Washington telegraph., 1856-11-12
THE GOVERNORS MESSAGE.

cOntainS UOVernOr CONWAY ucSSdSc u
the Legislature, which convened in Little
Rock on the Sd inst. Governor CONWAY
spoints with pleasure to the increasing
prosperity of the State" and hopes the
lawmakers will take such measures as
will ''protect and promote a policy which
will gradually ensure the extinguishment
of the public debt and restore the tarnlsh-
ed honor of the State to Its original
brightness and lustre"
His Excellenoy warns the Legislature
against certain s'interested sources" from
which elements of opposition to the in
terests of the State may arise" and hopes
they will not be permitted "to interfere
with their united and harmonious action
in accomplishing good for the State.
The Legislature is notified that on the
first day of October, 1856, ''there remain
ed in the Treasury subject to be used for
the ordinary expenses Of the State the
sum of one hundred and forty-two thou
sand one hundred and fifty-four dollars and
twenty-five cents, IN goM and sUrer,"
and further informs them that s'all of the
Arkansas Treasury Warrants ever issued
had been redeemed, except one hundred
and ninety eight dollars not presented for
payment ~
The whole amount of the Internal I'M
provement fund, distributed to and drawn
by the several counties before the first day
OF October, 1856, was S300,6l5 50 and
on that day balance of this fund remain
ed in the Treasury, in specie, amountia 9
to SL4 ,Ui3 50.
| The entire amount of the Seminary
fund distributed to and drawn by the sew
eral counties, before the first day of Octo-
Der, 1856, was. S4S 224 90; and on that
day balance OF this fund, in specie, re-
manned in the Treasury, amounting to S..
41174.
The whole amount of the Saline fund
distributed to and drawn by the several
counties, before the first day Of October
1886, was SI,727 IL and balance OF
this fund, in specie, remained in the
Treasury, on that day, amounting to So :
/ $40 %.
The Seminary and Saline funds are ap-
propriated, by law, for the benefit of con-
mon schools.
The amount of redeemed Arkansas
Treasury warrants, in the State Treasury
on the first day of October, 1856, was S297 ;.
643 II, and the amount of old State scrip
$50. These should be registered and
burned; and in enacting a law providing
for registering and burning the notes o
the State Bank, these ] reasury warrants
and the old State scrip should be embrac
ed
The condition of the Penitentiary is SCI
forth, and certain Improvements in thai
behalf recommended
After setting forth the condition of the
Bank of the State cf Arkansas, Gov Con
way says:
By the sale Of State bonds, the capita
of the bank was obtained. BY the terms
of the charter the bank was bound to pa,
the interest on the bonds sold, and also t,
pay the bonds when due. To meet thes;
liabilities the assets of the bank were ap
propriated, for the State had none bu
the faith and credit of the State wer,
pledged for the payment of the interest
and bonds when due To this extent tn,
honor of the State was conhded to tn.
keeping of the bank of the State of Ar
kansas. The bank soon failed and tar
nished the honor of the State, by leavin.
the interest due upon the bonds unpaid
In January, 1913, the General Assembly
passed an act to place the bank in liquid;,
ton. Since then, more than thirteen
years have elapsed, and it is Represented
tliat the affairs of the bank are now s,
complicated that they cauGot be under
stood, and the whole of the assets ascer
tanned, without much labor and thorou.!
nvestiyation. On the 3lst August, 1904
john VI. Ross, who had been Einancia
Receiver of the bank for several years
died; and seems to have let the busines.
in great confusion. and the books OF the
bank without the necessary entries to show
his official transactions. For such infor
nation as the present Receiver Was abb,
to give about the condition of the bank
and embracing his own transactions, your
attention is invited to his report
And apologizing for failure to presea
the true condition of the Bank to the leg
islature, says:
So believing, the Executive contempla
ted being able to lay before you such Il re
port, at an early period after the com.nence
nent OF this session of the General As
sembly; for he expected to have had tw,
accountants, instead of one, engaged i.
:, the investigation.
The policy oi the Executive is to have
the true condition and means of the bank
of the State of Arkansas ascertained auC
reported, and the assets collected, as far as
possible, and every dollar faithfully ap
piled towards paying the debt of the bank
Is absolutely necessary; and he has di
rected that it be prosecuted until compile
ted.
After ascertaining the true condition oi
the bank, 1T Is recommended that all the