The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-06-08

III t1llbn OF my contention the 'tl4oW-
ing statement In round figures has been
taken from the reports
The permanent school fund. received from
1876 to 1902. about SlG,OOOoOO, from The
following sources, viz.
Sale Of school lands. ............ $T,60OOOa
Redemption Of bonds. ........... g, 1900
Sinking fund paid on railroad
Qne-balr safe Of public domain 10000
there has been expended Of this amount mount
under authority Of constitution as follows,
For the purchase Of bonds. $3.50 1000
Refund to purchasers ...,..,..- .dj,G1
Transfer 20 available fund. act
T8is should leave q balance Of si.5di6o.t66
leaving a difference OF $4,000. which
99mount mud has been expended Us fol
For yaiulus and classifying school 49,,
Pay Of clerks in land once .i65. coo
Paying expenses Of land board. l0,OO)
Transfer 20 revenue act Of 1888 ..,. so.OuD
None Of Which payments believe were
made under authority OF the constitution.
On the bonds purchased there was pre-
MUM paid 10 the amount Of about Si3o,Wn.
which has mol been returned. rue balk q
this was paid for State bonds purchased
from 1877 10 1884 This amount Is 81 arge.
able 20 the State under the constitution
In addition to the chuyc amount there
remains In the treasury railroad bonds 10
the amount Of $S9l 600. which, II has been
held by the supreme court we're DISCHARGED
by the payment made in treasury warrants
and which should he charged OF OF the
books and the state is liable under the
constitution for this amount to the perma-
This makes total losses to the permanent
fund. not warranted by the constitution.
s1,eGl, 600. divided ms follows;
Premiums paid on bonds ,,........ 10000
PAY of clerks and other warrants
not authorized by constitution. >. $50, coo
Railroad bonds declared paid. ... sol 900
observed
management OF this fund acts Ia hducinry
capacity with strict injHnctions az TO what
II may or may not do; that there exists
ms misrepresentation or conception as 20 the
power delegated In the premises; II Is spe-
cihcally provided that the state shall be
responsible fer all investments" no lawyer
viii contend that one cent Of either the
permanent or OF the available school fund
can be diverted from specific purpose for
Holding to this view OF the question as
dc. II Is my earnest hope that az no far
good to the common free school fund
Texas can not afford TO do less In this mat
ter. nor in the Instance or the state lnl
despoled which ! will be able TO show In
a subsequent article.
FIGURES MISLEADING.
Regarding the contention OF Mr. Hendcr-
son on the sale of public lands aud the
amount derived therefrom. his figures are
slightly misleading, as the records In the
treasury department, among other things,
show:
Receipts from land sales under
Receipts under the act Of 1851 iss,,sis 81
Transfer from general revenue 1923 s.
Total .............,....... 81. i67 3s7 50
or this amount the permanent school
fund received, 81, 424, 59l 90; general revenue
received, S172. 53s.5S; available school nd.
SIP, 5.29; permanent university fund,
S211, 16S .35: available university fund, Si5.-
10422; cash paid for bonds redeemed, etc,
Sal, 269.D5, making a total OF 81, l6I, 3Ss as,
causing the account 10 balance TO o cent,
The proceeds from the sale OF lands UNI
der the two acts OF 1871, and one net of
1857 amounted to S1,T69,5 72,T0, OF which
amount the permanent school fund re-
ceiyed S1.424O0O. which was considerably
more thnn half. all that II expected. which
knocks the statement in Uncle Travis con
tention that the permanent school fund
total losses amount TO 81, 66i 900.
Regarding his claim MS TO the railroad
bonds. the debt was discharged by state
warrants and the fund reinvested, OF vi ich
there is no record outside OF the lnyestment
of the fund. The fund was not charged
with the bonds. and for that reason the
account carries bonds that have been ps id.
Nothing can be gained by such arguments
but the chairman or the investigating COM
miftee Is OF the opinion that he can GO. the
legislature 10 proYice a remedy In face q
the fact that the accounts were adjusted