True Democrat. (Paulding, Miss.) 1845-18??, 1845-12-24

revulSions, gain or other causes, to which
they are constantly exposed. The Secre-
tary Of the Treasury has in all cases, when
it was practicable, taken collateral security
for the amount which they hold, by the
pledge of stocks of the United States, or
such ofthe States as were in good credit.
Some the deposite banks have given this
description of security, and others have
declined to do So nsr
Entertaining the opinion that "the sep
aration OF the moneys of the government
from banking institutions is indispensable
for the safety of the funds of the govern
ment and the rights of the people," re-
commend to Congress that provision be
made by law for such separation, and that
a constitutional treasury be created for the
safe-keeping of the public money The
constitutional treasury recommended is
designed as secure depository for the
pubic money, with out any power to make
loans or discounts, or TO issue any paper
whatever as currency or circulation.
cannot Doubt that such a treasury as was
contemplated by the constitution, should
be independent ofaIl banking corporations.
The money of the people should be kept
i'll the treasury ofthe people created by law,
and be in the custody OF agents of the peo-
pie chosen by themselves, according to the
forms of the constitution; agents who are
directly responsible to the government,
who are under adequate bonds and oathS,
and who are subject to severe punishmentS
for any embezzement, private use, or mis-
application ofthe public funds, and for any
failure IN other respects to perform their
duties. To say that the people or their
government are incompetent, or not to be
trusted with the custody oftheir own mon
ey, in their own treasury, provided by
themselves, but must relyon the presidents,
cashiers, and stockholders cf banking cor
porailons, not appointed by them, nor res
possible TO them, would be to concede that
they are incompetent for sclEgovernment.
In recommending the establishment of
constitutional treasury, in which the public
money shall be kept, desire that adequate
provision be made by law for its safety, and
that all executive discretion or control over
1t shall be removed, except such as may be
necessary in directing its disbursement
III pursuance Of appropriations made by
law.
Under our present land system, limiting
the minimum price at which the public
lands can be entered to ST 25 per acre,
large quantities of lands ofinferior qualities
remain unsoId, because they will not COM
mand that price. From the records ofthe
General Land Office it appears, that, Of the
public lands remaining unsold in the seve-
raj States and Territories in which they are
situated, 80, l05,577 acres have been in the
market, subject TO entry more than twenty
years; 49,63S,644 acres for more than 10
years; 73, 064, 600 aares for more than ten
years; and l06,l76, 96l for more than five
years. Much the largest portion of thsSe
lands will continue TO be unsaleable at the
minimum price at which they are permit
ted to be sold, so long as large territories of
land from which the more valuable por-
tons have not been selected are annually
brought into market by the government.
With the view to the sale and settlement
of these inferior lands, | recommend that
the price be graduated and reduced below
the present minimum rate, combining the
sales at the reduced prices 10 settlers end
culIivators, in limited quantities. lfgrad-
unted aud reduced in price for a limited
term TO 81 per acre, and after the expira-
ton Of that period for a second and third
term TO lower rates, large portion ofthese
lands would be purchased, and many
worthy citizens, who are unable to pay
higher rates, could purchase homes for
and their families. BY adop- !
ting the policy of graduation and reduction
ofprice, these inferior lands will be sold
for their real value; while the States in
which they lie will be freed from the in
ifnot injustice, to which they
are subjected, in consequence OF the United
States continuing to own large quantities
Dfpubic lands within their borders, not
liable TO taxation for the support OF their
local government.