The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1881-01-20


Our bonded debt. in the two years
To the first day OF January, 1881, has
been diminished $50, 247. and the an
nuat interest on il has been dimin-
ishcd in amount Ss5s.266.90, by eX-
changing five per cent. bonds for ten
per cents. and by the diminution Of
The bonded debt.
Out of the revenue there has been
paid sos. 0j9.31, TO discharge the
principal and interest Of that
of four per cent deficiency
issued under the act of
1879, and the sum of 500, 97S.71
more of said warrants have been
paid by exchanging for them $780,
600 in five per cent. bonds (Which is
now part of our diminished bonded
debit and by this payment of four
per cent. warrants evil not here
after pay S16.44l 80 interest on SILL
03S.02 deficiency warrants. Thus
there will have tObe provision made
hereafter for sS74, 60S.42. less interest
than was made and, necessary to be
made by the Sixteenth Legislature,
after having authorized the issuance
of the four Per cent. deficiency war
rants. In point of fact, however
these warrants were paid before =
great deal OF interest was due on
them, and the amounts of revenue
actually used in these transactions
are S250.000.. used and set apart for
sinking fund, and S206, 059.S1 paid in
money on the principal and interest
OF the four per cent. deficiency war;
rants, which amount to $46S, 069.3l,
aud that being added to the surplus
on hand January /, 1881, to-wit:
1858, 774.43 aminnts to $bl47, 1884
in the two years, or annually, $685.
1851. -Epo 81 --utH- = -l!ses Hft
Atmy inauguration. the twenty
first january, 1879 there was no
revenue in the Treasury subject to
payment of ordinary expenses. The
sum of SS0419.2S then in the Treasu-
ryias revenue was,held to meet ma
tuFed INTEREST," due,first of January,
1879, aRdIwas so applied. - sTD
-asho State Trensurers the Hon. +,
laIubboek, sfInutl0iafteT be- ASSUME,
eaAeenlr0ls ct fheF dGreasHrg,s which
was aon the 1Wenty-firsts of january,
] $40 chaal9rSb iiEerufe that had pre-
vfeuslsA appeyailed ail that depart,
nleatsof pap ing oEitoae-fourth of the
revenue, las itGalmein, tot hefiEst one
who called with warrants, to,sthe;
plan of registering the waErants, as
they were presented at the. Treasu-
ry, and paying them according TO
the date land order, of registration
When there were funds in the
that could be used for that
purpose. ltwas not only an equi-
table rule, but had beneficial effect
us exhibited in the fact,
that the discount on warrants
diminished until the first
day of May. 1879. after which time
they have been paid promptly at the
Treasury when presented, and the
warrants have been at par with
The question naturally arises, how
were these results produced? ...
They were produced in part by
the increasing prosperity of the
country in its monetary condition,
in part by laws previously passed
which were gradually improving the
finances of the state, and in part by
the laws passed by the Sixteenth
Legislature, To increase the revenue
and To retrench expenses, and to di-
minish the debt and interest, aided
by the executive officers in giving
and in the execution Of
laws passed by them. The laws
passed by that legislature if exam
ined will evince an extended inves-
ti9ation into all the departments
and operations of the State govern
ment with view to Improvement,
both in efficiency and economy.
On the subject of
AND THE ooILESTISN SF
....--' -..F TAXES. .---.-...
they passed no less than twenty sep
arate enactments whose objects were
to find additional objects of taxation
and TO increase taxes where il could
be done without injustice to any
class of interests or persons, to in
prove the mode of collection and to
secure the transmission of the money
collected TO the State Treasury. (See
General Laws, PIP. 10, "a, SO, A, 46
sc, II, 70, 118, 1872, 141, 143, 100, 161
164; Special Session, PIP. 5, 9, II, 29
Sc, 80, 469 There has not been a for
FIXTURE of a tax collectors bond un-'
der the operation of these laws, and
the money collected has been in the
main promptly pal over, and not
kept back for, speculation or other
purposes while warrants were SELL
ing at q discount in sight of the
treasury. as had some times been tho
case.
1t will perhaps be more satisfae-
tory 6nide for future legislation 10
show, as nearly rs practicable, the
operations of the government in re-
gard to the revenue on hand at the
end of the two fiscal years on the
3lst of August, 1879, and 1880, and
the actual expenses of the govern
ment during both of said years up
to that date in each. l--
During five months ofthe first one
OF said years. to-wit: from the first
of September. 1873. TO the last day
of February. 1879, the general APP
preparations, Hnder which expendi-
lures were made and expenses incur
red. were in accordance with the
acts Ofappropriation of the Fifteenth
Legislature, though some of said
appropriations were made by the
Legislature, by way of
extending those previously made,
mp TO tire first daY of March, 1879,
when the general act Of appro-
priation OF 1879, passed by the
Sixteenth Legislature, went iRts
effect, under which, with sub
seguent acts passed by said
Legislature, expenses have
been incurred since that time.
= 10 must be recOllected that some
OF tire provisions of the laws of lho
Sixteenth Legislators, designed to
increase the revenue, and to dimin-
ish the expenses, did not have aIsy
effect in producing these objects
until some time after they Were
passed. and il was not until the sec
oud wear of those two above men
toned, thlit they were in full opera
tion. so s..r.
rasIt is proposed now TO show he
81. .rerGRae, and the
actual erPeaSes incurred during tke
gear 1873 and 1879, and the dmouht
Of rereRWe Oaa hand at the end, Of
each gedr,' dUgust 81, 1879: ctr
OF revenue IRON Sep
temher I, 1873 TO August 81, 1872 81 ,5SS, 1876 20
To this add amount Of revenue APP =
SCHOOLS ...,.'. w. ....r.."'..,.. 4sS,s5s Sc
{ Total expenditure. ..s..s,t 2.e.9, ISs 81
From Hits sInonnt 6e- h.
duct the deficiency sc q.
count than accrued be 81