of sales since that period, there has never been paid os large a sum for interest in any one year since. It may be said that interest would not have been paid; but the ony answer that can be given to this, is, that the legislature did not allow time to prove the positive of this negation. 6,533 acres of University land was sold prior to 27th December, 1837, at an average price of $22,851-100 per acre. In the year ending December 31st, 1838, 527 72-100 acres were sold at an average price of $20,29-100 per acre, showing manifestly that the legislature of 1838, releasing lands upon which there were settlers and improvements, on favorable conditions, held out the expectation and cherished the hope of others that some more favorable terms would be thereafter provided for them.— In both the years 1837 and 1838, it will be observed, that, notwithstanding the minimum price, $20 per acre, subsequently deemed so extravagantly high, all the University land offered at auction, brought an average above that minimu. Notwithstanding the diminished sales for 1833, we find by the report of the superintendent of public. instruction that interest amounting to $9,171 42-100, had been actually paid by purchasers, and the further sum of $2,000, or $3,000 more was by him expected to be paid as interest for that year. 1839. By the report of the superintendent for this year, it appears that, although the total amount, being ten per cent instalments, paid as principal, was only $1,607 90, yet the interest paid that year was $6,402 91. 1840. During this year the superintendent reports only 43 acres and 70-100 sold, and $763 61-100 as interest. To account for this extraordinary diminution as well in sales as in receipt of interest due, it be well to observe the effect of the acts of March 25th, and may March 30th, 1840: From the provisions of these acts, purchasers were induced to defer further payment, under the expectation that their interested petitions and applications for relief would be granted; nor were they disappointed in their calculations, as appears by the enactment of 1841, by which University lands were reduced to $15 per acre, and interest reduced in like proportion. To advert to the several and various provisions of the continued annual legislation on this subject from 1837 to 1844, inclusive, would swell this communication, and render it alike tedious to the writer and the Senate. It may, therefore, suffice to remark, that the continued legislation has most naturally, induced and encouraged continued ap plication on the part of individuals interested for relief. In the opinion of the undersigned, this legislation has been not only inexpedient but unjust. Inexpedient, because thereby purchasers have been induced to postpone payment agreeably to their contracts with the state, and thus introducing by the example a like disregard to punctuality in the observance of contracts between individuals. Unjust, because the Board of Regents make contracts with professors and principals of branches, relying upon existing provisions of law to furnish the means for fulfilling on their part. But another act is passed-a new provision introduced-perhaps the payment of interest deferred-and thus, the professor with his family is turned out, if not to starve, certainly with sufficient cause to complain of gross injustice somewhere. Men qualified for the chair of the professor in the university who have devoted, as well the elastic energies of youth, as the matured development of the judgment and understanding, in the pursuit of science and intellectual attainment, are rarely equal to a successful combat with the vicissitudes of a mercurial life. Possessing the "ingenii benigna vena," they are content with a comparatively small pecuniary reward, even a bare sufficiency to meet the frugal and necessary demands of life. Justice demands that this should be certain, and specially does she expect at the hands of the representatives of honorable and enlightened freemen that this just compensation should not be dependent upon a contingency so vacillating and temporary as annual enactments. Sed nos immensum spatits confecimus æquor, Re Yet the undersigned cannot close without remarking, that owing to the legislative enactment prior to 1844, the board of regents, in the early part of that year, were so far as within their means or power of redress, inextricably involved in financial embarrassment. course was had to the only source competent to relieve the Legislature-representatives worthy of their free and intelligent constituents-that legislature more than responded to the call of the regents, in the act for the relief of the University of Michigan, approved March 11th, 1844, This act, while it enabled the regents to meet their contracts with professors and others, and thus saved the profes sors from great difficulty and the regents from bankruptcy, avoided the train of evils consequent upon the great precedent the general bar krupt law of Congress. A repetition of either law would be calamitous and uncalled for. The act February 28th, 1844, provides for the receipt of state treasury notes and warrants bearing interest in payment of principal on purchases of University lands, and had the twofold beneficial effect upon the purchaser and the Universityof enabling the former to pay, if he so elected, the entire debt due by