The Arkansas banner., 1848-05-23
ResIaimsl. Land ia Irknnsas.

Ths tOilOwingaan <. presented hy His Exesi-
 Ienev Gov. DHEvfOr rendsring the inundated lands
 ia this stais. shee ef bsseEt to tAe General gO-
 Ssrnment, and sthe means of Hquidaiing pOr-
 hon of our State bt This movement has been pro
 posed by the GovnOr as auxiliary to the action al-
 ready taken by Q members of Congress. We be-
 lieve it to b. pratcahe and every eitizea is in-
 terssted in its sees, we hope that the matter
 VII bs taken ap lth energy.
 10 As Ed.tOr .f BGan1:
 In contemplating our present embarrassed cen&on, on account of the establish
 meni. of two bsks, At an early period of our ex- is'ence as StaterhOse present exhibits. must sa- tisly al that the tate will ultimately have 10 foot the bsI-oF repodte her own bonds, lam induced by high eOnstdersons, foonded in justice and sound policy hope, s ibmit ihe following memorial for public eonstderath, and the action of the people l believe we shOld urge Congress to donate alter nate sections of the unsod public land subject 10 inundation lyinguPon all the rivers within tue State, upon eon4ion that tbe authorities of the State erect suficut leVies oa said rivers, to re- claim the same.
 The amount st5eet to overflow being 5.357 500 the haIOf all the remaining uosold land, which may be abot two and half millions of acres, when reclaimed vuld be considered low al an aver age of S3 per acr would produce 10 the State re- venue of $7, ,5o0O0--mueh less than one half of this sum would D, sufficient 10 erect the Ieves and pay the expenscs supeGiniealance, afording a margin surieent noi Oaiy to e1tinguish ti.e Stale debt contracted Sn account of the Banks. Lgt handsome sum to d in the general plan of Inter nal Improvements, which may hereafter be esiab- lished by the State legislature.
 The Memorial hng granted, and the land thus vested in the stats-means will readily present themselves to those cArged with is accomplishment to commence the wox.
 The policy of tho rxt Legislature, doubles. will point to the most sptdy termination of the present system of winding the Banks-a system, to all appearance proper nd which was thought would prove successful, wkn first adopted but which ex- perience has demostraied beyond question to be most ruinoGs to tasnterest of the Sta,e-for that, while the interest othe outstanding bonds against the State, amoln's nnually 10 nearly s2no, ,ooO- the entire collection by both Banks and all their branches does not nheir aggregate reach that sun; and of the amount collected, nothing has been received of propeEharacter 10 pay single dOl- lar of this interest fs the last five years: except the few bonds with the oPOns attached, that have been aken in payment o6aak debts and thus cancelled:
 As this State is sh,dcbtor to the general govern nent $500, ,ooo priripai, with corresponding In the shap4of interest. which will alto Ze,her make the sumof S650 ,Ooo-at or about this 'eriod. It will bc eaiily seen that the United States government NlI be yitAlly interested in ma Iing this apparent doniou in aid fthe extinguish nent of this debt: wiIR at the same tc1e fl will add O the value of the reGai1ing alternate government sections of swamp had, by giving it an unusual additional alue far beyond any suPpo-ed rant on her part iolhe State for in fact, So long $ 1t remains in is 5esent oTerhowed state II Is lnown to be almost htirely yalueless.
 The proposition, upon the terms d equality and air dealing betweenthe two parties, eonsttutsonal crupiss will be removed from the minds Of all; and while the general government is placing the means S,hin the grasp of the State--to pay her just ebt, and otherwlsesays her from Pecuniary ruin nd disgrace, she VII be otherwise highly benefit ed at the least pOss,le expense.
 These suggesdoosEilh the accompanying Memo ial respectfully submitted for the candid con- iteration of all, wta~the hope of eiciting an ex- ression of the preSof this Staie as well as iodi- Titusl opinion and a;ion.
 ~>< Respectfully,
 -> TIiOS. $. DREW.
 Executive Office, little Rock, May l7th ls+S.