The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-07-15


per cent. interest Is this good I'm ncisl
policyl Is it tho interest of the state that
money should lie idle in the treasury, all cur
rent expenses having been pyid ms appro-
prlated, and that bonds redeemabe in thirty
years should be issued to the amount Of $780,
600, that there might be asurplus in the ire $
ury with which to attract the people and 10
render the administration popular? Would
ii not have been far better that the bonds
should not have been issued, and that war
rants should have been paid with the money
that WAS then lying in the treasury? The
increase Of the bonded debt is unpardon-
able, aud should not be excused. Ga the
first day of June, 1880, there was lying in
the treasury cash revenue, all expenses
to date having been paid of S66l, 9iS02
This large sum of money draws no interest,
does the public no good, and must lie in the
treasury until the assembling Of the next
legislature, our 100000 bonds, issued by
the governor, in the meantime drawing 5
per cent per annum. This Is pay as you go
with vengeance, and, as piece of tlnan'
cierng, may be very good device by which
to gain popular applause, but it will not stand
the test of intelligent criticism. Why were the
bonds Issued The people should know it.
The governor was not satisfied with the
report of the comptroller of March, 1880
1t di not do him much credit as a tlnanGier
Flo thereupon obtained the services of gem
tleman in whose ability to nrrauge the sc-
counts satisfactorily he seems to have had
the most implicit confidence, and in n letter
of May "a, 1880, he submits the account to
the public. If you will examine this ac-
count carefully you will find that the ac-
countant makes the expenditures of the Hub
bard administration for 1889, Sl,93C,
1870, and in order to make up that amount
he charges under the head of public schools
the balance on hand from taxation, August
81, 1878; 1879 so, balance on hand from tax
alton August 81, 1879, S2i0,000. This last
sum did not entirely arise from taxation,
but in some degree from interest on bonds.
True it is that the expert charges similar
account to 1S79.S0 of $95, 50949, but the
statement is not fair one, and it should be
explained. 1t will not do TO say that the en-
ror in one will balance the error in the other,
for the amounts charged are not
equal Again, this expert neglects 10 charge
the account of 1879 so with the account I'll d
by the lessees of the pententiary, May 20,
1880, amounting to Sl9872, for work done
on the East Texas penitentiary This work
or the larger portion Of it was done prior to
March |, 1880, and candor should hsvc COM
PEELED the accountant to have included it in
Inc chorve of 1870 so Bnt il was imnor,ant
that tho pubIic should he made to b,lieyr
that the account Of 1878 0 was in excess
shrewd enough TO RECOGNIZE tho imn6r,on' q
md arr,nga h;s figures Sccordino,Iv Rnt NOT
w;thstandiGo tho Immense incre"ss If rcye ,yn
srisinr under the acts of tho Gftoantb Iac;s,o.
ture and beyond nil QUESTION 10 ,ri.e rom
tho sixteenth lac;slature and notvith stoniir~
the saIaries If the rIerks of the GansrtrDonfss
were reduced tn 81 scarcely livino ha.i. arJ
notwithstandirg tbo i fee, . ' of ,bn
denartmnnt Of ststa ware 60 incr,o'nJ
Nv ~ vioI1 q not royonTo ior H. N ,'o,.
ondin, Amnrot q 1870 az 20 a5e "a ,; Son
hon ,,mos os larro a os thst ~ tho 'mpao
coJ;nC yoar. and ro,5itnstanS;r,r tho o pi au
nors;,97,ir,c tha ;nd;ao,t ua,orans ~ EVA ro,'n
,,;on vas ronnaIa3 an1 40 Vr0 ,et"
rar fror,or nrptoc,;nr and tho "pp,ot'''V' ~
owlassnasa ond cr;,,o had haon 5Ir,in iI "
m nnt Lass ,hau h,,udroa tbonsa u' daIinn
sSr Tho two voars Y sSr ,hst no,m;,h 1891
Wv, ,r 'ia,' 'I i
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.nv % s SA ~ U w. $3.50 WV
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