Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-05-15

,iclc, land, any commodity whatever is in mar.
Nol' me price at which it is sold, will affect, i'll
some degree the value of the whole ofthat article
whether exposed TO sale not. The influence o
| reduction OF the price ofthc public lands would
PROBABLY be felt throughout the Union; certainly in
1t" INC western States and most in those which
contain, Ur are nearest TO the public lands There
'"S"t 10 DC the most cogent and conclusive rea.
| SONS Tor adopting II measure which might serious
~ Impair the value of the property Of the ycoma-
y oil the country. Whilst it is decidedly the
most important class in the community, most
patent, patriotic and acquicscent in whatever pub
| hc P"i'cy rs pursued, it is unable unwilling to
| resort 10 those means of union and concert which
"'her interests employ to make themselves heard
| ana respected. Government should therefore, feel
sci' constantly bound to guard, with scdu!ous care
inc rights and welfare ofthc great body our yeo-
many: Would ii be just towards those who have
heretofore purchased public lands at higher prices
10 say nothing to the residue of the agricultural
interest OF the United States, make such roduc-
ton and thereby impair the value ofthcir property?
ought not any such plan of Hsluction if adopted,
TO be accompanied with compensation for the injury
winch they would inevitably sustain?
= a material reduction of price would excite and
stimulate the spirit of speculation, now dormant
| and probably lead TO transfer of vast quantities
OF the public domain from the control of Govern
mcnt 20 the hands of the Spectator. At the ex-
sting price, and with such extensive districts as the
public constantly offers in the market there is no
great temptation to speculation. The demand
! rs regul lar, keeping pace with the progress of
| Sh'si'tIoii. ana Is supplied known and
moderate terms. If the price were much
reduced, the strongest incentives TO en-
grossncn of the better lands would be presented
| to large capitalists; and the cmigrant instead of
| BENG able to purchase from his own Government
upon uniform and established conditions, might be
compelled to give much higher and more fluctua-
ing prices to the Spectator. An illustration of
this effect is afforded by the military bounty lands
granted during the late Thrown into the
market at prices below the Government ratio, they
| of finn md
have principally fallen into the hands of spocula-
tors, retardimg the settlement of the districts which
| include them
B. The greatest emigration that is believed now
to take place from any of the States is from Ohio
kentucky, and Tennessee. The effects ola material
reduction i'll the price of the public lands, would be-
LIST, 10 lessen the value of the real estate in those
| three States. I'd. To diminish their interest i'm
the public domain, as common fund for the bcmc
mt OF all the States, And, 3dy. To offer what
would operate as a bounty TO further emigration
| from those States, occasoning more and more
lands, situated within them, TO be thrown into the
market, thereby not only lessening the value of
their lands, but draining them both of their popu-
lation and currency
And, lastly, Congress has, within few years,
made large and liberal grants of public lands to Sc
vcral States To OHIO, 922, 937 acres; to Indiana
| 3Sl,I2 acres; TO Illinois, 4S0 0GG acres; and to
Alabama, 100000 acres; amounting, together to
2,lSI,O6 acres Considerable portions of these
lands yet remain unsoId. The reduction of the
|
the value of those grants, as well as iniuriously
affect that Of the lands which have been sold in
virtue of them
On the other hand, it is inferred and contcndod
| from the large amount Of public land remaining
unsold alter having been so long exposed TO sale
that the prceat which it is held is too high. Bat
thls apparent hardness is satisfactorily explained
ny the immense quantity OF public lands which
| have been put into the market by Government. Ii
is well known that the States have constantly
and urgently pressed the extinction - the Indian
titie upon lands within their respective limits; and,
alter its extinction, that they should be brought
into market rapidly as practicable. The liberal
policy of the General Government, conciding
with the wishes of the States, has prompted
IL To SATISFY the wants Of emgrans from every part
of the Union, by exhibiting vast districts of land
Tor SALE IN all the States and Territories, thus Of
ferng every variety of climate and situation to the
tree choice OF settlers. From these causes, it has
resulted that the power of emigration has been
tally incompetent to absorb the immense bodies Of
waste lands offered in the market. For the capa-
city to purchase is, after ALL limited by the emgra
ton, and the progressive increase of populations
If the quantity thrown into the market had been
quadruPcd, the probability is, that there would
not haVc been much more annually sold than
tually has been. With such extensive fields for
lection before them, purchasers embarrassed to
the choice which they should make, are some
times probably influenced by caprice accidental
causes Whilst the better lands remain, those of
secondary value will not be purchased. A Judi
couS farmer or planter would give one
dollar and quarter per acre for first. rate land
| than receive us donation lana of inferior quality
II lac were compelled TO settle upon it.
1t is also conehded that the price of the public
land is tax and that, at period when, in consc-
qucnce of the pay Inent of the public debt and the
financial prosperity of the United States the Co
Vernment is enabled TO dispense with revenue,
that tax ought to he reduced and the revenue arr
sing from the sales be thereby diminished, In the
first place, it is to be observed that it, as has been
before stated, the reduction OF the price of the
public lands should stimulate speGuation the conse-
quencc would probably be, at least for years,
augmentation of the revenue from that source
Should it hayc the effect of speculation supposed
it would also retard the settlement of the new
States, by placing the lands cngrosscd by specula
tors i'll anticipation of increased value, beyond the
reach of cmigrants. if it were true that the price
= demanded by Government, operated as tax, the
question would still remain whether that price ex-
= cccdcd the fair value of the land which cinigrants
= iii the lubIt of purchasing? and if it did not,
: there would be no lust ground for its reduction.
And assuming it TO be Il tax it might be proper to
inquire who pays the tax? the tho old States
the States that send out, the States that re-
: ccivc the Gmigrants! In the next place, regarded
c as tax, those who have heretofore made purcha-
sCs at the higher rate have already paid the tax,
r and much deserving the equitable cousGcra-
ton of the Government, as those who might mere
after be disposed TO purchase at the reduced rate.
IL is proper TO add that by the repeal and reduction
contemplated of duties upon articles of foreign mn
port subsequent purchasers of the public lands, as
i far they consumers of those articles, Will
share in the general relief and will consequently
y be cnabcdto apply more Of their means TO tdc pur-
l. chase of land.
= But in reasonable sense can the sale of the
, public lands be considered the imposition Ct q
c tax. The Government in their disposal, acts as
# a trustee for the whole people Of the United
States, and i'll that character, holds and offers thcu
n in the market. Those who want them, buy them,
L because it is their inclination to buy them There