The permanent fund of the Agricultural and Mechanical College has consisted up to the present time of the $209,000 of state bonds in which the proceeds of the sale of original land endowment by the Federal government were invested. Since by the Constitution of 1876 (art. 7, sec. 13) the College is a branch of the University of Texas the permanent university fund is in a way the permanent fund also of the College. And in the grant to the University of one million acres of land in 1883 the act specified that this land endowment was for the University and its branches, including the branch for the education of negroes.2

The income from the Agricultural and Mechanical College fund constitutes but a fraction of the receipts of the college. In 1915 it amounted to only $6,150. From 1880 to 1890 the university fund constributed substantially to the maintenance of the college and from 1880 through 1899 the total of the university funds appropriated to the college was $65,000. Since 1900 there has been a tendency for more liberal treatment of the institution by the legislature. The total disbursements out of the general treasury for the College and the experiment stations during the period 1880-1915 was $3,618,210.3 The amount derived during this period from the permanent fund of the institution was over $515,000.1 The Agricultural and Mechanical College is the beneficiary of the experiment station acts of the Federal government, and in addition, it has received the fees for the state inspection of animal foodstuffs and state control of fertilizers.2

1 Laws of 1913, p. 457.

2 J. J. Lane, History of Education in Texas, p. 135. As a result of an agreement between the governing boards of the two institutions the University has turned over to the A. and M. a share of the permanent fund in the form of land notes, but this has not proven to be satisfactory. A constitutional amendment was defeated in July, 1915, which provided for a division of the land endowment and for a repeal of the constitutional provision against appropriations out of the state treasury for buildings for the University.

3 This is the amount of warrants drawn on the general treasury of the state.