The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1886-10-14
A SUGGESTION
TO INVEST THE SCHOOL so AS TO
MAKE MORE PROFIT.
AYrcr,> Tvx.s Ootohar a 1909


AUSTIN, TEXAS, October 8, 1856.
To the Statesman:
most respectfully ask pardon in sub
hitting again for the consideration of the
public scheme proposition to change
the custom of investing the permanent
school fund as it accumulates, in county
bonds, which is now provided under laws
made and provided for that purpose, and
instead thereof invest a portion or part
in school fund farms and fire proof school
fund manufactures.
Love of country oftimes prompts COM
mon citizens to present ideas and schemes
OF political nature which frequently have
been formulated and become the laws of
the land. So it is, hope, am not out
of order, as our state law makers will soon
be chosen to sit this winter i'll council and
legislate for the people.
Under an amendment clause of the state
constitution power is granted to invest
the permanent school fund of the state of
Texas in United States, state of Texas
and county bonds, OF other securities, as
the Legislature may hereafter direct.
The present system or custom of invest
ing the school funds in county bonds, is
susceptible to dangerous inroads of spec
ulation, litigation and overcharge of tax
alton upon the people in many counties
of the state, and may finally end in heavy
loss to the people at large. See the
amended clause of the state constitution
and laws made and provided hereunder.
In the near future, as per fruits of po-
litical economy, there will be no federal,
state or county bonds to invest the per-
manent school fundin, so as to derive avail
able means in aiding public education,
tightening taxation for same. Then, as
this will no doubt be the case, as an hum
BILE citizen | respectfully propose to in
vest portion or part of the permanent
school fund, us circumstances will admit,
in school fund farms and fire proof school
fund manufactures, which may be run or
leased in the interest of the permanent
school fund of the state of Texas.
TIE greatest interest, l presume, is
from investing in fire proof manufacto-
ries. And why? If there ever was need
for manufactures in any country, this
need is presented in Texas.
But to be brief in the premises, both
for farm and manufactures, l agree in
this wise:
LIST. Because such investment would
create and pay greater, more available,
perpetual interest and profit than any
plan or system ever has or could be
adopted with safety to the people under
provisions of the state constitution.
I'd. 1t would be an enterprise creating
and producing an everlasting and lively
impetus upon agricultural, mechanical
manufacturing and mercantile business
of the people, and in fact, would turn to
the full development of the great and
grand resources of the country.
Sd. 1t would better the condition, mo-
rality, prosperity and political policies of
the people 10y creating active and indus
trial enterprise, and give us the more i'm
mediate necessities of life in honest, good
implements of husbandry, stimulating
purity of purpose, both in government
and individual action.
If such scheme was carried out with
effect, sincerely predict that in the flu
ture, this working OF same, would reduce
taxation-that the civilized world would
be astounded.
Now, in conclusion, the legislature is
allowed under the constitution, to loan
this money out to individuals whioh would
be the widest political heresy ever prac-
ticed upon republican people. 1t is to
be hoped, however, that our statesmen
will act with more caution than even to
moot such wild and reckless scheme.
Respectfully,
MCBRIDF PRIDGFN