Year: 1861

i A few Words to the Merchants and Shop

 Keepers in Little Rock.

 Within the past two weeks the State has issued certain war bonds under the pro-

 visions of an ordinance to raise revenue. These bonds may or may not be issued to the full amount of two millions of dollars. To secure their payment, the faith of the 1 State. her sixteen millions of acres of pub l lie lands and her revenue, are all pledged. To secure the payment of the interest there on, a sufficient amount of specie is always reserved. No bank paper was ever so well secured. The State has done her part She has amply secured their paylnent-she has made them receivable in payment of lands, of revenue and of all debts due to her; and further than this, she has placed them beyond the reach of legislative con trol. She could not make them legal tender but has left 1t to the judgment and patriotism of the people to sustain them. 1t Is said of yon, or of some of you, that you are endeavoring to depreciate these bonds; that you refuse to receive them, ex- cePt with heavy discount, and that you either put higher price on your goods, or take these bonds in payment therefor, be- heath their par value. Let us hope that you are slandered, but if this be true, let me suggest to you that your course will iniure the State and yourselves.

 All that Is needed to make these bonds current and to pass for their full value, Is confidence in them and their prompt ac- ceptance by merchants and traders. They will add two millions of dollars to the cur rency of the country and keep off pressure from the money market. IL is evident to you that it Is for your benefit to have plenty of money in the country, provided 1t Is we'll secured and the holder protected from ultimate loss If you depreciate these bonds you drive them into the hands of speculators, or if you buy them in, you cannot, with good grace pay them out at par and as you know their real value, you will not be fools enough to take less for them You may, by this course, make a few dollars at the expense of the people, but you may find the risk greater than you suppose This shaving and skinning might do in ordinary times, but you should re- member that we are in the midst of revo- lution, and men will not submit to that now which they would at other times.-- The volunteers who have left their homes to encounter disease, danger and perhaps death in defence of their country; who un dergo the hardships and privations of soldiers life will be paid in these bonds. Said one of them to me: "If 1 send my mother home my pay to support her in my absence and these store keepers swindle her out of part of it, their hides won't hold shucks when we get back" This may have been inelegant language, but it was expressive.

 But there are other considerations. You must expect to make sacrifices, and in this case all that is required is not positive losS but that you refrain fIom speculating and shaving at the expense of others Even if you did lose, still patriotism, state pride and a love of the common veal should prompt you to appreciate these bonds. Gentlemen, if the State falls you fall with 1t, and if 1t rises, you rise too.

 The people of Little Rock have been shamefuliy slandered. Failing to appre- ciate the great abilities of some men, for that failure they have been abused and stismatized as abolitionists, and men with Lincolnish proclivites Neighboring towns and counties have been taught to hate and despise Us. If you now, for the sake of greed, sinking all considerations of patriot ism, attempt to speculate in these bonds, and here, where their real value is known, attempt to destroy or impair them in order to make a few dollars, it will pointed and cited as a proof of the charges made against you. Though this county has furnished six companies, and the city three though our women have tciled night and day, and men have advanced money and means to equip soldiers for the field, yet these evi dences of patriotism will avail us nothing if you persist in your suicidal course. If it is told abroad that the merchants at Little Rock refuse these bonds, it will have de- leterious effect all over the State.

 This communication has grown so long that 1 am compelled to defer some further remarks until next week A. r. NJ.