Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1839-07-12

company was Csl.cu " HE NUN II
AMERICAN LAND COMPANY" Mr.
Charles Butler, the brother of the Attorney
General, was made President, with an
ample salary. Mr.. SILAs WR,cHr, Uni.
ted States Senator. uds heavy shareholder;
BENJAMIN f. BUTLER, the cabinet minister
of General Jackson, aods heauy shares
holder Edwin CRoswELL. State printer.
,oas heavy shareholder; most, If not all Of
the ALBANY REGENCY. 1oere heauy share.
holders. Several GOVERNMENT OFFICERS
at the east were heavy shareholders Con.
spicuous locotocos throughout the Union,
and bank oDicers and directors almost innu-
merable were shareholders. The business
Of The company was not confined 10 any
State or section of country. The whole
Union was the field Of its operations.
We are not of the number of those who
unite in general condemnation Of all specu-
latioDs or spectators. Speculations are
commendable when they require great en-.
terpr,ze. exhibit great skill and industry
and while they enrich the SPECTATOR, ad.
vance the interests OF the public, and do
no injustice to individuals. Very different,
however, are he objects ofthe monopoHzing
company of iand specuiators They ad-
vance no interests but their opn. They
buy, not to cultivate and i,cproue The land
but merely 10 eXtott from the actual settler
proft. They do indeed 1--we by the sweat
of the poor mans brow
We can well imagine that a man Of
nice sense Of proprle'y, holding the office
of Attorney General Of the United States.
aud one Of the guardians Of The public do
in, h, oG
law that may arise in the sale Of land,
might find his situation somewhat delicate
from being at the same time member Of
a land company. directly and indirectly
engaged an The purchaqe Of Government
lands. Whether Mr. Butter felt that his
situation as Attorney General and Mn9
SPECTATOR, was somew what like being seller
and buyer at the same time. and for that
reason Determined for the present, to
leave to his brother and his pouIcal assoc
ciates he spoiis by speculation, while he
held on to the spoiis Of oNce-or whether
The claim of Col. Beaubien, to certain lands
in Chicago, in some way conflicting with
he interest Of the North american Land
Company, rendered it necessary for him to
get rid of his stock, tina, his opinions as
interested, we will NOT undertake to decide.
For some cause Mr. Attorney General
Butler thought 1t best to dissolve the ties
between himself and tins land specializing
company. He therefore wished TO sell
out and realise" SO pressing was the
necessity, that his brother. as president Of
the company, was obliged to buy The Attor.
ney Generals stock for the company; en-
hat the company became a shareholder
itself with the individuals composing it!
The price paid bv the President Charles
Butler. 10 The Attorney General. q. F.
Butter was SAID to be an advance OF ttoenty.
five per cent upon The original subscription.
II was also sa I'd that he eastern stockbOl-
ders found much FAULT VII h this transaction.
Perhaps the reader may discover some
explanation Of this matter, in the following
arlicles:-
From The Madisonian.
VAN buren, SPECULAToRs.-lt appears
from intlma'lons IN several quarters. that
sundry of the Government officers, inclu-
ding the highest IN rank and members Of
the Cabinet, have been, or are somewhat
extensively concerned in land speculatIons.
The precise extent we do not undertake
TO define; but they seem TO be of q chasac.
ter worthy to be regarded as Of a demora-
living and vicious tendency. Such Specu-
latons have been complained Of against the
people. But # the practice is reprehensl-
Die IN private citizens, how much more SO
is it in high officers of the General Govern.
ment? We have seen the Glsresses of
1867, attributed bv the President in his
messages, and by his partlzans in all their
writings and addresses, to the mania OF
speculation, and arguments attempted 10
be deduced from the circumstance to adj
vance favorIte measures. But did the
honest people of the country suspect while
he public magistrates were warning citi-
zens Of the evils OF speculation, that those
very exemplary magistrates and officers
were themselves deeply and extensively
embracing the "evil' they so gravey de-
pounced' That they were dssuadng
others from speculation in order that they
might have wider scope and greater profits
for themselves
We cannot put cur fingers positively
upon The s2eculalions that have been allu.
ded to. But we know 80 much Of clrcum-
stances going to prove them that nothing
but the most direct and positive testimony
could shake our belief upon The subject.
x X
We are not alone in our knowledge, nor
in our belief. The Springfield, Illinois
Journal, for example, lntlmates that the
great opposition Of attorney General Butler
to the confirmation Of the Beaubien claim at
Chicago, pas because Of his o,on interest in
another large tract aJoining The to,on, The
ralue of ,ohich ,oouid be greatly enhanced
if this claim ,cas kept out Of market.
From the Buffalo Commercial Advertiser.
DEvELoPEMENTs.- Our readers will re-
member that the Beaublen claim case was
lately decided ~ favor of the United States
by the Supreme Court. The matter in
dispute was a piece of land in Chicago.