People's Pilot, Volume 4, Number 46, Rensselaer, Jasper County, 9 May 1895 — State of Texas Is Broke. [ARTICLE]

State of Texas Is Broke.

Austin, Tex., May 7.—The state treasury, when It closed last night, was pronounced “busted” by Treasurer Wortham. The passage of the general appropriation bill by the legislature Just closed made the state liable at once for $614,000. To pay this amount there was only SIOO,OOO. The bill became effective yesterday and warrants were drawn, and within six hours every cent of the SIOO,OOO in the treasury was taken'out, and there is now a shortage of $514,000.