In 1795 the committee on schools produced a plan for subscriptions to a permanent school fund,[545] which was referred to the next meeting. A report was then made, but it was thought that since all of the committee had not collaborated it should be, and accordingly was, postponed for the time being.[546] In the fifth month a report was made, but still some changes were thought to be necessary.[547] [Sidenote: Question of a plan for school funds prior to 1795] Not until the twelfth month (1785) was the report finally produced, which is given below. There has been some reference made by local historians of Chester County, stating that Kennett Monthly Meeting had as early as 1787 provided a plan for subscription for the provision of permanent funds.[548] The rule “number 5,” which is quoted by them, is exactly the same rule as the fifth one which is mentioned below. The writer has found no such reference to a plan for funds at the earlier date (1787). It seems quite probable that the statement made in Mr. Cope’s work is an oversight, perhaps an error in setting up an eight in place of a nine. The entire list of nine rules is given. [Sidenote: Scheme for funds reported in 1795] 1. A plan for raising fund for the benefit of schools within the bounds of Kennett Monthly Meeting, whereby Friends may have an opportunity of manifesting their benevolent intentions by subscribing thereto. 1st. That each subscriber to this plan pay at the time of subscription, or give his or her note to the treasurer or clerk of the trustees, or their successors appointed by Kennett Monthly Meeting, to have the care of this fund, for a sum of money payable at any time, not exceeding three years after date, with the interest of five per cent. per annum paid annually for the same. 2d. The treasurer shall have a book for that purpose, and keep fair entries of all money due and received; likewise of all money expended and his receipts shall be a sufficient discharge for any money paid to him for the use of schools. 3rd. Whenever the treasurer may receive any new subscription or any money for the benefit of schools, he shall report the same at the next meeting of the trustees of the said schools. 4th. When the trustees receive any money for the use of schools, they shall as soon as they can conveniently put the same to interest upon good security; or they may purchase land or ground rent therewith as shall appear best for the time being. 5th. The trustees shall, as soon as they see occasion, apply the interest arising from this fund to securing the schooling of the children of such poor people, whether Friends or others, as live within the verge of the aforesaid monthly meeting, provided such children comply with their rules.