WRITINGS OF 5AM HOUSTON, 1861
261
that there was then in the Treasury, subject to disbursement on account of State revenue, $5,279.69. The Legislature has already appropriated $9,768.62 of the fund arising from University land sales, and $17,313.30 of the fund accumulating from estates of deceased persons, for the per diem and mileage of its members, and it has only been by the use of these funds that the Treasury has been spared thus far from entire bankruptcy. The amount on hand will be exhausted before the termination of the present week, when there must be ·a suspension of specie payments altogether. The revenue estimated to come in on July 1 ('$343,344.27) will be much reduced, from the fact that the Comptroller has been, and is now drawing advance drafts on the various assess- ors and collectors to meet appropriations. It is also well known that the assessments for the present year have been suspended by order of the Comptroller. Property in the meantime has been steadily decreasing in value, and parties will not be willing to have the same assessed at any more than it will bring in the market at the time of assessment. This depreciation in value will be so great, that at the present rate of taxation not more than half the amount estimated will be collected. The ordinary expenses of government, about $30,000 per month, are to be met until the taxes come in. The officers, many of whom are dependent upon their salaries for the support of themselves and families, should be punctually ' paid; but even if they wait until the taxes come in, the Treasury will then be without a dollar to pay the expenses of the next twelve months. The necessity for the adoption of measures whereby the Treasury may be replenished, must therefore be apparent. Without considering the possible contingency arising from a change in our Federal relations, means must be provided to meet the deficiency of $817,827.10 mentioned above. But should Texas withdraw from the Union, a new condition of things will arise which will require large expenditures. In view of the possibility of such a contingency happening at as early a period as the 2d of March, the Legislature can not fail to see the necessity of making such provision as will secure the safety of the State and maintain its honor. Steps should be taken to provide an adequate force to take the place of the 3,000 Federal troops now in Texas. The safety of our frontier depends upon the action of your honorable body in this respect. A few days of delay may involve the most terrible consequences.
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