Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-03-26

10 be ISSUED the present year, OeinS an eACess w
warrants for $4,000 acres more than should be for
ced upon the market during that period. Such
warrants now command no more than half their
nominal value. aud the depreciation consequent
upon The proposed increased, may be easily fore
seen.
The argument sometimes used, that work and
materials obtained for drprt GATED warrants on
terms favorable to The State they could be
produced for money, is absurd that it scarcely
need be refuted. To obtain means 10 perform their
contracts the contractors IN most cases, sell their
warrants for the highest price they will bring M
The market. and either the State pays for the work
an increased price sufficient 10 make good the de-
probation, the contractor loses that depreciation.
Few persons would Claim to be SO patriotic as to
build railroads for the Stale for IA COMPENSATION
scarcely equal to one half ofihe just value of their
Labor and the truth is. that the loses the differ
ence between the nominal and the market value of
OF funds paid out upon its public works. Some
urmportant exceptions may exist--but The geper-
al truth of the remark will hardly be called in ques
ton by those acquainted with he subject.
The deprecated warrants paid out in past years,
though receivable for land, have been mostly
bought up on speculation, which shows concIusi-
veIy, that the depreciation was lost by the state
and Contracts with The intention of selling The war
rants TO be received in payment, securing, doubt
less, increased price for their work, that would
compensate for the depreciation; aud such mus
ever be the ga sc in all future transactions Ut
similar character.
The means of the state has, at all times been
anticipated, and our works of internal improve
ment have, hrtherto, been accomplished under
great disadvantages. Work and materials could
doubtless be now procured for ready money, at
half The prices paid in former years.
The bills returned propose 10 appropriate more
lands than the state has. AT the close of the last
fiscal year, u residue of $4,000 acres remained
ofthe grant Of September 4, IS4l, liable to the
disposal of the legislature. subject however TO The
enactmenis iLen existing, and relating 10 the pub.
lie lands. From the quantity then on hand drdur-
ting 60,OUO acres appropriated Tor the coas,ruc-
ton of the Grand River bridge, $4,000 acres APP
proprated this session aud 10000 acres reserved
10 be taken in the upper peninsula including re-
jections from former selections, in all So 900 acres
and but 235 900 acres remian. The bills return
ed propose to appropriate 243, 900 acres, being
| 1000 more than the state possesses. The land III
the upper peninsula for which application has al.
ready been made TO the commissioner Of The gen.
era land office, valuable for other than purposes
of cultivation. and cannot be properly appropria
ted by acres like other land In each seectio,
which cannot be less than half section, parlicu-
lar points only are BILE, and the residue com
parativev worthless. When information is oh
tanned of the success Of the application, speeia
Legislation " i'll be required to designate the man
er in which this land shall be disposed of.
Among the enactments subject 10 the condition..
of which should be any Legislation having for 1T
object the disposal of all the pubic lands is" Al
act making appropriations upon Inc Central ant
Southern Railroad" approved February q, lS43
This act authorizes the letting Of such an amour
of contracts as will be paid for by one hundred
and fifty thousand acres of Internal improvement
land the warrants 10 be drawn upon the interna
improvement fund but the state TO be In no way
responsible for their aymeni until that fund shall
be reimbursed by the sale of lands or by monies
from other sources. As The internal improvement
fund will not be reimbursed by monies from o,he
sources, an appropriation of all the lands is re
pudiaion of the warrants issued under this act ant
yet outstanding. IL the only substantial means
pledged for their payment be otherwise applied
good faith requires that some other provision bt
made for their redemption. especially as the llabll
ity of the state is absolved except though the me
dunn of the lands proposed TO be appropriated.
4 Evidence Of Indebtedness is outstanding twice
price, the holders of which are entitled TO tgke th'
lands in payment. Should they So determine alte
contracts had been made under proposed appro
priaions, which is not improbable, the confusion
difficulties and evils resulting would be almost IN
cacuable. and among the latter, not the least, wou'
be the creation of debt in violation Of the con
stiiution.
The pay of engineers required in carrying init
effect the proposed appropriations, would not b
less than twenty-five thousand dollars; and the bill
make no provision upon the subject. Under pre-
sent provisions of Law. that sum must be take
: from the ret proceeds of the public works. whrc
$ are soIemuy pledged TO pay The interest on on
public debt, and which, if diverted, must be re
placed by increased taxation upon the people.
The bills make no provision to secure the RICH
e of way. In cases where right Of way cannot b
/ secured by compromise, aud such cases are nc
t unfrequent, the state possesses no means 10 max
p lawful tender, unless resources be had to tn
: proceeds Of the public works, already pledged 70
other objects.
d The bill, proposing to appropriate $4,000 acre
J. of land upon the Southern Railroad, seems to re
s quire that the grubbing. grading and bridging I
1t the amount of the appropriation, be extended |
It Coldwaer, and no provision IS made for supe