The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-12-16

'empted, by desire of gain, to extend their loan:
increase their circulation, and thus stimulate,
not produce spirit Of speculation and extravo
gance, which sooner orlater must result in ruin t
thousands. 1.-THE public money be not permtte
to be thus used, but be kept in the treasury an,
paid out to the public creditors in gold or silver
the temptation afforded by its deposte with bank
to an undue expansion Of their business would b
checked, while the amount of the constitutions
currency left in circulation would be enlarged
by its employment in the public collections ant
disbursements, and the banks themselves would
in consequence, be found in safer and sounde
condition.
AT present, State banks are employed a
repositories, but without adequate regulation
of law, whereby the public money eau be Sc
cured against the casualties and exccsses
revulsions, suspensions, and delalcations, tt
which, from over issues, overtrading, an in
ordinate desire for gain, or other causes, they
are constantly exposed. The Secretary o
the Treasury has in all cases, when it is prac
ticable, taken collateral security for the
amount which they hold, by the pledge o.
stocks of the United States, or such of the
States as were in good credit. Some of the
deposite banks have given this description o
security, and others have declined to do so
Entertaining the opinion thai, the "sepa
ration of the moneys of the government
from banking institutions is indispensable fol
the safety of the funds of the government
and the rights of the people," recommend
TO Congress that provision be made by law
for such separation, and that a constitutional
treasury be erected for the safe keeping of
the public money. The constitutional trea-
suiy recommended is designed as secure
depository for the public money, without any
power 10 make loans or discounts, or to use
any paper whatever as currency or circula-
ton. / doubt not that such a treasury as
was contemplated by tie constitution, should
be independent of all banking corporations.
The money of the people should be kept in
the treasury of the people created by lay.
and be in the custody of agents of the peo-
pie chosen by themselves, according 10 the
forms of the constitution; agents who are d.
recdy responsible TO the government, who
are under adequate bonds and oaths,. and are
subject TO severe punshments for any en-
bezzlement, private use, or misapplication of
The public funds, and for any failure in other
respects to perform their duties. To say
that the people or their government are in
or not to be trusted with the Gus
tody of their own money, in their own trea-
sury, provided by themselves, but must rely
OH The presidents, cashiers and stockholders
of banking corporations, not appointed by
them, nor responsible 10 them would be TO
concede that they are incompetent of self
government
In recommending the establishment of a
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
it should be removed, except such may be ne
cessary in directing its disbursements in pur-
suance of appropriations made by law.
Under our present land system, limiting
the minimum price at which the public lands
can be entered TO one dollar and twenty-five
cents per acre, large quantities Of land OF
inferior quality remain unsold, because it will
not command that price. From the records
of the General Land Office it appears, that,
Of the public lands remaining unsold in the
several States and territories in which they
ire situated, thirty-nine millions one hundred
md five thousand five hundred and seventy
seven acres have been in the market, subject
o entry more than twenty years; forty nine
Millions six hundred and thirty-eight thou
and six hundred and forty-four acres for
more than fifteen years, seventy-three mill
ons seventy-four thousand and six hundred
lcrcs for more than len years; and one hun
lred and six millions one hundred and Sc
thousand nine hundred and sixty
,nc acres for more than five years. Much
he largest portion of these lands will con-
inue to be unsaleable at the minimum price
1t which they are permitted TO be sold, so
ong as large territories of lands from which
he more valuable portions have not been
are annually brought into market
~ the government With view to the sale
md settlement of these inferior lands, | re-
commend that the price be graduated and
educed below the present minimum rate,
;onfning the sale at the reduced prices for
| limited term to one dollar per acre, and at-
er the expiration of that period for second
nd third term TO lower rates, a large portion
# these lands would be purchased, and ma
~ worthy citizens, who are unable to pay
'igher rates, could purchase homes for them
elves and their families. By adopting the
'olicy of graduation and reduction of price,
hese inferior lands will be sold for their re-
/ value, while the States in which they lie
will be freed from the inconvenience, if not
INJUSTICE, TO which they are subjected, in
consequence of the United States continu-
ng to own large quantities of public lands
within their borders, not liable to taxation
or the support of their local government
l recommend the continuance of the poll
y of granting prescriptions, in its most libe-
al extent, to all those who have settled, or