The Van Buren press., 1877-10-02
THE VOICE OF THE: PEOPLE i!

and which they are unremitting in their
efforts 10 iasten upon the State, is begin
ming to recoil upon their own heads
The people are examining the question
for themselves. Whenever men, having
the good of the State at heart, take II
dispassionate and unprecedented view OF
the plan proposed by the administrations
Of Cows. Garland and Miller, and the Fl
nance Board, for the settlement Of the
Indebtedness of the State, there is but
one conclusion arrived at, and that is,
that the State cannot suffer by this man
ncr of settlement. The people-the
thinking mon of the State--arc all right.
1t takes no argument to convinced them
that if any one of them owes Tom, Dick
or Harry, and they have his notes, and
half of them are outlawed, and cannot
be collected, but that he is willing to pay
in full portion of what he owes and
that, if Tom, Dick. and Harry, offer to
give up ALL of his notes for what he
partly owes, and is willing to pay, we
repeat it takes no argument to induce
him to accept the proposition, ut once,
This is just the proposition made by tho
State Board Of France, to the bondhol.
dcrs, aad they are willing to accept the
compromise, Common honesty, as well
as common sense, teaches us that we
should accept the terms offered, and that,
too, very willingly, and thereby put our
State on substantial and prosperous
basis. We started out, merely to call at
tcntion to an able, as well as common
sense, letter, which we find in the West
ern Immigrant, from the pen of G. w.
Cunningham, Esq, of Dardanelle, as
follows:
ED. WESTERN IMMIGRANT AS express
sion of sentiment on the Adams-Redtield
proposed plan of settlement OF the finan-
ces of the State seem to be in order,
shall ask no apology for submitting my
views on the proposition. We are told,
by gentlemen of undoubted character,
that this plan, if adopted by the legisla
ture, will save the State $4,000 less
than she actually owes, besides the diff
ference in interest on the proposed new
aud the old bonds, which, in three years,
amounts to the neat sum of S3l 900, ma
king the debt, taking Gov. Miller's fig
urcs MS correct, $ll8,600 less than we
could undoubtedly owe at the end of
three years. This plan of settlement
seems to me the surest and most honor
able way out of our financial troubles,
in the absence ola better plan, and with
out any more accusations of corruption
against honorable gentlemen, whom the
State is proud to claim as citizens, trust
it will be adopted. 1t would seem that
gentlemen of the opposition have, in the
absence OF stout argument, rcsorted to
the too common weapon eff ridicule and
villification, but the people at the polls,
will surely condemn such eXpediencies.
| have been, as you doubtless know, from
the beginning, opposed to paying fraudu
~ 9n sschfiSem aS III It takes the Wind out Of
my sails. The holders of our good Sc
curities propose to discount these heavi-
ly, so to speak, and pay a portion of that
discount to the holders of the fraudulent
securities, to quiet them and save the
State the character of reputation. Now
this is purely business transaction be-
tween the two classes Of securities, and
it seems to me downright impertinenee
for us to object. The parties who own
the good bonds, want to create market
for them, and this can only be done, by
preserving the States reputation !
am in favor of getting off with our cred
itors on as easy terms as we can, and, at
the same time preserve the reputation
of the State as much as possible ; but our
friends Of the opposition seem to direct
their efforts at the destruction of the
credit of the State first, and then | sup
pose they intend to enter upon the doubt
iul contest of getting rid of our debts.
| We don't want to take any chances in
this matter; we must preserve our repu-
tstion by paying some of or debts, or
else pay none and ruin it.
| One common argument of those OBJ
posed to the scheme of adjustment, is
that Major Adams, who has taken an ac-
tivointerest in the matter, owns large
amount Of the bonds. Well, admit that
he does, although he says that he does
not, is this any reason why the interest
of the State should not be conserved BY
adopting the schemo' What do we care
who holds them? Some men are so
afraid of doing somebody little good,
that they risk doing everybody harm, or
else they are so afraid Of doing some
body harm, that they do nobody any
good. Now, in conclusion, the rcpresen-
tative of the young men of the State,
who, crc Pong, will have to assume the
burdens and responsibilities of govern
ment, l would ask that the character of
she State be transmitted to their care,
clear of the odous and infamous faint OF
reputation. &. S. CUNNINGHAM.