lands Grant The Constitution of 1851 provided that "the proceeds of the sales of the swamp-lands granted to the State of Indiana "Knight, Land Grants, 74. Ind. Sch. Rep., 1895-96, 278. 5 Bourne, 61-65. Ind. Sch. Rep., 1885-86, Pt. II, 12. "Constitution, 1851, Art. VIII, Sec. 2. School Laws, 1897, Sec. 251. "The Indiana School Report, 1865–66, p. 68, indicates that the act of February, 1837, provided that $573,502.96 of this money should become a school fund, which is one-half of the whole sum expected on the basis of four Government payments; but it will be recalled that only three payments of the Surplus Revenue were made. See " Surplus Revenue," ch. IV, of this book. by the Act of Congress of September 28, 1850, after deducting the expense of selecting and draining the same," should constitute a portion of the common school fund of the State.70 Up to December 1895, the General Land office had received claims amounting to 1,377,727.7 acres. In the early days the money was apparently squandered, and much was thus lost to the school fund. In 1885, Knight indicated the proceeds for education at $38,077.59." Later statistics have not been available. Agricultural and Mechanical College Grant 74 Indiana accepted the Government grant of 1862 endowing agricultural and mechanical colleges in the various States of the Union, in an act of March 6, 1865, providing for the investment and management of the endowment." A body corporate was created under the name of " The Trustees of the Indiana Agricultural College," " who disposed of the 390,000 acres in scrip for $212,238.50. Not until 1869 was an institution definitely organized. In that year the State accepted a donation of $150,000 from John Purdue for the use of an agricultural college, and in recognition of this and other donations, named the institution Purdue University with a location in Tippecanoe County. The university was not opened within the time limit set by Congress, so that Congress passed an act on December 13, 1872, extending the time limit two years longer in which Indiana might locate a college in conformity with the act of 1862. In 1874, the institution was formally opened at La Fayette. 75 Meanwhile, the original fund had, by interest accumulations, increased to $340,000. At the present time this endowment |