Page 3

models in literature, are the surest guarantees of a virtuous
heart and well regulated affections. Moral and political philo-
sophy are the basis of that charecter, which is most
in a republic.

The diminution of students in the law class may be attribu-
ted to the pressure of the times, the variation in taste or proba-
bly ot the fact, that each town contains a law school of its own,
where the science is taught and the art practically learned, or
perhaphs the number is settling down to that which may be uni-
formly anticipated for the supply of the vacancis in the profes-
sion; on this head we refer to report (L.)

It is matter of pride to witness Kentucky irradiating her sis-
ter states, with the lights of knowledge and dispensing the bles-
sings of education, to the youth of states much older in politi
cal existence than herself.

There are 155 Students in the University from 14 states.
There are 320 Students, pursuing in Transylvania University
the path of science, to usefulness and to fame. No object can be
more grateful to the legislature, than to contemplate the prosper-
ous results of that liberal and enlightened policy, which has
patronized, fostered and cherished this institution into such ma-
turity. The committee amidst the many causes which exist for
exulting at the prosperity of the University, can but regret, that
that institution should still be indebted to the United States
Bank, the sum $5775, specic- this two after the fund appro-
priated to the use of the University out of the dividends of the
Commonwealth's Bank, has been reduced to $2331 37 1-2 in
paper and after a distribution of ten per cent. upon the stock
held in the bank of Kentucky.

They recommend to the trustees of the University, the strict-
est economy, that they refrain from incurring any expenses not
indispensibly necessary to the vitality of the institution, until
that debt is extinguished and their fiscal affairs placed upon a
safer foundation.

It is also advised that the item of $9106 30 of old debts as
will be fully explained by report marked (I.) be critically inves-
tigated and scanned, so much realized as is practicable, and that
which cannot be collected, be at once credited by insolvencies,
and be no longer estimated as a fund, swelling the value of the
institution.

It appears from the report (K.) that Transylvania
University, will from its profits be perfectly enabled to support
itself for the ensuing year. The public patronage, which has
been bestowed through legislative enactments upon this institu-
tion, your committee consider has resulted in manifolf profit to
the state.

The strength of the state physically consists in vigorous yeo