Rensselaer Semi-Weekly Republican, Volume 35, Number 49, Rensselaer, Jasper County, 24 February 1903 — Much Unloaned School Fnnd Money. [ARTICLE]

Much Unloaned School Fnnd Money.

The state superintendent of public instruction has prepared a table showing the amounts of school fund now lying idle in the different counties of the state, and upon which the counties have to pay 6 per cent, interest, to the school fund. The whole amount is $543,478. Jasper cpunty is put down for’only $761, and this comparatively very small suiu has been loaned since the report was made, so that our county does not now have to pay any school fund interest. A few years ago it was difficult to keep all the money loaned out in this county, but recently it has all been kept loaned. In some counties of the state the amount of this idle but expensive school fund is very large. In Benton county, $14,000. Allen SIB,OOO, Grant SB,OOO, Hendricks SIO,OOO, Jay 13,000, Lagrange SIB,OOO, Lake $22,000, LaPorte $35,000 etc,, and Marion has $112,000. The law ought to be changed so that this money could be loaned at a lower rate than 6 per cent.