The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1883-06-28
THE PROPOSED AMENDMENTS.

Several proposed amendments to
the constitution are to be submitted
to the people of Texas at a special
election to be held on Tuesday the
14th day of August next. The
STATESMAN has already presented
these amendments in full to its read
ers, but it is proper that they should
from time TO time receive further
attention that the public may be the
more thoroughly informed as to the
intent of the measures proposed.
One joint resolution presents two
amendments, applying to the invest
ment of the public school fund. AT
this time this fund, which is accumu-
lating in the treasury, and which will
soon amount to many millions of dol
lars, may be invested alone in United
States or Texas state bonds, both
of which are held at enormous
figures. 1t would at this time re-
quire about $500 of this fund to
buy either a United States or Texas
thousand-dollar bond, and the inter-
est accruing on either investment
would be small. The amendment, if
adopted, would allow the state to
loan counties this money, or would
permit investment in other securities,
with such restrictions as may be pre-
scribed by law, the state becoming
guarantor for payment, The same
resolution presents a similar amend
ment. applicable to similar invest
ments. to be made by counties, of the
monies derived from the sale of county
school lands. 1t is absolutely neces-
sary that some other kinds Of invest
ment than these must be permitted, or
the money must lie idle in the treas
ury, or be invested at ruinOus loss to
the school fund. The second res
olution prescribed in the election
proclamation applies to the rate of
taxation, The constitution, us it is,
admits of state tax of not exceeding
fifty cents on the hundred dollars, and
not exceeding one half this tax for
counties. The proposed amendment
provides for state tax, exclusive of
the tax to pay the public debt, and
tax to maintain the schools, of not
exceeding thirty-fve cents on the
hundred dollars valuation; and for
county, city and town taxes, neither
to exceed twenty-five cents on the
hundred dollars for county or munich
pal purposes, and q road and bridge
tax of not more than fifteen conts on
the hundred dollars valuation, except
for the payment of debts incurred
prior 70 the adoption of this proposed
amendment, and for the erection of
public buildings, streets, sewers and
other permanent improvements.
not to exceed twenty-five
cents on the hundred dollars. It will
be borne in mind that in many of the
counties efforts have been made to in.
crease the revenue of counties. In
some cases this may be necessary, but
in many, if the amendment be adopt
ed, rings will organize to impose the
greatest burden of taxation admissi-
BILE upon the people. The third reso-
luton proposes for the consideration
of the people. a measure looking to |
the collection of a special school tax. |
1t is proposed that this shall be one
fourth of all occupation taxes, a poll
tax of one dollar on every male in
habitant in the state between the ages
IF twenty-one and sixty years, and a
AK not exceeding twenty cents on the
hundred dollars valuation, all to be
idded to the available fund de-
iyallle from school funds.
o maintain free schools for not less
han six months. If this amendment
,e adopted it would seem there will
,e little doubt that enough money
viii be collected to run the schools, in
ONE counties, judging from what is
low done, twelve months in the year.
he amendment, if adopted, will re-
uire school districts to be organized
a each county, the inhabitants of
ach district being granted the power
D impose a special district tax, oyer
nd above all other taxes, of not ex- Il
iediDg twenty cents on the one hun ,