New-York tribune., 1869-06-24
ARKANSAS AND ITS RESOURCES.


To me Editor OF The Tribune. .5 e
SIR: AS in other Southern States, in Arkansas,
within the past twelve months history has been making
itself hand over hand 1t is not surprising, therefore,
that in r POOrs valuable manual OF railway and other
ttics those relating to the financial condition Of the
State OF Arkansas crude andinperfect Presuming
that these gathered from Official sources, though thrown
together without any attempt at arrangement, may be
acceptable classes of your raiders they are here
with presented. -- ...u ..i
The public debt Of tho State conists OF State bonds
whioh we're loaued about thirty years ago to certain
state banking interpretations, the banks giving as secu
rty for the bonds loaned mortgages on vast tracts OF
wild lands since greatly enhanced in value. and on
highly improved plantations. The aggregate OF these
bonds with their outstanding intGestnntil recently
most Thoroughly gn9reu, ySS & % n of the fa
legislature comprehensive funding bill passed al
most without opposition, which measure provides Tor tho
funding the outstanding bonds and accrued interest
i'm new bonds bearing tho same rate OF interest
"a per cent? having thirty years TO run from
july I, 1863; the first payment OF interest fall.
Of The interest is secured beyond all hazard Of default by
The evying of special tax OF Onefourh OF one per cent
sessed value of which, for the present will pproxi
mate to This rate OF tax, may be seen will
not only suffice meet the interest ON the new issue,
bu will provide for the creation OF sinking fund for
their ultimate redemption. as required by tho C9nsttu-
completed but they will be ready for delivery to the old
bondholders within the next thirty days This done,
ter conmOnweaths and the tan OF suspicion OF rcpufl
alton which for quarter OF century, has rested upon
have stated that the state debt when funded will
amount s4,3OOOO0 must add that this total VIII be
Largely diminished by what will be derived from the sales
of real estate held by the State under the bank mort
cages From these mortgages now IN process OF fore
closure it is estimated there will be realized from
3 900 10 5000 OOO which proceeds expressly set
apart by constitutional provision to be applied to the
extnguiSLmcpt OF the States indebtedness.
the last cotton crop reached oYer2OGO bales-qute
mp the mark of 1852 the crop OF lsO not being know-
and melted the planters OF Arkansas at least $4,000 600
the ability Of her people to take care OF debt ol from
four 10 five mohS is huiy ugDaIaui' anu
their purpose s suhceh'y at'cs'ou u! 'no legislative
be Marty i'm power backed by direct and overwhem.
ing vote OF the people, has also provided for liberal
sytem Of internal improvements At general election
held last November IN accordance with constitutional
I'M the credit of the State the people by the ratification
Of the law submitted to them authorized me Issue Of
Railroad Companies and In order tha the roads TO which
the bonds loaned may be faithfully constructed, the
law stimulates that the bonds shall be issued only
tons of miles Of road are graded brdged and ready
Tor be rails, and that no additional bonds shall be issued
TO such companies except the rails are laid and rolling
stock is put upon the road. And 10 secure such lines OF
roads as are raured for the fair aud equal development
of the several portions and varied interests Of the state
the m amount OF the State bonds 10 be loaned
has been awarded or pledged to the following named
The Memphis and Little Rock Railroad, length 13o
miles. the "a ro and Fulton Railroad length 800 miles
the Little Rock and Fort smith Railroad length $50 miles
the Mississippi. Ouacha and Red River laload length
is5 miles: tRe Little Rock Pine Bluff and Newt orleans
Not one of The above roads with single exception
can be considered local road. Tho Memphis and Little
Rock connecting at Memphis with all OF the great thor
oughfares centering there Will when completed, place
tOn with all parts Of the Union; wme, looking west
ward It viii be also an m nm "a our
route DO adopted, the city OF Little Rock having been
generally assumed ns an niial point IN notl routes
with the absolute certainty Of having the zap OF 40 miles
closed by February next
beginning iu the northeastern corner and terminating on
Red River. TO- the southweseTn portion 3i the state
Tlc Company has q large land gnut-lbOut 100000
acrc.-but has vet begun operation. II j. reported
that wealthy English company has offered SoV'oO ior
The Little Rock and Fort Smith Railroad Is the llnc
OF tbe am para routc from Little Rock westward has
ebout O0O0 acres ~ land donated by the General Gov
crumeut, aud trayerses rich mineral ana agricultural
region II passes through some extensive coal fields
nbiiumnuus and equal ~ quality to the best PITTS
% vainale feeder 10 tie Memphis and Little Rock
Railroad This may bo Judged from the fact that the city
OF Memphis alone consumes 6nI tuns Ot coal annually
having M least 81 0per tuu moro than the which
Ii could be afforded II mined and transported from the
! Upper Arkansas. a distance OF only l-p miles
s,aItjo from favorable point on the mississippi RIVER
midway between the mouth Of the Arkansas aud the
tie state In fact from the Mississippi River the
chlta River distance of 100 miles the ROAD bed may be
said 10 rest upon pure auyium Tapping He'd River just
above the famous viii drain all Of that great val
y, n @ 10 Von n ~ also on the direct line the 55i
parallel II Paso Pacific route ana ~ virtual cktso
the road graded and u has land grant of about
100000 acres consisting almost wholly ~ cotton lands Of
orleans Railroad extends from Little Rock southwark ia
the Louisiana line From Pine BIOL .oalhNhrd two
routes are proposed following the Arkansas River
% near It's mouth, which lire ~ miles OF road are al
ready graded and thence along thc Mississippi thoreby
becoming portion OF the railway lcyoe systeni 10 oppo
site Vlcksburg The Other route proposed Is an interior
line, terminating, however at the same point should
will be the most Important branch O uhl great hlEhwuy
and over " must ln.s ts1 IiG uu ,o ~ % @ ION ,.o
tOn uf this road may bo deemed assured by the land
donations will receive, aud the aid secured 70 II under
lion Of oycraowed lands The lcyec law referred 20
cures under ccrtais conditions 10 amy railroad company
drains IL may construct the aggregate OF cost 20 be cqu
ably distributed among aud collected from the counties
tectcd from overflow. Thus through the wise provision
" this law while vast areas mado tillablr the en-
road.bcd OF great highway. BueAy, then, % may Do
stated that with % miles OF road in operation with
hands O the several companies 10 pay for the suporsruc
and rolling stock 10 is entirely raic 10 promise to all
this time the facilities OF $50 miles Of railway tnnspora
ton; u less certain lu Wow OF the fayoung phys
great avenues exceptionally easy ana economical that
before July !, lsil 900 miles OF railroad will be iny
ina her cheap aud fertile lands aud genial climate iu their
adaptation 10 the cultivation Of the fis and grains As
aud her uu-ubdued forests containing every variety OF
timber may shortly seek occasion TO lay before your
p
furnish. 10 would that the superior Inducements
which Arkansas offers 10 the Immigrant were IN the past
unknown. From 1850 10 1850, Ito Increase IN popna
ton was per cent, that Oi Illinois FOR the period
boiug per cent It's rare productive capacity Ia strk
ingy shown by the rate OF increase IN wealth This
amounted 10 $50 per cent during the ten previous 10
the waT-tbat Of Illinois being the saue-while the IN
crease In Missouri only 30 per cent, ana IN Indiana
l3G per cent and to-day though just emerged from cy
disorders there 10 steady stream Of immigration flow
10 be largely augmented cannot question, by the
Inviting Influences OF our free schools, weplhnnod
railroad system aud stable, weladminstered, and
economical state Government. Respectfully,
JAMES ~ LEwis
Commissioner Of Immigration. DC, for Arkansas.