Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1835-02-26

TIC lands, while IL would act in fleet as n bounty 10
| me purchasers from the Government bv enabling
'hem TO acquire more land for the same sum of mo-
hey, would act at the sumo time ns n tax unon the
chfe body OF land holders who constitute the great
""'' VI our popnialion--a tax GA them immeasnrn-
o'y greater than the bounty of the purchasers
Inc Gove'nh1ent ofthc United States is. in fact.
| Inc great land dealer OF the country. md ms such
mas The power, by raising or reducing the price of
lis lanos TO reduce or raise IN grcnter or less de-
| gree, the value of lands every where and of
| course 10 affect In the same degree the propcry Of
| 'and holders Throughout the Union To what cx-
,o''' "ny gwen reduction of the price Of public
,ahus may affect the price Hands generally, would
DC nihcolt, 1t not impossible To ascertain II would
he greater or less, according to the circnmstnnces
The price Of land in the adjacent portion of the
country, or that from which emigration principally
ilowed would be reduced nearly in the same pro.
portion VITA that OF the public lands that is. If the
price OF public ands be reduce one-half lands ad.
1"cent or lying IN the emigrallng portion of the
country, would generally fall one half. while the
more remote would be less affected in proportion 10
distance md the absence of emigration
But, It may be safely assumed, taking the whole
country, that the actual fall in the value OF lands
generally, IN the hands oflne holders would great.
~ exceed the actual reduction OF the price of public
'ands' 10 illustrate # the price of the latter be
reduced one-hat, which at present would be sixty
two and onchalf cents per acre, lands generally
throughout the country would be reduced IN value
| per acre much more thnn TINT sum md if the far
greater quantity held 10y the whole body Of land
Proprietors compared to tie quantity sold by the
Government, be taken into the estimate, some idca
may be formed how great the aggregate loss of the
| proPrietors generally, would be- on eny reduction
price, compared with the aggregate gain of the
I purchasers IA bnu
none who know the public spirit md enle hte ned
patriotism of that great and respectable portion of
our citizens, can doubt their CHI, ern ncuuiescencr
IN the sacrhcr should the public interest or the
fundamental MAXIM which ought 10 govern IN the
nsposllion ct the public lands, require but 9th
erwise II would be pa,n and palpahlc sacrifice OF
one, ana that the largest portion of the community
TO the other, without corresponding beneh' In
presenting this view, 1t is not the intention of your
committee to offer any opinion the propriety of II
graduated reduction as measure of general policy
IN the price of such public lands rs have remained
long IN the market unsod, and of which there is no
immediate prospect of making sale Mt the present
price, because of their inferior qnality-their case
is dstlnsu,shnble from that OF the great body OF the
public lands-becausc the immediate effects of such
reduction would obviously be to raise instead OF re
ducIng the revenue, and would of coulse increase
instead of diminishing the difficulty under consdc-
ration.
Having now shown that no other red oction OF the
revenue can be effected under exciting cifcumstan-
ces, than the progressive reduction already Prov
dcd for by the act of 2I March, 1888 in either OF
! the great sources Of our public income with the
exceptions already stated. your committee will
next proceed TO inquire whether executive patron
age can be reduced by reducing the expenditures OF
the Government
The result of their investigation on this point is,
that for reasons, which will hereafter be offered n
reduction of expenditure under existing cireum
stances, would tend to increase instead of reducing
Executive patronage But, if It were otherwise ii
would be found utterly Improcticoble for reasons
already assigned, TO reduce the expenditure much
below the income. Experience has rbnndantlv
! proved that so long as there is large surplus m
! the Treasury, the interests IN favor of lis cypcn-
dIturc Will ever be stronger, than those opposed to
1t and that no prudential consideration, arising
/ from the necessity of accumua,ing funds To meet
future wants. or the hazard Of charging Executive
patronage, or the danger of corrupng the political
and public morals of the country by useless and
protuse expenditure, any other Whatever are
sufficient 10 resist the 'eelpaton to expend.
If one orthy % lect OF appropriation is defcn-
! ted, another, with no greater claims on the public
bounty, or justice will sver stond ready to urge its
with incessant and useless Efforts to guard the
! Treasury. But were it practicable, with an over.
flowing Treasury to brng the expenditures with
! IN proper limits, such Is the present condition OF
| things, that to reduce expenditure would as has
been stated, increase the patronage Of the Exccu-
! tive, and that to an extent so great that oil ct
| Of expenditure can be suggested having pausi-
bic claim on the justice or bounty of the public,
which would tent half SO much to increase his pat
ronage, as leaving the public money uneypended to
accumulate, as surplus revenue, IN the DcposItc
! Banks.
To realize the truth Of this remark, it must be
borne in mind, that the dcpositcs IRE under the cx-
elusive controi of the Executive that they arc de-
posted in banks selected by him that they hnvo
the free use of them wi'hou, compensation TO the
public, and they may be continued or dismissed. rs
dePosrorIcs fthc public funds, nj the pleasure of
the Executive.
w 9TH these facts before u.s. the result must bc OH
vious. To accumulate permanent surplus reyc-
nue. IN the banks, is IN feet, but to add much adj
d,tiono bank captal-capital, in this case, exclu-
svely under Executive CONTROL withou, check or
limitation ani with its increasing amount, daily
giving to him greater control over The Deposite
Banks and, through them, over the banking insti
tutions of the country, generally; thus adding the
deep and wide spread influence Of the banks 10 the
already almost overwhelming patronage Of tho Ev
ccuiiye
As the expenditure cannot be reduced the next
inquiry is whether some object Of general utility,
in which every portion flhe country has an inter
est, may not be selected, fixed and permanent
subject on which to exPend the surplus revenue
| Your committee admit rha, if such an obJec, Of
! n rouII he srlrctcI und n oil ytIa