The true Democrat., 1855-07-03
For the True Democrat.

For the True Democrat.
 MR. JoHNsoN--Dear Sr: In your last issue l read a communication, signed by R. Beebe, and aldermen of the city of Little Rock. l trust these gentlemen will seriously take into consideration the whole matter, before issuing the city bonds. Mir. Beebe, in his letter, states that a large portion of the voters were deceiv- ed by msrepresentations. This is now well known fact. The undersigned an old citizen and tax payer, voted for the tax, being informed by those who ought to have known, the $1Oo,- GOO would only be issued for specific purpose, to wit: the grading or buying of iron for the road between this and Brownsville, and that the bonds were to be so guarded that when thrown into market they could or should not be sold for less than fair value
 The citizens of Little Rock have no inclna- tion to pay dollar when they only receive 25 or 40 cents-which is probably as much as our bonds would bring if thrown hastily among the Wall street brokers. Our past experience has shown us the unproftableness of all such transactions.
 Further it was argued the bonds would only be issued when the work had fairly commenced. Gentlemen stated it was not so much the one hundred thousand dollars that was wanted, as public showing to eastern capitalists that the will and wish of the people was for railroad. If the amount to be subscribed by the city is for the above purpose, why object to the bonds being so guarded, that, upon failure of the con- pany to build the road, the bonds should be void? One hundred thousand dollars may be but a small amount towards building railroad. At the same time, in case of failure, it is enough to ruin our city.
 Sir 1 am in common with many other citi zens, disposed to be liberal towards this or any other practical plan of internal improvements; yet have always been taught justice and hon. esty stood before liberality. Some persons may argue, the bonds so restricted could not be sold. We'll, sir, say better the bonds should not be sold, than the credit of our city lost for 1t IS an admitted fact, that if the bonds are issued, and the company fails to build the road, we will be unable to pay This being the case, why not candidly state, upon the face of the bonds the conditions and purposes for which they were issued, and upon the faithful fulfil ment of the same only will they be paid.
 1twas avowed, the tax was to be levied when the work was progressing and the bonds issued and negotiated-the whole of which was false for the work, as far as my information extends, IS not commenced, beyond the throwing up of a few spadesful of dirt somewhere opposite Memphis The bonds are not ssued-no in- terest has accrued-yet the gather is now, with his big book and printed recepts, COL LECTING THE RAILROAD TAX of one hay cf one per cent on all real estate, personal property, imports, and all goods and cha.tes of whatever name of nature; for if there is any thing in Little Rock not taxed would like to know what it is. The tax, however, we are willing to bear if they show us we are to have value received.
 Before the meeting of the Legislature, it was positively stated, by the interested oncs-give us the grant of lands, and in two years we will build your railroad. Well they got the grant Do they go on building the road? No, but came to our impoverished city and ask for one Hundred Mousand dollWs No sooner do they see chance of obtaining this than the county must be stirred up for Sl0O,OOO more. This seems to me to be acting in bad faith If it was necessary for the company to have assist ance of the counties towns and villages along the route as we'll as the grant of lands, why not have said so at the start?
 | am unwilling to force myself upon public notice. 1tis more congenial to my feelings to remain in the privacy of my private character but in matters of this kind, 1t becomes duty we owe our fellow citizens and ourselves tc draw truths to light. Still l should not have intruded myself had I not heard it asserted that Mr. Beebe was the only one against the present issuing of the city bonds This is mistake. Sir, there are many against at, who voted for the tax. The second sober thought has come. The taxpayer wants to know what guarantee there is that the road will be built, when his money is paid. The money is now called for-the assurance is not given
 J. H. R.
 Letter from Fayetteville.
 .D.