Bryan daily eagle and pilot. [volume] (Bryan, Tex.) 1909-1918, 1914-09-19
A FINANCIAL CURIOSITY SHOP.

Governor Colquitt has submitted Il
the Legislature the bill disclosing the
plans and specifications OF the Banl
OF Texas, which his imagination has
conceived under the stimulus OF ex
traordinary events. He cannot believe
that the Legislature can be persuaded
TO copy this bill into the statute books
during the four or FIVE days that re-
main OF the special session. The sub.
ject II treats is too big and complex
to be explored within that time. and
the consequences which a blunder
would entail are so disastrous that no
body OF men having reasonable
sense Of their responsibility would
put them to the risk OF such hasty
action. Since, therefore, It is we'll
nigh inconceivable that the Leglsla-
ture could be persuaded or coerced
into taking affirmative action on this
measure during the time that remains
OF the special session, Governor Col
quit must intend to call another ex-
traordinary session II he is encour-
aged TO believe that thereby he can
bring about It's enactment. II is TO be
hoped he will not receive any such
encouragement Il is to be hoped
that on the contrary, prompt and un.
mistakable means viii be resorted to
70 make II plain to him that a measure
OF this completely and momentous
consequences must be made to with
stand a season Of public examination
and criticism before 1t can have any
claim TO legislative consideration.
This bill seems TO have a twofold
nature. It is meant to serve the
emergencies Of the moment growing
out Of the decentralization of the cotton
market And It is meant to revolu.
tionize the fiscal agencies of the State.
The finances Of the State. as well as
the public school fund. are to be ad-
ministered through the instrumental
ties OF a bank. which Is also TO act as
a central bank for the State banks
and which Is. furthermore. apparently
to act as a kind of broker for counties
and municipalities having securities
to SELL And it is to have several
other functions, so many and varied
that II II should ever come into ex.
istenoe its uniqueness would bear clio.
quent testimony. II not to the financial
acumen Of its authors, at least to their
ingenuity. AS an emergency measure
We think 1t would be doomed TO n Ger.
tain, memorable and signal failure
Whether as a permanent measure to
serve the fiscal needs Of the state II
has any merits is a question which
not even thirty days is sufficient time
to answer. They are atomic and oh.
scure at best. Its multiformity and
completely cast a glamour over II
which is likely to excite the imagina.
ton, and, in doing that, betray one
into the fancied discovery of attrac.
lions which will not withstand critical
examination.
A State which has Numbered so per.
sistently and egregiously as Texas has
In the effort to manage its penal and
eleemosynary institutions may very
well doubt its ability to manage a
banking system for which there would
be no counterpart nor prototype to al.
ford guidance of presidents. Even
II this bill had all the merits its
authors imagine 1t has, It also con.
tains elements OF danger and posi-.
bilities OF disaster which must coun.
sci every mind not frenzied by lust
Tor political popularity to subject 1t
to the ordeal Of long and critical con.
sideration.- Galveston News.