The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1874-07-02

be paid out Of the funds collected BY the
officials from taxation and other sources.
So that the very class who most needed
their money were told to wait until the
Governors scheme proved a success; and,
in the meantime, those claims were rep1-
dated. An act having such q provision
could only prove disastrous, because it was
virtually saying to the money lend
ers, thereafter it may be necessary
to retire the bonds OF coupons which you
now purchase for an indefinite period Of
time, but they shall be paid just 50 soon as
the State can make arrangements to get the
money Capital is exceedingly sensitive
and will not be invested where there is the
faint Of repudiating Just liabilities. But
the Governor shall be his own critic. in
his letter to Mr.. Delaney he makes use Of
the following emphatic language, which
asks for no defense from the Gqzette.
'sThe Legislature have made ample pro-
visions for the payment Of the public debt.
Il only remains for the Executive to act and
carry out the law. will do it promptly,
and the debt will be paid within the next
hundred days. I mean a5hat 1 sag.
Every respectfully,
.'RIcHARD COKE"
In the above he asserts that ''the Legisla-
ture haye made ample provision for the pay
ment Of the public debt, " and that lit only
remains for the Executive to act and carry
out the law" Who then is responsible for
the failure, if not the Gopfrnorg He
said that ample provision was made.
Then the failure is truly chargeable
to him and nobody else. He had all that
he asked for. But the failure proves that
the Governor was wrong; that he was not
a fnancier; and that, in refusing to consult
men who were conversant upon such mat
tiers, and to be governed by their advice he
diregarded the dictates of wisdom and is
justly censurable for the present condition
of the finances.
The Governor did not act wisely when he
selected an agent who was so little known
as Mr.. Moody However good man he
might be, and however pure and upright,
he did not have the reputation for such a
position.
The whole matter has been handled in a
bungling manner; and tile result does not
surprise many who had the independence
to think for themselves.
And now another class are likely to suf-
fer on account of the deficiency of the
school fund. That fund is said to be short
between one hundred and two hundred
thousand dollars. The poor teachers will
be calling for their money; and if their
claims are not paid, the consequences will
be serious and damaging. Five hundred
thousand dollars were reported to be in the
treasury for the payment of teachers, unless
we have been misinformed. What has
been done with the money! Has it been
paid to employees Of the State with the ex-
pectation that the sale of the bonds would
enable the officers OF the State to replace itG
We do not believe that the money has been
corruptly used; but that it has been i'm
properly paid out.
The STATESMAN Office has suffered heav-
lily by the Governors policy, because the
proprietors have held their warrants upon
the assurance of the Governor that they
would be paid in one hundred days. The
prospects now look gloomy; and it may be
months before the creditors of the State
will be paid for claims and warrants which
were due prior to the thirteenth of January
last 81