Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-09-26
POLITICAL,
from me Neo York Courier & Enquire.
HE PROPOSED SACRIFICE OF THE
PUBLIC IANnu

/
ter oithe trust reposed by the states in Conpfess L
the cesslon oil tho public lands; and the irus, M.
sumeo oy congress ~ the purchase of Louisiana aud
FLORIDA. with money from the common Treasury
OF 'he onlon We have given brief ac count OF the
manner IN which This question was first scented
TO the Senate by Mr. Clay nv chairman of the com.
,n'uee OF manufactures. The topics submitted to
hn were the eSpedency OF fnduc ing the price of the
pnohc lands and the expcdency of eedug them to
inc states IN which they lie. Both propositions he
''"o-nned. The reduction of pi;ce NO considered
yesterday IN single aspect-its grass injustice TO
the present andhoders of the country; il may be
pesenIedn other points Of view equally striking. aud
equally well calculated To rouse the attention oil the
peopleto tins great and absorbing interest, before
shall be too late.
II Is assumed by Mr.. Clay that the price of the
public lands ought not To he reduced. because sue h
reduction would lead 10 THEN absorption by spec
i'iion. Any material reduction OF price" he al
CUES. would excite and stimulate the spirit OF spec
" ulatlon, now dormant probably lead to a transfer
" OF vast quantities of the public domain from tho
control OF Government TO the hands spec ulaiprs
" Al the existing prlee and with such extensive dis,
3" llcs as the public consanly offers in tho markat
" there is no great temptation TO speculation. The
demand is regular, keeping pace with the progress
OF emigration, aud Is supplied on known aud mod
" crate terms. II the price were much reduced
the strongest Inducements 10 cnprnssment of The
better lands would be presented to large capitalist
" and the cmigrant, instead Of being able pun
chhse from his own government, upon uniform and
established conditions, might be compelled 10 give
" much higher and more 6ueluatng prices 10 the
- speculator."
The experience of the last few years has proved
the truth otilese remarks. Already the price is low
enough 10 excite aud stimulate speculation
ready millions OF acres have been taken by specula.
tors, AT the uniform aud established prices Of the
government, and held by large capitalists or dis
posed Of the actual settlers NJ much higher and
q n1iIp n Hon. hall
the iavorte officers and agents OF Gen. Jaeksun's
administration can best tell. The records of the
American Land Company may throw some light on
the subject. Mr.. benjamin +. Butler, President
Jackson's Attorney General, drew the articles OF
that associations and received il ~ said an advance
on his stock, that he night Withdraw aud keep
his hands clean !" Amos Kendall received n larpc
bonus. rs the consideration OF his influence with
the Hero OF New oreaus that the riph, lands
might be put INTO the market al the right time. MIR.
David lIenshaw, Ex-tocctor of the Port Of uston,
and the Presidents and Directors Of the Pet Banks
Of that city. and other Postmaslcrs Public Piin-
ters, and Pet Bank Officers throughout the
Union. know something OF the proceeds Of which,
even al the rate Of 81 % AN acre, millions on mil
lions of The Public Domain, most desirable in oea-
tion have been removed from The reach OF The actual
settler, and are now held At high prces hy specula
Tors Ifihe land had been reduced TO 90 . cents
the acre, double the amount that Is now held by
these conn anles aud spectators would have passed
into their hands for the same money that has beco
actually paid.
But there is still another class Of gentlemen who
can thiow some ligh on the matter and furnish us
with additional arguments against reducing the price
OF the public lands. The long list OF defauling re-
ocivers, who have been caught with their pockets
empty, and their hands full Of public lands prove
that the apprehensons OF Mr.. Clay were too
well founded and that the p,ce is already low enough
to tempt the extreme cnTidny OF speculation. IN
this connection shall draw largely upon the let
tiers OF Mr.. Y. NJ. Gareschc. an agent high in
the confidence OF Mr. Woodbury.. aud employed by
the Department IN an iiineraut examination OF the
land Offices. The evident ,xiiy of the mans NOR
als-fnr lie writes 10 the Secretary as u snindler
would write To an accompllce-dose not render his
evdcnc. the less worthy of credr, When IT 5eais a.
aainst the administrations
We will just look into the letter Of Mr.. Ga csc he
dated at Columbus, the 1ilh OF June 1887;
somewhat celebrated letter, figuring largely in sun
dry reports. This cite with the view OF present
ing specimen OF The speculation that was carrIed
on, thfoug hout I'll the land offices. aud that led TO
the vast abstraction oil the public funds that was
made by the receivers.
The account Of the receiver" (Bog3) says Mr..
Garesche, (which have made out and transmit
herewith, presents against lin balance Of $685.
$685. His assets, OF which also send you the
list, amount 10 Sol, 54998 rating the land at 81 25
only, bot might probably realize double the amount.
The min seems really pcutent; and am inclined
10 think in common with his friends, that he Is hon
est, and has been led away Gom his duty, by
the example OF his predecessor, aud certain loose
ness in the code OF morality, which here dose not
move 10 so limited a circle as il does with At
home.-Anofher receiver would probably follow IN
the footsteps o The Two. gu will not be surprised
therefore, If | recommend lis being retained III pre-
ference TO another appointment, for he has his hands
full now, and will not be disposed TO speculate any
more lie tells me tina, he is about sell
"A o al nd
ther equations. will enable him TO discharge large
portion oi his debt to the Unled States before the
expiration ofthe present quarter"
In the list Of Mr.. Boyds assets" there appear,
besides S35, $50 in the oil individuals, received
account Of his private sales, 20 900 of land
. unsold," and an interest OF half profits about
Is cor acres more,
Here five and thitty thousand acres Of the
Public Lands. At the price Of % acre, passing
from the " control Of Government TO the hands OF
a single specuator--anj that speculaor govern.
ment agent, buying up the peoples land wIth the
peoples money, and then advising Government, as
Il delauter, of what he proposes 10 do with ms
lands !" Tins single fact is sufficient prove the
Justice and wisdom Of Mr. CLAWS objection a re-
ducion of price because even at The present price
the inducements speculation have been TOO strong
for the honesty Of about all the individuals who
have been engaged inihe land Offices. Bui the gen
ela experience Of the years $50 and 1886. indepen
DENLY OF the specuaiions oil government officers, o
/ the American Land Company aud other mammoth
Joint stock associations furnishes an unanswerablt
argument against the policy OF reduclioo,It IS bn
seldom that the actual settler" WV purchases o.
/ lhe government. Speculation has laid hold OF the
most desirable locaities ard he buys OF second and
third hands al a large advance on the govermnen
,,ices H.. would tins condition have been i'm
! waved, IL tie large capitalists had been enabled Il
eneross twice thrice the number Of acres ha, the,
I ,l,a