The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-10-04
TIE ARKANSAS AFPA1E.
From the LONDON Times. JULY a., Is

FROM the London Times. July a. 1881
To TIE EDITOR OF TIE TInES:-
SRA letter from "a Boadholder," in the mo
ney article of the Tunes VI the 18th inst, throws
tome Ugh, on the Arkansas repudiaIon; bu; the
Bondholder omitted to add the names OF the his-
tees appointed eight years ago, with renluncte-
ton for their iaboTs-accordipg to Governor Drew 3
message--at the rate ut 5000 per annHn. MI.
Biscoe, Mr.. J. Drenner, Mr.. Faulkner, Nj. G.. Hin
they appointed one Pike, en- attorney, 10 condlc'
the business.
Will you allow me to imagine d.naer party.
consisting ct these i've gentlemen, with Pike for a
PRESIDENT and 10 report The todsts and remarks!
The cloth being removed, and grace sail,
MI PiKE gave "the heallhs OF the most patent
mud, and suffering bondhoiders IN eyis;eaee--;be
Arkansas creditors F" lie would venture 20 anrp,
that no other set Of men had been succssstui-
ly humbuRged for the period of eigh, long year.
and he had 10 doubt that he could still onjuut 20
evade ell demands, and keep che trustees IA the re-
cepon oil their salaries Tor atleast eigh years
10 come.
The toast WAS drunk with much spo,slsc Al
the conclusion Of the cheers,
Mr.. WALTERS rose, and gave "ihe health Of tn
Governor Of Arkansas, and long life to him
Mr.. BrscoH responded 10 the toast, as the Go
vernon was n friend Of his. and also OF The com
Pany's. !" IL ia true, card Mr. Biscoe, {" the Stale
is responsible for this debt, and that !, wle in ,he
power OF the Governor to enforce the realization Of
The mortgages, stock notes, &c, by which al III.
creditors might have been paid eight yeSrs ago
But Il must be obvious 20 the company that any
such liquidation (athossh they were especially
appointed Tor that purpos.) would be a great los.
To The State inasmuch that, II they continued re-
ceivipg the interest on the mortgages and stcck
notet and rc.nvesiing II, IL wae quite obvious In
4 few years, the bondholders could BE- repaid their
capital from the accumulated Interest. aad the
creditors would be glad enough 10 get back what
they had advanced. As the Governor did not en-
force the liquidation, he was obviously the be-r
friend OF the trustees and the State
MI. FAULKNER gave "Our worthy s.ives," 10
which
MIR. IinI. remarked tina, "chari,y beean AZ
home;" that he had read with much interest the
report OF Governor Drew, who Indignantly refused
10 counienance Reputation, and who declared b.
would uphold the honor Of the state. I, was evil
De nj the case could not be in better haads and h
proposed to continue in the course they had fol-
lowed.
Mr. DRrsSrR felt IL his duty 10 oFe, few r..
marks. They had enjoy led haadsonc salary, IL
was true; but he had passed many sleeyles4 night
IN pcndering over the best way TO avoid reridia.
uon-snd TO keep his salary Boniholdcrs were
very foolish people; they expected TO b. paid rs II
The money was 10 be picked up like California gold
II required long time TO investigate claims AMI
his learned friend, MIR. Pike, agreed with hin in
the advantage Of the lave delays. IN conclusion
be- would add, that no etar Of the States was NOR,
unspoited than that which designated Arkansas;
that the honor, integrity. and hoQes.y of the State
was entrusted 10 them; and he proposed not TO lee
II pass into the hands of thoes who miga advocate
Reputation on the one hand, or BE- too incautious
~ hasty liquidation on the other.
At-the conclusion OF this speech, the different
genile men shock bebde with much cordi Atty. Gni
agreed to meet again next quarter day; M. PIKE
that he thought every man ia debt must
have credit, and that therefore Arkansas and the
trustees were eniilledt to every credit.
vrcrN