Arkansas true Democrat., 1860-06-09
TOL. R. H. JOHNSON

IOuDOuS aIIuCneu anu ucldCH6u oO,o' oO Total Real Estate Bank bonds and
 coupons. ns................... Sb4,oIJ OO Six Stote B,n, bonds. GOOD co Counous attached and detached - 1885 00 Total State Bank bonds and cupons. .Sl3,635 % Making total of bonds and cupons for
 both of the banks of. $7o,2l4 00 Which added to the amount of k. E.
 Bank bonds and coupons cancelled
 and filed before the lst of October,
 1858, as shown in the Governors,
 message. Sl ,@l3,o3I 3@ And State Bank bonds and coupons
 to same date as shown in the Gov
 ernor's message. 932 ,7oO O3
 Total. al....................$ &, ,224 ,69S 36 hereby certify that the foregoing is a true state men of the amount of Real Estate Bank bonds and coupons, and State Bank bonds and coupons filed in the the treasury and cancelled, fully paid off, as shown in the foregoing statement.
 JOHN QUINDLEY,
 Treasurer of Arkansas "
 Thus it is shown that Gov. Conway's policy has acted well, and that under it teco millions, two Hundred and tgenty four Mou- sand, sir hundred and inety-eigM dollars ot Me State deW haS been paid o9i, and Me bonds and coupons cancelled and ,fted acith Me hea- surer ot Me Slate. That this policy of col lecting the assets and applying them to the redemption of the bonds, and filing and canceling the bonds thus redeemed with the State treasurer should be pursued until the whole of the assets are exhausted, l pre- sume no man of sound sense, or any regard for the interests of the State, can entertain any doubts.
 After the whole of the assets are exhaust ed, there will, according to the report of the receiver in chancery, still remain debt on account of the Real Estate Bank unpaid amounting to S1 ,394, l65.
 When the State issued her bonds to the Real Estate Bank, the stockholders of that institution mortgaged to the State, to save her from loss, POT l0l acres of land, valued by commissioners under oath at the sum of $3,380,772. It is to these mortgaged lands the State has now to look to pay off the one million, three Hundred Mousand, one Hundred and sirtyJfue dollors of debt that will remain unpaid otter oU he assets are collect ed and applied. Whether this can be done, and the mortgaged lands made to produce the necessary amount, depend en- tirely upon the Executive and members of the legislature to be elected this summer Gov Conway's term of office expires 18th November next, and under the opera tion of the constitution he is ineligible to a reelection. He has done all in his power, and it will rest with his successor and the next General Assembly, whether or not the policy he has inaugurated so happily for the State, and worked out so far to such glorious results, will be carried out faith fully and the State released from debt
 The bonds issued to the Real Estate Bank by the State will fall due on the 26th Octo- Der, 1861. It will consequently devolve upon the next legislature to take the neces- sary steps to commence proceedings against the lands mortgaged by the stockholders, for a pro rata amount from each, sufficient in the aggregate, to pay off the entire in- debtedness of the State on account of the Real Estate Bank. When this is done, as am assured it can be done, the debt of the State on account of bonds issued to and soled by the Real Estate Bank, will be full ly paid, and the State released entirely from her obligations.
 According to the report of the accoun- tants appointed by the Governor to exam inc the condition of the State Bank, 1t ap- pears that the debt of the State on account of the State Bank, after all of the assets