Year: 1874

Some weeks ago We called attention to
the fact, that the Railroad and Levee
Bonds were unauthorized and void be
cause the 9th Section Of Article 10Th OF
the State Constitution, forbid the loaning
of the credit Of the State for any purpose
without the consent Of the people
thereof, expressed through the ballot
box"


BY the Little Rock papers Of the goth,
We see Gov Baxter has arrived at the
same conclusion, SO far as Railroad
Bonds are concerned, and has had the
boldness and patriotism to express his
opinion and peremptorily refuse to issue
bond. applied for by the Central Railroad.


The Governor clearly shows that the
pretended vote on the question, in 1865,
was a mere nulity and gave no authority
to the Governor to issue bonds. The
question, as we before maintained, never
was legally submitted to the paonla. The
act provides for vote at the general
election in November, 1868, upon the
question of +" for railroad" and against
railroads." when the constitution con-
templates direct vote upon the question
Of "loaning the credit Of the State.
Many, no doubt all, with few exceptions.
who voted on the question, were merely
Influenced to do SO by desire to have
railroads, as they are known to be beno
fcial to State, without knowing that tho
credit of the State was to be loaned for
the purpose Of constructing these rail-
roads. SO II it has been made operative
before the election, it would still have
been trick which should never be al
lowed to rebound to the benefit Of Rail
road. rings.


The position taken by Gov. Baxter is
impregnable and the Supreme Court can.
not but follow him. And thanks to him
one load is lifted from the shoulders Of
an outraged people.


In our next issue, we will publish the
letter Of the Governor, which is lengthy,
in full in order that all may see and read.
Every tax payer in Arkansas ought to
know the glad tidings. Here is one
grand swindle brought to naught, by the
moral courage aud honesty of the Ex
ecutive, and all thanks to him for it. The
language Of this letter sounds strangely
coming from the Governor Of Arkansas.
We have not been accustomed to hear
such from that source for sometime.


Clayton and Hadley were too busy
looking out for plunder, and for ways
and means to rob the people, to discover
such Gagrant error as the illegality of
the issue of these millions OF bonds, and
IL they had discovered it they were too
deeply interested in the RING to Withhold
the bonds. So now We may expect to
find Clayton and Dorsey, arrayed in bit.
ter hostility to the Governor. BE it re
mombercd that Dorsey was said to be
Baxtcr's candidate for the U. s. Senate,
and herce Baxter deserves the more cred.
it in this day and time for the course he
has taken. II is well known that the
men who have been drawing these aid
bonds have never held them, but convert
ell them into currency at some price, and
It is highly consoling to the present hold
ers, and the Governor tenders that con-
ISOLATION, that they did not pay much, so
they wont te much losers.


We will have more to say on this sub
jcvt hereafter. The tuture vt Arkansas
begins to brighten. We find Governor
who dares to beard the Railroad Ring,
and to refuse their demands for more
money. With the experience we have
had Of Railroads, we think the people
will never consent to loan the credit Of
the State to any railroad enterprise. The
Cairo and Fulton, the only complete rail
road in the State, never had one dollar Of
State aid.