Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1883-11-05

! 10 i"NoIaoiy disposed [,
ward the New Orleans Expositio,
which, US II Is held at n point nearer /
TeXas, more Identified with the stat,
and having closer business relation
and connections, naturally makes
stronger and more forcibie appeal o,
us. w VI
II will do all in my power TO co.one
rate with the EXPOSITION, and to van
DER II a success rs far as the displav n
Texas products is concerned. m,
nearness of Texas TO New Orlaan,
makes such display necessary Vis;t.
ors to the New Orleans Exposition viii
expect To see the Lone Star State yeil
represented there, and wonld he aston
lshed TO learn that it had nothing n
show, or rather did not care 10 lef ne
world Know lis wealth. With the
raiiroau connections now existing be.
tween New Orleans and Texas there
must pe large attendance Of Texans
there. There are hundreds going Ia
Louisville now, who are taking aovan.
tage OF the low rates there to see the
sights OF the Kentucky metropolis
THE FINANCIAL CONDITION OF TEXAS.
Governor, is not Texas in such n
financial condition, both the state and
tne people, as to warrant contribu-
ton toward an exposition like this?r
certainly. Texas was never en-
Joylng a greater agricultural or general
prosperity. Never has it made such
progress as in the past year. It's crops
nave been so large, its wealth has in.
creased To such an extent and added so
many millions TO its assessment rs to
necessitate the calling of an extra ses-
sion of the legislature to still further
reduce the tax rate, now at the low
inquire of mills on the dollar, because
that rate produces larger revenue
than the state has any need for.
The financial condition of the state
is highly satisfactory. There is, at ali
times, money in the treasury to meet
accruing obligations, and generally n
very large surplus on hand, which the
state uses IL buying up its own bonds;
and it is an evidence of its credit that
when one of these purchases was re-
Gently made--that offs 600, 900 of bonds
for the permanent school find--as high
ms 81. 40 was paid for them. The con-
stitution of Texas provides that this
fund shall be invested only in United
States and state bonds but Texas bonds
command SO heavy premium that
one of the amendments TO the consti-
tuition lately submitted TO the popular
vote, and which was carried, allows
greater latitude in its investment and
permits the purchase of county bonds
rs well.
THE STATE DEBT.
"The bonded debt of the state, which
is now 1876, G34; is divided into the
following classes of bonds: per cents.
81 ,246, 900; per cents, $2,0S4 ,3G7; 5 per
cents, 81, 2s5, l30; ! per cents, $3.50. In
terest ON these bonds is paid regularly,
and the bonds range in value from
81. 10 for per cents To Sl.40 for I per
cents. There is n large amount on
hand in the state treasury, which
would considerably reduce this indebt-
ASSESSMENTS.
"What is the assessments of the
state?n
LAS for the assessment and revenue
Of the state, both are increasing so
rapidly as to require the constant at
.entioH of the legislature to cut Them
down. The present constitution of the
state declares that no more taxes shall
)e collected than are needed for the
ordinary expenses of the government
and what these are is specified in the
constitution economically administer
ed. AS II consequence, when the as
'essment of the state and the revenues
Increase, ii becomes necessary TO cut
Town the rate of taxation, which is al
eady as low rs that OF any other South
I'm state.
The following shows the eXtraordi-
nary increase in the assessment of the
tate of late years, an increase wholly
in this country:
S7g.. l,l9}lG7 Issl............ s;J7 100000
SSO........ ll,I7O,78j lSs2.-..,.... 4i902j,i7G
tThe assessment now being taken
Promises to make an even better show
ny than last year, when the increase |
vas S63, coo 900. All the returns are |
lot yet received, but such rs have |
ONE in average > per cent higher |
han 1852. An increase of at lenst |
80 00O, 900 was calculated on II few |
months ago, and the estimates of the |
are based on this; but ii |
; probable that il will be even more, |
nd that it will ran up the assessment
( the state To 5iO,OOO,O0O or higher.
IN increase of from Sl00,000,00O to
,l20, 600, 900 in wealth in one year.
an increase of $500, 900 or |
$50, 900 in revenue, unless the legis.
lture should cut down the tax rate, is
ertainly n fine showing. This in
rease represents great deal OF new
,ealth that has been brought into the
tate during the past year, as well rs
II Improvement in the value of lands,
tc. There is no board of equaliza-
on for the state, nor is such a board
kelly for many years TO come. Texas
so great, with such variety in its
,nds and its taxable property, that II
'ould be impossible for any body of
zen TO compare values and eq2alize
lem. In each county, however, the
ounty Commissioner Court acts us
county board of equalization.
TAN RATE.
GAS the property of the state has in
reased the tax rate has been reduced
Thus the rate was
mills in 1873, mills in 1881, and
lree mills this year. II is now pro-
osed to reduce it still further, and
his will probably be done. A num-
err of papers are asking reduction OF