Arkansas true Democrat., 1860-11-10
Number 6.

completely draining the treasury. during the next four years, and without increasiinT the present low rate of the state tax. Bus without increasing the state tax, it would be imprudent to provide for paying tho debt, except in installmenfs to be adapted to the state of the treasury, taking into con- sideration other indispensable expenses If the state Upon this plan the state could honorably pay debt which she oweS, and greatly aid the railroads, without incurripc any new debt or new liability.
 1t is safe rule to get out of debt as fast as possible and then pay as they occur, such expenses as the interests of the state require. By such policy established, there would be no accommodating interest to pay on money, which perhaps might have been in- judiciously expended; and more regard would, under such policy, De had to true economy. It is therefore in the power of the state to afford aid to fxilroads and N the same time pay debt which shc owes.' ''s You will see by the report of the presii- dent of the Memphis and Little Rock fail- road company. that the company kas con- tracted for the iron and the nchairs and spikes, sufficient for the completion of tho road from the present terminus, 1t the St, Francis river, to Little Rock. That the third division of the road from White river to Little Rock is nearly all graded and the greater portion of the cross ties re- quired, already delivered. That hands Are atwork sufficient to complete the grade and furnish the balance of the ties as fast as they can possibly be needed for, tho track: and that this division is now. ready for track laying, and that the company only needs funds immediately available to enable them to press the work with vigor and energy to completion. The one hundred and thirty thousand dollars of the five per cent fund, if promptly appropriated out of the state treasury, would enable the com. pany to finish and place in operation this third division of the road in | few months: and the completion of the remaining un- finished portion of the Memphis and Little Rock railroad would soon follow.
 It will be seen by the reports of the auditor and treasurer, that there remained in the state treasury, on the first day of October, 1860, subject to be used for ordi- nary expenses of the state. the sum of thrce hundred and four thousand, one hundred and six dollars and ninety eight cents, is gold and silrer.
 Tho whole amount of the internal i'm. provement fund distributed to, and drawn by the several counties, before the first day of October, 1860. was SASS, ,692 96, and on that day . balance of this fund remained in the treasury, in specie, amounting to sl7.- Al 26. The entire amount of the semi- nary fund distributed to, and drawn by the several counties, before the first day of October. 1860. was $S9,595 70, and on that day a balance of this fund, in specie. remained rel in the treasury, amounting to
 The whole amount of the saline fund dis. tributed to, and drawn by the several coun- ties, before the first day of October, 1860. was S14,77S 56, and a balance of this fund. in specie, remained in the treasury on that day, amounting to $1 ,988 95.
 The seminary and saline funds. whom distributed to the several counties, to aid in the support of common schools, are 1 placed under the control of the county sp11 thorities, upon whom it devolves to the funds taken care of VI w
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