Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1845-12-20

Entertaining the opinion that "ths sepsra-
ton Of the moneys 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 Con-
gress that provision be made by law for such
separation, and that constitutional treasury
be created for the safer keeping Of the public
money. The constitutional treasury recon-
mended is designed as a secure depository for
the public money, without any power to make
loans or discounts, or to issue any paper whats
ever as a currency or circulation. | cannot
doubt that a sub treasury as was contemplated
by tho constitution, should be indie pendent OF all
banking corporstions.-Ths money OF the peo
pie should be kept in tho treasury Of the peo
pie created by Law, and be in the custody Of
agents OF the people chosen by themselves, &C |
cOrding 10 the forms ofthe constitution; agents
who are directly responsible 10 the govern.
nent, who are under adequate bonds and oaths
and who are sub jecl to severe punishments for
any embezzlement, private use, or misapplica-
ton of the 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 Of their own money, in their own
treasury, provided by themselves, but mus,
rely on the presidents, cashiers and stockhold.
ers Of banking corporations, not appointed by
them, nor responsible 10 them, would be to
concede that they are incompetent for self
government.
In recommending tho establishment OF a
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 it
shall be removed, except such as may be neces,
sary in directing its disbur sement in pursuance
Of appropriations made by law.
Under our present land system, limiting the
minimum price at which the public land can be
entered 10 one dollar and twenty five cents per
acre, large quantities Of lands Of inferior,
quality remain unsold, because they 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 are stu
ated, thirty>nine millions one hundred and five
thousand FIVE hundred and seventy>seven
acres have been in the market, subject to en-
try more than twenty years; forty million
six hundred and thirty eight thousand six hun
drcd and forty four acres for more than fifteen
years; seventy three millions seventy four
thousand and SIX hundred acres for more than
len wears; and one hundred and six million,
one hundred and sixty one acres for more
than five years. Much the largest portion OF
those lands will continue TO be unstable at the
minimum price at which they are permitted TO
he sold, 20 long as large territories Of land,
from which the more valuable portions have
not been selected are annually brought into
market by tie government. With the view
10 the sale and settlement Of these inferior
lands, | recommended that the price be gradu
aled and reduced below the present minum
rate, combining the sales at TIE reduced prices
TO settlers and cultiyatorS in limited quantities
If graduated and reduced in price ror limited
period to 81 per acre. and after the expiration
of that period for second and third term to
lower raIes, a large portion Of these lands
would be purchased, anu many worthy citizens
who are unable to gay higher rates, could pur
chase homes for themselves and families. By
the policy Of graduation and reduction of price
these inferior lands will be sold for their rea
value, while the States in which they lie
will be freed from The inconvenience, il no
Injustice to which they are subjected, in con
sequence Of the United States continuing lc
own large quantities Of public lands within
their borders, not liable 10 taxation for the sup
port of their local governments.
| recommend the continuance Of the pol
icy Of granting pre- emptions in its most llber,
al extent, to all those who have settled, OF
mar hereafter settle, on the public lands
whether surveyed or unsurveyed, to which
the Indian title may have been ekllugushee
ut the time Of settlement. 1t has been found
by experience, that in consequence Of comb
nations Of purchasers aud other causes, a We
~ small quantity Of the public lands, wher
sold at public auction, commands highe
price than the minimum rate established b,
law. The settlers on the public lands are
however, bu, barely able 10 secure heir home
and improvements at the public sales at tina
rate; because these combinations, by means o
the capital they command and their superio
ability to purchase, render il impossible fo
the settler 10 compete with them in the mar
ket.
BY putting down all competition, these com
binations of capitalists and spectators are
usually enabled to purchase the lands, inclu
ding the Improvements OF the settlers, al the
minimum price Of the government, and either
turn them out Of their homes or eItort from
them, according TO their ability 10 pay, dos
BILE or qI4druple the amount paid for them &c
the government. II is TO the enterprise ano
perseverance Of the hardy pioneers Of the
West, who penetrate the wilderness with thei,
families; suffer the dangers, the privations, and
hardships attending the settlement Of a new
country, and prepare the way for the body o.
emigrants who, in the course Of q few years
usually follow them, that We are, D a grea
degree, indebted for the rapid extension and
sgrAndizement Of our country.
Experience has proved that no portion oil