COMMON SCHOOLS.
On motion of Mr. BRANHAM, the order of business was further suspended, and the House took up the consideration of the bill [H. R. 199] for the distribution (instead of the landing) of the interest on the sinking fund and other funds belonging to the common schools, and repeal, &c. It was passed to the second reading.
On his further motion, the Constitutional restriction was suspended--yeas 70, nays 0--and the bill was considered as engrossed, ordered to the third reading, read the third time and passed the House of Representatives-yeas 84, nays 0.
On motion by Mr. BRANHAM, the House took up the consideration of his bill, [H. R. 187,] (with reference to the same matter,) requiring the Commissioners of the State Debt Sinking Fund to make settlement with the Sinking Fund Commissioners, &c., (see page 304.).
The bill was read the second time.
Mr. DUNHAM did not think it right to account to the fund for the face of the paper. He would strike out "par value," and insert a clause to issue the bonds of the State for the prices paid for these stocks.
Mr. BRANHAM preferred that common schools should be benefitted by this bill, instead of the State. These stocks were worth 90 cents. He would increase the sources of the support of the schools, so as to avoid tax, &c.
Mr. DUNHAM. He objected to tying up so large a State debt. Under this bill, the State is committed to pay this, without contingency. It would be sufficient to simply reimburse the schools for what is actually paid out.
Mr. NEWCOMB explained the provisions of the bill.
The amendment was rejected.
On motion of Mr. BRANHAM, (the constitutional restriction being suspended for the purpose--yeas 81, nays 2--) the bill was considered as engrossed, ordered to the third reading, read the third time and passed the House of Representatives--yeas 73, nays 5.
