New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-05-02
Arkansnx-its Finances. Prospects, etc.


eres, to certain Of your readers to learn what is the
pecuniary condition Of this miserable, Loco-Foco-
ridden State.
We entered the Union in June, 1885, with popu-
aton Of less than 5000, and have now popula-
ton of less than 100000, Of whom some 10000
are voters.
The State issued for the State Bank $50 bonds
of one thousand dollars each, OF which !, l46 have
been sold, making her in debt, for principal,
Il46. coo. the interest on which IL So, 300 She
issued for the Real Estate Bank 2,U39 bonds, Of
which | $50 have been sold, making farther debt
of 81 $50 600, on which the interest ls SCI SO
Besides this, 500 bonds have been hypothecated,
on which II Is claimed that over S3tO, 0OO due, with
inleres, for about four years.
On these bonds interest has been paid since
January, 1872 Consequently, there is now due Tor
interest over $4,000.
Now let us look at the domestic economy OF
the State and her means Of paying this debt. The
Banks be il remembered, are insolvent Their
capital is all gone The State Bank has not dol
lar in specie the Legislature having taken IL every
cent 10 pay themselves and the State Officers
withal: and the Real Estate Bank has some
SIS 600 in specie Both are in liquidation, having
an enormous amount OF bad debts 10 show Tor
their Capital.
The receipts into the Treasury, from Taxes, and
the ordinary sources OF revenue, since Sept. T.
1896, have been as follows;
From 18th Sept 1886 10 LIST Nov. '37..... Ss5.95o 90
From ST Nov 1887 TO 31th Sept. 3s- 36,s4 81
From Isl Oct. '3s TO 80 Sept. i0........ $3.50 ss
From Oct. 40 10 30th sept a. Gl599 0S
From LIST Oct - 10 Both sept. IT. 49.649 %
Total receipts from those sources,.... s242,7'4 gs
The expenditures during the some period were as
follows:
From Isl Sept 1886 to lst Nov. 81. $3.50 9s
Freiu lst Nov. 81 TO 30ih Sept. '3S. 65lH 46
From lst Oct. 3S to Both Sept. 40..-... l039S3 Go
From st Oct 40 10 Both Sept. o. lG9,s22 65
From LIST Oct. AZ TO 3O;h Sept, Ill.,. l6iii3 %
Total Of expenditures 54ssi6 so
2;9.T54 9s
Excess Of expenditures over receipt, s5O6 l6 81
Tue last Legislature utterly refused TO increase
the taxes and pass law providing that they should
be paid in nothing but Specie Treasury Warrants,
thus direc repudiatng the Paper OF their Treasury
Bank The consequence OF thls-as their law Is
clearly unconsltuonal--wlll probably be 10 stop
the collection OF Revenue almost altogether. One
thing is certain: the expenditures for the next two
years must, always heretofore, double the re-
ceipts
Besides the Capital for the State Bank, raised by
sale of Bonds. other moneys nave been received by
the State, placed in the Bank part OF her Capital,
and loaned out, 10 wit:
Surplus revenue and dividends thereon due by the
Bauk $685. ia IS
Five per cent fund and dividends. 6s777 20
saline fund and dividends ISL 81
Common school fund. -----.---------.---.- l'39i II
Total. s4i2,a36 Os
All these moneys are gone. Not dollar is left
The State Bank is left pennlless, with deb; OF
some ten millions due her, worth, al the very
utmost, not more than 30 cents ON the dollar.
The Real Estate Bank Is IN somewhat better con-
dition, because her debts are principally secured
by mortgages of land by which, II debtors can
pay on bonds nj about SO cents on the dollar, or
persons desiring TO purchase the lands can buy
bonds at that rate, wherewith 10 pay Tor them, She
NAV come ont something near even.
Our baj-hke politicians here OF the Loco foco
sripe were all Jealous for an Annexation OF Texas,
by which, for twenty wears, all emigration Will be
diverted from Arkansas, and large part OF our pre-
sen, popuato on drawn away. No man dGTfS 10 IN.
fer our Legislature Halls, and vote for all increase
of Taxes and any man who will avow himself in
favor of paying the State Bonds by taxation may
as well make up his mind 10 remain for life, IN the
shades OF retirement.
In word, our people ere bankrupt and our
State is bankrupt. There is no true Stale pride
and If there were there are no means Of paying
with debt accommodating on her head by the accru-
ing Of interest and the excess OF expenditures over
receipts the State must plunge from bad 10 wore,
and without radical change IN her whole system,
she will soon find II impossible even 10 keep the
wheels of her Government gong.
Perhaps Your readers can row see what prospect
there is of the Arkansas Bonds being paid. One
.bns thev NAV RELY on every word have written
is strictly and literally tue and know all about
the matter as 10 which am writing.
Yours. &c ONE WHO KNOWS.
SoLplERLY AltuslENrS.-1'h Baion Rouge Ga
,s,s nj be IQth ult gives the following interest