The Arkansas banner., 1844-03-06
For tbe Donner

For he Banner.
 CLAY CLUB OR THE REAL ESTATE BANK.
 MR. EDITOR :-Candor and regard for truth, prevents me from charging exclusively upon the whig party, tie establishment and mai-admnistration of our State Bank system |; that fatal error, and the lamcntable disasters consequent upon it's existence, is justly at tributcd to some of both parties By that unfortunate stroke of policy, we arc over i whelmed in debt, and on the very verge of bankruptcy--from which condition it be- comes the duty of every well wisher of his country, to lend his aid and influence to ex- :ricate the State from her deplorable embar- rassment.
 Whichever party is most likely, from their political opinions, to effect that desirable ob- ject, will deserve the support and confidence of the great body of the people. It is, there fore, deep and vital question, to be settled by the people themselves, aitera a patient and impartial investigation of the principles which govern the two parties. 1t is my purpose, therefore, in this communication to present to the people of this State, some of the lead- ing tenets of the whig party, from which draw the inference that their principles in- stead of retaining the State, will tend to bankrupt the citizens, or lead to a violation of the faith and credit of the State, by RErU- DAYTON?
 ltis due to the whig party, however, to state, that they have been clqmorous and abu- siee ot the doctrines of repudiation---charg- ing Il as '.dishonest and unworthy the coun- tenance and support of any party D {notwith- standing their support of .Mr. Clay's Bank- rupt acf, which set at defiance all justice and good faith, in the violation of the 'sobligation of contracts" If they are sincere in that charge, what condition does 1t place them in, in regard to our State debtsi ask by what means do they propose to preserve the cred It oi the State in the payment of the S500,- UO0 ot the interest now due, and which they say Is dishonorable and dishonest to with hold from the Bond holders: My financial i skill points out to me, only three modes :: either farot'on upon the people--or enforc- Ing payment from the Bank debtors, or CT repudation. Dishonor on the one hand, or passive obedience to the mandates of the Bank on the other ask what efforts have the leaders and managers of the Real Estate Bank made to enforce the Bank debtors to pay the interest already dae? Iknow of but one distinguished effort made by the bank. few years ago. by hypothecating half aml- ion oi State bonds for Sl20,000, which were placed in the hands of notorious broker ill the city of New Orleans, to ssregulate'' the Arkansas Exchanges, by buying and selling, so that the discount should not fall 6eiow 20 per cent. A few more such efforts would place the Statc in condition to apply for the benefit Of the ''Rahrupt act.n would, therefore. most respectfully ask the Manager of the Real Estate Bank. (who Is the admit ted head and leader Of the whig party in this State) and not his strikers in the Bank or gan, who dodge the question, and stosp to low aud contemplible personality, in rela- non to bank debiors-evincing the maligai- ty oi the writer. and the size of the politician. "ish such, have not word 10 say--et their leaders and men of sense speak. Will you, Il your party succeed at the next State election, pay up the interest now due, byen- forcing payment from the bonk debfors--or. SIT, Is It your design to lev, far upon the people to pay that interest; leave the peo- pie to draw their own conclusions But do not understand sae as charging voa with design to liqlidate the interest and debt by taxation. though some are uncharitable enough to charge you with it-I do not-l have never supposed for moment that you would recommend either taxation or the