The Arkansas banner., 1843-09-30
No. $.

hlorailsls of WashIta will follow my exam pie, and Tn doing so, will bear in mind, that there are other sins in this world, besides the sn and folly of betting for amusement, occasionally, with gentlemen, at faro
 Here, SIT, but for the information of the Doctor, that, few weeks hence. when he returns from Tennessee, he intends. in fl series of nn9n6erS, to review my late pub- lication, should close this communication. As such Is his determination, and as do not wish to interrupt him until he gets through, anu as It IS my wish to save time, desire to make few more additions to my former publications These additions will not le numerous, and will consist mainly of public docnnents and testimony, upon which I shall rely 10 prore aH / hare erer pnbtished about lis report, and to which deem it nothii but fair that he should have his attention called. It will be recolected, that all l ha. e heretofore written, was written from mem0l Y ol transactions occurring moe than five years ago, without having document or paper 10 refer to. Since his publication of last week, have with some difficulty and trouble, procured the documents l wanted, and will now proceed, with your permission, io lay them before the public The Doctors report is, presume, fresh in the recollection of everybody. It has been published in all the leading journals of the State, and is also printed in the appendix to the journals of the legislature, and Is to he found at page 77 That report proposes to have established the following seeen distinct facts, which will be considered in their order-viz
 First: ''lt Is shown,o says the report, ''that Messts Sevier and Williamson, were the commissioners to dispose of the Bonds.n What Bonds, l ask, do the committee refer to By looking at the preceding part of the report, you will discover that they mean the five hundred bonds of the Real Estnte Bank, which were sold, through Corcoran, to the Secretary of the Treasury. This statement is true as far as il goes, but il does not slate the mhoie tfath. Sevier and Williamson were appointed commissioners, not only to dispose of these five hundred bonds, but they, by order of the bark, dis posed of an additional thousand of the bonts of the bank The sale of the five hundred were sold, as above slated, through Corcoran to Mir. Woodbuiy, the Secretary of the Trea- sury; and the one thousand to Mr. Beers, at that lime, broker and capitalist ill the city of New York. The importance of keeping in mind these tico sales, instead of the single sale, to Woodbuly, of the five hundred, will be seen in the sequel. These sales were made i'll the month of September, in the year 1858, at the city of New York-the first perfected in that month, and the other on the delivery of the one thousand bonds to Mr. Beers, which was done in the month of October following. Now, sir, to show you that am right in this statement, l refer you to the report of Anthony II. Davies, the then President of the Bank, to oui Legislature, in tie month of November, of the year 1888, which you will find printed in the append to the Journals of our Legislature of that year, and bearing date but about tUo mOnths after the sale of the boids That report, made by the President, al that time, to our Legislature, g,ves a full history of the whole transaction; and from which l have taken the following extract, which will thank you to insert:
 s'The thirty-second section of the charter of this institution, makes it the duty of tie President of the principal bank, at the com mencement of each session of the legislature, to cause to be laid before it a full and cor rect report of the situation and condition of the baak, as well as all other information touching its business, necessary to be laid before it.
 Circumstances with which you are ac- quainted, have occurred, to prevent that report being made until now. The necessary ab- sence of inc undersigned, the delay conse- quent upon the low sia9e of the rivers, and the time required to dispose of and arrange the funds arising from the sale of the bonds of the Slate, have all contributed to it. It affords me pleasure, however, now, to have il in my power to state, that all the bonls issued to tis ins tuition, amounting to one million five hundred thousand dollars, have been disooeed of; five hundred thousand dol lars of which were taken by the Hon. Levi Woodbu1y, Secretary of the Treasury, for the purpose of investing the fund left in trust 10 the United States, by distinguished for eigner, to found at institution, in this coun- try, for the diffusion of knowledge among mankind. The remaining million the com missloners disposed of ill New Yo,k, to J. | D. Beers, Esq, President of the N orth Amer ican Trust and Banking Company, under the guaranty of the bank, payable, three hun- dred thousand dollars on the tenth of Janu- ary ensuing, and one hurdred thousand dol lars per month thereafter, until the final pay 1 lncnt or lle WnOlc. Hc Hfst COillfdCt IS conditioned for tie payment of the interest and pr lcipal in the United States, at such point as the Secretary of the Treasury shall select; the latter, the interest and principal payable in London.
 "A large portion of the half million oi dol lars received ftom the Secre' -ry of the Tea sury, was offered to be paid in gold, at the mint in Phladelphia but, as the fund had been received ill foreign coia, 1t had to un- dergo the process of re-coining, before the Secretary was willing 10 pay it out. The delay which would necessarily have follow ed awaiting the completion of the coinage, and the utter impossibiiity of getting the goi,i down the Ohio river, in consequence of the low stage of it's waters and the suspension of all navigation on it, coupled with the fact that the Commissioners were fully advised of xf.x~xr~ <y