Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1836-07-29

PuohC u'oHey' unu W Tue ueposte oo"nSs
providing for the payment of government
lands in gold and silver, has been issued by
the Secretary of the Treasury. The effec,
Of this prohibition will probably be to raise
the value of those lands, which has been
bought by means Of drafts or certificates of
deposit while il will not prevent the pets
from extending facilities to government
jobbers and specuators.-.Atlas.
CIRCULAR.
To Receivers Of Public Money, and to The
Deposite Banks.
Treasury Department, July 1896.
In consequence of complaints which have
been made of frauds, spcculatlons, and mo
nopolies, in the purchase of the public
lands. and the aid which is said to be given
to effect these objects by excessive bank
credits, and dangerous, if not partial. facil.
tiles through bank drafts and bank depos-
ties. and tho general evil influence likely TO
result to the public interests, and especially
the safety Of the great amount of public
money in the Treasury, and The sound con
diton Of he currency Of the Country from
the further exchange o: the national do
main in this manner, aud chiefly for bank
credits and paper money, the President Of
the United States has given directions, and
you are hereby instructed, after the 18th
day of August next, TO receive in payment
Of the public lands, nothing except what is
directed by the existing laws, viz gold and
siver, and in the proper cases, Virginia land
scrip; provided, that till the 15th of De-
cember next, the same indnlgencles hereto
fore extended as TO :he kind of money re-
ceived, may be continued for any quantity
of land not exceeding three hundred and
twenty acres 10 each purchaser who is an
actual settler. or bona .Jide resident in the
State whore the sales are made.
In order To secure the faithful execution
Of these Instructions, all Receivers are
strictly prohib ted from accepting for land
sold any draft certificate, org other evidence
Of money. or deposi'c. though for specie,
unless signed by the Treasurer of the U.
States, in conformity to the act Of April
"a, 1920. And each of those officers is
required TO annex TO his monthly returns to
this Department, the amount of gold and
silver respectively. as well as the bills re
ceived under the foregoing exception; and
each deposite bank is required to annex to
every certificate given upon deposite OF
money, the proportions of it actually paid
in gold, in silver, and in bank notes. All
former instructions on these subjects except
as now modified. will be considered re-.
naming in full force.
The principal objects Of the President in
adopting this measure being 10 repress al.
legged frauds, and to withhold any connte-
nance or facilities in The power ofthe Gov
eminent from the monopoly of the public
lands in the hands of spectators and CAPT
| tallsls, to the injury Of the actual settlers
in the new States, and of emigran's in
search of new homes, as well as TO dlscour
age he rninous extension of bank issue md
bank credits, by which those results are
generally supposed to be promoted. your
utmost Wig lance is required, and relied on,
| to carry this order into complete execution.
LEVI WOODBURY.
Secretary Of the Treasury.
We do not speak Of the measure which
the above embodies, for we regard the
whole procedure which it indicates either
as an experiment upon public credulny, Ia
be used at the coming election, but to be
abandoned before the time comes for en-
forcing il, or as q measure of the same ar
bi,rary character as the removal of the
public depostes in 1888, emanating from
the imperious will of an irresponsible Mag
isirate, the execution of which will not only
effectually cripple the deposile banks, but
produce universally a derangen,en, of all
the business Of the country.-.Nit. Int.