Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-01-20
TEXAS FINANCIALLY.
What the Report of the Comptroller
shows Condition of the State Debt.
How the Money is Raised to Educate the
Children-Property yalaes-1he Wealth
Invested in Railways.
Special Correspondence Of the Gazette.

/ Special Correspondence of the Gazette.
AUSTIN, TEX. Jan l9.-The report of
the comptroller, recently issued, contains
! figures that are both interesting and sig
mfcant and which may be more valuable
in advertising the good condition of the
state financially aud the rapid advance
being made in its material Development.
The bonded debt of the state iss4 PSI 80,
of which S. Oh, 100 is held by the public
school, university, agricultural and
mechanical college and asylum funds,
and 81 ,220 $50 by individuals This
| latter sum is really sill the debt
the state owes, for the other, being
/ held by these special state funds. the
paying of interest thereon Is l2Uch the
same as the process performed by an in
dividual who takes money from one
| pocket and puts it into another If the
money was not paid to these institutions
in the way of interest, il would be paid in
the shape of direct appropriations, for all
of them are such rs a progressive people
are willing TO tax themselves to support
And the people who are now running the
| gOvernment-the Democratic party, in
ShOTt-are
IN NOwTSE RESPONSIBLE
1bI TIE UeUl nov OMEQ. W uCu TIE IftilQ-
Gratis were depoSed in 1861 they left the
state out of debt aud cash balance in
the treasury; when they resained power
in 1874 they found a debt of some five
million dollars 10 be paid Had the Fed
eral government left Texas alone she
would now not owe dollar Some two
hundred and fifty thousand dollars of
these bonds will be due in 1901,
ana n sinking fund has been already
provided to redeem them There
are S499 900 of 7-per-cent. bonds
now outstanding which VIII be rejeema-
bic at the state 5 pleasure on and after
September l, 1890, and the comptroller
advises that arrangements be made 10
call in these bonds by issuing the same
amount at a lower rate of interest If
the rate were reduced TO per cent. it
wouldssave the state S99S0 a year.
The report shows that during the year
1888 there were disbuTsed for the support
of the public schools s. 500 ,0SS .9S, leav-
ing on hand a balance of SS3 $40 ~. The
securities held by the school funds are
So ,O4S 800, Texas state bonds 8 ,532 $40,
county bonds; 81, 81, railroad
bonds; total of Sc 1874 ,957. which is an
increase of S4l6 POO in the last year The
interest upon these bonds addedrtJ the
amount raised by the 1915 cent tax levied
for school purposes furnishes the large
sums which are every year expended in
furnishing an opportunity to the youth Of
the state
FOR ACQUIRING EDUCATION.
In the matter Of the penitentiaries the
report shows chat the balance in hands OF
financial agent August 81, 1887, was
S3l ,269 %; receipts at Huntsville, S453,-
405 10; receipts at Rusk, S54 1866 81; the
amount drawn from the treasury, SI27,-
$50 90; making n total of S666 ,T9I %
OF this amount SAT- ,372 90 was expended
at Huntsville, Sl72 FPS .43 was expended
ut Rusk, leaving balance in the hands
of the financial agent August 81, 1883, OF
ST. ,290 so
Thus it will be seen that the expenses
at the penitentiaries for the year was
S649 800 .43.
The report shows the property values in
the state, as rendered for taxation to be
S6Sl ,0S4 1904 in 1888, against $3.50 Alp ,4O1
in 1887. In this connection perhaps a
table showing the values for % number Of
years back would be Of interest Those
prior to 1887 were not included in the re-
port under discussion, but have been
gathered from other sources. The figures
are rs follows.