History of the Agricultural College Land Grant Act of July 2, 1862: Devoted Largely to the History of the "land Scrip" which Under that Grant was Allotted to the State of New York and Afterwards Given to Cornell University |
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7 ÆäÀÌÁö - State which may take and claim the benefit of this act, to the endowment, support, and maintenance of at least one college where the leading object shall be, without excluding other scientific and classical studies, and including military tactics, to teach such branches of learning as are related to Agriculture and the Mechanic Arts...
56 ÆäÀÌÁö - If any portion of the fund invested, as provided by the foregoing section, or any portion of the interest thereon, shall, by any action or contingency, be diminished or lost, it shall be replaced by the state to which it belongs...
8 ÆäÀÌÁö - ... that a sum not exceeding ten per centum upon the amount received by any State under the provisions of this act may be expended for the purchase of lands for sites or experimental farms, whenever authorized by the respective legislatures of said States.
55 ÆäÀÌÁö - That all the expenses of management, superintendence, and taxes from date of selection of said lands, previous to their sales, and all expenses incurred in the management and disbursement of the moneys which may be received therefrom, shall be paid by the States to which they may belong, out of the treasury of said States, so that the entire proceeds of the sale of said lands shall be applied without any diminution whatever to the purposes hereinafter mentioned.
7 ÆäÀÌÁö - States subject to sale at private entry at one dollar and twenty-five cents, or less, per acre...
18 ÆäÀÌÁö - An act to establish the Cornell university, and to appropriate to it the income of the sale of public lands granted to this state...
7 ÆäÀÌÁö - Section 1 apportions to each state and territory 30,000 acres of public land for each senator and representative in Congress.
20 ÆäÀÌÁö - This act gave to each state thirty thousand acres of land for each senator and representative in congress to which the state was entitled under the census of 1860...
56 ÆäÀÌÁö - That all moneys derived from the sale of the lands aforesaid by the States to which the lands are apportioned, and from the sales of land scrip hereinbefore provided for, shall be invested in stocks of the United States, or of the States, or some other safe stocks, yielding not less than five per centum upon the par value of said stocks...
54 ÆäÀÌÁö - McGraw, the gift was a residuary gift of a very large property to Cornell University. The charter of Cornell University provided that "the corporation hereby created may hold real and personal property to an amount not exceeding three millions of dollars in the aggregate.