Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-06-26

| E.o,,,sos !, consderod tho scbome If cession
a.. -, - ,,o;oo,. ,,a,,,eoo, TIE
r"o"o VIZ ~ 80 IooJJ, W. 80. -:
report hiaoe u" hPri, 1907 Pfeseh.S inc views
entertainer oy tue commttee on that Topic; anu
although am not IN the habit oil quoting from my
own productions, trust the Senate will excuse me
on this occasion for avaing myself of what was
then said as il will al least enable me 10 econo.
,oiso NV brea,b and strength ash son,e friend |
~ ,na3 ,ba Soilo,n;n, ,assaaos. t,nL;ob ,,ore an
" III, IL h., 20 t. Sasa,oI.
coro'h8y reau Wy aho'nei Se"a'o'l
i "Whethe. the question Of a transfer of the pub
lie lands be considered in the limited or more ex-
tensiye view of it which has been suited il is one
of the highest Importance, and demanding the most
deliberate consideration. From the statements,
founded OIL official reports, made in the preceding
part Of this report, it has been seen that the guam
iity of unsod and Incorporated lands lying with
in the limits Of the new States and Territories is
$40 s7l, 1853 acres; and the quantity beyond those
limits is $50 900 OOO presenting an aggregate of
900 S7l 1873 acres. 1t is difficult to conceive
question Of greater magnitude than that of reln-
iauishing this immense amount of national property.
a Estimating its value according to the minimum
price, it presents the enormous sum of AL 1853 $780,
SOL. If it be said that large portion Of it will new
CIR command that price, il is 10 be observed on the
j other hand that as fresh lands are bsoupbt into
market and exposed to sale at public auction, many
L of them sell at prices exceeding one dollar and
. quarter per acre Supposing the public lands to be
0 worth, on the average, one-balf of the minimum
price, they would still present the immense sum of
1861 ,794s $40. The least favorable view which can
~ be taken of them is that of considering them cap
ital yielding present. an income of three millions
y of dollars annually Assuming the ordinary rate
of six per cent interest per annum as the STANDARD
to ascertain the amount of that capital, it would be
s. fifty millions of dollars But this income has been
;, progressively increasing. The average increase
during the last six years has been at the rate of 90
IS per cent per Supposing it continue in the
, same ratio, at the end Of little more than four
= years the income would be double, and make the
ca pital 300 000, 600. Whilst tire population of
l. the United States increases only three per cent per
Is annum the increase Of the demand for the public
lands is at the rate of % per cent, furnishing
Of another evidence that the progress of emigration
and the activity of slaves have not been checked by
&c the price demanded BY Government.
IL ain whatever light therefore, this great subject
is viewed the transfer of the public lands from the
=, whole people Of the United States for whose ben
III eft they re now held to the people nhabiting the
a. new States must be regarded as the most momen-
II tous measure ever presented to the consideration
is of Congress If such q measure could fnd any
e Justification il must arise out of some radical and
e incurable defect in the construction of the General
n Government propery to administer the public do.
" MAN. But the existence of any such defect is con-
o. tradicted by the most successful experience Nc
s. branch of the public service has eyinced more svs
lie TEN, uniformity ard wisdom, or given more gene
raj satisfaction than that of the administration
as the pubic lands.
it "lf the proposed cession to the States were
I'd to be made at fair price, such the General Gov
"a eminent could obtain from individual purchasers
NJ under the present SYSTEM there would be motive
for it, unless the new States are more competent T.
y dispose of the public lands than the common Gov