Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-04-30
LAND MANIA.

| ne rage Tor speculation IN idnO
which exists at present, must have {
tunnel y cheek. or it will be the mean:
Iof running thousands OF the citizen:
OF Indiana, and of retardlng the pros
/ perity OF our country. Since the
passage Of the Internal improvement
biiI, twice or three times as much
land has been purchased from the la1o
offices in Indiana. as was ever bought
! IN the same length Of time before.
Were this land bought by citizens
of other States, who come among VI
10 cultivate the soil, we might CON
slider it favorable omen. Indeed.
the legitimate effect Of the passage OF
the Internal Improvement bill, would
be 20 bring such persons, with their
lcapital and industry, within our. Dor
ders, TO help US clear our forests, cul-
tivate our land, and render it asource
of wealth, and carry on our works OF
| Improvement. But as If determined
TO thwart this wholesome and desi-
red natural effect, our citizens are put
ting every cent OF money they have
or can borrow, into the land office
for land which they cannot improve.
Their money 10 taken across the
mountains for the support OF the office
holders of the General Government,
or expended for Improvements, light
houses, and Notifications on the sea
board; and their land lies unpreduc-
tive for years. They will hold their
land at high price for speculation,
and play the "dog in the manger,'
neither improveing it themselves nor
allowing Others TO do so.
The capital of the Bank has in ma
nv instances been loaned to land spec
ulators, and thus diverted from Its ie-
Ultimate object. But what IS most
to be deplored, as having the most
whitening effect upon the prosperity
of our State, is that many farmers
are selling their young cattle, horses,
hogs, and more produce than ought
to be drained from the country, and
paving. the proceeds into the land
offices, for land which they will not
cultivate, and from which they will
not reap a farthing's worth Of pro-
duce for many years. Far better
would it be for the State, and for far
mers generally, if they would turn
their whole attentions and their en-
tire resources to the cultivation Of
what land they have, and to raising
their young stock, and thus retain
the profits Of its growth, instead of
selling it to their wiser neighbors Of
Ohio and other States; even should
they after getting what land they now
have we'll stocked ard under good
cultivation. be obliged at some future
time to pay a higher price for an ad-
dItonai quantity o. land.
It's laudabe IN a farmer to provide
land for his children; but if he has, on
hand. one hundred dollars in money.
and has eighty acres of land partially
cultivated and stocked. II would be
better for himself and his children
that he should employ that money
IN the purchase of Your stock and IN
the improvement Of his farm. than 10
Law 1t out in the purchase of new land
from which he will receive no income
for five years, even admitting that at
the end of that time they paw hun.
dred dollars for the same eighty acres
of land.
But farmers are not alone IN this
wild rage for land. The land mania
RACES among all classes OF community;
the citizens OF villages are employing
all the money they can gather. in the
purchase o. town lots a, exorbtant
prices. and they hold them at prices
still more exorbltant, neglectlng TO
build or make any improv ements; and
when emIgrants from abroad CO a
mong them to settle, roof is not to
be found TO cover their heads; and
lots are held SO high as to prevent
them from purchasing. and drive
them TO another part Of the country.
These are gorgeous errors-errors
that will have tendency TO convert
what m ght be our greatest blessings
into 4 curse.
II is TO be feared that many of the
citizens of Indiana have already con-
traced SO great an amount OF debt.
and so far exhausted their resources.
that nothing but food OF en- Migration
and capital from abroad. and the mo-
ney that will be expended among
them for Internal Improvements, can
save them from bankruptcy and ruin.