Washington telegraph., 1852-11-17

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sas for one dollar. Suppose, however, th.t
we. fail in this. assume that our own re-
sources are amply sufficient to build this
road, if concentrated upon it, What. then,
are these resources? @
FiLst. che proceeds of the sale Of the
500. 900 acres of lands donated to the State
for this especial purpose. The law distrib-
uting it among the counties, should be re-
pealed, and the whole amount appropriated
to the construction of Rail Roads, as was
intended BY Congress- when the grant was
made. [ am not unaware that difference
of opinion exists upon this subject. If
however, it can be shown that the interests
of the counties themselves, in a pecuniary
point of view, will be advanced by its repeal.
all opposition must be withdrawn. sa.i
Our revenue is raised by an AID vaLorem
system of taxation, and the greater the
amount Of property in the State subject to
taxation, the smaller amount necessary to be
levied upon each citizen, to raise q given
sum. The current expenses of this State
demand q revenue of about 100000 per
annum. The taxable property upon which
this amount is to be raised, does not exceed
50.O00,OOO II, by the construction Of
Rail Roads, the same result follow here, that
have ever followed elsewhere--and, that
they will no sane man can doubt-the pro-
, perty now in the State will be increased in
value to double its present estimate and
more than double the amount of wealth will
find its way into the State. very soon after
it is know that Arkansas has gone to work
in good faith. So that, by the time the con-
templated roads shall have been completed.
the taxable property of the State may be fair
ly estimated at 200 900, 900, or four times its
present value. Now, by way Of illustration.
suppose there may be found some one coun-
ty in the State, which shall have remained
wholly without the influence of these, roads.
without increasing her wealth one dollar
What would be the amount of revenue re.
quired to be paid by her? Just one:fouy,h
the sum now paid She now pays $4,000
annually then she would be required to
pay but $500 The amount now received
by her. out of the Iternal Improvement fund.
does not exceed $500 per annum. and will
soon cease altogether. The amount reduced
in her taxes is $500. and the reduction
will still continue; difference of 81 900
yer annum will be the benefit resulting to
the country by the repeal Of, the law and the
construction of Rail Roads--double the
amount she now receives from the distribu-
ton t..r.
! If this be correct statement of the case, and
that it is there can be question, who can object
to the repeal of the Justly odious distribution law
and the appropriation of the fund to its legitimate
| object-Internal improvements
| The next sources IRON which material aid can
be expected for the construction OF Railroads, is
the large amout of lands which think will cer-
tainly be granted to the State for Railroad pur-
poses. The contemplated donations are muni6-
cent in their character and, the proceeds be pro-
perly administered, will afford large fund for
our operations Taken together with the balance
unexpended ofthe SOC, 300 acre donation, these pro-
ceeds will yield to the State fund but little short
! of 1900, 900. ~
The city of Memphis, little less interested in
the construction of Railroads, than those Of
Tennessee has offered to subscribe s5OO,O0O. Ar
kansas, in her corporate capacity, should subscribe
like amount. If it be objected that the State
has no money! and is hopeessly in debt, answer
her very indebtedness will afford her the basis Of
the means of obtaining the amount required Let
her debt be funded her outstanding bonds, for
which she is Justly liable amounting to some ST.
100000, be taken up and new ones issued In their
place, redeemable at some future PERIOD say 1890
! This arrangement am prepared to saw, can be
made on advantageous terms to the State, and an
additional sum of S5OO,OO0 or more obtained from
the present bonG-holders to be used in building
| Railroads and otherwise developing the resources
of the State. only providing for the paymen fthe
interest on the new bonds, as il may fall DUE
This last may easily be arranged, by appropriat-
ing the entire assets of both Banks amounting to
near 81 100000 to the payment of the interest up
| on the new bonds. as it accrues.
I 1a%c l., -
ty courts to levy tax upon the property in their
respective counties to be Subscribed stock in the
name the county, altar first submitting the ques-
tion to vote of the people thereof. Large sums
have been raised elsewhere, by this method, and
| am convinced such will be the case here. We
may put down S250,00O, as the sum raised from
this source. And still larger sum can be obtain
ed by private subscription; and subscriptions BY
those Railroad companies east of the Mississippi
dependent upon our roads to enhance the value of
their stock. By these MEANS we can have a fund
amply sufficient to complete in time, if properly
managed the three great roads proposed, and their
| branches. .s. f -. -
There can be no doubt that the st. Louis and
New Orleans road, although OF recent conception,
will very soon claim large share of public atten-
| ton; and surely its Importance to Arkansas can
only be second to the Central Railroad, and in its
immediate and local results not even to that
| Missouri has already commenced, and has now
under contract a considerable portion Of a Rail-
Road extending westward from St. Louis, and de-
signed to compete for the position of the Great
National Road to the Pacific. She proposes to
extend branch to the line dividing Missouri and
Arkansas provided we will carry it across our
territory, to unite with similar branch, emanat-
ing from the New Orleans and Opelousas road
west, also intended for the Pacific coast i9
If these States upon our northern and southern
boundaries, shall complete roads, from these two
| great and growing commercial points, to our
northern and southern boundaries surely Arkansas,
with the ample resources which have shown her
to possess will unite in this so much desired work
The construction of this road will afford facilitis
to the northern portion of the State which are %
much needed, as well as to the wealthy cotton,
/ growing counties of the south fhrounh uhich Il