Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1872-05-04

Its busy cares onco more laid by,
gladly watch the setting sun,
And never for its rising sigh,
For well know its foods Of gold
viii bring no more tho days Of old.
MARCH rs, 1872.
The International Bonds Returned by
Comptroller Bledsoe.
OFFICE OF COMPTROLLER OF ACCOUNTS,
AUSTIN, TEXAS, April 25, 1872. !
Governor Z. J. Davis, Austin, Tex
as.
SIR-The following communica-
tions have been received concern
ing the bonds of the International
Railroad, viz:
GOVERNORS OFFICE, |
AUSTIN, April %, 1872. !
SIR Herewith | send you three
hundred (3O0) one thousand Isl ,000)
dollars bonds for the International
Railroad Company, numbering from
two hundred and one (201) to five
hundred (5O0D both inclusive, which
you will please sign and turn over
to the Comptroller to be- counter
signed and registered.
Respectfully,
[signcd] EDMUND J. DAVIS,
Governor.
Hon. Geo. W. Honey, State Treas
urer, Austin Texas.
A similar communication trans
mitting two hundred bonds dated
March II, 1872, was received at the
Treasury Department.
TREASURY DEPARTMENT, J
STATE OF TEXAS,
AUSTIN, TEXAS, April "a, 1872.
Hon. A. Blodsoe, Comptroller, etc ::
SIR-IIerewith | hand you five
hundred (50O) one thousand (Sl,-
000) dollars bonds for the Inter
national Railroad Company, which
l have signed, and as requested by
the Governor, l deliver the same to
you that you may sign and register
the same agreeable to law.
Very Respectfully, yours, &c.
[signod] GEO. W HONEY,
Treasuor.
JOHN II. BURNS, Chief Clerk.
In returning the bonds ofsaidCom-
pany, signed by yourself and the
Treasurer of the State without being
'countersigned and registered" in
this department of the State Cow
ernment, l refer you to my cores
pondcnce with the Attorney Gen
eral of the State, accompanying
this for some of the reasons which
have influenced me in declining to
be q party to the saddling of the
people with what | regard as an il
legal and unconstitutional debt.
The countersigning and register
ing of these bonds would also have
imposed upon me the additional
duty of levying tax upon all the
property, real and personal, in the
State, to meet the liabilities grow
ing out of the issuance of the bonds.
1 greatly doubt the power Of the
Legislature to clothc mo with these
extraordinary prerogatives, and
while | will cheerfully and faith
fully discharge every duty cnioined
upon me by law, l confess l shrink
from the responsibility of levying
this heavy tax for SO unrighteous a
purpose, in, as | believe, the absence
of all law, to sustain me in doing
so.
A new Legislative Assembly Is
to convene in January, 1872, elec-
ted by and fresh from the people !;
IN assembly, it is presumed, that
will be fully advised of the wants
and interests of tho people of tho
State; and l deem it wiser to have
additional legislative Interpretation
of this measure. If the incorpor-
ators of the International Railroad
are not willing to abide said inter
probation, the courts of the country
are open for reversal Of my de-
cision.
This so-called law provides for
the issuance of ten thousand dollars
to the mile, or about six million of
dollars, and for the payment of
eight per cent interest and two per
cent, sinking fund for period of
thirty years, which would swell the
debt, principal and interest, to
about the sum of twcnty-four mil
lions of dollars.
The said appropriation together
with an appropriation of three mil
lions of dollars to the Southern Pa
cific Railroad Company, and three
million of dollars to the Trans-Con-
tinental Railroad Company, with
eight per cent. interest and two
per cent. sinking fund, running
through a like period of thirty
years, provides for the creation of
an additional debt of say twenty
four millions of dollars, making
grand aggregate of about "fcrty-
eight millions of dollars" it is pro-
posed to tax the people of this State
for the next thirty years for the
purpose of making an ancondition-
al present % railroad monopolists.
Texas has become the most invit-
ing field in the Uaion for the con-
structicn Of roads and tho invest