The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-04-20

As Won bago iten aWndy amrHhi Nv
lhntinl iHlfffHn, tIH nate h.il fentnllnp
llin lHw hn'hONklnf U.s. thN W llie.e fnief
tliIJu lhhla hif boln pumfl, although
luFfr WN4 roo uFY dufalim fHatI na 0fhe
epa Status ol those WHO had iiltl on the
Irnd iu g11l filli mud pnid 0frlao ieos, md
ds1 ns iD what W0grOls constituted vested
rights Under p1rtihlv completed 9ilos 40 n1
IA hermit % cOutipuunre w cOmplHtiOn
The bin refer " was ono settling inside
nhd apprOpr.aling 2OlOpJO ncrU5 NJ lpnd
Tor Tie benefit Of the university oi fe4us,
For this Il substitute was offered and pow
crlully Sustained by Senator Duncan, Of
Gregg county, 10 the effect OF
appropriating only 100000 acres
for the university, and the public free
schools. That Is 20 say, or which means
| that lands III equal portions out of the
reserves made by the act Of 1870 shall be
set aside for each, and then that what may
| be left of such reserves shall be thrown
open for location Of any valid land ccrtih-
! Gates. The object of the senator herein
was to positively provide for the common
schools while provision was simultaneously
being made for the university, and to have
enough left to adjust
THESE CERTIFICATES OF INDEBTEDNESS.
! II was urged to donate the 100000 acres
to the university before the drafts of Texas
were honored would be fraud upon credi-
tors, and that the certificate being
charge against the public domain
should take preference, and be first
redeemed as matter of honor.
Senator Duncan seemed to think that after
the location of all outstanding valid land
certificates there would still be left in the
reservation about 1 ,000,0 acres which
could be given to the university and the
schools in equal proportion.
Now on the other hand the state is in
a bad fix with the university acoeunt. This
was shown on the preceding day in the data
that were disclosed when the "bill to adjust
the states Indebtedness to the university
fund" was under discussion. 1t seems
that the general revenue has been owing
this fund, for many years, some SlS4, AZ 20,
as evidenced by Texas per cent. bonds
issued on the LIST of January. 1867, and also
in the further sum of $40, 300.41 as evil
denced by certificate of Sth of June, 1865.
The interest down to the LIST Of July
next will be Sl04. 2l5,9S. Here,
certainly, is a heavy Indebtedness, and
which ii paid off would most materially re-
duce the assets of the state as heretofore
viewed. Whether the interest shall be dis
charged or the whole sum extinguished, is
the question. On the one hand 1t was con-
TENDED that the principal be merely ac-
| knowledged as a valid claim instead of a
doubtful one, as heretofore put down. but
that the interest be paid. Per contra, it
was urged that the debt was long past due,
and should be settled at once from the cash
balance now in the treasury and being frit-
tered away in the purchasing of 500 bonds
at $40 each. Thus the university has
been between two fires, seeking to
get its just dues from the state
in monies due it, and pushing its claim
for land under the reservation act OF July,
1879. The payment of the monied claim
would have
| REDUCED THE GENERAL REVENUE
fund some S250,O00.
By all this you will perceive the entsng-
ling difficulties and complex conditions into
which Texas has been thrown throu 2h
legislation in the past by men who did not
com prehend the situations when they cas-
their votes on momentous questions, a:
though the issues involved were q ths
merest Of trihing matters J. 7. +.