The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-01-10
From Wednesdays Daily.l

From Wednesdays Daily.]
The Texas Industrial and Agricultural
association of Bexar county filed a
charter yesterday. Incorporators: Thos.
Fl. Abbott, George Caen, Henry Ryder,
Arthur j. Gaul and j. j. Keen.
ooMPTRoLLER's DEPARTMENT..
Comptroller Mccall yesterday deposited
about 100000 to general revenue.
Comptroller Mccall, in his report re-
ferring to this
BONDED DEBT OF THE STATE,
says the bonded indebtedness of the state
is shown to be S4,237, 730. Table number
40 gives the amount and character of these
bonds held by the school, University, Agri-
cultural and Mechanical college and asy-
lum funds, and the amounts owned by in
dividuals, aggregating $3,017, 100 held by
special funds, and 81 .220,630 held by indl-
vIduals.
The called session OF the Twentieth
legislature, under act of May 8, 1888, Gre
ated a sinking fund of $250,000 to pay off
such of the state bonds as fall due IN 1890
and 1891, as are held by individuals. The
issue of 100000 revenue per cent de-
ficiency bonds under act of February ID
1885, which fall due on January 1, 1890
are all held in trust by the state for the
school, University and asylum funds. Nc
other state bonds mature until 1892. Oh
the issue of May 2, 1871, per cent fund
ing bonds, $65,200 are outstanding and
fall due on March l, 1892, $41, 200 of which
are owned by individuals. Under act OF
December 2, 1871, 100000 revenue per
cent deficiency bonds we're issued and
sold: $467000 of this issue are outstand'
ing and fall due April l, 1892; 100000
are in the hands of individuals, the bal
ance, $26O,OOO, being held by special
funds, making a total of state bonds held
by individuals which fall due in 1892,
$248,700.
1 Therefore call the attention of your ex-
cellency to the necessity of an amendment
to the act above referred to, 80 as to make
the sinking fund available at the maturity
of such bonds as the legislature may in
it's wisdom deem expedlent to provide
for. vPhere are outstanding $499,OOS z
per cent frontier defense bonds issued IN
der act of August 5, 1870, and run forty
years, but are redeemable at the pleasure
of the state on September l, 1890. 1t
would seem to be wise policy to make
provision for the calling in of these bonds
by authorizing an issue bearing smaller
rate of interest-say 5 per cent; this
would be a saving to the state of $3.50 a
year, total of $199,6OO at the maturity
of the per cent bonds.
FISCAL AND APPROPRIATION YEARS.
This subject las been referred to from
time to time in the annual reports from
this department. quote from last re-
port:
"The attention of your excellency il
called to the Implications in adjusting
the states accounts, arising from the fact
that the fiscal appropriation and occupa
ton years end at different dates, the fisca
year ending August 81, appropriation
year February 20, and the occupation
year June 3d."
If the fiscal and appropriation years
were made to close on the same date
much more satisfactory estimates could
be made of the probable receipts and dis
bursements of the state government. Az
it now stands, IN making these estimates
it becomes necessary to consider either
part of two appropriation years, OF
part of two fiscal years. The
taxes for the previous year are col
looted and have been deposited II
the state treasury before August 81. The
accounts of the state are all closed al
that date. The first of September ap
proximates the time when the taxes fol
current year begin to reach the aeposi
tory of the state, SO that, it can be readily
seen, if these years closed at the same
time, the receipts and expenses for the
year would run side by side, and thus en-
able the comptroller to present more con.
cisely and intelligently, to the general
public, the probable receipts and dis
bursements of the state government fol
given year. The occupation year should
be made to close on April 80, the time the
tax collectors are required to make fna
settlements with the state. The import
ance of this last change has been previ
ously referred to.
The Harness Thief