Arkansas true Democrat., 1859-09-14
so much for the State Bank. The as

| enough to redeem all the State bonds issued to that bank. They are enough, if pru- dently managed; but if not, heavy debt, to be provided for by taxation, will fall upon the State. Here is the recommenda- tion of Gov. Conway on this subject:
 Notwithstanding the ample security to the State, it will require great caution and strict attention, under sound and just policy, to extinguish the debt by the pro- ceeds of the mortgaged lands, forced into market without unnecessarily expressing ] the stockholders. bv sacrificing, for the benefit of specuators, the mortgaged lands for less than the pro rata liability of the stockhoider who mortgaged them. To pro- 1 tect the interests of the State, the bondhol- ders and the stockholders, not a single mortgage should be foreclosed, whether the mortgaged land be held by individuals or the Real Estate Bank, until the State is prepared, with fund amply sufficient, and l placed under the control of some discreet ani prudent authority, to be used to pre- vent the lands, when sold. from being sac riticed; the stockholders from being robbed of the means of paying what the lands would more than satisfy; and to avoid the necessity of a tax upon the people, to pay debt brought upon the State by rashlv and without common prudence forcing the lands into market, and by their inevitable sacrifice, losing all the security which the State has, and leaving the debt unpaid It IS recommended that the present revenue io, la +ol =. .: I in two years, the State may have fund for the purpose indicated, and not suffer these valuable lands, when sold at public sale, to be sacrificed, and the State left in debt without any means, except from heavy taxation, to pay it. Without such provi- sion, spectators will reap a rich harvest the stockholders will suffer great loss, and the State will most certainly continue to bear the burden and stigma of debt which will be left unpaid"
 These mortgaged lands are sufficient to secure the State from the debt of the Real Estate Bank, if when they are sold they bring their full value. These lands are valued at Mree millions of dollor,, and they are richly worth it. They can, and they must be made to bring at least two millions of dollars-but to accomplish this, when they are put up for sale, the state should have some authority present, with the means, to force them up to their value- Otherwise combinations among bidders might be formed, to bid in those lands at a mere song, and thus leave the State with out the means, except by direct heaxy tax ation, to redeem and cancel the State bonds issued to the Real Estate Bank, for the redemption of which these lands, thus sac riiced, were morgaged. It is to prevent this calamity that Gov. Conway, always watchfa and prudent, desires q surplus of revenue in the treasury.
 We have just shown how necessary it is to the best interests of the State that, dur ing the next three four years, there should be ample funds in the treasury The pre- sent State tax is probably sufficient to pro- duce the necessary amount. and that tax is only oRe-sjsh of one per cent. To accom- pIish such result as the Governor pro- poSeS-to relieve the State entirely from all debt, on account of the two banks who would not, fora year or two, willingly pay so small tax?
 Mr. Hindman, in assailing Gov. Conway np of +b, h,pI-, l,. in the footsteps of the know nothings, who have been at the same thing for years past. Indeed, MT. Hindman is notoriously under the influence of Henry L. Bscoe, one of the late Trustees of the Real Estate Bank. MT Biscoe is his father-in- law, and directs him ill all of his war upon the Governor. Gov. Conway foresaw this war, though he did not expect it from member of the democratic party. It i, what he expected of Col. Biscoe but he could never have thought that Ar. Hinlman could be made the suppliant instrument in such a war
 In his message of 1851, the Governor thus speaks and warns the people,
 "The Executive i, fully aware from the history of the past, that public officer can seldom or never faithfully perform his du- ties to the public, against those controlling | and having in charge millions of assets of Q bank, without cnrountcring, through ! them and the presses. and individuals un- der their influence and control, all manner | of opposition. and often vindctive hostility | and abuse. The Executive Is also aware that the opposition, springng from such a source, iS active and un,iring, and that it | may often be the foundation. whilst other pIeteXtS are given for hostility to measures the best and most Salutarv for the public good. should it be thought that their adop- ton and establishment wonld yield any credit to the existing administration"
 It IS for the people to decide between Gov. Conway, in his efforts to wind up the banks, and Mir. Hindman, who, under the influence of Henry l.. Biscoe, one of the Trustees of the Real Estate Bank, is war ring upon the Governor. Mr. Biscoe is heavily indebted 10 the bank, and he is re- SlSIlIlS Ll1c pay ilitIJ Ol tildt tcDt. IleHcc his opposition to Gov. Conway's policy, and hence the disorganizing course of Mr. Biscoe's son-in-law, Thomas C. Hindman.
 Let the people ponder the facts we have here laid before them, and let them cons- der the motives that instigate this warupon the Governor.
 MT. Hindman's Speeches about the
 Johnsons.
 MT. Hindman, in his speeches, is making some grave charges against the ",john. sons" The Searcy Eagle says
 ''He charged them with dishonesty using s270,- GOO obtained from the State bank and specified the amount each one had drawn, etc
 Mr. Hindman asserts this charge, and leaves the people to believe that the money was dishonesty obtained and never paid back. The whole assertion is deception and falSehood.
 The amount the " ,Johnson's" borrowed of tha han Xya o TO n ot n hla inst now In as