Arkansas intelligencer., 1844-12-07

may locate upon any of tho selected lands, or hold
up for payment when funds shall be realised from
sales; these warrants being made payable in the
order Of their number md date. BY this means.
tho Board might be allowed 10 commence opera.
tions at an early day, and with great advantage
TO every interest in the State, upon several OF our
rivers now requiring the removal Of distractions
to navigation, and upon various routes Of land
travelling, by improving old roads well us sur
veying. marking out, aud opening new onos.
Such system of Internal improvements as
have suggested, in the hands of competent men,
cannot. in my opinion. fail to advance tho interest
of the State, in an eminent degree. Its effect
would be to bring the lands rapidly into market,
and ensure them ready sale. immigration to
the State would be encouraged; and settlement
and improvement. giving mutual assistance, would
proceed with even and rapid steps. The expert
enco Of the first two years would afford data, upon
which the General Assembly, at its next session,
might proceed to any defects in the system,
and improve it to the exieEt Of its highest capa.
bi,ics of public good. by making such appropria.
tons us occasion might require. and the judgmcn,
Of the people, through their Representatives,
might dictate.
1t is no valid objection 10 this system, that at
some future period, perhaps in the course of n
few years, these lands mny be more valuable. and
con- nnnd higher price, than at present; for such
enhanced value will be mainly produced by the
very plan propose for disposing of them. -
| The wealth Of nov Sines like tha: Of indivdu.
ais wien i; consists of wi and unproduc,ive
lands, is usually tie source of more expense than
profit. Such is the case with us at present. If
the lands II, disposal be suffered 10 remain in
their native wiIdmcss, unsold and uncultva!ed.
they will continue 10 exact care and expense at
our hands, without any corresponding benefit TO
US; and prove valuable only 10 some remote gen.
Grafton of our descendants who, admonishcd by
our culpabe disregard of the true interests of the
State, shall adopt the enlightened policy Of bring
ing into active operation all the clements of pros
peri,y at lhsjir disposal.
Among the good effects to be expected from the
s,stem Of Internal Improvement have proposed
would be The diffusion among the people, Of ready
means sufficient to enable MANY to discharge their
liabilities 10 the Banks. This is consideration
Of peculiar importance, when taken in connection
with the late floods Of our rivers, which have prov
destructive TO the crops to forbid the hope
that any considerable amount of Bank debts will
or can be paid, during the current year, from the
sales of cot ton or other agricultural products
Under these circumstances, do not feel justified
in advising any additional tax upon the people.
who are. already, very heavily burdencd. And
yet we are without the means. in hand, TO pay the
Accumulated, and sl accruing. interest upon our
State Bonds. This will not, | trust, and in Jus.
tie should not be attributed TO spirit Of repuda'
ton. Our escuicheon has, so far, been preserved
free from this stain; and sincerely hope, and
confidently believe, it will be, in all time to come.
Our failure to pay has resulted from inability, and
not, am sure, from indisposi,on 10 meet, fully
and promptly, all our just Liabilities. And | am
equally sure, SO soon as the requisite shall
be in our possession, none will have just cause of
complaint at our delinquency.
In view of our embarrassmenls, it NAV be wise
to consider OF the causes which have produced
them; for if such retrospect cannot remedy the
evils of the past, it may salutary lesson
IN the future. And here we met, at the very
outset, with the now obvious mprudence, on tho
part of our infant State, of incurrng such an
enormous debt for the establishment of Banks;
which. without, the ability to create real clements
ofprosperily, gavo fictitious values to every species
o! property repressed and retarded the development
of the true resources of soil and people, and al
length exploding, have left the crippled victims
OF visionary speculation. The pursuits of our pco.
pie, and the condition of our country just emerging
from The wilderness, did no, lhen and do not now,
justify tie oil Banking facilities, fiat all, to
the extent provided. and of which We availed our.
selves, it seemed, in spirit of emulation of
the eXrrava -ance of other States, ratncr than
in accordance with our real wants aud subs,an.
tlul means. The highly inflated state OF the cur
rency, in all parts Of the Union, at the time our
Banks went into operation, with the o,her causes
have mentioned, all contributed to lessen the
value of each mans accommodation, while in the
same ratio it added to the debt contracted, and 10
he paid now. Few, | apprehend, havo ever bocn
able to reahzc any profit from their so called nc.
cou,inodations, while almost every one has loss
10 regret. Ia these trace the causes of the pres