2

The Commissioners, under the direction
of the Board of Trustees, proceeded as ra-
pidly as incoming revenue would per-
mit, to liquidate the outstanding
claims upon the University & to put a
stop at once to all expenditures. They
were engaged in this work, when they were
separated by Secession. The War and
circumstances have entirely prevented
their meeting since the Secession of
Tennessee, No. Carolina & Arkansas have
recruited our Dioceses, it was useless
to prosecute any work, & seeing as Tennessee
remained in the Old Union & as we did
not determine her status until June
Last, when the Country was in the
Confusion of war & my allegiance was
defending his home & fireside, nothing
has been done to advance the University.

It is impossible for the Undersigned
to make any detailed account of the
receipts & expenditures of the Commissioners