The Van Buren press., 1875-11-23
FROM THE CAPITOL.
SENATE CHAMBER.

/ rrrLE Rock, ARK, Nov. 3tt,lS75A
j. 5. DuSuAa;-
Dear st During the present week, Senate
Bill No. 253, entitled IAN act to authorize
the State Board of Finance to borrow money
to pay the expenses of the State government
and to pledge the bonds of the State as secu.
ritv" has become n law, thereby removing
the difficulty spoken of in my last letter The
bonds of the state are to be pledged for the
repayment of the loan, and there is appropr
ated, also, for such payment, to the extent
that may be required for the same. so much
of the money annually collected and set apart
for interest on the bonds of the State author
lied to be issued by the finance bill of last
session, as shall not be required to meet the
interest for the current year, on any and all
of said bonds outstanding, or which can be
legally issued in such year The bonds liable
to be sold upon notice of thirty days, and
not to be pledged at a rate less than one-half
their par value, and not more than five hum
dred bonds to be pledged in any one year,
This bill 1t IS understood, comes up to the ar
engagements made with the New York capital
lists. No other difficulty, it Is believed, need
be apprehended in borrowing the money that
we so greatly need, especially with the pas
sage Of the accompanying bills reported by
the committee on finance;
1st.-Senate bill, No 254 entitled. :" An act
to provide for the liquidation of the obliga-
tions of the State" which authorizes the
State board of finance to apply any moneys
tlSe may be in the treasury, from time to
time not otherwise appropriated by law, to
the liquidation of the obligations Of the State
in such manner as, in the Judgment of the
beard. may best subscrYe the public interests.
But not to apply to any bonds OF the State
issued prior to the lst OF April.
I'd Senate bill, No. 255, entitled " An act
to amend an act entitled an act to amend the
revenue laws of the State. approved March
D. 1870 y This law increases someM hat the
taxes for deiraying the general expenses OF
the State government, as provided for by the
act of last session. For instance, the levy of
three mills on the dollar. is increased to five
mills, and the levy of one mill on the dollar,
to pay interest on the public debt, is inereas-
ed to three mills, while the school tax of two
mills on the dollar, and the per capita OF one
dollar remaining as in the law of last session.
This increase in the taxes for the general ex-
penses OF the State governments and supply
inc deficiencies, was found to be indispensa-
bly, necessary. The Auditors report shows
its necessity. and the Governors message rec
ommcnds it; and surely no patriotic citizen
of Arkansas could hesitate to vote for mca-
sure necessary to sustain the government Of
his choice, and to uphold the credit and char
acter of the Stats. IL only comes up to the
constitutional Limitation of one per cent.
| And such is the condition of the State tinan-
cially that 1t may be necessary for some time
| to approximate to that limitation. When the
State shall stand erect upon her feet again,
and sound currency for government purpo-
ses shall take the place of the deprecated
| scrip with which the State has been inunda-
ted, then these taxes may. aud doubtless Will
be reduced to the lowest point consistent
| with an economical administration of the
State government.
| 3l.-The next bill from the finance COM
mittee is Senate bill No. 25G, entitled An act
| to provide for funding the auditors warrants
and treasurer's certificates issued since the
| 23a day of December, 1874, ltauthorizes the
state board Of p2nse AID N GGeff At naf IN Iage pag
| mcnt of the bonds of the State issued under
the finance bill of last session.
! These bills have all passed the Senate. and
/ it is believed will pass the House of Repre-
sentatiyes. 1t is confidently expected that
they will not only furnish the means to keep
the machinery of government IN melton, but
tend greatly to elevate and establish the cred
| it of the State.
| We have other important bills before us
among them" An act amendatory of exist
ing laws regulating the sale of State lands
| This is believed to be a decided improvement
on the existing law. Instead OF privately
| diSposinp of forfeited lands, in the interest
| OF Spectators and land sharks, as permitted
! by existing laws, it provides for a public sale
of the lands. at not less than fifty cents an
acre at the 'front.' door of the office OF the COM
| missioner OF state lands, after due notice.
! There were many other bills before us, i'm
portant and unimportant, " too tedious to
| mention notice of their introduction
! and disposition may be found in the Little
| Rock papers. see no reason to doubt how
ever. but that we will be able to adjourn by
the st of December.
Very truly,
JESSE TURNER.