The Quarterly of the Texas State Historical Association, Volume 14, July 1910 - April, 1911 Page: 11
The following text was automatically extracted from the image on this page using optical character recognition software:
State Finances of Texas During the Civil War. 11
ation. Texas was one of the two states, Florida being the other,
which did not permit their tax officers to serve in the same capac-
ity for the Confederate government. It was also one of the two
states, Mississippi being the other, which did not assume their
quota of the Confederate direct taxes.' Confederate taxation was
much heavier and more rigorously collected than state taxes, and
amounted for the four years 1861-1864 to the huge sum of $37,-
486,854.43. Only $26,904.64 of this amount was in specie.2
Character of Receipts
The act of February 9, 1861, authorized the receipt of 10 per
cent interest warrants in payment of land and the 2 per cent sink-
ing fund of railroad bonds held by the school fund, and the act
of January 11, 1862, made all treasury warrants receivable in pay-
ment of land.3 After January 11, 1862, treasury warrants and
Confederate notes were receivable for taxes and all other public
dues, except for the specie loan tax, and for interest and principal
of the railroad loans by the school fund.4 The act of December
16, 1863, however, made treasury warrants, bonds and interest
coupons of the state receivable in payment of railroad indebted-
ness to the school fund."
The great depreciation of Confederate notes led in the spring of
1864 to the enactment that after the last day of June next and
until October 31, Confederate notes of the old issue of the denom-
ination of $100 should not be receivable for public dues except at
a discount of 3 and that no Confederate notes bearing interest
'Smith, The History of the Confederate Treasury, 25.
'Condensed account of G. J. Durham, Collector of Confederate Tax for
Texas, in the Weekly Southern Intelligencer, August 11, 1865.
-'Gammel, Laws of Texas, V, 355, 466.
"Ibid., 481. The Tri-Weekly Telegraph, December 2, 1861, noted that
state treasury warrants passed at a discount of from 50 to 60 per cent,
and it dissented from Governor Lubbock's recommendation that Confed-
erate notes should be made receivable for public dues. This, paper op-
posed also the funding of state warrants and urged that the best way of
making them approximate par was to make them receivable for taxes
and other public dues, and advised that to this end taxation should be
increased and expenditures decreased. ISee issues of December 16, 1861,
and October 26, 1864.
"Gammel, Laws of Texas, V, 69i1; Act of 'Mlay 28, 1864, Ibid., 767
Act of November 15, 1864, Ibid., 820.
Here’s what’s next.
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas State Historical Association. The Quarterly of the Texas State Historical Association, Volume 14, July 1910 - April, 1911, periodical, 1911; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth101054/m1/19/: accessed July 27, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.