``If you destroy confidence in banks, you do something to the economy,'' he said. ``You take out of circulation many millions of dollars.''

Rep. Charles E. Hughes of Sherman, sponsor of the bill, said a failure to enact it would ``amount to making a gift out of the taxpayers' pockets to banks, insurance and pipeline companies.''

His contention was denied by several bankers, including Scott Hudson of Sherman, Gaynor B. Jones of Houston, J. B. Brady of Harlingen and Howard Cox of Austin.

Cox argued that the bill is ``probably unconstitutional'' since, he said, it would impair contracts.

He also complained that not enough notice was given on the hearing, since the bill was introduced only last Monday.

Senators unanimously approved Thursday the bill of Sen. George Parkhouse of Dallas authorizing establishment of day schools for the deaf in Dallas and the four other largest counties.

The bill is designed to provide special schooling for more deaf students in the scholastic age at a reduced cost to the state.

There was no debate as the Senate passed the bill on to the House.

It would authorize the Texas Education Agency to establish county-wide day schools for the deaf in counties of 300000 or more population, require deaf children between 6 and 13 years of age to attend the day schools, permitting older ones to attend the residential Texas School for the Deaf here.

Operating budget for the day schools in the five counties of Dallas, Harris, Bexar, Tarrant and El Paso would be $451500, which would be a savings of $157460 yearly after the first year's capital outlay of $88000 was absorbed, Parkhouse told the Senate.