Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-04-27
"a COMMON FUND.-

! The Lynehburs Vrslnian, by very plain Illus.
tratOn, exposes IN. iAacy OF the notion, that the
Land Fund is not distributahle. In addition, TO
what ~ stated by that PRINT 1t may be stated, that
there existed no Union, at the time of the Deeds Of
Cession, which would have enabled lust dsposi-
| ton to be made OF the Fund, except by Distribu
uon. II the Federal Constitution, which was not
then IN existence had never been formed. the Land
Money, according to the Loco Foco doctrine. would
have remained IDLE and unavailng in the hands Of
the Confederation; after the payment Of the
debt OF the Revolution, It would have had no coca.
sion Tor money-possessing, rs 1t did, very limited
! functions
The VHg'nan IS replying to a Loco Foco writer,
and thus, eoncusNelv, upsets all his Arguments
I'm his second leuer he contends that If the lands
were designed as trust lund IN the hands OF 90
vernment, and that trust has been fulfilled il is clear
that the government Invested OF all nht whatever
IN regard TO this subject Our answer TO this is
that the trust has not been fulfilled, the deeds nj
eession requiring that that government should hold
the lands in perpetuity but not as a source of reye
nue. TO itself The deeds were drawn " i,h remarka.
bic care and precision of language indeed as #
foreseeng the purpose TO which the Land fund might
be perverted, TO throw around the equal rights of
The States an lmpregnoble barrier. The Virginia
deed, for example, declared that the fund derived
from the proceeds of tho lands should be for the
use aud benefit Of the Smtes.-in what wly1 BY
pouring It into the treasury, and nppropriatlns it to
the ordinary expenditures Of the federal governmen7
No. But, according to their usual respective pro
portions N the general charge and expenditure. >
Let It lie remembered that this deed was made under
the old Confederation system and prior to the ador,-
ton OF the federal constitution, when the Respective
proportions OF each State in the general charge
and expenditure could be asceTtained with absolute
certainty. Congress then possessed no power of
evyIng duties on imposts, or of raising revenue in
any other way. The States raised it a II, and Con-
gress made annual acquisitions upon them for the
amounts which they were severally required 10 con.
tributc according to a fixed and equal ratio. The
interest Of each of them in the Land fund therefore
bore an accurate proportion 10 the amount which
each was required TO contribute 20 TIE general OK
penditlre' Thus; II a rtquisition was made upon
Virginia Tor 800, 900 and 50 much Land was sold
during the year enttei her to the sum Of $50 900
she was compelled TO raise the additional sum Of
$4,000 by taxes upon her citizens 10 make up the
deficiency; and, by parity Of reasoning as well as
according to the strict rules Of justice. II her interest
m the land sales amounted to $3.50 600 she ,gouli
have been entitled to the surplus Of $4,000 10 90
into her own treasury When the constitution was
odop'ed, the rights of the States were not in any
manner abridged, but were. on the contrary, IN ex
press term affirmed. They arc now as much cnt,tl.
cd to their dstribuiive share in the Public Lands ms
they were then. And IS manifest that II is only
ny distributing the proceeds Of the sales that the
injunction Of the deed can I've complied with. for II
those proceeds flow into the national treasury N be
drawn out 10y appropriation, for the purpose Of de
irnying the ordinary expenses Of the national go
vernmeni, II IS manifest that so fir from each Sno
having the use and benefit Of the lands ACCORDING 10
their ualrsspecve proportion in the general charge
ana expenditure a few Of the States IN which
there are annually large expenditure will receive
more than their SHARE while others not 80 fortunate
will ret less, and some Of the interior States in
which there are No forts, arsenas nor docks nor
yards nor vessels Of war; nor troops will ob.
tain scarcely dOlar. II is only bv jisttbutio, |
the proceeds that the right of the States TO an EQUAL
participation in the Land fund can 10 secured |
nnj the federal government is the permanent trus.
tee, to which is entrusted tho solemn duty OF pro
teeung and guarding the right Of each and all Of |
ihtm.-And We may remark here by the vev
though not strictly applicable to the subject, that
MI CaIhouns proposition 10 divest tho federal 90
vsrnmcnt oia control Of the subject by surrender
ing The management of the Lands, on certain CON
drons, 10 the States IN whi'h they lo would be n |
papab'e breach OF irust md faithless disregard
Of the mos. binding obligation.
"Bu then We arc met With the objection that il d |
n common fund.- and the idea is to some extent
prevalent that " is therefore not properly a disfi-
buable fund. The falacy Of this idea however mnv /
he shown by very simple illuspalion-tbus A, |
Z, and g, wealthy capitalists. propose 10 throw to
gcther into a common fund.- So 900 each Tor Dur
poses Of traffic, and, not being disposed 10 engage
In the drudgery Of business themselves, they ar
point ID their ngcnt to MANAGE the business, with
written instructions 20 appropriate the profits 10
their and benefit, according 70 their proportion in
the general charge and expenditure Of the oint con
Germ suppose ater paving all expenses AZ tho end
OF The FIRST year, u finds that he has made a pro6t
of S3OOO--What does he do with II Has he. the
agent a, ", ard g. tho right to claim IL for him
Sell and appropriate II 10 his own usesi Just as
much ~ tho general goscrnment, the agent Of the
states Tor tho management and disposition ri the
l'nnd iuhd, has 10 s'fc upon the money arising
from mo sales Of the Lands, and by singular por
Version ofthe meaning oflanguage, call It 'cvenue!
NO The lund, though "a common fuud,' IL neverthe-
cst disiubunb'o; md M duty would be u distri.
butte 10 A, u aud q, $1,000 apiecc, the distnbuuye
share Of each IN this common fund.-"
ir-T@ Sec the extract from M Preston's Speech.
Loco Focoism, slippery as an cal though Il be,
r.,,ot rfud. tle fo,sc NJ HE Ilot.s IL d. rrucf,