Du Buque visitor. [volume] (Dubuque, Lead Mines, Wisconsin Territory) 1836-1837, 1837-01-04

nsued, much to com nend and nothing TO con-
Tenn. 1t remains for congress, if they approve
he policy which dictated this order. to follow
/ up in its various bearings. Much good, in
ny judgment, would be produced by prohibit
NO sales Of the public lands, except to actual
settlers, at reasonable reduction of price, and
10 limit the quantity which shall be sold 10
Them. Although it is believed the general go
vernment never ought to receive any thing but
Lhe constitutional currency in exchange for the
public lands, that point would be of less inn
portance if the lands were sold for immediate
settlement and cultivation. Indeed, there is
scarcely mischief arising out of our present
land system, including the accommodating sur
plus Of re venue, which would not be relnedi-
ed a, once by a restriction on land sales to ac-
tual settlers; and it promises other advanta-
ges to the country in general, and to the new
states in particular, which cannot fail to re-
ceiye the mcst profound consideration of con.
g7ess.
Experience continues to realize the expec-
tations entertained as to the capacity Of the
state banks to perform the duties offiscal agents
for the gfTernment, at the time of the removal
cf the dfposites. 1t was alledged by the adj
vocates Of the bank fthe United States, that
the State banks. ...atever might be the regula-
IONS VI the treasury department, could not
make he transfers required by the government,
or negotiate the domestic exchanges of the
countri. 1t is now well ascertained that the
real domestic exchanges performed. through
discounts by the United States bank and its
tw entytiye branches, were at least one third
less TIA, those of the deposile banks for an e.
ssal reiod Of time, and ifa comparison be in
the an,oInts Of service rem
dered bl these institutions. on the broader ba-
sis whih has been used by the advocates Of
the United States bank in estimating what they
consider the domestic exchanges transacted By
it, the result will be still more favorable to the
deposae banks.
The wloie amount of public money trans
ferret by the bank Of the United States in
1889, was slG,0OO,0OO. The amount trans
ferred and actually paid in by the deposite
bants in the year ending the first Of October
last was 80 ,3l9,s99; the amount transfer
red and paid between that period and the sixth
of November, was S5,399, 900; e. the amount
Of transfer warrants outstanding on that day
was el4.450.OCO; making an aggregate of
$50. &c, 1884, These enormous sums of mo-
ney first mentioned, have been transferred with
the greatest promptitude and regularity, and
the rates a, which the exchanges have been
negotiated previously TO the passage of the de-
posite act, were generally below those charg-
ed by the bank of the United States. Indepen-
IDENTIFY Of these services, which are far greater
than those rendered by The United States bank,
and its twenty-five branches, number Of the
deposite banks have, with acommendable zeal
to aid in the improvement Of the currency, i'm.
ported from abroad, at their own expense
large sums of the precious metals, for coinage
and circulation.
In the same manner have nearly all the pie
dicsions turned out in respect 10 the effect o
the removal Of the deposites---a step uuques
tionably necessary, to preventive evils which
it was foreseen tho bank itself would endeavo
to create. in a final struggle to procure a re
newal of its charter. IT may 30 thus, too, il
some degree, with the further steps which may
be taken TO prevent the excessive issue of 9th
er bank paper; but it is to be hoped that moth
ing will now deter the federal and state autho
rites from the firm and vigorous performance
OF their duties to themselves and to the peopl
in this respect.
In reducing the revenue to the warts of tn
government, your particular attention is invi
ted to those articles which constitute the nc
ccssaries of life. The duty on salt was lai,
as war tax, end was no doubt continued t
assist in providing for the payment of the wa
debt. There is no article, the release Of whic
from taxation. would be felt so generally an
so benefcially. To this may be added a
kinds of fuel and provisions. Justice and b.
nevelencs unite in favor Of releasing the poo
Of our cities from burdens which are not n,
cessary to the support Of our government, an
tend only to increase the wants ofthe destitut,
II will be seen by the report of the secretar
OF the treasury, and the accompanying doc,
ments; that the bank of the United States hi
made no payment on account of the stock hel
by the governmental that institution, althoue
urged to pay any portion which might suit i
convenience, and that it has given no info
nation when payment may be expected. No
although repeatedly requested, has it furnisht
the information in relation TO its condition
which congress authorised the secretary to &C
lect at their last session; such measures as a,
within the power Of the executive, have BET
taken to ascertain the value of the stock, Al
procure the payment as early as possible.
The conduct and present condition Of tn
bank, and the great amount ofcapital vested
it by the United States, require your careful a
March last, and it has now no power but til
j name, style, and capacity, foy the purpose
suits for the final settlement and lisuidation
the affairs and accounts ofths corporation. a,
for the sale and disposition Of their estate, !,
al personal, ard mixed. but not for any 9th
purpose, or In any other manner whatsocyt
J, nor for period exceeding woyears after i
expiration Of the said term of Incorporation
Before the expiration of the charter, the stoc
holders Of the bank obtained an act of intorr
ration from the Legislature Of Pennsylvan
excluding only the United States. Instead
proceeding to wind up their concerns. and =
over to the United States the amount duo
!, account of the stock held by them. the nre,
, dent and directors of the old bank annear
| have transferred the books, papers, notes. :
legations, and most or all Of it's property to -
+ new corporation, which entered upon busine
as continuation Of the old concern. Amona