LEXINGTON, NOV. 11, 1824.
In answer of your note of this day, relative to the item of
$9,106 of old accounts, the committee state, that a very small
proportion of that sum is actually due. The present Treasurer
being directed to report the condition of the monied concerns of
the University, went over the former Treasurer's and Steward's
books, as far back as fifteen or twenty years, and trauscribed
the balances as they stood, not knowing (what was the fact) that
most of them were charges made by the former Treasurers and
Stewards, of payments made to persons to whom the University
was indebted, and in whose favor the proper credits had not been
entered. This fact was not known to the present Treasurer,
but was to many members of the board, and appaears from the
papers and proceedings of the institution; and when the Treas-
urer's report came before the board, there was an order made,
that the Treasurer and Clerk should go over the books and give
each account its proper credit. The account rendered was the
Treasurer's annual report; it having been made out including
the list of old debts, could not conveniently be changed, and
was, therefore, laid before your committee in that shape.
There is about $2,000 of old debts actually due the institution.
$1,000 of which, is a note of Paul Skidmore, deceased, late of
Louisville; the rest are old notes and open accounts of several
years' standing, but few of which are likely to be collectd. -
Some of those debts have been lost by insolvencies, and some by
removals and lapse of time.
The organisation of the institution at this time, will, in future,
prevent any like occuraence, as there is no credit now given.
Committee of Finance.
T. D. Carneal, Esq. Ch'm. &e.
To Thomas D. Carneal, Esq. Chairman of the Committee of the
General Assembly, appointed to enquire into the state of Tran-
The board of Trustees of Transylvania University, to whom
the communication from the Committee of the General Assembly
was made, requesting to know the cause of the "diminution of
the number of students in the Law department, since the last
annual report," and "what measures are necessary to restore
that department to its former respectability and usefulness," re-
port: That the resignation of Professor Barry occasioned much