The Van Buren press., 1860-11-16

s.4COOsgssg sSasssszo s.ss
.asa 0ovss1ors ~1Gasnagss ssa
Ia0ss eitissns Of Akss Sessss sad Of eke
Hesss cf Representatives :s,s ! Z.
The constitution Of the State of Arkan-
sas provides that the Governor shall not b
eligible for m.,rs than eight years in any
tern OF twelve ysars." With the four
teenth day OF this month, the term ofeight
years from tho time Of my first installation.
as Governor Of the State Of Arkansas will
expire. Ny successor will. therefore, have
70 be installed ON the 18th Of November,
1860. or there will be an iaterregnum.
To the printed copies of tho official re-
ports and other information, adopted as &C.
lcompanying documents to this message. you
are respectfully referred for inteliigence in
detail respecting the condition Of our State
Government. vs,sf s, @saf
The increase to the taxable property of
this State. for the four years FROM 1852 to
1850. was o27. .S57 .065 fer the two ysaas.
| 1857 md 1853. II waa ~, i q, ,eOS. 4aAl
Tor the ysafs 1859 and 1900, tbs increasd to
~ iasgsass to IL Gsxable property al .the
State has bscn 843. .601 1888. The swamp
and overfowed lands sold by the State be
fore the 11th January, 1855. were exempt
ed from taxation by the State for ten years
or until reclaimed. Many Of these lands
will become taxable next year more Of
them the year after; and nearly the whole
of them during the next four years. This
alone will afford certain increase Of at
least twenty millions and perhaps thirty
millions of dollars to the value Of taxable
property in the State during the next four
years.
The payments on the State debt, up to
the first day of October. 1860, amounted to
81. .34l 1896 II. This sum includes 8145,
OCT Sc, the amount of the five per cent Of
the net proceeds Of the sales Of the public
lands, which accrued to the State Of Ark
ansas, under the compact between the Unit
ed States and tl.is State, from the first OF
January, 184l, to the first day Of January,
1860, ana also includes 85.Ol2 16, which
accrued to this State under the act o. Con-
gress to appropriate the proceeds Of the
sales of the public lands, approved 4th
September. 1841, before this act was modi-
fed and the distribution of the land fund
to the several States suspended by the tar
if act Of 30th August 1852. These two
United States and applied towards the pay.
ment of interest on 628 bonds Of this State
held by the United States as trust funds.
OF these bonds 300 were issued to and sold
by the " Real Estate Bank of the State OF
Arkansas" and 12s were issued to. and
sold by the " Bank of the State of Ark
ansas.'' -s,.-
At the June term, A. D.. 1860. of the
chancery couIt it was ordered by the court
that the receiver of the Real Estate Bank
settle and adjust the accounts between the
State of Arkansas and the Real Estate Bank,
in regard to the five per cent fund retained
by the treasury department Of tho United
States for payment Of interest on the bonds
insurd to said bank, which are held by said
FdS6arsu8snt, and to alfow to tbs stats il
such settlement, interest ct the rate Of six
per cent. per snnum. from the date of each
payment or application of the five per cent
fund up to the date of such settlement: and
pay to the state such balance as he may find
to be due to her, in the coupons to be sew
cred from the State Bank bonds in his hands
as receiver. and upon such settlement to re-
quire tho state to surrender to him, the cou-
pons for the amount of the principal, from
the Real Estate Bank bonds in the treasury
department. or to give such guaranty against
the same as may be deemed by his attorney
to be snfficient.
On the 9th of July last. . letter was
written in behalf of the treasury department
asking,that an official statement te fLn she'd,
showing the dates at which the funds ac-
crued to the state Of Arkansas and the
amount Of each installment retained at the
treasury of the United States, and that for
the whole amouns of the funds of the State
of Arkansas SO retained, coupons be served
from as many of the bonds Of this state.
issued to the Real Estate Bank and held by
the United States, IS the whole of the mon
ey SO retained would pay; and to forward
Arkansas. The letter making these re-
quests was referred to the first comptroller.
but the State of Arkansas is yet without
the information essential to have the ac-
count adjusted under the order of the chan
Gerry court. If the requests of the executive
should be complied with. upon the receipt
Of tho information and the coupons. the su-
thorities of the state will then be able to
have the account adjusted. under the order
Of the chancery court. Should this be done,
the debt of the state on accoant of the Bank
of the State Of Arkansas will be reduced
about one hundred and eighty nine thou
sand Collars. And the state would thus be
p.ade 1ebtor to the five per cent or inter-
nal improvement fund.
The state also owes to the Eve per cent
fund. 868. .575, 80, on account Of that part
of this fund received by her up TO the frst
day of January. 1S41. including the divi.
dend of 37.611.72. declared on the fund by
the Bank of the State Of Arkansas. and
without adding interest from 7th March,
1S43, to this time. which would increase
the debt. If this sum Of 868, 5000 Be
added to the 8189. 900 90. it will make the
amount Of 8257 .678 90, from which should
DO deducted the e80. 900 Of the FIVE par cent
fund appropriated by "An act to authorize
the Governor to subscribe for stock in cor
Itain railroads." approved S1st 'Januasy.
1859, and the sum Of 9177. CTS 90. viii NJ
main unappeopriated. In view Of the fact
that our state is bound BY the compact be-
tween tho United States and this x.ats TO
apply the FIVE per cent fund. among other
works, TO the construction Of railways, i is
IDconmsndsd that one hundred Ard tAisty
thoussnd dollars Of the ave pr oset fund
he appropriated out At tAs sesas sssssiEysl6
n adv day. for tn cOAAplstioA q tAa thiu1