The American. [volume] (Washington [D.C.]) 1857-1857, 1857-12-16
"A state where there are no Banks.

The Little Rock Demoract says that the Audi
tors Report shows that there is in the State Trea-
sury mtdrly tUo hundred thousand dollars in gold
and siiuer-more than enough to defray the ordi-
nary expenses Of the State for two years.
1t shows that there is in the Treasury, for the
purpose Of recaiming our swamp lands, more than
one hundred thousand dollars in goid and siyer
1t shows that, Of the States Indebtedness on
account Of the banks, there ha, been paid within
the last three years, ouer one million AID a half
Of dollars.
n We clip the foregoing from the organ in chief
of the Tennessee Democracy, which publishes it
with evident gusto Our contemporary does not
say so in so many words, but he plany means 10
hold up Arkansas as model State in its financial
aspect, which other commonwealth should initiate.
1t is "a State where there are no banks" says he,
and has in its Treasury NEARLY two hundred thou
sand dollars in gold and silver"-a huge sum for
State larger than New York or Pennsylvan to
possess, to be sure!
He doubtless designs holding up Arkansas rs a
fair specimen of State, with an exclusively hard
money currency; and in this respect we think him
correct. He and all other hard money ad yocate
editors are welcome to all the comfort and argu-
ments they can derive from it.
We breathe not word against the people Of
Arkansas. But truth demands the admission that
it is one OF the States that have been demagogue
the aristocracy" has been fierce and prolonged
Democracy has been the talismanic word that was
to work wonders; that was to make everybody
lich; make the mi.iing ore jingle from the TIRE
tops and bespangle the black, rich soil. What
was meant by it was little vague even to the
leaders, except that part Of it which related to the
public 'plunder." Of this they had a very clear
perception. The rank and file generally con-
cluded it meant down with rag money!" "down
al ,,at ~ ID 4 AZ u
"down with college larnin !" "down with manu-
facturers;" 'down with Nick Biddle;" and Gene
raj jackson forever!
Arkansas contaias a superficial area of more
than ffty-two thousand square miles, six thousand
more than New York, and FIVE thousand more
than Pennsylvania. What but good system of
internal Improvements, including a needful cur.
iency, schools, manufactures, railroads, etc., was
necessary to make her one Of the richest, most
populous, and consequently most powerful mem
bels of the Confedracy? Instead Of this, SHE had
in 1850 four inhabitants to th1lsquare mile, the
white population 100000, while her vast mineral
resources are wholly undeveloped. The large
body of land given to her by Congress for educa-
tional purposes when she was admitted into the
Union in 1885 has heen squsndered till it is dwn-
died down to insignifcance, and nothing has been
accomplished. But this is not all that very hard
money Democracy has done for Arkansas. She
has funded debt OF over three million OF dollars
the interest OF which, even is not paid model
gold and silver State, truly Arkansas has no
banks, exclaim sundry journals in chorus. We
believe the Indian Territory on tie west of it has
none. In fact the Indian tribes never had any
banks or manufactures, or colleges or tariff;
never drew bills of exchange, and never asked for
credit. Not they. In all these respects they
were, and such Of hem as remain still are, more
Democratic than even the fercest Democracy of
Arkansas.