Brenham weekly banner. [volume] (Brenham, Tex.) 1877-1907, 1891-07-23

within the prescribed limits. Wh1le
this is our opinion one of the least
important of any, of the amendments
and one that will cut no figure in
Washington county, it follows out
the democratic idea of a government
for and by the people, and allows
each community the privilege of
regulating the sale of Intoxicating
liquors according to their own ideas
of whether it should be sold or not.
THE SCHOOL FUND.
The proposed amendment to the
school law, known as the Jester
amendment, which the last legisla-
ture voted to submit to the people
at the approaching election the sec
ond Tuesday in August provides,
''that, the principal of all bonds and
other funds and the principal arts
ing from the sale of the lands here
inbefore set apart to said school
funds shall be the permanent school
fund, and all the interest der1vable
therefrom and the taxes herein au-
thorized and levied shall be the
available school fund, to which the
legislature may add not exceeding
one per cent. annually of the total
value of the permanent school fund,
such value to be ascertained by the
Board of Education until otherwise
provided by law, and the available
school fund shall be applied annual
ly to the support of the public free
schools" Allowing the Legislature
each year to donate 1 per cent. of
the permanent school fund to the
maintenance of the public schools
will, if adopted be a stride in the di-
rection indicated by the State plat
form. The fund, state and county,
is estimated at S10O,000,000, and 1
per cent. of 1t is S1,00O,000, which
would reduce taxes that amount,
and will go far towards the main
tainance of a six month school,
which cost only about 100000.
The increase in the value of the
public lands from year to year will
amount to as much or more than
the 1 per cent, hence this appropria-
ton, which is due to the present gen
Grafton, will not deprive posterity of
any of the advantages which the
present will enjoy, as the increase
in value of the land will each year
balance the expenditure, thus main
tang the school fund. Mr.. Jester
believes that the fund will still be
worth in five, ten or twenty years,
under this system, more than it is
to-day.
The public school land of Texas
is one-eighth of the domain of
Texas and larger than the State of
Indiana, and Just what it will be
worth twenty years hence is hard to
estimate, but it is pretty safe to as
sumo that in view of the advance of
the ''man with the hoe" that its in
crease will at least be more than one
per cent per aunum, hence the theo-
ry that this law would impair the
character of the school fund as a
perpetuity, is exploded, it is only
collecting the interest on the fund
in advance, and in view of the fact
that the present generation is
founding universities and colleges
erecting academies and school
houses, establishing libraries and
laboratories, creating all the elabo-
rate and costly machinery of educa-
cation, which will be transmitted to
posterity and used by them, poster
ity can we'll afford to give us the in
terest on the fund in advance and
have none the worst of the bargain.
The laying up treasure for the ed
ucation of the unborn is generous,
but taking the interest of that fund
to educate the present generation is
but justice to ourselves for the
Gods help those who help them
selves" and if the present genera
ton is educated they will be able to
educate their children and SO on
down through posterity.
This amendment to the constitu-
ton is one of the crying necessities
of the hour and should by all means
be adopted at the approaching cleo.
ton.
THE LEGAL RATE OF INTEREST.
The proposed amendment to the
constitution, to be submitted to the
people the second Tuesday in August
for their adoption or rejection, rela
ting to the legal rate of interest,
which is an amendment to section
II article 16 of the present constitu-
ton provides that all contracts for
a greater rate of interest than 10
per centum per annum shall be
deemed usurious, and the first legis-
lature after this amendment is
adopted shall provide appropriate
pains and penalties to prevent the
same; but when no rate of interest
is agreed upon, the rate shall not
ayoaad civ nor naD+uD1 nor oDD,,,,