' I
WRITINGS OF 5AM HOUSTON, 1860
210
If politicians are willing to trust the people, I can see no reason why they should not be willing to allow this question to go to them, as provided by law. The bone and sinew of the country have as much at stake as the politicians and citizens of towns. Let the people at the ballot-box select men to reflect· their sentiments in a convention of Southern States, and no one can complain. As one, I cannot believe our troubles are beyond remedy, and am willing therefore to see the wisdom of the entire South assembled to devise some means for their settlement. Steps have been taken to provide for the presence of delegates from Texas in a Convention of the Southern States, no good reason presents itself for the assembling of the Legislature. Many good reasons present themselves to me, why it should not be called. Our Treasury is nearly exhausted, and debt is accumulating upon us. The Treasurer's report for the week ending Dec. 1, 1860, shows but ~70,61'4.54 in the Treasury subject to disbursement. The current expenses of government average 832,000 per month, which will exhaust the Treasury by the first of February. There are already in circulation in Treasury Warrants bearing ten per cent interest, $81,318.25 the same being issued to the Rangers. The only means the State has to pay these is out of the $182,000 appropriated by Congress to reimburse Texas for expenses in- curred for Frontier defence, which is still in the U. S. Treasury. A number of the Rangers are yet to be paid, which will exhaust. the whole amount and leave a balance still drawing interest. Were the Legislature to assemble, the expenses incurred would neces- sarily defer the payment of Warrants, and cause them to depre- ciate still more. The Rangers have already been compelled to sacrifice from ten to twenty per cent of their pay and nothing but absolute necessity should compel them to submit to greater loss. Besides the funds in the Treasury on account of State Revenue, there is nothing which can be legitimately applied to the payment of the expenses of the Legislature. The million of U. S. Bonds belonging to the School Fund is set apart for the benefit of the Rail Road interests of Eastern Texas, and upon which its citizens depend to carry forward the enterprises they have commenced. To divert it from that object would ruin them. We would there- fore have to go in debt and throw our paper into the market, where, in the present period of commercial distress, it would only sell at a depreciation greater than that issued to the Rangers has met. The policy upon which we have acted as a State, is to avoid debt, except when necessary for the purposes of defence. When paid, the pockets of the people must suffer.
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