Timeline
1840 "Modern" Presidential Campaign
While Arkansas could not fulfill the Spanish explorers' dreams of gold, other explorers found different valuables from the earth. Early in the year the Gazette announced the discovery of anthracite coal in northwest Arkansas. By the end of the year, the Spadra Coal Company was in operation.
Nationally, the Whig campaign for the presidency keyed on personalities rather than issues. "Tippecanoe and Tyler, Too" was the slogan of the "log cabin and hard cider campaign," which featured placards, emblems, campaign hats, huge rallies and log cabin floats. William Henry Harrison, the hero of the Battle of Tippecanoe against the Shawnee Indians, was pictured as a simple man born in a log cabin, opposing the aristocratic Martin Van Buren. Arkansas Whigs attempted the same kind of campaign. In Little Rock, a log cabin and liberty pole were raised by the Whigs who appeared to have strong support, at least as long as they were serving hard cider. At the culmination of a statewide convention, more than 1,000 Whigs gathered at the Arsenal grounds to listen to campaign speeches for Harrison.
Arkansas, still solidly Democratic, voted for Van Buren, while nationally Harrison and Tyler won. The local Whigs conceded the governor's race and the Democrat, Yell, won without opposition. Cross was reelected to Congress.
Little Rock's new fire engine proved of little use without hooks, ladders and trained firemen as fire destroyed a half-block of downtown on April 26. Luck and a recent rain were credited for saving the surrounding area. Less than two months later Little Rock was hit by a violent tornado which destroyed or damaged businesses, residences and steamboats. The offices of the new Whig newspaper, the Arkansas Star, especially suffered from the storm.
In a desperate and technically illegal, action, the Real Estate Bank sold its last 500 bonds at reduced value to raise the money to pay interest on its other bonds and to meet further obligations. Because the bonds were discounted, they brought only $121,336 instead of $500,000. These bonds were then sold to an innocent third party. The legal problems produced by these "Holford bonds" extended beyond the Civil War.
