Washington telegraph., 1850-11-13

ANU were IL supiiit'eu 10, It's inevi,,h
tendency would be to drive everv nv. Oe
properly from the State, and deter ,,,u ~. O'
from iinmigratlng to 1t, leaving the sn oo.
clusion irresistible that, in short M: H,
Of time, the State would be deponn,,"Su
the wealth now here would leave ne
for ever preclude the possibility of benny ius
enabled to pay this debt. | have b,s.S
this calculation upon amounts in some y
stances assumed. as in the case os -
Real Estate Bank; and the value of
erty in she State, for convenience ~
stated at 80, 100000, when, in fact !, =
under ihat amount. All these amouD,s,
are sufficiently accurate, however e..
practice! purposes. have made No ~.
lowance for the probable increase :,
property in the State for the next twsU
ty years, because | apprehend the exnon
ses of the State will keep pace with IN.
increase OF revenue under the prason.
levy.
This is dark and gloomy picture "a
our pecuniary condition; an unenviabla
position 10 assign the State-ihat S,,,o
too, with whose honor and prosperity :
identified every earthly aspiration Of r,,.
soul; upon whose fair name Iepep5,
whatever of reputation and character
may have won for myself, by life sper,
upon her soil and III her servrce. I 70.
peat, it is gloomy picture, which ador5s
me no pleasure 10 contemplate; and has
permitted a convection of my duty 70,
give way TO my private feelings and
State prlde, | should have passed these
unpleasant truths by in silence, leay,Dc
TO those who shall succeed me. the m.
pleasant gask which | have attempted n
perform. Our public fuuctouares have
too long shrunk from responsibility act.
lug upon the principle that sufficient
unto the day are the evils thereof" The
time has arrived in the history ofo our affair,
when unpleasant results are to be made
known, aad misfortuues are to be looked
in the face.
This exhibition of our true condiuon
/ have deemed myself called upon to
make. by every principle of good faith
| which should govern pnblic iuncliona.
| ry. lave attempted 10 state the facts
connected with our Indebtedness, our in.
ability to pay the debt, and the opinion
of the community touching its business,
and their disposition 10 pay, i'll PLAIN
and concise manner.
We are in debt, we acknowledge the
| iustuess oil the liability, and frankly say
we are unable TO pay; and whatever steps
may be taken upon the subject, must be
| laC, q, ,,,,ara l.,n;.l.t,nn
In point of natural advantages, we
stand uurlvalled by any State or nation
on earth. Our climate is pleasant aud
healthy, oar soil unsurpassed in fertility,
and adapted TO the growth of those pro-.
! ductions in which consist a nations
wealth. by their happy diversity, We
| are enabled, in one section, TO rear abun-
| dant crops of corn, wheat, aud )ther de-
scriptlons of grain; while, IN the south,
we have before MS wide fields OF the
great southern staple, as superior III quail
ity as it is prolific in its growth. And II
is only stating, what is universally con-
ceded 10y al Well informed upon the sub
| lect, that 60 country o !ers greater advan-
tages to the farmer aud planter than Ar
kansas Gar entire border is washed by
| the great Father of Waters; while, at
suitable aud convenient distances, The
whole State is intersected by navigahle
streams, bringing .he advantages OF com
merce and navigation to the very do1r-
Steps Of every man. In conjunction
with these great natural advantages, the
! daily develaping mineral wealth oi the
State opens prospect inviting TO caP-
! tali>ts aud euterprizing men, ana mus
soon be a source of substantial wealth
aud Increasing population. The inves''
cations made have yielded results Tar eN-
! ceeding the sal.guine expectations oi 'ile
m bst crednlous. Extensive mines, OF boih
lead and ircn ore, have been dsscovefea
in various portious Of the State equai'inS
in richness any discoveries OF sihilat
character; ia many Instances, so iaVofa'
bly, located, with regard TO navigation
and faciltie- for working them, as "
give them peculiar value. Large dePos-
its of slate of the finest quality, nave
been discovered on the Ouachita rVer'
and elsewhere, throughout the southern
MARI of the State, and are now being
worked with GREAT profit to the enter?rI'
zinn individual who has made the hf>'
experinent in the manufacture oil 'ns
production ia this State. Marble Sra"'
ite, and other formations have been us,
covered, which may be rendered use,"'
for building and other purposes. iF'''
of biluminous coal may be iound "Po"
the very banks Of our prnciPai il.eI,
their extent need but TO be ascei'"'''''
to render them here, as they nave e'e'
been elsewhere, a source OF Srea' ie'e,
nue.. BY the proper development .,
these natural elements of prosperity anu
wealth, what is TO prevent us, IN e"
years, from taking our position side W
side with lie leading States OIL TIC
Union! o..
1t has been shown that our climate %