The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-01-10
PUBLIC FREE SCHOOLS
without Taxation--A Correspondents sug'
gcstions as TO How this May be Effected

gestions AS TO How this May be Enectcu
Correspondence Of the Herald.
One of the most inipV,,o". S"'pe..- .or
the consideration of the people OF Texas is
the maintenance of an efficient system OF
education with the least burden upon them
for that purpose. Under the provisions Of
tho present constitution Of the state, no
efficient system can be carried on with the
revenues now set apart for that purpose,
Notwithstanding onc-fourth of the State
taxes are devoted to that purpose.
The provision OF the constitution
requiring the permanent fund to be
invested in the bonds of the State
or United States must be changed and diff
iorcnt investment roSOrted to before the
people can have an efficient system OF pub
lie schools without heavy taxation for that
purpose. II is within the power OF The
people Go remedy this evil With the per.
mam-ut funds now invested IN State bonds,
which are worth 40, and the constantly in
crcasing amount from the sale OF the
Public School loans, it will not be long be-
fore n magnificent sum will be realized,
which will have to be invested in three per
cent, bonds of the United States, unless a
CnHIlGt ID Iluut III tnc NollslibutIuIl' lHccC
bonds bear too low a rate of interest to pro-
duce the revenue required to support such
system as we desire. But with a change
Of the Constitution and the investment Of
the permanent funds of the public free
school, asylum, university and county
school funds, in u, State bank, with branch
at every important city and town in the
State, with the usual powers Of discount, is
sue and exchange, n sufficient amount Of
revenue could be raised to carry on an eff
cont system Of public free SCHOOLS, the uni
vcrsity, and support the asy lums without
any taxation. 1t Is fair TO pre-.
sumo that within the next ten
years there will accrue from the sale
Of the public school lands and the
unworthy and asylum lands fifty million
dollars. which, if invested in United States
three per cent. would only produce 81 800
0OO but II invested as the capital stock of a
State bank as suggested, would produce
more than four times AZ much, OF the SUM
ofsiX million dollars annually, ag the avail.
able funds for the support Of the Public
Free Schools the State University and
AsylumS. The net proceeds OF the earnings
of the bank to he divided, pro rata, to the
available funds Of each institution. This
would be found ample to carry on system
ofpublic free schools without taxation, and
at the same time Afford car people
an amount required to build up
and develop the resources of
the State. No other investment
of tho permanent funds Of the public
schools, university and asylums, could pro-
duce so large n revenue or benefit the
people 10 the same extent rs the ono pro
posed. The bank could accommodate the
merchant, manufacturer, mechanic, farmer,
st0ckraiscr, and thus aid and encourage
every branch of industry and at the same
timofurnishampl revenues to educate every
child IN the State and provide for the mn
fortunate without ono cent coming from the
people by taxation for that purpose. Where
people are advised of the suggested change
of the Constitution and the benefits that
will accrue by the adoption OF the plan here
suggested, they will doubtless see that the
plan is adopted BY this means the farmer,
merchant, manufacturer, stock.rNiser and
mechanic can obtain the use of money
without having to pay cxOrbitant interest,
and :he premium paid by them will be APP
piled TO educating their children. by the
adoption OF the plan suggested, Immigrants
would soon iill up our vacant lands and the
production 0fihc state increased to IN cX-
tent almost beyond our most
sanguiuc conceptions, and the
value Ot the property in the
State increased beyond all expectation, |
our people become prosperous and rich,
and the resources of the State increased 10
an extent beyond our expectations.