him, and secured to the latter the payment of the interest thereThe same act had the further indirect effect to lessen the price of University lands and yet not detract from the amount of the interest fund. Upon careful enquiry, it may be assumed, beyond contradiction, that the cash price of University lands during the year, 1845, did not exceed 5-8 of $12-that is, $7 50-100 per acre. on. A review of past legislation and its effects, must convince that legislation, whether for bank charters or for other individual and sinister objects, does not promote the general public welfare. Every act relating to a trust so highly beneficial and so sacred as the cause of education, it is hoped will be approached with the greatest circumspection, and will be consummated only after the assiduous deliberation recommended in the accomplishment of another object Vos exemplaria Nocturna versate manu, versate diurna. From the best sources of information, of gentlemen whose judgment may be confided in, it is estimated, that internal improvement warrants, bearing interest, will probably for the current year, not command beyond seventy-five cents in cash, for the dollar; it follows that University lands may be purchased, in cash, for nine dollars per acre. The experience of the past sufficiently demonstrates that reduction in the price of University lands, where these lands are designed only for agricultural purposes, cannot greatly increase the sales,unless indeed the reduction should be such as to bring these lands into competition with those of the United States or of the non-resident land holder. But such a policy, all will agree, would be suicidal alike to the University and to every benefit anticipated from its present fund. If the regents of the University be permitted to rely upon the resources now provided by law, and those provisions be complied with by purchasers, which it is confidently thought they will do, if no hope is extended to them of future enactments for their special and individual benefit, the Regents, having, as is hoped, profited by their past errors, will take care to limit their appropriations to their receipts, and thus the necessity of a sale of University lands, beyond the exigencies of ordinary increase of population in this state, and for the purpose of revenue only, be obviated. Thus, this munificent fund, while it shall furnish the means for educating the youth of our state who, at present may appreciate its benefits and desire to participate them, may be handed over unimpaired to endless generations of the sons of Michigan. Believing that the Board of Regents, if convened, would accord in sentiment with the foregoing, howmuchsoever they might have regretted that it could not have been placed in abler hands for dijestion and arrangement; the undersigned, with those whom he has opportunity to consult, is of opinion that the reduction of the price of University lands is at this time inexpedient, and would result in the lasting diminution of the fund. In conclusion, therefore, and having the best interests of that state in view, in which for weal or woe, he anticipates the residence of his descendants-he closes with the liberty of repeating the admonition : Parce--stimulis; et fortius utere loris, J. KEARSLEY, Ch'n. Ex. Com. Board of Regents. Detroit, March 25th, 1846. Report of the Judiciary Committee. Mr. HOWELL, from the majority of the committee on the judiciary to whom was referred a resolution of enquiry into the expediency of exempting from sale on account of any debt or liability incurred after the first day of July 1847, real estate to the amount of five hundred dollars to actual residents, have had the same under consideration and submit the following report: In the discussion of this subject, the committee propose to examine the present position of our government in regard to property and the rights of individuals therein; the reasons upon which that position is founded, as well as its application to our institutions and govern ment. Every material change in what would seem a settled policy of our government, should be proceeded in with the greatest caution, and with due regard to the rights and feelings of all concerned; and no such change should be made but for reasons clear, palpable, and conclusive in themselves. Our opinions in regard to property and individual rights, may justly be said to be derived from our parent country, brought by our ancestors, incorporated into, and made a part of the political economy of this government. The formation of a republican government, based upon the principle that every man formed a part of that government, and that each individual opinion was a component part of that great mental fabric, which, in its progression, is calculated to renovate the world, and dissipate the preconceived opinion that man is incapable of self government, was, at the time, an experiment, without precedent to guide, or experience upon which to found conclusions. The purity of intentions, and the forecast of mind of its framers, formed the only reliable basis upon which they could proceed. The frame work of that government was, perhaps, one of the most beautiful structures ever matured by man, but its details very naturally partook much of the government under which they had been reared. In its organic character were comprehended all the purposes for |