Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-06-17
THE PUBLIC LANDS AND THE
STATE DEBTS,

1t is stated 10 letters from Washington
that the plan Of funding the Public Lands
is slowly gaining favor. Tho propo-
sal, which We have frequently referred
TO is 10 be issued three or four per
cent stock of 100000 600 to be dislri
bnted among the States iD proportion
to their population for the payment Of
the interest Of which, and the final re.
demplIon of the principal, the proceeds
Of the sales Of the Public Lands shall be
pledged. The indebted States receiv-
ing their portion at once, thus anucipat-
ing the yearly receipts from actual
sales, would be enabled 10 relieve them.
selves OF a considerable portion Of their
debts without being obliged to resort to
burdensome taxation. The States that
owe nothing could invest their share OF
the stock as they please, or the annual
interest instead Of the annual proceeds
OF sales under the law as it stands nov.
Thus no new principle would be START.
ed; the measure would only tend to give
immediate efficiency TO policy already
established.
The direct benefits which this mea.
sure would confer upon the States are
too manifest to need illustration. Nor
would the indirect benefits TO the whole
country be less apparent. The creation
of a national stock Of $100,0O0,00O
would bring into being large amount
OF capital which is at this moment par
ticularIy needed. A restoration Of con
6dence would follow, and with it a new
impulse to enterprise.
Another beneficial result would be to
settle and confirm the right Of the States
to the Public Lands and thus remove
that question from further disturbance
The controversy on this subject began
even before the formation Of the old
Confederation. In 1880, Mr.. Madison
wrilng 10 Edmund PeDdIeton, says;
Congress have at length entered Sc
rously on plan for finally ratilying
the Confederation. Convinced Of the
necessity of such a measure, 10 repress
the hopes with which the probable issue
Of the campaign will inspire our enemy
as we'll as to give greater authority and
Vigor 10 our public councils, they have
recommended, in the most pressing
terms, to the States claiming unappro'
priated back lands, to cede liberal por
tioD Of them for the general benefit
As these exclusive claims formed the on
ly obstacle with Maryland, there is nj
doubt that compliance with this re-
commentator will bring her into th'
Confederation. How far the State
holding back lands may be disposed tt
give them up, cannot be easily deter.
mined. From the sentiments Of tb'
most intelligent persons which hav,
come to my knowledge, | own an
pretty sanguine that they will see tn
necessity Of closing the Union in to
strong light to oppose the only expe
: dient that can accomplish it,"
The cession was afterwards made wit
conditions specified. The Land fun
was needed to aid in supplying mean
! for carrying on the war, and it was use
after the war to aid in paying the debt
contracted by the States and the Gen
, eral Government, The assumption @
the State debts by the National Gov
eminent went along with the use Of tn
Public Land revenue-thus keeping i
;, = vie W the principle that The right of prc
: perty in the lands continued with tn
States. Maryland was pertinacious o
. this point from the first, and we belIev
. her good people are equally strenuou
y y for il now. Ball. Amer.