The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-11-30

sss the balance win show Tor what amount ~ stsss
will ultimately Nsna responsfels, and for which tbs
charter This calculation should be made however. az
ter making due allow ance for all bad and uncertain
The total number of acres mortgaGed by subscribers
for stock il 1871 $40 s9-l00 the appraised valuation
amounted to So sso77a SO. which was believed high at
the time The estimated depreciation IL 81 ,365 2l2
leaving responsibility resting lands under mortgage
of something oyer TIVE millions.
or the bonds sold on account Of tho State Bank
amounting to il76, there have been returned and "a
redeemed by the bank leaving outstanding Is7-lSo Of
the unpaid coupons due thereon up to the soth Sept
$40 make the Of 3675 The remaining 997 bonds
n sna on % 90
and interest on bonds sold on account OF State psnk
The annual sccruing interest ON the principal of
sli47 900, s <67 $40 Thus il will be seen at glance
that apart from the liabilities Of the State on account Of
men the state stands responsible and has assumed in
the most solemn (by pedging her aifh and credit
enormous sum Of So with the accumuaei
amount Of interest Of ss47 SOL making the grand
total of SO 227 5o-wih an annual accruing interest
of Sl6l go 10.
To meet the bonds and interest on account Of tho state
Bark that Institution reports bills and notes anu sup
posed interest thereon to the amount of So
Reol Estae Bank psper; and other $205 sos &c.
aud Real Estate Bsnkins Houses sos 0s4 S. making
sum Of sls7s SEQ os from which may be deducted the
uncertain bills and notes SIS sos SO account of
certain monev and $4,000 ~ account ofdeprecison
Banking houses. and $lIs2l2 So being the amount of
circulation leaving the probable productive
the Judgments sgsns the bank and the salaries Of bank
officers will continue unpaid by the Treasury there is
stu pslpshle deficiency to be met by the State, Of
evad to be a larger In amount than have
to fear from loss the part Of the Real Estate Bank
Without laying claim to financial talents of high or
der am constraiped 10 presentto respectful
sder,ticn scheme Of finance, simple but well suited
think both to the immediate necessities of the State
OF property made tsxsbe by present laws
By :. Il. for
number Of years Onseghh Of one per cent upon this
sing the ,um q a. corresponding to which for
the same period the expenditures although much under
those Of other two Of the las. eight in the Sc
res amount to about $l07 al n, exhibiting deficit OF
Ss6,sos IS for ls4546 There individual judgments
BOW existing against the State Bank for something like
the treasury and the further SUN Of at least $4,000
viii b required for rebuilding the psnitentiary II paid
these two will fell due within lsa7s which with
the outstanding treasury notes amounting to S37 49,
next wears current, will make the enormous sum Of
$l72779 %. To meet this, 1t will be necessary
5 upon aed 0 ysO
ornamental well useful in all our towns and cdes.
as we'll 81 In the country improvements confirmed
land, and embracing likewise incomes and salaries,
which it may be found necessary to subject to fair
proportion of Taxation BY these means an additional
the present amount Of $40 600 oOo making $50 o0O
which at rate Of oneourth of per cent will pro.
duce the sum Of SIS 900 annually, or $4,000 In two
years. a sum much greater than that of ls45-s end
nearly equal to the actual expenditures of the years
1884
II Il about time some financial system adopted by
the Legislature of Arkansas calculated to furnish su
cient revenue to meet the expenditures Of the State
The public debt is small compared with that Of several
ofhe other western States and ito ample,
with judicons system Of taxation to produce an in
large enough for every expense Of the govern
The system and rate of taxation recommended by
the executive sufficient to meet all the exigsncss of
the State treasury, and trust the Legislature will Sc
cond him in his efforts redeem the credit of the State
from the odium which Is attached to it. We trust
that the interest On the entire debt of Arkansas will be
provided for and that every attempt to repudiate the
first fraction will be disposed Of as it deservss