The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-08-31
From the " Y Times.
AMERICAN LAND COMPANY-GOyERN-
MENT sPECULAToRS-SPEC CIR
l. GIIIaR

During the administration OF General Jackson. At
forney General Butler. Senator Wright STATE Printer
Crosi1eH, together with President Van Burens son
John and mostof the influential partizans Of the ad-
mrisration throughout the Unon conceived the idea
Of amassng princely fortunes by of associang
their wealth and monopolzng oil the public lands that
would be required for immediate settlement and cult
walton by the emigrants focking coun-
try. They had before them the example or the Holland
Land Company, whose purchase consisted OF single
tract in the State Of New York, but from which ample
dividends were annually distributed among ia stock.
| holders. The Holland Land Company was a small re-
tail shop ia comparison with the mammoth concern OF
these government spectators under the name OF "the
Ameriedn Land Company" Attorney General Boiler
prepared the articles Of association and Senator'S men,
bers Of Congress- cabinet minister's and almost all the
officers Of government throughout the Union became
stockholders. Some contributed money in payment OF
stock, while others who were Immediately connected
with the administration. and were supposed to be Of
great importance TO the operations Of the company,
were allowed to pay in that new cunency-inIln
in section where public lends were in the mar
ket; and the best lands were speedily taken up Town
ship after township thus fell into the hands of these mo-
noposis; so that the emgrans were obliged to pass
through wilderness Of land belonging to the Ame-
rican Land Company" To waste lands Of the govern.
ment, not yet taken up. The emgrant had therefore
TO choose whether he would pass on through the lands
Of this company, to purchase lands at government
prices. or settle on the possessions of the American
Land Company, at an advance in price which the spe-
culaors had added To the original The agencies
Of tins company established by the side Of the GO
vornment land receivers Many OF the emgrants paid
the advance and settled upon the lands Of the compa-
ny yet too many to sui. the rspacty Of the specula-
tors, plunged into the wilderness aud passed through
the company's lands to The lands Of the government.
This would not do. The American Land Company
coveted all the money Of the emgrans.
That Influence, therefore, which was expected from
members OF the cabinet SENATOR'S &c. was called into
action.
Something required to be done, which should
more efiectualy prevent purchases from government,
and limit the sales to the American Land Company
These influences were brought to bear upon General
Jackson aud the specie circular the consequence.
by this circular. the receivers Of money for government
lands were directed to receive nothing but specie
while the receivers Of the American Land Company
were allowed to receive good bank paper. The diff
Guilty OF obtaining specie and transporting i TO these
remote regions, was great, that the cmgrant
found that bis purchases Of the American Land Com
pany, at great advance upon Government prices were
more advantageous than TO obtain specie and buy Of
Government
From this time, while every other interest of the
country was suffering by unnatural course Of things
the American Land Company was coming money;
and Attorney General Butler was able to sell out his
interest at on advance of twenty-five per cent as was
said, and never denied
When Senator Wright one Of the original projectors
and stockholders Of this company returned from Wash
ngon, he boosted to Gov Marcy that he had advised
Gen. jackson TO issue the specie circular.
The purchases by Mr.. Wright's Land Company had
already been made, and the circular could only affect
the company benefcaliy, by driving purchasers, who
could not obtain SPECIE to the agents OF this company
when, with handsome advance upon Government
prices, good bank bills were received in payment for
lands.
The causes and Influences which produced the specie
circular from Gen. Jackson originally, operated upon
Mr.. Van Buren,, and induced hmm to continue H.
Wright, Butler, Croswel, &c having witnessed the
great benefits which the original specie circular had pro-
duccd, not to the American people. but to the Ameri-
can Land Company. easily prevailed Mr.. Van Buren,
to continue it for the benefit OF that same interest,"
They have reaped rich harvest the Of the Presi-
den, being leading reaper.
Such the Influences that have for years past di-
rccted the affairs Of country The organization of
this specializing Land Company by the officers OF go.
the public prints, and the Of its projec-
tors given length and never has there been denial
from The Globe, Argus, Post, New Era, or any other
administration paper
They may deny that the object Of the specie circular
was to benefit the American Land Company, yet none
can fail that such its effect upon the com
pany--and they will not deny that issued under the
direct influence Of Butler, Wright, &c the fathers Of
this company. We content that under such state
oil uEdsputed facts, TO let the public determine whe-
Their Wright and Batter did not advise the specie cir
cular Influenced by the interest which they had in the
American Land Company.