Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-05-16


la RochesttB N. y. II Public Meeting was
held, (27lh Aprl) which was attended by prom
insnt men 81 both political parties, who came
TO the following conclusions, If not with entire
ununlmity at least with an apparent concur
renee:
Resolved, That tho Treas ny order prohib-
Ting the receipt at tho land office OF the Uni
ted States of any thing but specie in payment
for the public lands, is now affecting quite IN
juriously the interests OF The country, und par
ticulary so of Western New York.
Resolved, That we consider honesty, as re.
spccts nations us well ns individuals, always
the best policy, and that any effort Oh the part
Of the government 10 prevent lis citizens from
pa wing their honest debts TO the citizens OF an
other cannot be otherwise than Immoral in
principle and pernicious in it's tendency.
MEMORIAL.
To His Erctiieacy The President fine U.s.:
Your mcmoriaists, citizens Of Rochester, IN
The State of New York, respectfully represent,
that the Treasury order requiring specie pay
ments for public lands, although II has had
beneficial effect 10 checking excessive overtra-
ding and spcvulalions, which have brought up
on The country the most disaster Gus results, is
now operating most unlavoraby upon the oi-
forts which are making 10 restore confidence,
aud return 10 a regular business, and they
beg leave TO slate what they believe 10 be its
practical operation and effect upon the public
interests, and to solicit its early revocation.
The Banks in the extreme Western States,
have called in almost their whole circulation,
and can issue no more while specie bears
high premiu.n, and instead oil u Legitimate ban
king business which ls now impossible, ii is
believed that much oil their capital has been
employ cd in The purchase and sale OF distant
bank notes and specie, with those emlgfants
who are purchasers oil lands.
The Banks in Western New York are con-
tinualy called on by enisIants for specie to
90 West, and in return they call on New York
city Banks 10 replenish their vaults.
The city and country banks thus continual
ly drained Of specie which The ordinary course
oibusness does not return, are obliged 10 with
hold their discounts, which 10 a considerable
extent might he granted il the treasury order
was revoked, and the present unexampled
pressure might, in a great measure, be relic
we'd.
Ii is believed that while so great differ ence
exists between the prices Of lands in the older
states, and those Of the government at the
west, that the treasury order, except as it pro-
duccs pecunary embarrussments, Is no check
10 purchases-the extra cost per acre pad for
specie being comparatively small but this cx-
action produces a very great irritation among
the settlers who are compelled TO SUBJ il TO it..
This charge OH purchases is almost entirely
b0rne by The actual settlers, large speculators
procuring eastern bank drafts ard certificates,
| are enabled 10 get spece in large sums at par
or low premiums, willie the actual settler, ig-
| norant Of the manner of doing il, is compelled
either 10 carry silver or pay n premium for
gold, which, being in demand, will sell for an
advance at The country banks in the state, or
take with them bank notes ON which he must
pay in tie vicinity of the land Offices, u very
high premium. Having no secure places 10
deposite his money, VIII lie looking up his land,
he is obliged 20 pay it,
These expenses and vcxa,ons often induce
the emigrauis who intended TO purchase, TO re-
! turn Disguised with the connity, and not un-
frequently 10 purchase oispccufators at advan-
crd prices who readily take their bank notes.
Believing it 10 be the true policy and the wish
Of the government TO afford TO actual settlers
all reasonable facilities in the purchase of pub
lie lands, they are well satisfied that the Trea-
suiy Order, instead of being beneficial, is 4 ve-
ry great injury 10 them, as well ns the whole
country, and therefore earnestly desire that it
! NAV be resClndtJ j..