Statement of Receipts and Disbursements. from December 1, 1846, to November 30, 1847, inclusive.

DR.

For amount received to the credit of the following funds:

"deposited by Com., university in'st fund, $7,877 78

All of which expenses, &c., have been audited and allowed.

SCHOOL LANDS.

Immediately upon the Revised Statutes' taking effect, I advertised for sale, at public auction, at a minimum of four dollars per acre, under the provisions of chapter sixty of said statutes, all the unsold and unimproved school lands (excepting the section at Lansing and that near Union City,) in the counties of Allegan, Berrien, Branch, Barry, Calhoun, Cass, Clinton, Eaton, Genessee, Hillsdale, Ingham, Ionia, Jackson, Kalamazoo, Kent, Lenawee, Lapeer, Livingston, Monroe, Macomb, Montcalm, Oakland, Ottawa, Saginaw, St. Clair, St. Joseph, Shiawassee, Van Buren, Washtenaw and Wayne.

No school lands in any of the other thirty-six counties in the peninsula, containing about 594 sections, have ever been called for. They have therefore never been put in market. And in Allegan, Barry, Clinton, Eaton, Genesse, Ingham, Ionia, Kent, Lapeer, Montcalm, Ottawa, Saginaw, Shiawassee, St. Clair and Van Buren-fifteen counties, containing about 293 sections, there have been sold but 164 sections; averaging only about one section to a county. In Berrien, Branch, Cass, Calhoun, Kalamazoo, Livingston, Macomb, Monroe, St. Joseph and Hillsdale-ten counties, containing about 159 sections, the total amount of sales is about 62 sections-a little over six sections to a county. In Jackson, Lenawee, Oakland, Washtenaw and Wayne, out of about 101 sections, have been sold about 69 sections.

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By this indefinite bird's-eye glance, showing where, and to what general extent, the sales have been made, we perceive that we have only got fairly started in the sales of our school lands; not having yet sold half in the two southern tier of counties, into about seven sections ; and but a small portion north of these. There are now about 1000 sections of unsold school lands in the peninsula, to which are to be

added those of the Lake Superior tract, more than 500 sections, ten sections of which lie within the trap range of the richest minerals of that country.

The total amount of all the school lands sold up to the 30th November 1847, is 94,937 acres. We have sold during the last fiscal year 18,990 30-100 acres, which is almost as much as was sold during the three preceding years, (that amount being 21,171 30-100 acres.)

And, if the country continues prosperous, the sales will still continue to increase. For there is now a rapidly increasing northern demand, while the sales in the southern counties are still increasing. This one year's sales adds to the school fund nearly ONE HUNDRED THOUSAND DOLLARS. This is truly an encouraging prospect for our schools, and promises soon a good increase to the interest fund for distribution. To this cheering prospect of the school fund is to be added the promising avails of the section at the capital. The appraised value of the lots upon that section exclusive of the 48 lots upon the 30 acres selected by the commissioners for the use of the state, is 95,527 dollars. The lots upon said 30 acres have not been appraised. A proportionate and relative appraisal would bring those lots at about 12,000 dollars. Which would bring the whole appraised value of the section, independent of Capitol Square, at 108,000 dollars. The sales of lots upon this section already amount to 18,233 dollars.

On examining section sixteen in town five south of range seven west, I find it a good quality of soil, heavily timbered, lying within a mile and a half of Union City, and possessing in some parts a rich quality of kidney iron ore, though probably not in large quantities in any one place. It is found in detached pieces on and under the surface of the ground, weighing from one to about thirty pounds. This ore and good clay are probably the most valuable fossils to be found in this tract of earth.

I had decided, in my own mind, that it was time to offer it for sale; that it would not increase in value any faster than the money at interest; and should, therefore, have put it in market the past fall, had I not doubted the legality of the step, from the tenor of Act No. 78 of 1816, reserving from sale all lands containing mines and minerals. From the spirit of the 1st, 2d and 3d sections of said act, I felt at first, inclined to question the intention of the legislature to reserve the lands containing iron ore; and should, therefore, have thought it my duty to disregard it, had not the 4th section included iron with the other ores for specific taxation.

I think these lands should be put in market, at public sale, with a minimum fixed at not less than six dollars per acre. There being a heavy blast furnace in successful operation at Union City, the timber will be valuable for coal. And in clearing and improving the lands,

the farmer may, in many places, pick up and raise, at little expense, ore enough to pay for his land; and on some lots, no doubt, a great deal more; and then he has a fine farm, near a flourishing country village. The inhabitants, in that vicinity, are not insensible to these facts, and the lands will, therefore, find a ready sale.

UNIVERSITY LANDS.

The total amount of university lands selected by this State is 44,416 31-100 acres. Of which there have been sold, after deducting all forfeitures, 19,606 80-100 acres ; leaving a balance unsold, of 24,809 51-100 acres.

It being made my duty by act No. 30, of 1847, to "inquire into the situation and condition of the university lands lying near Toledo, in the State of Ohio," and to put them in market if it should appear to be for: the interest of the fund so to do, I went, last July, to personally ex

amine them.

These lands are known as "lots Nos. 7, 8, 9 and 10, in the United States reserve, of twelve miles square, lying on the Maumee river." They contain 515 10-100 acres. Their situation on the west bank of this river is high and beautiful, and a portion of them is embraced within the limits of the city of Toledo. And being lands of a rich soil, handsome face, and of the class denominated "heavy oak openings;" they are already valuable, and if put in market, would, no doubt, sell much above the minimum price. The Wabash and Erie canal passes nearly through their centre and terminates only about a mile below them.

But notwithstanding their present enhanced value, and the prospect of a good price, should they be put in market; yet from the present unusually flourishing condition of Toledo, and evident tokens of a henceforth increasing prosperity, it seemed to be advisable to delay offering them for sale a little longer. From present prospects, I think these lands must increase in value much faster than the money at interest. But should the prospects change, they can, at any time be offered. In the meantime, I would suggest the propriety of a resolution of the legislature, asking the legislature of Ohio to exempt said lands from taxation. They being of a class of lands usually so exempted, being granted for the purpose of educating our youth, who, in this age of change and migration, will be as liable to become citizens