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persons duly authorized, who give for the money borrowed che bonds of the state, promising to pay the money at the time specified, with interest at the rate agreed on; the inierest usually to be paid semi-annually.

8. These bonds are usually given in sums of $1000. The debts of a state are incurred by the issuing of these bonds, and are also called state stocks, because the capital or stock required to construct the state works is obtained by the sale of these bonds. These bonds or stocks may be sold and transferred as promissory notes, by one person to another. When they are sold for the amount for which they are given, they are said to be at par : when they are sold at a price either above or below the amount expressed in them, they are said to be above or below par.

9. These stocks are taken by men who have large sums of money to lend, and who consider state stocks good security ; because, if the state has no ot means of redeeming its bonds, the legislature has power to pass a law authorizing the money to be raised by a tax upon the people. Almost every state is thus indebted, not only to American capitalists, but to those of European countries, whence many millions have been sent to the United States to purchase state stocks.

10. The canals are now managed by a board of public works, consisting of three members appointed by the legislature. It is the duty of this board to see that the canals are kept in repair and supplied with water; to appoint collectors of tolls, and other officers, and fix their compensation; and to make rules and regulations concerning mat

l ters in general relating to the navigation of the canals. And if a new canal is to be made, this board employs the agents, engineers, surveyors, and such other persons as are wanted to do the work.

11. There is also a board of canal fund commissioners, consisting of the state auditor, the state treasurer, and an.

elected by the legislature for three years, are the bonds of the state called? What is said of the nature of these bonds ? 9. How and of whom is the money obtained for these bonds ? Why are the state stocks deemed safe? 10. By whom are the canale managed? What are their duties ? 11. Who are the canal fund come

other person

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who is the acting commissioner. This board borrows money on the credit of the state, when authorized by the legislature to do so, for making canals or paying the canal debts; manages all the property belonging to the canal fund; and, at stated times, makes reports of all moneys borrowed or debts contracted, and for what purposes.

12. The collectors of tolls are appointed by the board of public works. The tolls are charges paid by the master or owner of a boat, for the privilege of transporting goods and other property on the canals. Specific prices are charged by the mile on every hundred or ton weight of merchandise, every barrel of flour, every 1000 feet of lumber, &c.; and collectors are stationed at the several ports to receive the tolls.

13. The state of New York was the first to undertake the construction of canals on a large scale. Ohio is one of the states which soon followed in this enterprise ; and, although possessed of less wealth than the older states, she has con- , structed a greater number of miles of canals than

any

other state in the Union. In the construction of these works, a large debt has been incurred, which is to be paid off by the tolls collected on the canals, the income of the canal fund, and by taxes annually levied upon the property of the citizens.

CHAPTER XVIII.

Funds, &-c., of the State, continued.--School Fund, and

Schools.

1. No people can be prosperous and happy without learn. ing. In some countries, such as Turkey and some others, the people are degraded and miserable. This is owing to

missioners? How appointed? Their duties? 12. By whom are the colloetors appointed? What are tolls? How are they charged ? 13 By what state was the first great canal constructed? What is said of Ohio and her canals? How is the canal debt to be paid?

1. What is here said of the advantages of education ? 2. Why ought

their ignorance. They are governed by a despot, who rules over them with great rigor; and they scarcely know that they could be in a better condition. Indeed, for the want of education, they could not, if they were to try, govern themselves as the people of this country do.

It is only where the great body of the citizens are well educated, that a free government can be maintained.

2. Hence, in order to continue free and prosperous, the American people must be educated. But all have not the means of obtaining a good education. There are among us some persons who are too poor to pay for the instruction of their children; and the rich are unwilling to assist them, without some law to compel them. It must therefore be the duty of the government to provide the ways and means for the support of public schools, in which the children of our country may all be educated.

3. For this object provision was made, to some extent, by congress, at an early period, when the lands were yet the property of the United States. By an ordinance of con. gress, the territory was laid out into townships containing thirty-six square miles each, being six miles square. Each township was laid out into sections of one mile square each, or one thirty-sixth part of the whole. There were, however, three portions of the territory now comprising the state, which were not embraced in the provisions of that act of congress : the “United States Military Tract,' the “Connecticut Reserve," and the “ Virginia Military Reservation."

