Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1845-12-18

against the casualties and excuses, reyulsions,
! suspensions, and deialcaiipns, To which, from
! over issues, over trading. an inordinate desire
| for gain, or other causes, they are constantly
( exposed The Secretary Of the Treasury has
i, aliases, when it was practicable. taken col
lateral security for The amount which they held,
i by the pledge Of stocks Of the U. S.. or such
\ Of thegSiates as We're in coed credit Some OF
( the deposits banks have given this description
Of security, and others have declined to do SO.
! Entertaining the opinion that''tb separation
ct tiieSraoneys Of the government from banking
institutions is indispensable for the safety Of
! the funds of the government and the rights Of
! the people, recommend to Congress that
provision be made by law fer such separation,
| and that constitutional treasury be created
for the safe keaping Ct she public money. The
! constitutional treasury recommended Is design
ed as secure depository fer the public money
tMithout any power to make loans or discounts,
| or to issue any paper whatever as currency or
circulation cannot doubt that such treasu-
~ as was contemplated by the constitution,
should be independent Of all banking corpora
tons. The money Of the people should be
kept in the treasury Of the people created By
law, and be in the custody Of agents Of the peo-
Pile chosen by themselves, according TO the
forms of the constitution; agents who are di
rectly responsible to the government, who are
under adequate bond and oa:hs. and who are
subject to severe nunshments for any enibez-
Element, private use, or misapplicaton Of the
public funds. and for any failure in other res
poets to perform their duties. To say that the
people or their government are incompetent, or
not to be trusted with the custody Of their own
money, in their own treasury, provided by
themselves, but must rely on the presidents.
cashiers, and stockholders Of banking cerr ora
tons, not appointed by them, nor responsible to
them, would be to concede that they are incom
petent for self-government.
In recommending the establishment ola con
stitutonal treasury. in which the public mon
eysha!l be kept desire that adequate pro
vision be made by law for its safety, and that
all executive discretion or control over it shall
be removed, except such as NAV be necessary
in directing its disbursement in pursuance of
appropriations made By law.
Under our present land system. limiting the
minimum prce al which the public lands Can
be entered to 81 Is cents per acre,large guam
tiles OF land Of inferior quality remains unsold,
because they will not command that price
| From the records of the General Land Office
spPSalSs tudtp W IiuDtC 'itS
unsoil in The several States and Territories in
which they are situated 59.1o5577 acres have
/ been the mark t.subiect to entry more than 90
years, 49,688.644, acres for more than Is
Years; 73.074.66o acres for more than 10
years; l06,l76,96I acres for more than
years. Much the largest portion Of these
lands will continue 10 be unsaleabse at tie
minimum price at which they are permitted
to be sold, 20 long rs large territories Of land
! from which the more valuable portions 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 gradua-
ted ard reduced below tie present minimum
rate, copfn ng the sales at the reduced pr
ces to settlers and c,lt,vators. in limited guam
titles. If graduated and reduced in price for
a limited term to 81 per acre, and after the
: expiration OF that period for a second ant..
thld term to lower rates, large portion of
these lands would be purchased, and many
worthy citizens, who are unable to pay higher
rates, could purchase homes for themselves
and their families. BY adopting the policy
of graduation and reduction Of price, these
| interior lands will be sold for their real value,
while The States iii which they lie Will be
freed from the Inconvenience, if not injustice,
10 which they are subjected, in consequence
Of The United States continuing 10 own
large quantities Of public lands within Their
! borders. not liable to taxation for the support
; Of Their local governments.
recommend the continuance of the policy
of granting pre- emptions, in its most liberal
extent, TO all those who have settled, or may
i hereafter settle, on the public lands, whether
surveyed III unsurveyed, to which the Indian
tile may have been extnguished at the time
of settlement. 1t has been found by expert
ence q combinations of purchasers and 9TH
CT causes, very small Quantity of the public
lands, when sold at pubic auction, commands
a higher price than the minimum rate estsb
lished by law. Tie set.l>rs Oh the public
lands are, however, but rarely able Ia secure
their homes and improvements at the public
sales at that rate; because these combinations,
by means of the capital they command, and
Their superior, abilits- to purchase. render it
impossible for the settlers 10 compete with
them in the mai ket BY putting down all
competition, these com 5inations OF capitalists
and spectators are usually enabled to pur-
chase The lands inc luding the Improvements ct
the setiers,at the minnnthn price OF the govern
mem: and either turn them cut of their homes
or extort from them, according to their ;.bilty
to pay, double or quadrMple the amour, paid
for them to the government It is to the en-
terprise and perseverance, OF the hardy pio>
neers of the West, who penetrate the wilder
ness with their families, suffer the danger, the
priyations, and hardships attending The settle
ment Of new country. and prepare the WA. 4
for the body of enigrants WHO, in the course
of few years,usualiy follow them that we ares
in great degree. indebted for the rapid ex-
tension and aggrandizement of our coun
try.
Experience has proved that no portion Of
our population are more patriotic than the
hardy and brave men of the frontier, or more
ready to obey the call of their country and
to t.efend her rights and her honor, whenever
aud by whatever eremy assaled. They
should be protected from the grasping specu.
lator, and secured, at the minimum price OF
the public lands, in the humble homes which
they have improved by their labor With
this end in view, all vexations or unnecessary
! restrictions imposed upon them by the existing
pre- -emption laws should be repealed or med