The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-09-24
THAT CASH BALANCE.

nov We may reasonably infer that the cssh
balance ia in the neishborhood Of 5000 OOO'
Bv the time the legislature shall meet IN
regular session in January, 1888, unless some
of Il DO expended b. act Of the extra ses"ion
TO DO called when congress passes the appor-
tionmeut bill, we may reason that 1t Will be
considerably over $4,000 OOO' This IS a
large sum of money, and . more glance at
the figures Is enough - to-, make one
1t might DO sup-
posed that a knowledge abroad that
Texas had in her treasury vaults some
So 100000, would be beneficial to the state
in the matter OF immigration, but we take
IL that the preferred question asked BY The
immigrant would be: "Does Texas owe any
bonded debit" and when informed that she
does, he would then want to khow why IN
the name of common sense and common
business shrewdness, this money WAS not
used TO buy up tho states outstanding
bonds. This is question tnat has presented
itself to the mind Of every thoughtful
citizen of the state, and numerous papers
throughout the state have raised greater or
les hue and cry on the subject. The most
of those papers have censurod the governor
and treasurer for allowing this money
to accumulate and be locked up
TO rust and do nobody any good
The governor nor tho treasurer, without
legislative authority, can take dollar out OF
the treasury for any purpose whatsoever, so
II is unjust to hold those officers in any mans
nsr to blame fol, tho boarding of the states
money. The legislature is TO blame, not for
act of commission 10 the matter, but for its
omission, for its lack of foresight and fore
thought in not providing BY suitable en-
sctment Tor the use of this money In the
purchase Of state bonds and the stoppsge OF
interest thereby. The legislature, by careful
estimates made by the heads of the different
departments OF state government, makes an
appropriation to be taken from the general
funds of the state for all current and reason
able contingent expenses Of the government
for two years, and for the support of public
FREQ schools for the same time, and rs these
expenses fall due the treasurer on warrant
from tho comptroller psys,but the residue no
dare not touch, aud even if the govN
ernor should assume to use any
portion of the states money for
any purpose, no matter what the emergency,
not covered by an appropriation made by
the legislature, tho treasurer would not dare
to pay out the money. The Legislature
could easily enough, reasonably enough,
justilsbly enough overcome this difficulty by
passing simple act authorizing and insIruct-
ing the governor and the treasurer to uso
any moneys in the state treasury not other
wise appropriated for the purchase of the
outstanding bonds of the state. The gov
ernor and treasurer knowing tho total amount
of appropriations made by the legislature
for other purposes, could set that sum aside,
ana then going on the market, buy up Texas
bonds 40 last rs money should accumulate.
II is true that Texas bonds arc at premium,
and it is to the glory OF the state that such
is the case, but 1t is better to pay this pre-
MUM than for money 70 DO idle in the
state treasury, that tho interest they draw
may be stopped. The bonded debt of the
state IL, in round numbers, say S6O0O,OO0,
and these are near the figures. All
these bonds nre not at the same
rate of interest, but the average
for the whole amount is six per cent, and
that is about tho figure. These figures make
an annual interest of $S00,OO0, which the
state is to paw. Is it not better to pay up
q 100000 of these bonds with the idle cap
ital the state has, thus saving $4,000 of ina
terest than for the money TO DO boarded
away! If this money was being used for
any purpose, being turned over from time 10
time, and made to multiply, rs the man usef
his money, whereby it brought in more
money annually than the interest it saves
why then il would DO business scumen to lel
the [, nds run their course, to DO taken up
only when they fell due. But this is not the
case. It's worth no moro to the state locked
up rs 1t is than 1000. 900 acres of land lying
vacant in the staked plains. We see how
sensible, informed, active business men fol
lowing legitimate occupations transact theil
business, making every dollar they get usefu
to them in some way, aud why should moi
tho affairs Of the state DO con
Quoted upon the same sensible plan
II Smith held tho promissory notes o.
Brown for $40, 900, there being taree notes
and Brown had surplus money sufficient Il
takoup one ofthoso notes, money which HI
could not otherwise use, no would not hesi
tate to buy the note even at a considerable
premium, 10 stop interest. Why oanno,
the state Of Texas have as much busines
sense as Brown This money lying idl
In the state treasury Is subject to numerou
contingencies. No doub. Is believed that th
vaults in whiehit 10 kep. are hro.proof, bu
In case Of aro this might prove to BIO not th
case, and thon the slate would suffer g.oa
loss. The treasury building Is guarded, bu
: bold band Of outlaws such rs we hav
here and there In Texas, and In other statel
might overpowor tho guards and rob h