Canton herald. (Canton, Miss.) 1837-1839, 1837-12-22


r.t.E. aIsbfmIgHsua IIf'r notes
ro rr rpuHtoHea HHy mft
r.f eartua. HdD s4 altsI ODE expire.
Dun 0I fhe ivo yt1m 81 Boo one
anticipated course tprx.
tm81lIH1rU tbo prohibtiofy clause Of
fhe charter above quoted wu' not nc'
eanpanisdbyany pen1Iiyor oiherspc'
collaboration iOreulofciHriif nor hive
wodnt aoncmIhw lortbc prevention
.ofsnmIaf acts in future.
Butitsnoi IN ibis yIcw Of lhe sub.
Iecf aIouo Tint your interpretation is
renired. The United States IN set.
ding with the trustee for their
stock. hare withdrawn their funds
from thcr former direct liability 70 the
creditors of the old bank, yet notes of
the institution continue 20 be sent
forth in rs name, and apparently upon
the authority ortho United States.
The transactions connected with
the employment Of the bills Of the old
bank are of vast extent; and should
they result unfortunately, the interests
Of individuals may he deeply compro-
missed. Without undertaking to de-
eide how far, or what form, if any. the
trustee could be made liable for notes
which containno obligation on its part
or the old bank, tor such as are put in
circulation after the expiration of its
charter, and without It's authority, or
the government for indemnity in cases
of loss, the question still presses itself
upon your consideration, whether it is
consistent with duty and good faith
on the part OF the government, to wit
ness this proceeding!without a single
effort to arrest it.
The report Of the commissioner of
the general land office. which will be
laid before you by the secretary of
the treasury, will show how the af-
fairs of that Office have been conduct
dior the past year. The disposition
OF the public lands is one of the most
important trusts confined to congress.
The practlcability Of retaining the IT,
tie ard control of such extensive do.
mains in the general government, and
at the same time admitting the terri
tories embracing them into the fede-
raj union as coeQuaIs with the origi-
nal states, was seriously doubted bv
many Of our wisest statesmen. All
tea,od that they would become a
source Of discord, and many carried
their apprehensiQns so far, as to see
in them the seeds of a future dissolu-
ton Of the contedcracv. But happi-
" our experience has already been
sufficient to quiet in great degree. all
such approximations. The position at
one time assumed, that the admission
OF new states into the Union on the
same footing with the original states,
was incompatible with right of soil
IN the United States, and operated as
q surrender thereof, notwithstanding
Che terms of the compacts by which
their admission was designed to be re-
been wisely abandoned.
Whether in the new or the old states.
all now agree that the right Of soil to
the public lands remains in the fede-
raj government. and that these lands
constitute a common property, to be
disposed Of for the common benefit of
all the states, old and new. Acqui
cscence in this just principle By the
people in the new states, has natural.
" promoted disposition to adopt the
most liberal policy in the sale Of the
public lands-a policy which should
be limited to the mere object of selling
the lands for the greatest possible sum
OF money, without regard to higher
considerations, finds hut few adyo- !
Gates. On the contrary. it is rene-il
fa''y conceded, that whilst the model
Of disposition adopted by the govern
nent should always be prudent one.
yet Its leading object oughtto be the
early settlement and cultivation of the
lands sold, and that 1t should discoun-
tenance, If it cannot prevent the ac-
emulation Of large tracts in the same
hands, which must necessarily retard
the growth of the new states, or en-.
trail upon them dependant .enantry.
and It's attendant evils.
(Concluded aert ,csek.)
NnfEICrl L