Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-11-21
ARkANSAS.
The Monetary Policy Exposed and Con
demned State and Private Finances
Badly MiXed-Etc.
From an Occasional Correspondent
Sp TnITTS Npvnmha IL 1871

From an Occasional Correspondent
ST. LOUIS November Is, 1S75.-The
only way for al absent citiz en- of Arkansas 10
reach the dear public" of that political, pow
erty down -'rodden people by both parties
eight years is THROUGH the great newsy AP.
PEAL your weekly, at least, having almost q
limitess circulation in eastern Arkansas). His
eXceliency, Governor Garland, is incorTupti-
bic ana above reproach. Arkansas newer had
purer or better executive officer than its
present chief magistrate, hut this need OF
praise cannot be accorded to the majority of
his subordinate officers or the "body polite" "
THE ARKANSAS LEGISLATURES,
now In session, composed in the lower house
of forty three grangers, and the senate ma
jority of Jobbing politicians, is headed by that
ObedieRt tool OF the willy New EnglandeT,
Tom AlIenl who will year hence, no doubt,
claim citizenship of the State and aspire
TO succeed the notorious Clayto in the United
States senate as United States senator from
Arkansas. Besides being the principal owner
of the greatest line OF railroad in the State he is
the owner OF one of the finest residences upon
Crystal City, normally, however, owned and
occupied by carpetbag resident, and senator,
toe, both of the Pulaski and Perry county
district, who, If not in the schemes and con-
ton, at least Is his next neighbor. in
brief, this Is the handspring and sta tus
OF the leaders of the jobberies ami of
the everyday proceeding of the as
sembled wisdom OF the senatorial
branch of the legislature now in session,
and the author of the several funding bills
that has become a law, and is likely to become
an amended law at the present adjourned ses-
sion. To say the least, it is
ring to cover their extensive pur-
chase of State and county scrip, with interest
bearing bonds, to fund this specles of indehted-
ness dollar fol dollar that absolutely did not
cost these operators one-third of its face value
10 legalze the Issue of this species of state and
county Indebtedness under doubtful author
ity Of the new constitution. If 1t was not for
the WatchfulneSS Of Hon. Mr.. House OF
the sen ate, senator from While county, the
only man in the upper house that has stood
aloof from the cajolery of the special plead
tngs of the ring, 1t is doubtful If The new debt
Of the State, in State and county bonds OF the
new issue, /" would not be as rapidly manu-
featured and saddled upon the energies OF the
people of the State as during the edmiERtra-
lions of Clayton, Hadley and Baxter. And
that lamented and pure representative of the
people in the lower house no more, the
IRREPRESSIBLE GEORGE NJ. SHARP, OF
CROSS
the old watchdog of the best interests and
welfare of the masses. 1t is an easy NAL
ter to run any species of the ring.jobbery
through the lower house, as it is virtually
without leader to represent the true inter-
estS OF the people. Unless the coming man"
OF the west, Hon. Mr. Kerr, of Sebastian shall
prove equal to the emergency, and lead the
opposition against any further attempt to
faStgn any more doubtful bonded debt upon
the people, to be finally paid through the hue
and cry that it is Gisgraceful for any State TO
repudiate a dishonest deLt II is certainly a
very great misfortune for the State that when
the legislature adj ourned last spring after its
ninety days session, II did not jourp sine die.
Had it done so at least quarter of a mil
lion dollars would have been saved TO the tax
payers, in the useless expenditure OF this ad.
JOurned session and the appropriations IL will
make TO pay the many claimants that have
presented unsettled claims against the State
incurred through the Brooks-Baxter war,
thousands OF dollars of which are fictitious,
and never should have been entertained by
those granger servants OF the people. At the
commencement of the
NEW DEAL-CHANGE OF ADMINISTRA-
t-R TON.
A new party at the helm of State, the people
were promised an economical administration
of bOtl State and county administrations.
But what has been the result? Directly the
opposite, in the lavish expenditure of every
Official where his excellency, Governor Gar
land, had no authority to restrain the run
ming of the several scrip mills, and to prevent
the manipulators of the issue of State and
county funds, for the benefit of the several
rings, rendering absolutely necessary for his
ezcellency to ask the legislature to raise state
taxes for all purposes for the coming year to
one per cent. to meet current expenses of the
State goVernm emit, aud to advise the funding
OF county scrip with the faint hope that in
the distant future, that futurity will be better
able TO pay this debt, accumulated by this
lavish generation of office-holding thieves,
which is not only confined to the Republican
ments, where that party is ia power, but too
often adopted and patterned after by the Con-
sentative party, as soon IS they get liked well
In their places" The only righteous act the
legislature could enact would be to reduce the
pay of every State and county officer thirty
three er cent. and curtail-lesson the interest
bearing debt State and county--Ieduce the in
terest to three sixty-five hundredths per cent.
per annum upon the dollar, principal and in
terest payable in gold If absolutely necessary
TO refund the new floating deb of the State,
county and municipal corporations created
since the inauguration of the new State gov
eminent; providing that the funding of this
species OF debt shall be at its actual cash
value, State scrip at fifty cents aud cou oty
and municipal scrips at ninety-f1ve cents on
the dol ar of face value, and all species of
scrips or certificate OF Indebtedness not fund
ed by the first day of January, 1877, to be for
ever barred from redemption. as this plan
would st once absorb all species of floating
Indebtedness, it would not be too much TO
Predict that the tax collections for the reve
nue. of 1873 would be collected and payable in
United states currency, instead of depreciat-
I'd state, county and municipal currency, as
here tofOre. In my next shall have some
thing 10 say how to pay the old bonded debt
OF the State st the least cost OF the tax payers.
Yours, truly, V.K. S.