Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-12-24

pr;esorsh;n, oae q The greatest Obstacles sosd
lhe advancement Of . new country and nj
Of an old one. 1t has tended %. &
Keep open the public lands Cor entry BY en-
grants mt Government prices, instead of be-
ine enenpelied % purchase cf spectators at {
double cr treble prices. And II - convey
ing into the interior large sums IN silver and I
2uId, there % enter permanently into the
currency Of the country. and place it on .
firmer foundation. IL u confidently believed
that the country will find in the motives
which induced that order, and the happy con-;
sequences which have ensued, much " COM
mend and nothing tn condemn.
Il remains for Congress. Il they approve.
the po.icy which dictated this order, Ia Eh-;;
low Il up IN its various bearings. Much !,
good, in nv judgment, would be pr.,duced by !!
prohibiting sales Of the public lands, except
to actual settlers. at a reasonable redu.tiOa
|of price, and to limit the quantity which !,
shalt be sold to them. Although Il - be |,
ll,eve,i the General Government never ought
to receive any thing but the constitutional
currency in exchange for the public lands,
that point would be of less importance II the
lands were sold for immediate settlement and
cultivation. Indeed, there Is scarcely . mis-
lciief arising out If our present Ianc-svstem.
Including the accommodating aAirplus Of reve-.
nue, which would not be relnedied ~ ~'ssce
! bv a restriction On land sales to actual set
tiers; and Il promises other advan ages 10 the
country in general, and 10 the new states ia
particular, which cannot fail to receive the
most profound CT nsideration Of Congress.
4; Experience continues to realize the expec-
tations entertained as to the capacity ofSiate
Banks to perform the duties Of fiscal agents
for the government, at the time Of the reno
val Of the deposites. 1t was alleged by the
advocates of the Bank Of the United States,
! that the State Blnks, whatever might be the
regulation Of the Treasury Irpnrtment.could
not make the transfers required by the Cow
/ ernn-nt, ,r neg ,tiate the dGnnestic exchan.
ges Of the country. II is now we'll ascertain
Cd, that the real domestic exchanges perform
ell. Through Discounts bv the U:.ited States
! B INK and its twenty five branches, were at
least "ne-third less tina" those Of the dePosite
hanks f'r an equal period Of time, and 1t
cOmpurisOn be instituted between The q.
mounts Of service rendered BY these institu-
), ,iup-. on the broader basis which has been
used b. the advo :ates Of the United States
Bank in estimating what they c.nsid r the
domestic exchanges transacted BY u. the re.
suit wi: be still more favorable to the dePt-
site hunks.
X The whole amount Of public money trans
lferred by the Rank Of the United States IN
ID $50. was SI6,O00.Oo5 Tue amount trans
TERED anil actually p'id by the dep'site banks
in the year ending the fist 81 October last.
was $780, 800; the am'unt transferred
|anJ paid between that period and the sixth
iof November. was $3.50 0oo; and the n
mount Of transfer variants outstanding on
that day was Si4430.ooo; making an apgre.
,!gnte a,f $751; $500. These enormous sums
IOt m~ney first mentioned, have been tra0s-
TERED with the greatest l'romptitude and reg
lularity. and the rates nj which the exchanges
have bcen negotiated previ"u.ly Z" the pms
sage Of the drp"site net. were generally be.
low those charged b. the b INK Of the United
States. Independently VI these services,
which are far gvcnter thin tlsOse rendered by
the hank of the United States. mn its TWEEN.
|ty-five branches, . number "f the deposite
hanks have with q comnscndnble zeal 10 MD
in the Improvement "f the currency, import
ed from abroad. at their own expense, large
sums Of the precious metals, for c"inage and
,IcirculmtNsn.
dict.sns turned .suI in respect To the effect Of
/, the re,nNval oC the deI .osites-a step unqucs-
ti"nab'y necessary y" prevent the evils which
il was lorescen the hank itself wcu'd enjea.
vor IN create, N . final struggle Z" prDcure .
renewal Of its charter. IL may b., thus. ton,
in some degeee, with the further stops which
NAV be taken /" prevent the excessive issue
Of "ther bank paper; but il 10 70 b h"red
that nothing will nOw deter the Federal and
State authorities from the firm aud vigorous
performance of their duties Ia them selves and
!, 10 the people in this respect.
! IN reducing the revenue t. the wants of the
Government, YOU particular attention 10 in
vited to those articles which c"nst.iu.o the ne.
cessaries az life. The duty on salt was laid
NJ = war tax. and was no doubt continued to
assist in providing Cor The payGeos of the
war deOt. There 10 nv article. the release
Of winch. from taxation, would b felt 20 zen.
ler.l'v and ~ benefi. iallv. To this mas b.