The true Democrat., 1856-01-01

broker or capitalist, ever entertained serious idea of purchasing them at fair rates for good securities, no business man believes.
 The foregoing suggests matter for considera ton of the gravest import to our city, particu larly as the city council, as most of you know, had been fully informed upon this subject, through some of the opposing tax payers, and appealed to from quarters entitled to such con- sideration, as they would not in common fair ness be at liberty to disregard, to defer (if they would do nothing more) the collection of the railroad tax, until after the city bonds were issued, and sold, to all of which they have coolly turned deaf ear, thus leaving them without a single excuse in extenuation of their municipal acts in that relation.
 Uninhuenced by the scruples of conscience, the president of the Memphis company, wrote a letter from Memphis in the latter part of Sep tember last, to one of our aldermen, in which he stated as we are informed by general rumor, that he had then just returned from New York, that before he left, he had purchased as many iron rails as the company could lay down, which he supposed was then in New Orleans that he had sold no bonds, but had left them in New York for negotiation, with Messrs. Moran Brothers. Aware from past exprience, that this was designed to facilitate the collection of the railroad tax, and the emission of the city bonds and being pecuniarially, deeply interested in the matter, l wrote to these gentlemen letter, | tn ho info oJ of tba of iron rails purchased, and if the Memphis bonds had been left with them for negotiation. Their answer Is an explicit contradiction of president Williamson's letter, so far as referred to above They say, that they are entirely unacquainted with MT. Williamson's operations, alluded to in my letter. But that he stated to them when there, that he would appoint them agents of his company, to negotiate their mortgage bonds to be thereafter issued.
 | intend no reflection upon the citizens of Memphis generally, having assurance that the more intelligent and influential portion dsavow any connection with this railroad scheme, or favoring it in any way, while in present hands. 1 1 know that many good men (some of whom have not given the subject sufficient attention to be correctly informed in regard to iD differ with me on this question of taxation and the unsoundness of that company, many with the best intentions some of them have told me so, and do not question their motives, but from this it does not follow as a consequence, that my positions are untenable; certainly not, unless they can be refuted by facts and arguments from them. They may be denied by some, who are perhaps more selfish and visionary than others, but that will avail nothing sufficient to overthrow what has been thus fairly presented; not to disparaso any one, but to expose error, vindicate truth, and disabuse the public mind of the errors it has fallen into, so that justice may be done to all parties.
 Although this recital embraces but frag- ment of the many disingenuous contravances, originated and practsed to hood-wnk and over-rcach you, it contains more than enough to convince even the most skeptical, that the whole affair, from its inception to the present time, has been tainted with bad faith, if not fraud, and that it justly merits the disapproba- ton of all good men, who possess the moral tirmness to declare their sentiments-a glaring outrage upon the peace, prosperity and well fare of Arkansas.
 At the risk of being considered tedious have extended this subject thus far, in order to be able to present to the intelligent mind, suf- 6clent to awaken spirit of enquiry into the whole matter, and because my views in regard to 1t have been misunderstood by some, and mlsinterpeted by others.
 ROSWELL BEEBE, for himself and
 others, taxpayers in the city of
 Little Rock, Ark. | Ja71lLnyu l. 1856