Des Arc citizen., 1860-07-18


 That this policy of collecting the assets and applying them to the redemption of the bonds, and fling. and canceling the bonds thus re , | deemed with the State treasurer. should be parsued until tha whole of the assets are ex- hausted. presume no man Of sound sense. or any-segard for the interests of the State, can entertain, any doubts. n aqsomsM
 | After the whole of the assets are exhausted there will. according to the report of the Re- ceiver in Chancerv, still remain debt on ac- count of the Real Estate Bank unpaid, amount l ing to S1 ,3aal65. kM
 When the State issued her bonds to the Re- al Estate Bank, the stockholders of that insti- tuition mortgagedltothe State, to save her from loss, POT, ,10lsacres Of land, valued by commis sionefs, ,A,nacr oath, at the sum of S3 ,3S0, ,772.
 It is to these mortgaged lands the State has now to look to pay off the one million, three hundred thousand. one hundred and sixty five dollars of debt that will remain unpaid after all the assets are collected and applied Whethi CT this can be done. and the mortgaged lands made to produce the necessary amount, de- bends entirely upon the executive and members of the legislature, to be elected this summer. Gov ConwaRs term of office expires 18th No vember next, and under the operation Of the consultation he Is ineligible to reelection, 1 He has done all in his power, and 1t will rest with his successor and the next General As- sembl,, whether or not the policy he has in-
 anguruted. so happily for the State, ,and work ed out so far to such glorious results, will be carried out faithfully and the state released from debt. - ~
 The bonds issued to the Real Estate Bank 1 by the State, will fall due on the 26th Octo- Der, 1861! It will consequently deyolve upon the next lagi islature to take the necessary steps to commence proceedings against the lands mortgaged by stockholders, for pro rata amount from each. sufficient in the aggregate I to pay off the entire indebtedness of the State on account of the Real Estate Bank. When this is done, as am assured it can be done, the debt of tue State, on account of bonds is- sued to and sold by the Real Estate Bank, will l be fully paid. and the State relieved entirely ifrom her obligations. a#i8aWE saNii aHes l According to the report of the accountants, appointed by the Governort to exaninethe con dtion of the State Rafls iti appears that the debt of the State, on account of the State
 Bank. after all of the assetssare collected and applied to the redemption of the bonds, will l be something Tess than one million, one hum l dred thousand dolars.a To meet this debt, all that is nacessary is that the State should re. I store what. finder the acts sbf Sd February, j18d3, and l0thJannasy, 1S45, (see Gould's
 Digest. chapter l67). t took from the vaults of the bank According to the report or the accountants it withdrew from he bank, at va ffOuS times, I0frIly4 cFVlHdIV tNprHSoS VI the government, the sum Of three hundred and seventy three thousand stwo hundred and nlnc- 1.-two dollars 'This amount was talk enfrom the capital of the bank many years ago, when the credit of the State was such she could not bor- row any money, and when the distress and embarrassment of her citizens were so great she could not increase the taxes. This amount
 thus appropriated bysthe State, was pledged, | as the capital of the bank, for the payment of | ba labtc ina kv ha
 able and just that the State should restore it {; and as the State Bank bonds are and have been drawing interest at the rate of six per cent. I it is right and proper that the State should pay six per cent upon the amount she used N
 With this sum, the principal and interest
 accounting to six or seven hundred thousand dollars, the State Bank could redeem all of I the bonds and coupons of the State, now out standing and unpaid, and release the State en tirely from all indebtedness on account of the State Bank The State is now in condition land amply able to pay every dollar she justly owes She comld make the necessary pfovi. sion at the nextolegslature. and commence the payment next year, and in a very years, four | or five at farthest, she coiild wipe out the last vestige of the debt that has soIong overshad- o wed and crippled here energies. She isamply able to do this without increasing her taxes | upon the people d particle, and it is too glori- ols result to be longer deferred. When all shall be consummated, the debts of both the State and Real Estate Banks paid of, all of which can be effected in very few years, the State of Arkansas wilhpresent the solita- ry example among her sister states of being funtrammeled and free from debt.
 FsLLow CITIzR.s--You have heard much said aboutthe ''Johnsonsp breaking the banks, | and have known of attempts to make me, amoag others, responsible for the present un- | e- can truly say what Gov. Conway said to you lin hisaddress. four years ago, that sslnever had any thing to do with any of the banks Of this State, either as a stockholder, director, or I other officer nor did ever borrow a dollar from any of them and l am not nov and ney- 1 CT vas indebted to any bank" All the insln- nations and charges made against me in this connection do me gross injustice. ] am no ways concerned in either of the banks and
 never in nv life had any connection or trans action with them; nor am in any manner in- | terested in having them wonnd up, more than the deep interest feel as citizen of the State Ito have the State released from the debts that 'Fthfeaten her on account of the banks.
 je Connected with the subject of the public debt is the question of Internal Improvement. r To the cause of Internal Improvement, as a limeans of developing the acknowledged vast resources of the State, l shall, if elected, ex- ltend all the assistance in my power, consis- 4 tent with the best interests of the State. A II that is needed to develop the unbounded wealth I that lies concealed in our midst, and bring in- l to the State at an early daysa a thriving and in- dustrious population, many times greater than I we now have, is a complete system of raIl-- J roads, such as is now pgoleeted, in successful | operation. If am honol ed with the election, lit will be my pleasure to give my sanction to ! d Il euactme1ts of the General Assembly, in- | tended and calculated to promote such an end, without bnrdening the people with taxes or Involving the State iu debt she could not pay. | To protect the people from heavy and opprss- lsiye taxes. the constitution has wisely provi- T ded that no other or greater amount of reve- me shall at any time be levied than required I for the necessary expenses of the government, unless by "a concurrence of o-third rdssof both lhouses of the General Assembly.Y Solong as fthis provision of She constitution is observed, there is not lnilchfesr of. the taxes ever being made oppressive, or much danger thatthe State will ever embark in any useless or barren en- | terprise. fsl rttNs4flA4t M1l 2. The question of State aid to railroads, IS 1 much mooted just now, and there are some who advocate the issuing of State bonds to raise the necessary means to build'them. While It is evidently the interest of the State to aid The construction of faii soads. 1 very much qnes- ton the psoprie,y Of issBius new bonds until Q "a