The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1875-06-25

SO tho total amount Of tho au-
dted debt of the State, created prior
to and due ut the incoming of tho
present administration, was Si,Ol2,-
l2l 81. Tho amount due on war
rants, unpaid January |, 1875, con-
tanned in tho above account, was II
debt created prior to January, 1874,
and il due school teachers and others
for services rendered in 1873, under
the Davis administration. Tho
amount for the payment OF tho
floating debt, act of March 4, 1874,
of 81 600, 900, was not tho creation,
then, of u debt but n change Of the
form Of n debt created by the Davis
Administrations change of the
creditors Of tho State, whereby the
present administration obtained
money, other than by immediate
and oppressive taxation, to pay the
then creditors of the State, and
thereby saved the State from tho re
proach and stigma of population.
Tho amount Of $500, 1899, due on
pension bonds and certificates, ac-
crued under an act of August l3,
1870, and not under the net Of 1874,
which act Of 1874 only acknowl-
edged and provided means to pay II
debt due under previous law
Right here | will take occasion to
remark that an appropriation is not
the creation of debt, but only the
acknowledgement ofand the provid-
ing means to pay u debt already
created by prcexsting law.
Tho above statement docs not
take into account the doubtful in
dobtodnoss Of the state in its own
bonds due its university and com
mon school fund created in 1864 and
1866, which bonds are still in the
vault Of the state treasury. Nor
does it take into account the def.
cheney appropriations made by the
fourteenth legislature to pay radi-
cal officials the money due them for
services rendered under the Davis
administration and paid them by
the Democratic administration. "By
the by" two of the radical delegates
from this county to the Hemptead
convention were the recipients of
money appropriated by the four
teenth legislature to pay them for
services rendered and debts con.
traoted during the radical admins.
tration, and one of them, too, for
services rendered under the infa-
nous printing law. | suppose this
is the way they arrived at the con.
clusion that we had doubled the
state debt" That is, that the ap.
preparations made to pay them and
their associates, was the creation of
debt. Vol, they may make their
people (freedmen) believe that. Mr..
Editor, being q member of the
finance committee of the house, and
being somewhat posted in the tinan-
cial condition ofthe state, am pre-.
pared to make these statements
First, that, although the debt of the
state prior to and at the incoming
of the democratic administration,
appears to be only a little over four
millions of dollars. yet, fall APP
parently legal and just debts
created by the Davis admin
istration were acknowledged and
provided for, the state debt left by
The Radical administration would
exceed five millions of dollars-I re.
fer to the numerous claims for
school house rent, wood, fuel, etc,
etc, yet to be presented. Second,
That the rate of taxation today is
only fifty cents on the one hundred
dollars, whereas it was, during the
Davis administration, one dollar
and fifty cents, including the un-
constitutional one per cent school
tax, the most of which was collected
and expended by that administra.
ton, and yet IL leaves the State in
debt five millions Of dollars. Gov.
ernor Coke could and would to-day, |
with the revenue derived from one
and one-half per cent tax on the en-
tire property of the State, for two
years, not only pay the entire pres
ent indebtedness Of the State, but |