San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1878-03-30
State ElaanCsal Policy.
[Galveston News

(Gaivsston News
Judge Ireland's manifesto regarding
Texas politics and the coming State
canvass touches the public record Of
his successful competitor for the United
States Senate in very tender point.
Its brief but emphatio reference to
State finances is its most interesting
feature. Alter abundant observation
and with mature deliberation, Judge
Ireland arrives at the conviction. and
explicitly announces it, that the people
of Texas should never haze been re-
quired to pay a dollar by way of inter.
est on a public debt. Phe,true theory
in this relation, he tells us, was to let
the debt Of Texas remain in the hands
of her people until such time as tax.
alton would have paid it. If it had
remained at home each creditor, by
clamoring for his money. would have
educated his neighbor for an increase
of taxation to pay the debt. The 9th
er policy was adopted, bonds were sold
bearing ruinous rate OF interest. and
while the public debt was'thus.incre
ed the people were bullied into the,
false idea that they were having a
cheap government" .E post tacto. en-.
lighteument about mistaken and per-
nicious financial policy is better than
none at all. Anticipative wisdom,
however, is more statesmanlike and
more useful 1t is to be regretted that
when the makeshift and charlatan
policy of working off annual defcien.
cies into funded Indebtedness at ru-
inous rate of interest was being elabo-
rated in design and initiated in prac-
tice, the thunder tones of Judge Ire
land were not heard in unison with the
animadversionl and warnings which
the News took early occasion to utter
with reference to juggle that sought
to delude the people with the idea that
they we're having cheap government
and splendid financial administration.
In the political history of Texas, we
are not aware Of the shining page which
records that Judge Ireland made
public issue with Governor Coke
against the latter's wonderful method
of forcing the State finances, in hun
dred days, to the basis OF pay as you
go" and wrapping an admiring people
in the mysterious luxury Of cheap
government saddled with an increasing
interest bearing debt. 1t is true that
when this piece of financial thauma-
tuygy was in process of execution the
two distinguished politicians were not
competitors and mutually deuunciatory
adversaries. as they subsequently be-
came, but were rolled together, so to
speak, in an embrace of mutual admi-
ration charming to every beholder who
had a soul to appreciate the stored
friendships of Damon and Pythias,
and David and Jonathan. But it is
not to be supposed that any claim OF
personal or political friendship could
have persuaded an eminent citizen Of
Judge Ireland's patriotism, frankness
and strength Of convictions to acqui-
esce in proceedings which be now re-
calls in relating that bonds were sold
bearing ruinCus rate of interest. and
while the public debt was thus increas'
ed the people were bullied into the
false idea that they were having cheap
government" Such a suppositiop is
utterly out Of the question. II is only
conceivable that Judle Irelssd. astaie
though be undoubtedly is about some
things, was as regards The financial
policy which he now reprobates so ve-
hemenily, like many Others. STEPPED in
thick darkness or q captive to strange
de'usion. But the thing is done. Al
most half the annual revenue Of Texas
goes to pay interest on q debt outside
Of the Snte-s dsbt made up Of de-
hciencies which should not have been