Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-03-15

FROM a lCtltE u 4lou. LlCliAg Z oSNf
Treasurer of the State of Arkansas,
addressed to the weD-knOwn capital
ist. Josiah Caldwell, Of Boston, Mass,
we take the following exhibit of the
financial condition and resources OF
Arkansas, Of the railroads completed
and in course Of construction, and Of
those in prospect. Coming frora the
Treasurer of the State, this viii, Of
course, be received as only less in de-
gree than an " official statement, but
every way as reliable:
POPULATION.
The population of the State, in
Guiding slaves in 1920, was I4,&3; in
1886. was 80, 3Ss in lS40, was 1854 ;
1850. was 2O9, ,Sg7; in 1850, was 40, 45O.
Since which time no census has been
taken, but it Is confidently believed
that the census to be taken this year
will show a corresponding increase
and that the population IS now FULLY
500. 600, Notwithstanding the losses by
the war.
kEAI AND PERSONAL ESTATE.
The assessed valuation of taxable
property for the year 1870, viii reaGh
500. 100000.
The value Of real estate an6 per-
sonal property, cannot 1all short OF
$50, 100000
DEBT AND RESOURCES.
The debt Of the State now being
funded. is 81, ,430, 600, payable in thirty
wears, aEd bearing six per cent. In
terest, which is provided for by tax
qF 2 Of one per cent.
Tde floating debt Of Arkansas is
4 ~4OO.Og0, and the tax now being
ao0ut II wipe that out entirely:
collected n 0f the State is derived
The revenue tsx for 1870: Poll
from the following =. State tax. I
tax, 81 for school funL 49,, school
per cent, for general purpO sinking
tax OF 10 OF one per cent; ~aF
fund, tax Of I of one per cent, to T..
interest on bonded indebtedness.
The tax Of Of one per cent. levied
to meet the interest on the State in
-debtedness, is ample for the purpose,
and, iH view of the largely increasing
revenues of the State, see no good
reason for a default in the future.
The semi-annual interest on the
bonds loaned in aid Of railroad COM
panies was promptly paid when due,
on the first of October last. The in
terest on the funded debt, due January
1st, 1870, was punctually met, and the
tax now being collected viii again
meet the next coupons when due.
In addition, the proceeds of certain
lands mOrtgaged TO the State, are by
a constitutional provision set apart, to
be applied to the reduction Of the
debt. The mortgages are now in pro-
cess Of foreclosure. They cover 250,-
600 acres Ofland, and embrace some Of
the most valuable and highly i'm
proved plantations in the State.
These, when closed up, viii reduce the
debt s., ,j00, 600
The State also owns about two mil
lion (2,000, ,000) acres Of wild land,
large portion of which are lands that
when put in cultivation, at once be-
come cotton lands of choice quality,
capable Of producing a bale TO the
acre, while some are valuable mineral
lands, containing extensive fields OF
semi-bituminOus coal and inexhausti-
ble deposits OF zinc, and argeuiierOus
galena, and also slate, lead, iron, and
manganese.
MINERAL LANDS Ds-PRODUCTIvE Ca
PACITY.
The mineral wealth OF the State, al
though well known, is almost entirely
untouched.
The geological examinations which
have been made, show that Arkansas
ranks next TO New Jersey in zine de-
posits, and in gypsum, marble and
salt is without a rival among the
states. Her coal is of superior quality,
and deemed equal in value to the best
Pittsburg.
The productive capacity Of the State
may be judged from the following
data, taken from reliable official
sources: The cotton crop Of 1865
reached 293, 600 bales, from which the
planters realized about $50, 600, 600.
The crop Of 1863 exceeds that amount.
The other farm products for 1868, prin-
sipally cereals, amounted in value to
about so, ,000, 600, making a total Of
$40. .O00, 600, or nearly three per cent.
of the products of the Union, while
her pOpulatimigratiOD sy Il per cent.
The tide Of e, and with GEMS to have
set in rapidlyOn is barrel the impetus
which railroad building viii give to
it. the star of neglected Arkansas is
surely and rapidly in the ascendant.
RAILROADS COMPLETED OR N PRO
CESS OF CONSTRUCTION.
At the present time there are ninety
five miles of railroad in operation IN
the State. viz: Fifty miles Of the Lit
tie Rock and Memphis railroad, run
ming from Little Rock to DeNalPs
Bluff, and forty-ive miles Of the same
road from Memphis to L 'Anguille. In
addition TO which there are the fol-
lowing in process Of construction: The
Little Rock and Fort Smith road has
forty miles graded and the work Of
track-laying has begun. The resources
of this company being abundant, l see
no reason why the entire road should
not be completed in two years.
The Mississippi, Ouachita and Red
River Road, am informed, has nine
1v-fve miles, or tWo-thirds OF its en-
= length, graded and a shipment OF
.a;i. .IiI = on its way to Eunice, its east
al IaIis - - 'uus. This company being
Iisl,'oII.- N u -, 7Owed with land grants,
aIUiis,t5 and So eaf oid Nud the road easy Of
construction, the 'll iair 'r'i i;ra lJ'1'U ~ ono
able 10 complete IL "a my "
year. Dino RlrF
Next, the Little Rock, me ID DlGI, ~
and New Orleans Road, is 1IIo, so ii
course of construction. Fifty l. IL "a
ohe-third Of its length-are gra, 'ea,
and with its liberal endowment, beih,S
a levee road, protecting from over
flow all Of lower Arkansas and the
Mississippi front to the Louisiana line,
and having been the recipient OF large
land donations and liberal subscTiP-
tions to its capital stock, it can, with
energy, be completed in two years.
am informed that some work has
been done on the Cairo and Fulton
Road, though TO what extent l am un-
able to say.
The construction Of these roads will
DominalIv increase the deDt Of the
State seven million dollars, but nomi-
nally only, as the State holds lien
on the roads for the full amount Of her
loan, which lien is perfectly secure.
RAILROADS IN PROSPECT
About twelve hundred 1200l miles
of railroad are prOspected. Most OF
the routes are trunk lines, ana are
liherallv endowed with land grants
from either the general Government
or the State. and are also aided by a
Iosn of the State credit, which Is
Dledged to eight hundred and hfty
SesO1 miles of road, covering the most
i1portant lines, and insuring the con-
strnction OF a system of roads when
will develop equally the different por-
fious of the State, as will be seen by q
glance at the map.
First. traversing the State directly
- a