The Formative Period in Alabama 1815 1828

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The Formative Period in Alabama 1815 1828
Thomas Perkins Abernethy
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35 It was in- tended from the first that the greater part of the fund should be used as an endowment, and, considering the hopes that were entertained for the success of the Bank, there was nothing morally wrong in the Governor's plan for investment, but his attitude shows where his interest chiefly lay. About $89, 000, or practically all the cash received in payment on the lands sold, was invested by the trustees of the university in the Bank before anything was done to give the institution of... learning a practical existence. 36 Governor Murphy, on coming into office, advised the legis- lature to locate the university, 37 and in 1827 Tuscaloosa was 31 Act of Dec. 18, 1820.
32 Act of Dec. 18. 1821.
33 Alabama, House Journal, 75 t seo. ; Cakawba Press, June 29. 1822.
34 Alabama, Senate Journal, 1828, 98.
35 Franklin Enquirer, April 21, 1824; Alabama, Senate Journal, 1825, g so Alabama, Senate Journal, 1828, 98. Z^ Ibid. , 1826, 6.
128 THE FORMATIVE PERIOD IN ALABAMA selected as its site.


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