The Van Buren press. [volume] (Van Buren, Ark.) 1859-1914, 1877-08-07
STATE FINANCES.

-
doubt that the continued agitation Of the
Indebtedness of the State has injured its
credit abroad and designed SO by some
of the agtators. This is what Bro. Civ
ems says:
Rational men should decide matters OF
grave importance, not by the whims OF
passion, but by the dictates Of sober rea-
son and we confess that we regret to
notice in some OF our exchanges II dispo-
siton to discuss the gravest matter now
engaging the attention of our State Gov
eminent in anything but the calm'deHb-
Grafton that its Importance deserves.
No reasoning man can, for moment,
! deny that the financial situation of the
State is critical in the extreme, and re-
qures delicate tact and management to
protect the tax payers on the one hand,
and keep the honor of the State above
reproach on the other.
We cannot conceive any benefit to ba
derived from resolving" that we will
or will not pay any particular bonds OF
the state, for every body, who knows
anything, knows that we could not pay
anything on any of them, Just or unjust,
were tho people of the state ever SO will
ing to do SO. 1t is more than we can do
to raise the money for daily expenses OF
our own government without a nickel
going Is pay any bonds Of the ss. - ss5.
pie who can do more than raise the mon
ely they spend day after day, can we not
safely trust them to disburse tho money
they themselves raise ?
Ii to-day there was money in the
Treasury that COULD be applied to the
payment of any debt of the state, We
would be as ready as the readiest to have
the matter settled as to how and to whom
it should go. But then we would want
the question settled by the well estab-
lished rules Of law and justice-but un-
til there is in sight a possibility Of such
a contingency, we think we might as
well be discussing what we shall do with
the rubbish of Bunker Hill Monument
when it falls, as resolving what we would
do if we had money.
We cannot believe that our brethren
of the press are trying to excite the pas.
sions of the people for purposes which
would move demagognes, but think they
must believe the interest of the State de-
mands the action they advocate. We
cannot believe that they are yielding to
the elamors Of political tricksters whose
only object is to pander to the prejudie-
es of the hour in hopes of political pre-
ferment, but me do think they are UNI
consciously to themselves, giving life to
a lot of starving adventures, who are
willing that the State should sink if they
can swim.
1t is contrary to an Anglo Saxon sense
of justice-aye, decency ola man or a
people to sit as a Judge in his own case,
and the question whether or no the State
of Arkansas owes any given debt, ought
to be decided by the same rules that
would decide whether any individual
owed it, and we think it unbecomng in
the press of the State, or u respectable
number of it, to attempt to induce the
people to measure their obligations to
pay by any but those rules that the ex-
perience of centuries has proved to be
Just and right, i. e. the law of the land
Let us ono and all, discontinue these
attempts to produce excitement, and
promptly rebuke all those who attempt
to make gain out of the passions of the
people. Let us exercise ourselves-those
of us who are blest with financial wis
dom--in solving questions that are pres
ent and pressing. For instance devise
the ways and means for the State Gov
ernment to get money for current ex
penscs. Or, failing in this, advise thu
officers and employees Of the govern
mcnt how they can support themselves
and families without money. Now herr
is an opportunity for some financcr tt
make name. Others of us might exer
ourselves in rousing our people to effort
, to induce immigration-building u
schools, churches, advancing agriculture
&C., but until we have some possibilit,
of having money to pay on bonds, lie
, us rest from resolving what we will, o
will not pay.
When Gov. Garland went into office
our State was in deplorabe situation
yet after full discussion Of our tinar
l cial condition by the Governor and tn
then General Assembly, Gov. Garlan
succeeded in borrowing all the none
{ needed to pay current expenses and sto
the issue of scrip, which had come t
."stink in the.,Hs,,yy.. ss.is5s, of The people
This loan was promptly paid, and ii
State had number of offers Of none
at reduced rate of interest for the ne,
Il year. The last legislature met, spci
:. half fits time in hightempered declam
n ton, about the bonds--showed an in
@ mense amount of bad temper about II
:, state debt generally, and with the aid {
a few blunders from other sources, su
d ceeded in rendering it impossible for Il
c State to getany money. In other word
: undid what Garland and the previo1
9 General Assembly had done.
Last winter the Loughborough bonc
had market value of IS cents. No
they have none. Here are the evils
d the agitation. Where are the benefits
o ssg The New York Daily Sun say.
II is casy enouph for the selt.comnla