The Quarterly of the Texas State Historical Association, Volume 14, July 1910 - April, 1911 Page: 17
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.
The state was indebted to special trust funds to the amount of
$1,455,913.86 on account of United States bonds and specie used
and for evidences of state indebtedness received in the collection
of revenue. The school fund was due $1,137,406.05, the univer-
sity fund, $283,514.22, and other special funds, $34,892.49.1
The amount due soldiers and for supplies was estimated at
$3,150,000; the unpaid debt of the Republic at $110,613.23; mis-
cellaneous debt at $199,176.76. TIhe total debt was $8,110,832.58.
Deducting the debt of the Republic, there remains $8,000,219.35
which represents the debt incurred from 1860 to the close of the
The convention of 1866 declared the debt created in aid of the
war null and void, this being directed by the fourteenth amend-
ment to the Constitution of the, United States. Excessive zeal led
it to go beyond this and to repudiate the civil debt contracted be-
tween January 28, 1861 and August 5, 1865.3 The constitution
of 1869 went still further and provided that "all unpaid balances,
whether of salary, per diem, or monthly allowances due to em-
ployees of the state who were in the service thereof on the said 28th
day of January, 1861, civil or military, and who gave their aid,
countenance or support to the rebellion then inaugurated against
the government of the United States or turned their arms against
said government" were forfeited. Also, "all the 10 per cent war-
rants issued for military services, and exchanged during the rebel-
lion, at the treasury, for non-interest warrants" were declared to
be fully paid and discharged.'
Under the above provisions the Reconstruction auditorial boards
recognized a. debt of $251,048 to be due individuals. In 1876 and
1883-6 the school and university funds received $857,240.71 of the
amount to which they appeared creditors at the close of the war.
Of the $8,000,219.35 there was, therefore, $1,143,181.26 recognized,
leaving the repudiated portion $6,857,038.09.
MS.S. report of Pease and Palm, Executive Record, 281, p. 116.
2MSS. report of Pease .and Palm, in Ibid., pp. 118-119.
$Gammel, Laws of Texas, V, 887, 900.
'Art. XII, Sec. 34.
Here’s what’s next.
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
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/m1/25/: accessed April 28, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.