Shiner gazette. [volume] (Shiner, Tex.) 1893-current, 1897-01-20


that at the commencement of each leg
islative session the executive shall by
message give to the Legislature infor-
nation Of the condition Of the state
and shall recommend such legislation
as may be deemed expedlent, In so far
as ii has been affected by the opera
tons Of the state government the past
two years the condition of the state
exhibits substantial and marked i'm
provement.
The new laws have operated succes--
fully and beneflcially; immigration has
been encouraged and the population
has materially increased; while tax
able values have declined in the gen.
eral national depression, it has not
been to such extent as in other states;
high character as a field for the safe
investment of capital has been main
tanned and strengthened; the laws
have been enforced with diligence and
energy; the educational institutions
have prospered and enlarged; all be-
nevolent, charitable and penal institu-
lions have grown in usefulness.
Tho condition Of the public schools
and other educational inct.tutions
shows that they have made material
and gratifying progress. During the
term deficit of S547, 69O.50 in the pub
lie free school fund has been discharg
ed and the school vouchers which were
being discounted, are now promptly
paid on presentation.
LNe insurance companies, principal
ly chartered by and domiclled in the
state Of New York, have for years
done a large business in this state. The
excess of premiums over losses paid
these companies by the people Of Tex
as for the year 1895 was S2,471 1872. The
premiums which our people paid three
Now York companies for the past ten
years amounted to s13,644,1 and
the policies which they paid aggre-
gated only S4,947, 569.51. The excess in
premiums, the sum taken out of the
state in that time, was S13,69G. 555,34,
less inappreciable commissions paid
the agents, and is greater than the to-
tai taxable values for 1896 Of either OF
the great counties of Bell or Collin.
This drain might be more sufferable
but for the fact that the money 10
squandered by the officials of the com
panies in the most scandalou5 salaries,
perquisites and incidentals, The pres
idents Of some of them receive higher
salaries than the president of the Uni
ted States.
1t is not surprising when this and
other kindred matters are considered
that the substance of the state is being
drawn to the east, and it is the duty of
the legislature to adopt measures to ar
rest it.
In this state debtors may not prefer
creditors in statutory assignment,
but, unless they be corporations, may
do so by payment, by sale of property.
by chattel mortgage or by trust deed.
Preferences except for wages, taxes
and the like are not allowed by assign
ment, or, 1t is believed by any other
method, in Arizona, California, Color
ado, Delaware, District of Columbia,
Florida, Idaho. Illinois, Iowa, Kansas,
Louisiana. Maine, Michigan, Minnesota.
Missouri. Montana, Nebraska, Nevada.
New Hampshire, New Jersey, New
Mexico. North Carolina, North Dakota.
South Carolina. Washington, West
Virginia, Wisconsin or Wyoming. In
Alabama, Arkansas, Connecticut, Geor-
oil Indian TnrrifOryy Indiana
causetts. Mississippi, Ohio, Pennsyl-
vania. Utah and Virginia preferences
in one form are legal, and in New
York they may be made for wages and
to the amount of one-third the estate.
The right to perfer creditors is claim
ed by its advocates upon the ground
that the debtor should he permitted to
do as he pleases with his own. and that
in special cases he should be allowed
to favor those who have befrlendsd
him when in distress. 1t should be re-
membered that at the bar of equity his
title to the property is not absolute,
but Is qualified by his duty to discharge
his debts. and the plea of lavoritism
can not be admitted. though persua-
sive, because all creditors. to the ex-
tent of their claims have done the
debtor the same service. dollar for dol
lar. in the loan of extension Of credit
Opponents Of this practice stand on
more logical and higher ground. What
property the debtor may possess is dis
tinctly due to all his creditors. In the
exact proportion of their debts they
have made 1t possible for him to ac-
Quire the estate, and upon every prin-
clple of justice they should share equal
ly in its distribution. In mercantile
transactions often property, unpaid
for and upon which a creditor has an
equitable and moral lien for the pur-
chase money, is transferred in prefer
ence to another creditor entitled to no
greater consideration. Disguise 1t in
whatever sophistry in the sphere OF