1782 CONGRESSIONAL PROCEEDINGS. 
Mr. Dinetry. That is, a balance of $160,000 is to be paid to the 
United States in settlement of the conflicting claims? 
Mr. Lacey. Yes; $160,572. 
Mr. Dtnaury. Is there any provision in the bill which preserves the 
right to the United States until this money is paid and the claim 
adjusted in that manner? 
Mr. Lacry. There is a provision by which all of the lands revert 
absolutely to the United States. Not only these lands, but the swamp 
lands and all others. 
Mr. Diyetry. Unless that amount is paid? 
Mr. Lacry. In addition to that amount the State of Arkansas relin- 
quishes all claims set up as to any swamp lands and other lands not 
yet patented to the State. They all are relinquished. 
Mr. Drnetey. And it is, in the judgment of the chairman of the 
committee, a fair settlement of the case, so far as the interests of the 
Government of the United States are concerned ? 
Mr. Lacey. Well, I have felt that while in my judgment a larger 
sum ought to be paid, yet taking into consideration all the elements, 
which have been explained to the House, the antiquity of the claim 
and various other questions entering into its consideration, I have felt 
that it was better to accept the settlement agreed on by the State 
and the two Secretaries as the best that could be done under the 
circumstances. 
I should have made the amount larger myself, but at the same time 
it seems impossible to arrive at an amount greater than that fixed in 
the bill. ; 
* * * * * * * 
Mr. THomas C. McRar. Mr. Speaker, Arkansas came into the 
Union June 15, 1836, with a constitution that contained the following 
provision: . 
The general assembly may incorporate one State bank, with such amount of capital 
as may be deemed necessary, and such number of branches as may be required for 
the public convenience, which shall become the repository of the funds belonging to 
or under the control of the State, and shall be required to loan them out throughout 
the State and in each county in proportion to representation. And they shall further 
have power to incorporate one other banking institution calculated to aid and pro- 
mote the great agricultural interests of the country, and the faith and credit of the 
State may be pledged to raise the funds necessary to carry into operation the two 
banks herein specified: Provided, Such security can be given by the individual stock- 
holders as will guarantee the State against loss or injury. 
Both of the banks authorized by this constitution were provided for 
by the first general assembly of the State, and they were both put in 
operation. 
The first act of the first general assembly was one ‘‘ to establish the 
Real Estate Bank,” which was an institution private in its character, 
with a right in the State to select a minority of its directors, owned 
