The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-07-10
The Cash Balance.

When there was healthy cash bal
ance in the state treasury and those
holding, or in any way interested in
the paper of the state, telt perfectly
easy, when the taxpayer was not con-
fronted with a living threat of in
creasing the rate, when everybody
felt easy and when the credit of
Texas stood a. l. in all the financial
centers, both at home and in Europe
men were disposed to jibe good
deal at the provident care of the old
alcalde in massing few millions for
possible emergencies. There was then
at the front class of men who felt
very uneasy because there were sew
eral millions thus laid up for
rainy day. They sighed like
Doloroso for the rainy day, and it
came, alas! it came and all too soon.
Less than two years since there was
plenty of money for everything, and
some to spare. There was also strong
talk of largely reducing the rate of
taxation because the government did
not know what to do with the sur
plus. Now, however, we are danciug
to different tune, and with an actual
deficiency of nearly million the able
financiers of his excellency are labor
ing night and day, calculating the
taxable values, and just how much
advance to ask the legislature for,
or they are peering through the
financial fogs of Wall street
to find the confident banker
who will advance a few millions to
tide the state over until some wiser
and more business like administration
can restore matters. Meanwhile the
good deficiency constructor is to be
retired into the United States senate
and be permitted to enjoy the "otium
cum dignitati'' common and proper
to those who have served the state.
The cash balance and "pay as you co.
theory is now voted obsolete by this
progressive sage of Seguin. 1t has
been right royalty spent but just what
we have got for it, it would puzzle
the sharp soul of Allan Pinkerton to
find out. Still the state escapes the
odium of a cash balance, and in adj
dltlon, she has rizen to the dignity of
having a score chalked against
her in several places. She confront
deficiency which must be provided
for next winter, and there is no way
to do it only by raising the taxes.
This is remedy which may suit the
administration to dot, but when you
come to place the proposition before
the farmers, merchants and property
holders generally, it will not suit them.
Indeed their views are very different.
They don't see well through such
spectacles, and yet they will have to
look through them for several years
yet, unless they do some pretty tall
work before the Houston convention
assemblies.
1t is indeed passing strange that men
will be so glamoured by polit-
ical favoritism that they will
gladly vote for man after it has been
clearly demonstrated that the policy
he is persuing, and which he proposes
to continue in the future, must iney
itably result in placing additional bur
dens upon his own shoulders, and in
seriously Gripping the resources and
prospects of the state. The Ireland
administration in less than two years
has reduced Texas from the "pay as
you go" attitude, to that of a seeker
for credit. The estimates point to a
deficiency of vast amount, which
can only be met in the way we have
indicated. Is this a record with
which to go before the Houston con-
vention expecting a nomination by
reclamation, and subsequently a tri-
umphant election by the u.s.
ual 100000 democratic majority |
A carpenter maintains himself by the |
excellence of his work, minister by
5he character of the sermons he |
and lawyer by his success
n winning causes for his clients. 1t
s only the politician who thrives on
allure. Looked at in the light of the
esults it has produced, there never
vas more egregious failure than
his administration of (xouarnor To |
and's, and yet he has succeeded in
o stocking his hand as that his NOM
nation at Houston is an assured fact
Mess there is revolution between
ow and then, or unless the people
7ill pause in their phrensy and
pply the same rules to the political
tuation which they do to other at {