The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-02-01
no 1l

49,
the peer of any in the land. =,
But the impression prevailing that aid to
=. the university by so much subtracts IRON
the common schools, or that ii
will increase Tho taxation ,xo ara mu n
no wise connected The university fund
and the common school fund are as sepa.
rate and DISTINCT as are the common school
fund and the fund OF any OF the aSylums,
for instance. If the university iund be not
used for a university exclusively, not one
dollar of 1t can be transferred or touched
for the common schools or for any other
purpose. 1t must lie idle, useless. AND
again not one dollar can be appropriated
from the general revenue for the university.
Hence there can be no abrldgment What-
soeyer of the public free school system; no
possible additional taxation for the uni
versity, however much there may pc isr TIE
schools.
Now, let us see how stands this
university fund. Mr.. Brown, the comp
troller, furnishes il, as follows:
l. On January l, 1888, the permanent
university fund in the state treasury was as
follows
l, Cash for investment. ,lg5 ~
2. Five per cent bonds..... .'... 9y'9 sd % %
8. Six per cent bonds, 7960 U ~
FIVE pd gs cent bonds Issued in 1866 3i72 &c
g. Comptrollers certificate Of debt. 10000 Al
Total permanent fund ............. .S5OG,55S 90
II. The annual interest on the above
bonds Items 2, 3 and y is as follows:
/. On We per cent bonds. .............S y 494 D.
2. On six per cent bonds. ;.,....'''''' 4VoVU ~
3, On seven per cent. bonds, .......... l,ooO W
Totsl interest annually ...,.:......; g 1874 5S
The above amount ts2l, 034.5S) is the en-
tire income from the permanent luhu uu-
der existing laws.
III. The total amount OF interest due on
the $134, 472.26 five per cent. state bonds OF
1866, from date of issuance to maturity OF
said bonds in 1879, is $S0,6S3.35.
The interest, when appropriation is
made therefor by the legislature, will be
apportioned as follows:
To perm anent university fund, all in
terest due before adoption OF the
constitution OF Is 20. ......''......: So-'4'' 90
To available fund, interest Accruing .. -
after constitution of 1876. ...'....... is. wv T"
ro,ot ........ SSO,6S3 IS
In the above S5O0. SIS. 90, is included the
bonds (sl34, Az. 26) which have heretofore
-~Deen put down as "of doubtful validity,
that is to say, they were bonds issued by
the state to the university in lo69 TO repay
the 100000 borrowed in 1860 by the former
from the latter Ito be repaid when needed,
and with interest" how, ID the name
OF decency and justice, the DAVIS
regime term doubtful validity" as
applied to this sacred transaction, has
been permitted to remain on the BOOKS
am at a loss to conceive. The seventeenth
legislature last April passed an act organE'
ing the contemplated university, ana pro-
yiGing for the erect. on of main building AT
a cost of $50, 900, and for a fair allowance
for appropriations, etc. The board OF re-
rents last summer, with $4,000 accrued ln-
teress. On hand, adopted plan OF Dullu,
ing to cost, when completed, Sl0J,OOO, anu
at once began the erection OF the west wing
at a cost OF SJ9,0 900, to be completed IN June
next. Now, this university, when com
: pleted, will require, for "iirsticlass. instr
tuition as intended, about forty professors
at an average annual salary OF 81, 5OO. Ihese
salaries, along with contingent expenses
will foot up say Sl25WO annually
But the entire university permanent tund,
consists. as seen above, Of only $4,000 OF
bonds, and nearly half OF these are ylelu'
inc mo Interest. We see, therefore, . re-
onfred annual Outlay Of $4,000, and only
Sol 600 10 meet IL. In this emergency the
legislature must come 70 the 'front.' Win
adequate relief, and they can do this with
ont detriment TO any other cause whatever.
Let us see. The uuiversity's present. re-
sources, then, are as follows: One milllon |
thirty-two hundred thousand acres oil land' |
This with the bonds as detailed ABOVE, |
constitute the permanent fund, ana only
the interest accruing from them can be uted
for university purposes. Now from |
bonds OF all kinds a revenue can De ha ed
Of saw $4,000. If, then, the l,U5ZOD
acres can be sold at, say Sl.25 per acre, and
The proceeds invested in . per cent. bonus, |
an additional annual revenue OF SioOOO
can he secured. The legislature can again /
ASSET In this measure by authorizing this /
sale. or lease Of the lands that viii yleld
an equivalent OF income. II, in addition 70
ali this the legislature will give. an endoW-
ment Of, say sl,OO0,0ys, or It's equiyalent'
out Of the public domain or its sale, when,
Invested at 5 per cent. annual interest,
- ks oh N meet the rcullreQ I
yearly expenditure. VIII this session rlse
eouaf the occasion, and do justice TO an
fns.,tution whose property has been 30 NAL
treated in the past by the state
Will Il now, at once, ionnd
on A proper basis a university that will
save 10 Texas every year at least a now out
going $4,000 BY the education OF our
youths. rich and poor, male and female!
Will IL 30 endow IL, 30 provide LOT ~ thal
The mind OF the Texas child will drink IN AZ
LIS e-z Texas home all that Is in synpathy
with her soil, her climate, her people and
her institutional Will it thus, too, brngto
these walls, the hundreds Of Applicants
f-or, ofher states 20 learn our ways and Oe
Of us7 Will IL 90 act Is viii unity the senil-
rneufs OF all these varied sections OF state
whbse immensely Of area ana cons lelt
diverritv ofiuteresrs. have more than once
sb-e.te,,ed disrnem hermenff VIII i thus
Eve NJ name. which IL can DO, e4ual
- --o-ld over. 70 Cambridge, 70 hAf-
wara 70 Charlottesville. % DIoroi
WIN "A help rive us the glory that aften .
ths most advanced states IN The Union, snd
,-hich Nerico and Spain, with All ther
s.hnIous wealth and military proves. IN
davs gone b., tailed u. secure 0ecsnse my
80 - such institutions 10 perpetuate tneir
-~fse~srnerts7 OF Val Il delay oily -oaliy
80 roefT.Sne 20 The people this great boon,
80. f-ls Ilarfual feast this poli1cal Uless
- 49, fbe nanDer of the igDsraut pass,
.-d A. d-fancs q the consrlfuh0nei r.
ou1rsnsnf, The VII Of toe oo9ors ~
-'.- - rertv. TIE crying needs 81 our
1900 -rnr~rfion 70 whom re owe TIE oeDtI
- z. 90 49, oF our rsunted public free
.-l-,.-I -~sfrrn. the most literally state
~rforsd IN ne word