Journal of the Senate of Texas being the Second Called Session of the Forty-Third Legislature Page: 8
This legislative document is part of the collection entitled: Texas Senate Journals and was provided to The Portal to Texas History by the UNT Libraries Government Documents Department.
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8 SENATE JOURNAL.
ing venue for suits, the object of
which suits are to foreclose liens
upon real estate, and declaring an
emergency."
Read first time and referred to
the Committee on State Affairs.
By Senators Stone Hornsby and
Russek:
S. B. No. 4, A bill to be entitled
"An Act releasing all interest and
penalties on registration fees on mo-
tor vehicles for which a license fee
is due on or before January 31, 1934,
and extending the time of payment
of same until April 1, 1934, and de-
claring an emergency."
Read first time and referred to
the Committee on State Highways
and Motor Traffic.
Oath of Office.
The newly-elected Officers of the
Senate arose and were administered
the oath of office by the Chair.
Message from the Governor.
The Chair recognized the Door-
keeper who introduced a messenger
from the Governor with the follow-
ing message:
Executive Office,
Austin, Texas, Jan. 29, 1934.
To the Forty-third Legislature in
Second Called Session:
By proclamation filed in the Sec-
retary of State's office on the 25th
day of January, A. D. 1934, I have
convened you in the Second Called
Session to pass such law or laws as
may be necessary to issue and sell
the remaining bonds proposed and
permitted under the constitutional
amendment of the State adopted by
the voters of Texas at an election
duly held on the 26th day of August,
1933 for the purpose of affording re-
lief to the unemployed and indigent
persons of the State.
And in addition to the foregoing
to pass such law or laws as will
grant relief in certain cases during
the present emergency and depres-
sion from inequitable foreclosures of
mortgages on real estate and fully
set out in said proclamation.
In connection with the issuance of
said bonds I desire to make some
suggestions which I think will be
helpful. The first issue of said
bonds provided that same might be
issued in multiples of one hundred
dollars and the Bond Commission
issued same in one thousand dollardenominations. From my informa-
tion it appears that if the bonds were
issued in denominations of fifty dol-
lars, one hundred dollars and any
multiple of one hundred dollars
same might be purchased by popular
subscription more readily than if
just issued in one thousand dollar
denominations.
The former statute passed by the
Legislature provided that said bonds
could not be invested in the Perma-
nent Fund of the University, Public
Free School Fund, Highway Fund,
School Funds and County Funds.
The result of this was to cause con-
fusion and almost suspicion as to the
solvency of these bonds. It was of-
ten asserted during the sale of these
bonds that if the State would not in-
vest its own funds in these bonds
then it was inconsistent to ask the
public to invest in the same. In my
opinion this provision should be
eliminated from the law and it
would greatly facilitate the sale of
said bonds to provide that the gov-
erning authorities of each depart-
ment may, if they so desire, invest
in said bonds. As all of these insti-
tutions are supported by the State
Government and it is'expected that
the State will continue to support
said institutions liberally in the fu-
ture, I see no reason why in this
hour of threatened distress, hunger
and unemployment that at least
some of the idle funds of said de-
partments should not be invested in
these relief bonds. At least the in-
hibition in the law should be re-
moved and the heads of said depart-
ments can invest in same if they so
desire and if they do not then their
failure to do so will not be an im-
pediment to the sale of the bonds.
It is a Herculean task to sign
these bonds, and I suggest that pro-
vision be made that same be signed
with lithograph signature of the
Governor, Attorney General and Sec-
retary of State, and that the bonds
be signed personally by the Treas-
urer or his chief clerk and that they
be registered by the Comptroller or
by the chief clerk of the Comptrol-
ler's Department.
The amount of the bonds to be is-
sued will involve your serious atten-
tion. I am officially advised by the
Secretary to Honorable Harry L.
Hopkins, Administrator, that it is
the intention of the Government to
begin the demobilization of the
Civil Works Program on the 15th8
SENATE JOURNAL.
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Reference the current page of this Legislative Document.
Texas. Legislature. Senate. Journal of the Senate of Texas being the Second Called Session of the Forty-Third Legislature, legislative document, 1934; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth307712/m1/14/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.