The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1882-01-19

bearing eight per cent. interest, but
it creates, by the same act, taxable
property, which, as it is improved,
becomes more valuable, and hence in
the ratio of its enhanced value adds
revenue to the state. The purchaser
not only pays tax upon his land,
but his fences, and his houses, and
his cattle, horses, sheep and hogs.
his products and his business be-
come subjects of taxation and add
wealth to the states Golfers. The
state derives more than one solid
advantage from parting with the
land, and hence the government can
and should be most liberal towards
those who make the lands more val
liable and productive. The state in
entering the money market could
now get all the money that credit
would allow at four per cent. She
now pays five per cent, and the Sc
curity she holds upon these lands,
when negotiated on interest
bearing notes. is of a
class not TO be surpassed.
The lands increase IN value while
the lien of the state holds good, and
the credit is based upon even a more
solid foundation than the states, for
the state may reclaim these lands
when the payments thereon fail,
while the holder of state bond
trusts alone 10 the honor of the peo-
pie. Therefore the state should ask
no more from the land purchasers
in interest, than the holder of state
obligation asks of the state. The
state pays five per cent, and the land
purch aser should pay the same, the
security being of the very highest
character. Were there not other
strong reasons, besides the equity OF
claims, demanding such concession
on the part of the state, the amend
ment of the present law might not be
asked; but in the light of an
immigration scheme, costing the
state nothing. but adding millions
On millions to its wealth, it would
be unequaled. Eight per cent. is a
very high rate of interest in many
of the old states, and in England
and the continental states Of Europe
it is enormous, sufficiently so to be
no inducement to immigration. Five
per cent. interest on the value of the
school lands is just, and 1t would be
so regarded abroad, while the fact
that a working farmer or stock
raiser could move his means to
Texas and secure choice tract OF
land, upon which he would be re-
quired to pay only five per cent. i'll
terest upon purchase money, would
induce vast influx of population OF
a class to add to the rapid advance
of the states material prosperity.
The school lands could be thus en-
HANGED ten fold, at once, and
the time would rapidly APP
prOach, when the permanent
school fund of the state would give
ample substance to the schools
without dollar expended on them,
derived from taxation. If the per-
manent policy of the state be to
part with the title to its school lands,
no wiser thing could be done than
to amend the law regarding their
sale, allowing liberal time for pay
ment, and demanding only five per
cent. interest on the purchase. To
complete the sale of these lands by
limiting the purchase by any one in
dividual to a given number of sec
lions is absurd. California has its
Glenn, planting annually one hun
dred thousand acres in wheat, while
Minnesota has its Dalrymple, with a
farm eighty miles in length.
The large farmer and stock raiser
should have as generous terms
offered them in Texas as the small
farmer and stock raiser, for both are
equally valuable according to their
means to the state. The STATESMAN
is by no means wholly welded to
the policy of the state parting with
the title to these lands. 1t might
be well to REVISE the law, and to
grant both sales and leases. Many
might desire to lease instead of to
buy, and the state might fix rental
upon these lands, under thirty year
leases, which would be as advanta-
geous as the income on value
at five per cent. The state
would then remain the possessor
of much land that might be sold or
released in the future at greatly en-
HANGED prices. We regard these
questions as most important, and
they cannot receive attention too
early. The railway companies are
prevented from making land sales
by the present restricted policy as
TO sales on the part of the state, and
what may be done would be just as
proper work for the extra session as
for regular session of the legisla-
ture. Were there no restrictions as
to sales, the railroad companies
would indirectly become the selling
agents of the state, free of charge,
for when one of these companies
negotiated Eve or ten sec
tions of land to a purcha-
ser the same purchaser would ask
the state for titles to the alternate
sections, that lands may be con-
trolled in solid instead of unpleas-
antly detached bodies.
You may just as well be recon-