The true Democrat., 1856-07-01


 Bank, was appointed by the Chancellor on ,bo 2Oth day ot April, 1855. By information oL tained from the Receiver of the Real Esto,. Bank, il appears that the whole amount nr bonds of this state and interest on them c,I lected by the trustees and officers of this barL from the time they took charge of it to tt first day of May, 1854, when the the bill in chancery was filed against them, was S487 o5o US, but not one of these bonds was canceuoa and surrendered to the authorities of the st,,a by the trustees and officers of the bank h,,, on the contrary, 1t appears that they sold arI disposed of, and put again in circulation nn., I of these bonds, amounting with interest to tL. sum of Sl33,913 63, which deducted lef, ,L sum of S354, IA 45, in bonds and interest ooI lected by the trustees and officers of the Ro,I Estate Bank in the twelve years and twon.' eight days, ending with the Both day of An,l 1854. When, on the 2Oth day of April l8ss9 decree was rendered by the chancery col,', dlvesting the trustees and officers of the R,J Estate Bank of the assets of that nstitni.1 and receiver appointed, the court made sn,r able orders requiring the receiver tc cancel orI deliver to the state treasurer, not only the Po,1 Estate Bank bonds then on hand but aIso aT which might afterwards be received ar t,L" up by the receiver. This policy of bav;n.' the bonds cancelled and delivered nm to .i5 state treasurer 1 recommended in my s.,' message to the General Assembly on tb. 27th of November, 1852, and it has been cstaL aL' lished by means of the chancery suit wb;T had brought as required by the act of I5,t January, 1853.
 Whenever state bond is received by tb. Receiver of the bank and cancelled and fIaI wi ba Stato state debt is fully paid and the interest ceaso' made by the state Treasurer it appears tb,. from the 30th day of September 1851 to tb. 4th day of June 1856, the sum of one q7jBjo, thirty teoo housand, three huadrea and tosnh. seven dollars and three cents, in Arkansas stats bonds and interest had been cancelled and 6IaI in our Treasury as fully paid.off
 With regard to the suit against the Real Fx tate Bank, in my message to the General As. sembly, on the 7th day of November, 1854 stated, that the executive is fully aware, from the history of the past, that public officer can seldom or never faithfully perform his duties to the public, against those controlling and having in charge millions of assets of a bank without encounteling, through them and the presses and individuals under their influence and control, all manner of opposition, and ofte. vlndictive hostility and abuse; and that the on. position springing from such source Is active and untring, and that 1t may often be the foundation, whilst other pretexts are given, for hostility to measures, the best and most salu. tary for the public good. Notwithstanding all this, as servant of the people, and to protec. them from heavy taxation, have, in the ds charge of my sworn duty, but against most powerful combination of interested individuals endeavored faithfully to execute the laws On the subject of the Real Estate Bank. Whs the most bitter and vindictive abuse and de. nunciatlOns have been and are being almost continually heaped upon me, as if to punish me for honestly executing laws passed to er. quire after two millions and nearly half of assets of the Real Estate Bank, and have them accounted for and faithfully applied towards paying off the State debt, 1 have. with as much torhtude as l could command, borne it a.. and never suffered myself to be diverted from the line of my duty to the people of the State
 If the time has arrived in Arkansas whels powerful bank combination can control the pel- pie by artfut devices, systematic abuse deuur. citations and Plisrepresentations of an officer who faithfully discharges his duty, and protecs the interests of the State and people l am much mistaken. 1 rely on the virtue, inte.H. gence and honesty of the freemeu of Arkansas and feel confident that l shall be overwhelr. 1 lnSly sustained; and that this bank combra. Llon, under whatever deceptive banner 1t may wage its political warfare, will find many hon. est men descrting their ranks-repudiatng the bank, and by their votes testifying that they duly appreciate what l have done towards ex- tlnguiShing the state debt and restoring the tar. nished honor of the state.
 The people of the state are much indebted to the patriotic members ofthe General Assem. ply, who, at the last session, cordially co-op.. rated with me in adopting sound policy and enactlng laws essential to protect the state from beng plundered and bankrupted, and to enable the executive to accomplish what has already been done towards leSseuing the state debt.- The line of policy adopted, works we'll, and we ought not to depart from it, for the banks should be required, as far as possible, to pay their OWL debts The constitution of this state, in sec. ton two, under the head Revenue" pro. vldes, "1 bet no other or greater amount of yeu3- '1ue shall at any time be leu.ei than re9utrei TOT the necessary expenses of the goveJ7meat lmies3 6y C concurrence of ttco-thiris 0t 6oth houses q hbe General, Assembly" This is wise and u. dlclous provision, which will shield the people of the whole state from exhorbtant taxation With prudence and economy in conducting the affairs of the state, the revenue under the act winch 1 approved on the 11th Jauuary 1853, has been sufficient to defray the ordml. " expenses of the state; pay for building large and substantial stone wall around the penItentiary; pay for building capaclous and excellent slate-covered brick building io. workshops at the pententiary; and also to rt. deem all the out standing state scrip, and leave in the treasury subject to be used for orLuar expenses of the state, upwards of one hundred and fifty thousand dollars in gold and silver For more than fifteen years the expenses ot our state had been paid almost entirely in j5- preclatad bank paper or depreciated state scrp. but now we have gotten rid of both; and all the expenses of the state are paid in gold aal silver, and l hope we shall never, again, h. VolVe the state Ill debt, so as to make it necss. Sary to issue scrip to pay ordinary eXpeu,e, With sound policy and proper economy we ca and ought to adhere to the constitutional cui. rency of gold and silver. Fellow -cltlzenS by the generous confidence of the democratic party, 1 have been placed before you as a candidate for re- election to the office of governor of the state of Arkansas, Since have held the office it has been my earnest desire and constant endeavor so to aI- minister the government as to restore the lost credit of the state, drive out of use depreca ted paper, supply our treasury with the cons', tuuonaI currency of gold and silver faithful! execute the laws, protect the interests Of ta' state, promote the public good and mea. your approbatiOn. am willing to be judge by my official acts. The records speak for themselves. If you think have done my duty as your servant, feel confident that yo- will sustain and re-elect me. You are my judges and am glad of it, and shall cheeriu.F abide by your majestic will. ] 1 have the honor to be, Your fellow-citizen,
 ELIAS N. CONWAY.
 Little Rock, Ark., 18th June, 1856. Black Republican Convention.