The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-06-29

cashed out of tho school fund, which had ac-
cumulated from its several sources, and the
revenue used in the payment OF these drafts
placed to the proper account for the expenses
of the government
In September, 1878, the board of educa-
ton ascertained from the comptroller's estl-
mate that during the year ending August 81,
1879, there would be collected an amount
sufficient, with the school fund on hand, to
give the several counties for school pur-
poses the sum of 100000. Drafts were
ut once drawn upon the several col
lectors aggregating S3OO,O0O TO DO
paid out OF the first money collected, thus
stopping the payment into the treasury OF
the taxes collected until these drafts were
paid ard returned. The remaining SbOOO0O
not having been appropriated, could not DO
appropriated to the counties until the meet
ing of tho legislature TO make the necessary
appropriation. The counties were anxious
to receive their portion Of the remaining
100000 aud expected the board OF educa.
ton to forward drafts on the collectors early
in January, 1879 and to meet these drafts
taxes collected were retained in the counties.
The Sixteenth legislature, early i'll its session,
made the appropriation, and in the latter
part of February, 1879, the board Of educa-
ton apportioned to tre several counties the
amount due them respectively, forwarding
drafts on the collectors. These drafts were
paid and returned to the comptroller, and the
revenue used in their payment returned out
of the school fund to its proper account, the
trea urer receiving in March, April and May,
1879, revenue sufficient to pay every out
standing warrant upon the treasury and leave
net cash balance on hand in June, 1879, Of
over S450O00.
Referring to the report of the comptroller
March l, 1880, it will be seen that during
the months of March, April and May 1879,
there was paid into the state treasury over
81 ,000,000 of revenue, an amount largely in
excess of payment ever before made during
the same time.
The question may be asked why were the
receipts so heavy during these months what
peculiar conditions were operating to re-
penish the treasury so suddenly. l. answei as
| indicated above-the several counties we're
exl Getting the board of education, early in
January 1879 to forward drafts on the
several collectors for their portion of the
school fund, and taxes which had beencol-
lected were retained in the counties to meet
these drafts and thus save the collector the
expense Of purchasing exchange to remit the
| funds to the treasury. The apportiontent
was not made by the board of edueNion
until, as before stated, the last Of February,
and when forwarded to the counties we're
paid at once, thus bringing into the treasury
within the space of three months an amount
equal to more than half of the revenue d the
year preceding establishing the government
at once upon cash basis in the sprlE OF
1879, enabling the treasurer to cash al UNI
paid warrants, and have a surplus OF reHnue
In Jure, 1879, as has been before statd OF
over Sl50000 All this before any aft OF
the Sixteenth legislature touching the ues'
ton of finance, went into effect, thus prking
beyond any doubt that our sound tinfcial
condition was n fact on January lst,lo79,
independent of any aid whatever from any
source of revenue other than those proIded
by the Fifteenth and prior legislatures.
Gov. Coke, in his published letter of Mem
Der 10th, 1876, to Mr.. A Q. Gray, of lous.
ton, on the subject of finance, in speaking of
deprecated treasury warrants, state that
"the legislation is already on the Stute
book which will remedy it," The fulhlhent
of this prophecy has been complete. The
revenue Of the year 1873 gathered undf the
new system, vitalized by the statutes otS16
relieved the treasury in the spring oh07G
of every embarrassment, furnishing feans
} not only to pay all warrants upon the reas
ury, but provided sinking fund for tb re-
demption of her bond The new surces
of revenue provided by the Six
teenth legislature has only had the
effect to strengthen, to the ex.
tent Of the increase in the revenue, viii had
already been done, but the causes whe led
to sound financial health were put II mo-
ton by the Fifteenth legislature, actin un.
der the provisions of the constitution oa876
All the facts justify this conclusion. The
cash balance of over $750,000, now the
treasury, after having met all expenseSf the
government, paid all DEFICIENCIES and2OO,'
600 sinking fund, is an argment
that cannot be gainsaid. The wild
est spectators in finance will no pre-
tend to assert that the revenues hav been
, increased $3.50, 900 by any act of the Sinenth
legislature. The expenditures under 10 APP
preparation of that legislature were feater
, than for the previous year, showing moving
by economy hence the credit for cas pay
ments must be Welded to the results opror
legislation or it must be shown bywhat
enactments OF the Sixteenth gsla.
ture the revenues were iniensed
S750,000 in addition to providin sew
eral hundred Thousand dollar to
!, meet deficiencies of previous years. Each
I Democratic administration has bent II ener'
S gies to the financial disenthralment @axes
e Comptroller Dsrden, in his report f 1870
: shows forcibly the necessity and urld the
, adoption of such policy as will secure imedi
r ate paymen. OF all warrants upon the tasury
with the same promptness with which. teres
: is paid on the public debt, and the epltive
I Gov. Coke, looking through the clos that
lowered upon us, saw the brightnesst the
A., future and proclaimed to the 'untry
; in November, 1876, that the statut were
$ lready enacted that would I'D to
d the contamination for which tn hac
e so earnestly struggled. Those stat
8 utes enforced during the administr'on O.
Gov. Hubbard have resulted in our cnplet'
c financial relief. ~"