Jan. 15. " 24. Feb. 6. April 1. [ No. 5.] STATEMENT of the account with the University Interest Fund from December 1, 1855, to January 1, 1857. 1855. $0 40 Dec. To Warrants, Jacob L. Bair, interest refunded, .... 80 1856. 66 John M. Chase, Treasurer University,. 4,200 00 State Treasurer, advertising lands,.... 15 33 John M. Chase, Treasurer University,. 5,000 00 Jan. 1. By interest due from State for interest on principal, 3,995 56 received on sales University lands,.... " 31. 21 10 695 11 924 68 4,031 65 11,392 58 66 " 66 66 due from State for interest on principal, 66 66 66 66 66 due from sales for interest on principal, received on sales University landɛ, . . . . 66 3,521 83 727 92 4,069 67 166 95 2 30 334 27 4,106 99 389 14 129 06 16 56 due from State for interest on principal, 4,121 98 $38,858 43 [ No. 6. ] MEMORIAL of the Board of Regents of the University of Michigan, relating to the debt of said University. To the Honorable, the Senate, and the House of Representatives: The undersigned, in behalf of the Regents of the University of Michigan, begs to renew before your Honorable bodies the petition which has been presented to the two preceding legislatures, and which praye for relief from a debt of $100,000. The interest has been remitted for the four years past, but as the principal is now about falling due, and all the disposable income of the University fund is pledged for the redemption of the stock issued which represents the loan, the relief prayed for can no longer be delayed without causing serious embarrassment to the University. was issued by the His Excellency the Governor of this State, in recommending, in his late message, the remission of the debt, has so justly presented the case, that we beg to call your attention to his language: "Soon after its organization, a stock of one hundred thousand dollars State, to raise money to construct buildings for colleges and professors' houses, to be redeemed out of the sale of the lands, granted by Congress," for the support of a University, and for no other purpose whatsoever." The act authorizing the issue of the stock, pledged all the disposable |