The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-08-18

miliens seven hundred and thirty four thousand
three hundred and seventy-fve dollars, which IS
equal to ttcenty-1trse millions, ty-0Re Htotts-
and and elecen dollars This result is beyond
all doust correct, If the estimated value of the
public lands be II, however, it be conceded
that the lands ought not to be valued at one dol
lar and twenty-five cents per acre, but at sixty
two and half cents per acre, still Maryland
would be entitled to receive her proportion OF
this property, the sum of fourteen millions, flee
hundred and tUerty. fice thousand, flee hundred
and flee dollars.
The opponents of the distribution of the pro-
ceeds of the public lands, urge that their sale
cannot take place at once, and that long time
must elapse before the whole of the public do
main can be disposed Of Hence they argue, that
their real value is the principal which, at
SIX per cent will produce an amount that can be
relied upon as the yearly income from their sales
Thus II the lands will not sell in sufficient guam
| titles to bring In any year more than six
millions of dollars, the inference for which they
conte nd is, that one hundred millions of dollars
IS their full value. 1t is not proposed to enter
INTO any elaborate argument on this point 1t is
sufficient to say that the population OF our coun-
| try has increased, and will continue to increase
| to an extent heretofore unparalleled in the his
| tory of the world. The tide of emigration from
| the old world, as well from the old States of
| the Union, will continue to flow to the public
lands. These causes will keep up the demand for
|
dollar and twenty-five cents per acre, until it is
| exhausted No calculation can be made OF the
| extent OF this demand In one year. The revenue.
from this source, great it has been, will con
tInue to increase. The fact is undoubted that
the number OF acres now amounts to ten hundred
and eighty millions, and that the minimum price
/ IS one dollar and twenty-five cents per acre
This is the important matter. This is the point
to which the attention of our people should be
directed. The consideration that the whole Of
these lands cannot be disposed of at once in some
respects, adds to the imp ortance Of the proposed
distribution to the people Of MARYLAND Our
proportion OF the annual sales, will be sufficient
toPay the interest on the debt of the State and
we Will be enabled to provide sinking fund TO
meet the principal of that debt, when it shall
have be- one due. The possession of the whole
OF our proportion OF the proceeds of these public
lahas' might lead to new undertakings, not war
| ranted by prudence and sound sense when the
share which we will annually receive, while il
will save us from direct taxation, will not tempt
| our people to embark in new enterprises which
may be tso costly for our means.
| What would be the effect on the interest of
Maryland OF the passage Of the distribution bill?
| The debt of Maryland, contracted in her efforts
to complete her gigantic works amounts to fifteen
milliens of dollars. Her. principal works are,
| unfortunately, not completed, and to make them
| available Will require large amount of money
in addition to what has already been advanced
| by the state. These views given, not for the
purpose of advocating the propriety, under ex.
| isting circumstances, of extending the credit of
| the state OF Maryland further than has already
| been done. That subject is not the one under
consideration. The sole object now is to present
picture of the true condition of our state Ii
VIII answer no good purpose to express any re-
gret for the condition of Maryland and Balti- |
more. 1t is sufficient to saw that at present the
state is liable Tor fifteen millions of dollars and
the city of Baltimore for FIVE millions, five hun
dred thousand dollars. 1t is known that the |
principal works in which these large amounts
have been invested, are not now productive, and
cannot be made to produce the interest of their
cost, without further expenditures to large
amount 1t is grave question, whether these
circumstances would justify an increase of the /
public debt; but it is certain that the proposed
distribution OF the proceeds of the public lands
while it might obviate the necessity for an in
crease of the debt OF the state, would save our
people from direct taxation on account of that
already incurred.
The immediate and certain effect of the dis
tribution Of the proceeds of the public lands
would be to enable Maryland to complete her
public works and render them available. Balti-
more would share full portion of the benefits
to be thence derived. With a rail road extend
ing to the Ohio, by the nearest and most direct
route from the Atlantic, with canal from Cum
berland to her harbor, added TO the facilities of
quehanna, who can foresee what will be the con-
dition OF Baltimore at the Termination of the
next ten years! Her population is already from
one hundred and ten, to one hundred and fifteen
thousand. Her property is estimated now to be
worth ffty-five millions of dollars With the
advantages certain to result from the payment
of the debt of Maryland, and the completion of
her public works, would it be unwisc to predict,
that by the beginning of 1850, the population Of
Baltimore will have increased to one hundred
and fifty thousand and her property will have
augmented in value t1 eighty millions of dol
lars? The distribution Of the proceeds of the
public lands would not only enable MARYLAND to
complete her public works and extinguish her
public debt, and thereby avoid the necessity Of
raising an immesse direct tax, but permanent
fund would be provided for the education of her
children. The benefits to flow to us and to our
pssterity from the Distribution. OF the public
lands, cannot be adequately described. With
the adoption OF this measure and the abandon
ment of rash experiments, there would follow as
necessary consequence, the restoration of pub
lie confidence, the establishment of the credit Of
the state of Maryland and city of Baltimore,
upon firm and permanent basis, and all kinds
OF business operations would be attended with
an abundant and profitable return to the indus
trious and enterprising.
To secure these blessings what is necessary?
When the expenditures of the general govern
ment shall be reduced to the lowest possible
amount consistent with the interests wf the peo-
pie, there will be no difficulty in accomplishing
the distribution of the lands. Maryland will
not stand alone in the effort to produce this much
desired effect. Pennsylvania, Vermont, Rhode
Island, and other states already advocate i. -
New York and Virginia will unite Most Of the
old States and many of the new States will sup
port it. The election sf General Harrison will
secure its adoption.
This most desirable distribution will never be
made until the principles Of economy and reform
practical operation in the administration of
the general government. The enormous expendi-
lures for the year 1887, the first year Of Mr.. Van
Buren's administration, placed the public treasu-
ry in such condition, as would probably have
induced his party to oppose this measure, even
if under other circumstances it woald have
been favored by that gentleman and his friends.