The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-01-24

chools.
Now let us see how stands this
fund. Mr.. Brown, the comp
roller, tnrnishes il, as follows
Lon January /, 1885, the permanent |
fund in the state treasury was as
ollows:
! Cash for investment ,..-.. ........S S,l93 70 |
\ Five per cent. bonds .., ..,...... 69,Oel 63 |
7. Blk per cent. bonds .....,.......... l75500 10
l. Shven per cont. bonds ............. lli0O 90 |
h five per cent bonds issued In 1856 1sll7l 26 |
.Cpmptrollers certificate of debt 49,, 10000 Al
T0lal permanent fund ...........,, S50655S 90
II. The annual interest on the above
pnds items 2. 3 and y is US follows:
bOnifye per cent bonds. l1i 8
Qusix per cent bonds. ............. lO5O0 W
t0uEeyen per cent. bonds..,....,.. L9SO 10
Totcl interest annually .......,...,s 2i,9H 5S
The above amount (52l, 03i5S) is the en-
reincome from the permanent fund I'M
CIR existing laws.
Ill. The total amount OF interest due n
ie913i APPS five per cent, state bonds Of
Bo,hom date of issuance to maturity Of
lid bonds in 1879, is $50 8S3 80.
The interest, when appropriation is
I,do, therefor by the legislature, will be
postioned as follows:
VpeEm Kent university fund, Gll IN
svss; uIo ", ~ "''P''oH Va wa eeo 40 70
svs,lahIa E,nd }nt,r.st scc,ninc sV-''' 90
ufieP consttution Of is1S' '...,,,....a Is 2Oe II
49, -
tfotN ................ ESQ $50 Is
IN the above $500 5000, is included the
upde (Sl34, 472 26) which have heretofore
In put down as "of doubtful validity"
~ Is TO say, they were bonds issued by
r. rate to the university in 1860 to repay
- 1IO0 600 borrowed in 1860 by the former
20 the latter ITO be repaid when needed,
q With interest," HOW, IN the name
decency and Justice, the Davis
ine term doubtful validity" as
pliod to this sacred transaction, has
Pn Permitted to remain on the books !
AVE- loss TO CONCEIVE. Inc seventeenth
[ te!4ture last April passed an act organz'
the contemplated university, and pro-
4pg for the erection OF main building at
Qo9( Of $l6O,VO, and for q fair allowance
ePpvopriations, etc. The board OF re-
{eee On hand, adopted plan OF a build.
o -, when completed, Sl50,OO, and
zones oe1sn the erection OF the west wing
~ ooet 81 $59 GOO, to be completed In June
~. NON, this university, when com
r3teqs WIN require, Tor "lirst'class insti'
tions - Intended, about forty professors
an average annual salary of$z, oOO. these
!eriee, Along with contingent expenses
hilt loot mp say $l25,OoO annually
sut sne entire university permanent tnnd,
onn1te, - seen above; OF only $on,0o O
lonoss ana nearly hsii OF these are yielu
ng no interest. We see, therefore, a re-
Iutl9q annual ostlAy oil $i2o,Ooo, and only
n 300 20 meet In this emergency The
enjAoturo mus ONE to the 'front.' WITT
doQuate relief hey can do TINS with
Iut 0o1yimentto a.. >ther cause whatever
<etus ~. The W 'rsity's present rr
Ouroee, then, are as. 'ows: One milnoi
hIrtyJtNo hundred Thousand acres OF land
chio, With the bo, vs. detailed above
onglttoto tho "per,asncnt fund, ana only
be interest accruing from them can be use'
hr uoIvorsity purposes. Now. IRON
Ioy1ds d ~ kinds q revenue can be ha'
nv (3S,OOO: IT. then, the l,uSz,v
ldroo On bs sold at, say Sl.25 per acre, AM
10 ptocoods invested In o per cent. bonds
n additional annual revenue OF 5000
Gan h oeoured. The legislature can agar
h1qiet ID ibis measure by authorizing thi
loIo. o. 4 base of the lands that will yiel
- 66uIVn1ent of income. If, In addition /
M tk|1. IL Legislature will givean endow
1911 III. ~ al ,OOO.O goo or lis equivalent
~ ~ ~ 6ubiic domain or its sale, which
ln0u11s6 a & ner cent. annual interest
~ I'M 81 enough To meet the require
4 S3rorSitnra viii hi, session ri,
~<[ a II ocession. md do A Justice to a
I7S21cS who . property hss been 80 ma
1I1 ,In the past hy the state