4. Provision was afterwards (1803) made for schools within these tracts also. Congress enacted, that one thirtysixth part of the land in the Virginia Military Reservation should be appropriated for the use of schools within the same; and eighteen quarter townships in the United States Military Tract, being estimated one thirty-sixth part of the tract, for the use of schools within the same; and fourteen quarter townships in the same tract, for the use of schools in the tract called Connecticut Reserve. Thus about one

the government to provide for educating the people ? 3. How were the lands originally laid out ? By what authority? What tracts were excepted by this ordinance ? 4. What provision was afterwards mado thirty-sixth part of the lands of the state is public property, set apart for the purposes of education.

5. These lands are either leased or sold; and the money arising from such lease or sale, is paid into the state treas. ury, and constitutes what is called the school fund. The state auditor keeps an account with each township having a school lot, and also with the several tracts before mentioned, that it may be known what portion of the school fund is derived from each such township and other district of country, and what portion of the interest on the fund be. longs to each. 6. The state is at present the borrower of this fund ; that

; is to say, it uses the money received from the school lands, in paying debts incurred in constructing its canals; and for such use it pays annually the interest, which is distributed among the several townships and other tracts, in proportion to the amount of each one's share of the school fund.

7. Besides this fund provided by congress, a temporary fund for the same purpose has been established by the state. This fund consists of interest on the state's share of the Uņited States' surplus revenue, the revenue from banks, insurance and bridge companies, and other funds to be an. nually provided by the state ; (in all $200,000 ;) which is to be distributed yearly among the several counties, in proportion to the number of white youth in each, between the ages of four and twenty-one years.

8. The “surplus revenue" above mentioned was received in 1837 from the treasury of the United States, into which there had accumulated more than thirty-seven millions of dollars more than was necessary to defray the expenses of the general government. This surplus not being wanted for government purposes, was distributed among the several states, to be kept by them until called for by congress. The sum deposited with this state,* (sometimes called deposit fund,) was nearly four millions of dollars.

9. In addition to the money arising from the funds which

respecting these tracts? 5. How are these lands disposed of? How are the proceeds applied ? 6. To whom is this fund loaned ? 7. What temporary fund for school purposes is provided ? 8. What is this surplus revenue ? About how much was this state's portion ? 9. What

have been described, a considerable sum is raised yearly in every county by a tax, not exceeding two mills, nor less than one mill, on every dollar of the amount of taxable property in the county, to be levied and collected as other county taxes.

10. School moneys are generally apportioned among the several counties, townships, and districts, according to the number of children in each. The township clerk takes every year an enumeration of all white youth in his town. ship, between the ages of four and twenty-one years, (omitting married persons,) and reports the same to the county auditor, who reports to the secretary of state the number of all such youth in the county. The secretary of state fur. nishes the state auditor with the number of such youth in each county ; and the state auditor apportions the funds among the several counties. To the portion received by each county, is added the amount raised by tax in the county; and the whole is apportioned among the several townships and districts.

11. Districts are laid off, and altered, when necessary, by the trustees of townships. A meeting is held annually in each district, for the election of officers. Three directors are chosen, whose duty it is to manage the affairs of the district. One of the directors is to serve as clerk and treasurer.

12. The county auditor is the county superintendent of common schools, most of whose duties in relation to schools have been already mentioned. He apportions the school moneys among the districts, and gives to the township treasurers orders on the county treasurer; and makes abstracts of returns made to him from the townships.

13. The township clerk is the town superintendent of com. mon schools. His duties also have been mentioned in part. He takes lists of youth ; (see section 10 ;) fills vacancies in the office of district directors; visits the schools in his township once a year; and estimates the amount of mo. other sum is yearly raised for schools ? 10. How are school moneys apportioned among the counties, &c. ? 11. By whom are districts laid out? What officers are elected in the districts ? 12. Who is county superintendent of schools ? What are his duties? 13. Who is town

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