Arkansas true Democrat., 1859-09-21
The Now Bank Chamnion


 Gen. James Yell used, few years since, SC constantly to harp upon. He has espous- ed the cause of the bank, and is now its champion. In a very short time, when the State throws the lands into market which were mortgaged to her by the stockholders of the Real Estate Bank to protect henfrom loss on account of her bonds issued to and sold by that Bank, there will doubtless be other champions in the field, but at present MT. Hindman Is the pioneer. Having a considerable interest at stake, as the son-in- law of one of the trustees whoi is largely in- debted to the Bank, it has fallen upon him to feel the public pulse and to open the way.
 The contest now between the State and the Bank party will be over the lands mort gagged by the stockholders of the Real Estate Bank to the State to protect her from the | payment of the bonds she issued to that Bank. The State will put these lands into market and endeavor to make them produce enough money to redeem all the State bonds issued to the Real Estate Bank that shall be left outstanding and unredeemed after the assets of that Bank are exhausted; and the Real Estate Bank party, land specula- tors and land jobbers will endeavor to buy them in for mere song and thus throw the debt of the Bank upon the State.
 The first contest was over the assets of l the Real Estate Bank. The assets were in the hands of the bank party and they were being shamefully wasted and squandered The Governor interposed- brought suit against the trustees, and after long, hard and doubtful struggle, obtained decree in chancery, divesting the trustees of the as sets and placing them in the hands of a re- clever in chancerv, to be collected, under the direction of the chancellor and faith fully applied to the redemption of the State bonds This was great point gained It was the first victory of the State over the Bank, and the happy result has already been shown in the redemption and cancela- tion of about t~o millions of dollars of Me .State deJt
 What citizen of Arkansas will not feel a weight removed from his heart at this an. nouncement, and say to the Governor "well done thou good and faithful servant"
 But it is ascertained that the assets will not now redeem all of the State bonds, and recourse must necessarily be had upon the lands mortgaged by the stockholders to the State. Notwithstanding the assets of this Bank, when they were turned over to the trustees in 1S42, were more than sufficient to pay every liability of the Bank and redeem all the State bonds issued to and sold by It, they were squandered to such an extent, during the 13 years the trustees had con trol of them, that there is now very large deficit. This deficit must be made up out of the proceeds arising from the sale of the mortgaged lands, and to accomplish this on the one hand, and to prevent it by pur- chasing the lands for nothing on the other, | will be the next contest between the State and the Bank party.
 Mr. Hindman has already commenced | the war, and he has done it with his usual | shrewdness and cunning. He does not boldly and openly attack the policy of the Governor in regard to the banks-that would expose and consequently frustrate his designs-but he attacks the Governor about other things, such as his refusal to approve the bill to reduce the taxes and the expense of the public printing, etc, etc. Many things are brought into his speeches and artfully worked up to produce an un favorable impression against the Governor, and to create among the people a distrust of his honesty and correctness. This being accomplished, 1t would be an easy matter next summer to elect a Governor as his successor, and legislature, that would undo all he has Zone, and again put the State into the hands of the Real Estate Bank party.
 MT. Hindman has chosen his attack well; but to us, who have long been opposing this bank party, and consequently are fla miliar with their strategems and their cun- ming, Mr. Hindman's tactics are plain. In this attack upon the public printing and the Governors refusal to approve the bill to reduce the State taxes, there is more than at the first blush one would suppose. Reduce the State tax to a still lower figure than it is now, and it is already very low, and the State treasury will be brought back to the old scrip-system; cut off the public printing, and the people would be kept in profound ignorance of the acts and doings of their servants; and under these circum. stances, the State would be at the mercy of spectators and land jobbers, and corrup- ton would stalk through the land without the fear of detection.
 The State authorities, during Gov. Con- ways administration, has been enabled to defeat the Real Estate Bank party only through the means of the public printing, and hence this war upon that branch of the public service Gov. Conway has had every thing printed and distributed among the people. He has kept them constantly informed even in the minutest affairs of the government, he has kept nothing back; he has permitted nothing to be concealed, he has published everything, and consequently he has had their enlightened cooperation and assistance in his contests with the bank
 Without a surplus of money in the trea- sury two years hence, when these mortgag- ed lands shall be offered for sale, the State will be unable to protect them from com binations formed to purchase them for a trife She would be powerless in the hands of an interruptions enemy. But with mo-