The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-01-12

without rmsallon A toreseeHaeei's sus'
esstlsns NJ 10 sisW this maS ne hneeted

gfatlSha M 10 iiow this Hef ne hneetfd
corfeapondehee N he iicmld
ONE N lilo most ip1ensa"a f"'9,s,- ~
tIie consideration of The people ~ Texas y
the maintenance NJ M eiIicicnt system Of
education with the least burden upon 'hen
for HAT purpose Under Tie piotlsionsol
the present consD uiion Of thc state, no
efficient system can be carried on with the
revenues now set apart lor that purpose,
Notwithstanding one-fourih Of the state
taxes are devoted 90 that purpose
The provision Of the constitution
recurring the permanent fund 10 be
invested IN the bonds OF TIC SIaie
or United States must be changed ana uil-
ierent investment resortod TO before tne
peoplc can have an cllicent system OF pub
| liz schools without heavy taxation for that
purpose. 1t is within the power OF the
people 10 remedy this evil. With the per-
| inaiicnt funds now invested in state bonds,
which are worth I 40 and the constantly IN
| creasing amount from the sale OF the
| Public School loans, 1t will not be long pc
| fore n magnificent sum will be realized,
which will have to be invested in three per
cent. bonds of the United States, unless a
change is made in the Constitution. These
bonds bear too low a rate of interest TO pro-
duce the revenue required to support sucn
n system as we desire. But with u change
of the Constitution, and the investment OF
the permanent funds OF the pubic Tree
school, asylum, university ana county
ischool funds, in State bank with branch
Mt every important city and town in the
State, with the usual powers OF discount, IS
sue and exchange, q sufficient amount OF
revenue could be raised to carry on an EN-
cient system of public free schools, the UNI
vcrsity, and support the asylums without
any taxation. 1t is iair TO pre-
sumo that within me mex. s vi,
years there will accrue from the sale
of the public school lands ana the
nniverity and asylum lands fifty million
dollars. which, if invested i'll United States
7 three per cent, would only produce 81 ,5U0,'
, LOCO, but if invested as the capital stock OF
, State bank, MS suggested, would proauco
more than four times as much, or ttle sun
= ofsiS million dollars annually, as the avail
3 able funds for tile support OF the ftoiiS
| Free Schools the State University ano
Asylums. The net proceeds oil the earnings
of the bank 20 be divided, pro rata, TO- the
: available funds of each institution rms
5 would be found ample L, carry ON a system
of public free schools without taxation, ano
at the same time afford our, people
: and develop the resources o.
lie State. No other Investment
Of the permanent funds of the pubic
schools, university and asylums, could pro
tfuce so large revenue or bencht the
people to the same extent as the one pro
posed The bank could accommodate thS
merchant, manufacturer. mechanic, lariner
, stock raiser, and thus aid and encourage
E every branch of industry and at the SAINT
: timefurnish ample revenues to educate every
: child IN the State and provide for the un
fortunate without one cent coming from th'
people by taxationfor that purpose. Wher(
9 people are advised of the suggested change
!, ofthe Constitution and the benefits thai
will accrue by the adoption of the plan here
: suggested, they will doubtless see that tho
2 plan is adopted. BY this means the farmer
merchant manufacturer, stock raiser alio
!. mechanic can obtain the use OF money
: without having 10 pay cxorbitant Interest
5 and the premium paid by them Will be ap'
Piled to educating their children. By the
:, adoption oil the plan suggested, immigrants
would soon fill up our vacant lands and the
production of the State increased TO an eX.
!, tent almost beyond our most
sanguinc conceptions, and the
; value of the property in the
: State increased beyond all expectation,
, cur people become prosperous ana flcti'
and the resources of the State increased TO
All extent beyond our expectations. ;,