Washington telegraph., 1852-11-17
GOVERNORS MESSAGE.

the importance of judicious legislation, and
returning thanks to the Giver of all good
for present prospects of abundant crops, the
Message continues
Before entering in detail upon the sub
jects which will necessarily be discussed in
this communication, it will not be amiss to
take cursory view of our past history
and present condition as State, to the end
that we may, in the light Of experience,
enter upon the examination of those mea-
sures demanded for present relief and fu-
ture prosperity.
Arkansas was admitted. as State, into
the Union in 1886, now sixteen years ago.
Her territory was large, and her population,
small in numbers and INDECENT in circum-
Stances possessed but few capabilities for
properly entering upon the task of selfgov-
ernment. Situated On the west of the great
Mississippi, beyond which the tide of emf
grafton had not then passed, and indeed
there was large tract of rinsubdued forest
intervening between her and the thickly set
tied States, to be settled up before she could
naturally expect to arrest the attention of
emigrants. and her soil become the restins
place of that mighty tide of human beings
which has ever been tending westward since
the history OF man was written during
which time, she had to remain in a state of
probation, anxiously waiting the coming of
the people, before commencing the work of
improvement. At this time she had but
little over fifty Thousand inhabitants, possess
sing but little enterprise, and less wealth !;
the latter making all aggregate of not more
than fifteen millions of dollars.
Thus lily prepared, Arkansas assumed
the robes of sovereignty, and became free
and Independent State, entitled to all the
privileges, and assuming all the responsible.
ties, devolving upon the oldest, most wealthy
and populous States IN the Union.
To meet the expenses necessarily incident
TO s State government, onerous taxes were
levied and collected from a people poorly
prepared to meet the demand.
just before, or about this time, the land
excitement had seized upon the minds of
the western people; and, indeed, pervaded
the community everywhere AS a conse-
quence of this, very large portion Of our
most valuable lands fell into the hands of
nonresident spectators; precluding their
purchase by actual settlers, and retarding Q
the settlement Of the country, the element
most desirable to new State.
At the same time, two Banks were char
tered by the Legislature; and, in order to
procure d capital fund, upon which to base
their operations, bonds to the amount of q
927 900 of dollars were sold, for the re-
demrtion of which, the faith of the State
was pledged. Thus heavy debt, With ac-
cumulating interest, was fastened upon the
State, during the first year of her existence.
The affairs of these institutions were in
trusted to the management of inexperienced
and unfaithful agents. Confusion, embar-
rassment, and disaster, were the Inevitable
consequences; and suspension of their busi-
ness resulted. And, taking into considera.
tion the history of the times the fact that
all the banking corporations of the south
and west had, at that time ur Immediately
thereafter, suspended specie payments, and
ceased to do business. it is very doubtful
whether widely different result were prac-
tlcable even under the most faithful and
skillful management. Then followed the
act of the Legislature, 6y which these banks
were placed in liquidation; and there is lit
tie doubt that, even then, their business
might hcve been wound up with but little
actual loss to the State, had not the ruinous
policy been adopted, of extending the time
of payment to those indebted, to the extra
ordinary period of ten years; thus allowing
all those who preferred emigration to the
payment of their just debts, time and op-
portunity to leave the State and carry off
their property, the greater portion of which,
IN many instances, was purchased with the
very money drawn from the banks.
But the injurious consequences of this,
to me, ever incomprchensible policy, did
not stop here. Both these banks remained
fully provided with officers, who collected
just about enough to pay their own salaries.
and in this condition have they remained
ever since; absorbing the assets of the
banks as fast as collected, in the payment
OF useless officers; and when the last dollar
shall have been wrung from the reluctant
debtor, then the State will be left to foot
the bill. and assume their liabilities This
should cease Better forgive the debtors
at once, and be done with the whole affair,
than longer endure the consequences of such
apollcy e.s -
Io this false step and continued false
management of these banks, may be attrib-
uted most of our misfortunes. Public con-
hdence was destroyed, emigrants were warn
ed away from our borders, by threatened
taxation, to pay debt which they had no
agency in creating. Our Legislators caught
tne Infection, became sectional in their
views, would not be convinced that Arkan-
eas could manage, with wisdom. any enter
prise, while under control of the State; and
the doctrine obtained that # was the dutv