Arkansas true Democrat., 1860-04-28

mocratic candidate for the office of Govern or of the State of Arkansas, 1t is well known is in favor of Gov. Conway's policy of making the bank pay its own debts; and as bank men and spectators in lands mortgaged for bank stock, as well as pres ses and individuals under their influence and control, waged a bitter warfare on Gov. Conway whilst he was working in behalf of the State, toestablish and push forward the existing policy, so it is natural to expect that the same classes of individu als and presses, under various preteXts, will oppose and war upon Col. Richard II. Johnson. But let the people never forget the fact that the bank men and specula- tors in mortgaged bank lands when they seek to shift the debt of million and half of dollars off of their own property on 10 the State, will never intimate that such is their real object. Bat through their agents. attorneys anl sub-agents, under various pratexts, will ke-p up warfare upon any honest man who would, as Gov ernor, protect the State from being plum dered.
 Notwithstanding the poor oll Gazette asserts that not dollar of the debt has been paid, and sneers at the policy of Gov. Conway, it is no less true that every quar- ter sees new redemption of the outstanding bonds and other steps taken to bring them to a close. As an answer to that and to other articles to be published, we shall, in succeeding numbers, show what has been done and what it is proposed to do. The facts and figures from official sources, will satisfy every candid man that the State debt can be paid without an increase of the rate of taxation and the State credit become and remain untarnished
 The assets of the Real Estate Bank and lands mortgsgea for stock are amply sui fcient to pay off the indebtedness on its account To do this, unless those who hold mortgaged lanls voluntarily come forward and release their lands by making payment, the mortgages must be foreclosed and the lands sold. To prevent this, many Of the parties interested are using every eXertion. Their attempts heretofore have been thwart- ed, and their schemes to have the State s sue new bonds, so as to release or cancel the old ones; to fund the debt, an1 by as suminc it to release the lands, have all failed. The time is rapidly approaching when they must either pay or have their lands sold, and they are making final effort to get leg slature of the complexion to suit them.- Hence the war upon the Johnsons, who are known to be in favor of applying the assets of the banks to cancel the indebte iness- Hence the attempt to make Gov. Conway unpopular and the sneers at his :" bank policy'
 If the State assumes the whole debt, 1t will require treble and quadruple the amount of revenue raised to keep down the interest alone To suppose that the people will submit to this is all absurdity. It is enough to be taxed to pay the necessary expenses of government, without bleeding at every pore to pay the debts of others. The other alternative is repudiation!
 We have been told that there Is nobody in the State who advocates repudiafion.- Even if this was true, we all know that the bank debtors. their purchased presses, their attorneys and those whom they have bought, do advocate line of policy that will lead to repudiation or enormous taxa ton. But we believe that the articles are written and have been tcndered to different newspapers for publication, boldly advo' eating an assumption of the bank debt by the State, and counselling repudiation.- We believe, ere long, the country will be flooded with pamphlets containing so-call- ed arguments in favor of this ruinous poll- cy We believe that there are or will b9 emissaries in every county in the State, who, under the pretence of looking at lands, seeking for health or some other excuse, will endeayor to poison the minds of the people against those who seek to avert the great evil that threatens them.
 The course to be pursued is
 l. To create party opposed to Gov. Conway and to elect members to the legis lature who will be under the control of oth- CTS, and ready to do any thing in opposi tion to the present policy of the State
 :. By newspaper communications, by pamphlets and speeches, to familarize the public mind with the idea of repudiation, that it may seem less odious.
 3. To plant at every boarding house, hotel and home of the members of the leg islature next winter, lobby member to act upon the members.
 In pursuance of the first part of the scheme, they began to abuse Gov. Conway until they found that the reason why was asked when they suddenly dropped thelr abuse. They abused and vllihed Mr. John son, until they have made him the demo- cratic nominee for Governor.
 We know that the bankltes and thelr organs will deny that repudiation commu- nications have been written or pamphlets will issue, but we have seen more than one | of the manuscripts and know that attor- neys will not confne their action to courts but will take the stump, as in the election of bankites to the General Assembly, lies their last hope.
 The stake is millions, and these men can well afford to spend thousands. They have spent much and will spend more. We