18is all that is necessary to try the experiment of putting the institution upon its feet, make it what it was designed to be by the Acts of Congress and the Constitution of Nevada and keep it abreast with modern ideas of education. To undertake the experiment with a regular annual expenditure of less than $12,000 would be again to invite disaster. The outlay of this amount would be sufficient to maintain three departments— mining, mechanical and academic—on such a basis as to certainly assure its being crowded to its capacity. About $11,000 will defray the cost of the mining and mechanical departments for the next two years. There will be enough money in the Interest Account, 90,000 Acre Grant, to meet the expense of these two departments. A similar amount will provide very successfully for the academic preparatory department, and pay all the incidental expenses of the institution, if economy be observed. The Contingent University Fund will also be suficient to meet the expense of operating this latter department.This plan involves the employment of a Faculty of four professors, to-wit: Principal and Assistant Principal, an Instructor in Mineralogy, Engineering and Assaying, and an Instructor in Mechanics. All that would be required from the General Fund during the ensuing two years would be the appropriation to complete the building, estimated at $6,000, $1,000 more for the improvement of the grounds, and $3,000 to be expended in equipping the basement of the building with tools, etc., for the mechanical department.This we know would involve the expenditure of all the accrued interest in the two University Funds, together with an appropriation of $10,000 from the General Fund. But what is that interest money there for unless it is to be put to educational use? We do not hoard the interest money derived from the State School Fund, but apportion it every six months, sending it on its beneficent mission into the various counties. There is no reason, therefore, for not putting the accrued interest money belonging to the University Funds to some good use. We submit that the proposed experiment would be such use. If this can be done under the Constitution, and it is demonstrated to be a success, the people of Nevada will not hesitate to appropriate thereafter at least $5,000 a year from the General Fund, and allow the University to have about the same sum annually out of the interest derived from the State School Fund. These sums, together with the interest coming from the University Funds, would be amply sufficient to keep the University going in good shape until, with increase of wealth and population, we shall be able to advance it to a higher plane.THE PRICE OF LANDS.Section 3 of an Act to provide for the selection and sale of lands that have been or may hereafter be granted by the United States to the State of Nevada, "Approved March 12,1885," confers upon the Board of Regents the power to fix a price upon any of said lands not settled upon or applied for by individuals prior to the date of such price having been fixed. At the meeting of the Board, held on September 12,1885, Regent Shaw submitted an order raising the price per acre upon all agricultural and grazing lands within the limits of the Central Pacific Railroad grant, immediately contigious to springs, lakes or streams, from $1 25 to $2 50 per acre. Regents Shaw and Getchell voted to adopt the order; Regent Rand dissenting. The order was at once transmitted to the Hon. C. S.
