Year: 1875

GUY EItNOh ; MESSAGEs STATE OF ARKANSAS. EXECUTIVE OPFICE,l Little Rock, November 1, 1875. l To the Senate and the House of Represent. atives of the General Assembly of the State of Arkansas:

 In assembling now, pursuant to the joint resolution of March 3d, 1875, you find the state more prosperous than when you left the capital at the close of your ardu- ous labors of last winter, and you and the people all have cause to rejoice at the present condition oi the state, as well as her prospects for the future.

 Your work of the past session has been tested, and has met the ap- proval of the people more fully than could have been expected. as much of the Legislation was ex, perimental, and all of it had, un- der most trying and unfavorable circumstances. At this adjourn eel session it is not expected . general system of legislation will be entered into, but only so much as is actually necessary to perfect or make effectual the laws passed at the last session. l do not think it necessary or advisable to call your attention to but few points.

 The board of finance, created at the last session, partly negotiated loan of money sufficient to de fray the current expenses of the government for one year from July 1st, 1875, to July 1st, 1876, but the parties offering to loan the state this money were not satisfied that the board had the power to bind the state by proper writings, or the authority to pledge or hypothecate the bonds of the state to secure the loan, and the money was withheld, and the negotiation delayed till legisla- tion could be had to meet those objections. When these are re- moved by legislation, the money will be subject to the order of the board, to be used as already indi- cated. The board are satisfied that this being done, there will be no further difficulty as to money with which to carry on the gov ernment, and but little if any scrip need be issued, and the board recommend the passage of an act, at as early day as possible, that will secure this loan.

 The board are of the opinion that now it would be well to per init the new scrip, or auditors warrants and treasurer's certiti- cates, issued since the twenty third day of December last, to be funded, under the act of that date, entitled "an act to provide means for paying the expenses of the state government, and to re- tire the outstanding auditors warrants and treasurer's certiti- cates," and they recommend a law to this effect be passed.

 As there is at present large amount of money in the treasury not being used for any purpose, and, as there are outstanding obli- gations of the state, and they rec ommend legislation that will em- power them to apply any moneys in the treasury from time to time not otherwise appropriated by law, to the payment of the obliga- tions of the state in such manner, as in the judgm ent of the board may best subserve the public in- terest, but they shall not, with this money, pay in whole, or in part, any bonds issued prior to the first day of April, 1874.

 It is clearly demonstrated that the rate of taxation is inadequate to the raising of sufficient revenue to carry on the government and meet the interest on the public debt and to support public schools, and the board recommend the revenue law be so amended as to levy for the fiscal year beginning July l, 1875, and annually there after, five mills on the dollar for defraying expenses of the govern. ment, three mills on the dollar to pay the interest on public debt, two mills on the dollar to support public schools, and also q levy of one dollar per capita on every male inhabitant over the age of twenty-one for school purposes the two last items now being pro vided for by law.

 For a more complete and satis- factory working of the finance measur4Dsf last session, the board of finauce should be authorized tc sell any of the bonds provided foi in such act, for cash, or any oi the warrants of the auditor, or treasurer's certificates now out standing, at par--sales for money