Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-25

ton referred TO them. Under either constructions the
resolution OF lsG made il lawful receive new
dunn OF payment for the public lands IN the notes of
banks pnyab" and paid demand in the legal currency
| Of The { Stalrs'
From ths irmc therefore the officers of Tie Govern
compelled to receive in payment for all public
lands, specie, Treasury notes, The bills notes n
the Bank of the u payable demand and were
also permitted receive the of other banks which
were payable and paid demand in the legal currency
OF The U. Stales and in addition 10 these media OF
payment they we're compelled 10 receive mississippi
land scrip for lands sold in the Mississippi Territory.
thus remained the law upon this subject until the pas.
sage OF the act Of the 2lh of April l520, entitled An
act making further provision for the sale OF the public
lands This law abolished credits upon sales Of public
lands from aud after the Isl day of July 1890 nnj de.
c!ared thai every purchaser ct land -oid public sale
thereafter shall on the day Of purchase, make complete
payment thefe!o and the purchaser private sale shall
produce TO The register OF the land Office receipt from
the Treasurer of the from the receiver Of public
moneys Of the district for the amount Of the purchs
money any tract, briUre he shall enter the at
the land Office
The fourth section Of the act makes provision for The
sale OF such lands had been sold under former laws,
and had reverted should thereafter revert, the
United States in consequence OF the ymen the
purchase money and also Of lots and tracts heretofore
reserved from sale and contains proviso in the fol-
lowing words:
"Prorided That no such lands shall be sold al any
public sales hereby authorised for less price than
dollar and twenty five cents an acre, nor any other
terms than that Of cash payment and all the lands Of
fered al such public sales, and which shall remain
sold al The close thereof. shall be subject 10 entry
private sale in the manner and at the price,
with the other lands sold al private sale al the respective
land offices.
Although the terms of this law and especially those
poyed in the pro,Iso above quoted, nor any other
farms han init Of cash p"ynent, would seem 10 favor
the idea that s the intention of Congress from and
after the day fixed in the law TO part with the public
domain for ''cash, for moasy only, in the strict and
proper sense OF the word; and although the policy
Of the law, in the abolition Of all credits and tie great
reduction OF the pce 0. the lands, from two dollars
10 dollar and twenty-five cents per acre, would
seem 10 have the same bearing and although the com.
mlee infer from the lapse of time and the returns Of
sales that the Treasury notes and Mississippi land scrip
had ceased great degree, II not altogether 10 he
presented in payment for lands yet they learn that
change as TO the currency, or medium OF payment,
introduced into practice IN consequence Of the pas
cage Of this act they content 10 assume, for The pur
pose of the argument, that change in this respect,
intended By 1t, while it certainly will not be
tended that it is susceptible of any construction winch
add 70 the media Of payment authorised by former
acts Of Congress, make the receipt OF any such me-
dunn compulsory, which before its passage merely
pernIssiye.
The committee find other Law affecting the currency
or medium Of payment to be received for the public
lands, until the passage Of the act Of the 3Oth day of
MAY, 1880 entitled IAN for the relief Of certain Of
cers and soldiers Of the Virginia line aud navy aud Of
the continental army during the revolutionary war
The first section of this act makes il the duty Of the Sc
oil The treasury, commissioner oil the
neral Land Office, Ia issue certhcaCS scrip 10 certain
officers soldiers sailors and marines, vino in The
service of Virginia, her State establishment, during
the revolutionary war aud who by the las and resou
tons of the State, entitled TO military land h"un
lies upon the terms aid conditions pointed in the
The first clause Of the fourth section of the Get is
in the following words:
.SEc. 4. .YaQ DC ii fgriher en0cicd That the ceri
ca,cs scrip, be issued BY virtue of this shall he
receivable payment for any lands hereafter To be pur
chased private SALE after the shall have been Of
frcd public sale and shall remain unso!d at any o.!
the land offices 81 the 5. established to BE-
bshed in the States OF ObI", Indiana and Illinois
The sixth section of this act is in the words following:
"SEc e. int Lcu further Cuaci'd That the provisions
Of thr fist and fourth sections OF this act shall extend
t., and embrace Of military land warrants issued
by the United States in satisfaction OF claims for bounty
land for services during the revolutionary and that
.he laws, heretofore entc:rd ptpvdng for the issuing
said warrants hereby revived and continued in force
for two years
The first clause IF the seventh section is ~ follows:
CSC = ind be further eR1ccd That the provisions
Of this sh III also be- deemed aud taken extend 10
all the unsarisfed warrants of the VrgnIa army
lIurnial establishment
These provisions added another medium Of payment
for tie public lands in what has been commonly demo-
minated 1.-The Virginia land scrip subject to the !ni'
latnns expressed.
On the 80 day Of March 1886 The charter of the last
Bank of the United States expired by It's lime.
ton and the institution, for banking purposes, ceased
10 exist that day; and By law %! Congress passed
on the 18th day Of June l-3G, the 18th section of the
charter making It's bills and notes receivable IN payment
Gr the public dues repealed.
This is believed to have been the exact state Of the
law in reference to the currency, media of payment,
receivable for the public lands at the time when the
Treasury circular of the ilh of July 1886, issued
Prior To this date the committee suppose the law OF
the 3sl of March, 1914 making the Mississippi land
scrip receivable IN payment Tor pubic lands IN the MIS-
ssippi Territory had become obsolete by the entire
ccpi and canceIng of the stock issued; and is mat
ter Of public no,orety that the Treasury notes auhoriz
ed issued by the several laws be fore referred of
1872 lSl3 1914, and 1918, had been, long before, 20
far wholly redeemed and cancelled 10 render those
laws for every purpose Of this inquiry, also obso
rte The currency, or media Of payment, receivable
for the public lands therefore, at the date of this or
der had become reduced by the repeal of laws, the
expiration of laws, and the extngushment Of public
LabIiIies 10 specie and " Virginia land SCRIP
the receipt of which compulsory, and notes
Of banks which payable and paid on demand, IN
the legal currency Of the United States the rece OF
which merely permissve. The circular acted upon
the bank notes merely and was in effect direction 10
the receivers of public moneys for lands not {" use tie
permission granted by the joint resolution OF 1876 asst
bank notes far as the payments for lands were con
cerned This suspended the receipt Of the notes in this
branch of the revenue, and left the payments for lands
to be made in specie and Virginia land scrip.
The reasons which prevailed upon The mind OF the
then President of the United States direct the ccu.
lar be issued given in the itself IL recltes,
i'm substance, that complaints had been made OF exten-
sive Frauds pracsed in the sales of the public lands; OF
vast speculaons in those lands, under the system OF
sale, and payment then in use; Of alarming attempts to
monopoze large tracts Of the lands in the hands OF in
dvidual and associated propreors of The aid gwen TO
effect all these objects, by excessive bank credits ey
dangerous, if not partial facilities, through bank dra,s
and bank deposites of the general evil influence likely
10 result the public interests by these proceedings OF
the danger the public Treasury from this rapid sccu'
mutation Of bank credits in lieu of money, IN It's aVor
well the danger to the currency OF the country ge
nerav from the unprecedented expansion ct credits
and the further exchange Of the public domain for cre
dts in bank or bank paper. Then follows the manda
tory part of the circular ia these words:
tshe President, Of the U. States has ven directions,