The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-13
TEXAS MONEY AND 1fxlS'II,

I
s alarmed ,s,,s se, ia writers Who's ,,ss
ance with the Facts coupeo,.s e
administration OF public aifa,,. !, NY
Of the bowling kind. Tia =. ! e \
bankers Is disturbed because ~. !.
accumulation of about sl.ooo 49, sv'' Y
Robbins hands which they ~, I, =
hnger nor turn over. and tbss = 10y
sgitating the subject Of STAT. h. q
with view to moulding publ,s ' .s'
In favor of a scattering Of Il. \. spa
moneys among corporaticns .o,o,,.
and discount privileges "a nr.s .'as
Withdrawal from circulation y WI "
The alarmed writer's ara -.
and paper in the premises sImnl,
they must scri'bble about son,ns,. ossau
the less they know about whas ~
the better satisfied they ara We! tasl
Now these people need
There is nothing abnormal sh,,, W.
present condition Of the stats ssM
This is the time of year when th., ass ~
De Il big balance on hand. tn 's sa'
lectors have just completed mss,ss ~
settlements and naturally tha rH "
piled UP. 1t wol't be on 10y .s'
however, for 1t will be dra~a s-s %
month after month until the s.a s w
year and gradually exhausted i = y
OF claims against the State 81 pq@e
bottom viii be In sight when H. a1 I.
comes for collecting NEXT yss,,s y
Such is always the case and ,h.s. ~ y.
occasion for the stir being MAJ 4. =
premises. No money is being w.
OF circulation to hurt and the emsr,.s
has not arisen requiring the st,ks i y
collections from taxpayers into tae i,
the bar ks to get rid of II. And NIX
the experience of other States Nix y.
repositories has not been Of k,,s
induce Texas to try them should i IN y,
be IN need OF relief from congsstje,
money in its treasury.
~
With regard to the permanent n,
fund the facts are quite different h.
those in the case of the general rsv.,
fund.- The permanent school funa i,
fruitful source OF much concern and m,
suggestions have been made with reu
to its investment, yet It CONTINUES d
cumulate in an uncomfortable ratio. n
State board of education has been g,r
the greatest possible latitude in The I'd
chase of county and municipal bonds M
the money might earn something tor h
available school fund, but this has hl,
of the desired result. Few acceptabM
municipal bonds have been presented II
bond brokers ana speculators appear
have the go with commissioners cseru
most cases where the Investment Il
sirable, they preferring, It seems 10 n
interest to outsiders to keeping II 10 d
State by negotiating with the board
education.
Several attempts have been mids i
make the people s.se the advantage 4 4
Testing the school money in the bonds
a trunk railroad to be built from the q
northward, but misreDresentatio y
scheme have so far defeated It's adopua
That it must eventually be resorei "
a permanent and sensible placing Of
fund is aimed at Is the opinion Of mai
thoughtful, and clear-headed men
view the States business in the same w
they do their own and would consal
nothh g but the possibility Of good rsul
in attending to 1t without regard TO
/ litical effect or future prsfermeM
once would the idea OF turning this na
over TO State dspostories attract
class any more than it would In come
ton with the general revenue fund
Speaking OF State funds and th
sire of the national bank corporatoa'
secure the handling thereof. It does
seem to have occurred to certain rslN'
ers who are ever anxious to pace
constitution that said corporations y
a good thing of it in this State, pre-
/ as they are by It's organic law Nssa
banks are the only concerns wnAs
succeeded in having pronip''ioa e.
the incorporation of rivals nseFIsa
constitution. The granting oil casi''',
private corporations with loan any
count privileges is forbidden N '.s
strument, which turns the state vi
the national banks and the ioreta
companies, and practically gua.'
them a 10 per cent rate OF interes. =
| denies possible competitors tne r'r.
of acquiring corporate rights anu :
cheap money out of the Held
This is but one of the many ressv v,
the constitution should DO reouns
whenever a constitutional consshu
suggested by well meaning pelso.s
ara anxious to see the State keep ~
the times some self-constttutea 80
on tina. watch tower sets up III
the corporations are trying Il,
on the people and take away Nv 4, t
by rubbing out what was W., ss,s
fathers" The fathers" may nav s,,,
wise enough in their day and gsus
but they were certainly good 70 Wv
| porations. .,,,,,utj
Not once IN that sacred cons" h,
which today is more OF an ellison sysoos
when it first took its place I'VE
prize puzzles OF the country y W.. ~
thing to check corporate donina' Nan
stated above. it absolutely hnd sps.g n
guarantees the national BANKS ,.s iii
passes up other corporations WIZ q \ a
ant smile aud friendly nol' nm lid
does 1t lay the least inluncuoa s,yeryd
although It saws don : 70
and everything else.
Right now the Texas private 0O's u
act, which is constitutional in ever n n
t,cu,ar vi,, IN hreadth compare wiIn ~
lar acts in effect in any state OF ~ n
1t is our habit in Texas % M
alarm the tendency of New 'sr'e s,.,s3
Virginia and other corporation ~, \
States to foster trusts. yet uu- =, n
own dear laws passed under our Y. 's ss.s /
constitution charters may East u
for any purpose that the eiis. '. case cases
grant franchise, and u s0 Isr.sv vi
purposes that even New .a y,G' N, d
inquire into. Yet we are wv change
mai