The Osceola times., 1885-01-24

rate of six per cent. per annum. except s2s..
600, which bear intel cst at the rate Of nve
per cent. per annum.
Though a considerable sum, this is small
debt for state with the resources, taxable
values, youth, increasing population, unset
tied lands material prosperity and growing
prospects OF Arkansas, and congratulate
you that the condition of the state Is now
such that fair, adequate ana satisfactory
provision may be made for the payment Of
accruing interest upon this debt, and the ul-
Innate certain payment of the principal The
honor and interest of the state and justice
To her creditors alike demand that this DO
done
When this shall have peen done, the chief
obstacle TO the states highest prosperity
Will have been removed. We can not now
pay either the principal or accumulated IN.
tcrest. but we can satisfy our creditors that
we Will promptly pay the interest, hereafter
accruing annually, upon our debt, and then
our bonds Will be worth ns much as United
states bonds. think 1t quite probable That
this debt might be funded in twenty year
bonds at rate of interest so reduced that
the interest upon the new bonds would ex'
coed in only very small amount the inter.
est upon the principal of the old bonds, AZ
the present high rate of Interest, and could
not recommend the funding of this debt, un'
less the rate OF interest be greatly reduced,
and the right to pay bonds at any time after
five years be reserved to the state.
consider proper provisions for the state
debt as one of the most important matters
that Will demand the consideration OF your
honorable body.
While am aware that legislation to regu-
late the transportation of persons and prop
erty, and the rates of freight and passaget 10
becharged therefor by railroad companies
In the state, will be attended with great DIM
Guilty and some liability to error and in1us.
tice, and should be most cautiously and well
considered, In view of the magnitude OF the
interests to be affected, and that II should be
entirely free from prejudice and interference
with vested rights, aud liberal To the ran.
roads, and just to the people, consider IL
my dcVy TO call your attention to TINS ques-
tiOn, that YOU may consideT whether there Is
necessity for further legislation In this be-
half, and respectfully refer you to section
10, Article II of the Constitution OF the state,
which provides that "the General Assembly
shall pass laws to correct abuses and prevent
unjust discrimination ana excessive charges
by railroad canal and turnpike companies
for transporting freight and passengers, and
shall provide for enforcing such laws by ade-
Quate penalties and foriCltures.'
The act ofthe General Assembly of March 81,
1883, providing for the assessment for taxa
ton OF the personal property OF railroad
companies in this state, and our supreme
Court, in the case OF the Memphis 4 Little
Rock Railroad Company (as reorganized
against the state, which was proceeding
TO eniOin the collection OF taxes under said
act), sustained the act, and this decision has
been affirmed by the Supreme Court of the
United states, at which rejoice, as belt We
y equ,able, that all persons ana corpora, pc II,
property owned by them in the state. sub
ject TO taxation, at tine s2me rate and by the
same rule.
II is thought that this act so restricts the
commissioners to assess the value of the
personal property of the railroads for taxa
tion that under its operation large per-
centage of the value thereof Will escape
taxation.
II this be so, the act should be so amended
as to remove all restrictions that may pre-
vent the ascertalnment of the true value in
money of such property, as the Constitution
provides, in Section 5, Article lG that All
property, subject TO taxation, shall be taxed
according to its value, that value to be ascer-
tanned In such manner as the General Assem-.
bly, shall direct, making the same equal ana
uniform throughout the state No one species
OF property from which a tax may be col
lected snail be taxed higher than another
species OF property of equal value"
sincerely nope that you may hnd the
financial condition of the state such that you
VIII feel warranted, after providing for the
current expenses OF the State Government,
tue Charitable institutions OF the State and
IT'S industrial University with liberality in
also making liberal provision for the interest
upon the just debt OF the state, and in re.
ducing the rate of state taxation. which,
though burdensome, has been borne with
patriotic patience by the people.
respectfully call the attention OF the Gen.
eral Assembly to the diapidated, unsafe and
unsuitable condition of the buildings for the
necessity for some suitable appropriation,
either for the erection of new buildings, or
such thorough repairs of the old one, as
Will meet the necessities OF the school, and
/ make them at least safe and comfortable.
recommend that the election laws be so
amended as to provide that the elections for
| state and United states officers shall come
! OFF on the same day, thus saving the expense
OF one election to the State, and to the peo-
| pie half the time which Is now necessarily
required To have two elections.
also call your attention to the import
| ance OF legislation to protect our game and
fish, which are being destroyed by whole
sale, without necessity.
In order to complete our exhibit at the
Worlds Centennial Cotton Exposition Mt
New Orleans, and make it what the public
| spirited and patriotic gentlemen OF the state
| In charge of II think it should be, for the
| honor and interest OF the State, further ap-
| preparation OF money seems to be demanded,
| which should be made ut the earliest possible
/ molsent.
Believing that the State Government In all
| Its departments should be such as to give as
surance that the rights of the humDlest will
| be recognized and protectedb by the laws, and
| that none are too exalted to be beyond tho
reach of punishment for their violation,
nothing short of earnest effort upon my part
TO see that the laws shall be so enforced viii
satisfy my serious convictions OF duty, and
am consoled by the reflection that In this
purposel Will lave the sympathy, co opera
tion and support of the General Assembly
and other departments OF the state Govern
ment and of all good people OF the stale.
With sincere hope that your deliberations
may be harmonious and pleasant, anu may
prove OF great beneft to the state, ! am very
respectfully, your obedient servant,
SIMON i. HUGHES,
Governor of the State of Arkansas,