Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1845-12-11

was practicable. taken collateral security for the
amount which they hold, by the pledge OF stocks
of the United States, such Of the States as were
in good credit Some of the deposite banks have
given this description of security, and others have
declined to do SO.
! Entertaining the opinion that the separation OF
| the moneys of the Government from banking IN
stituiions is indispensable for the safety OF the
( funds of the Government and the rights of the
people" recommend to Congress that provision
i be made by law for such separation, and that
! Constitutional Treasury be created for the safe
! keeping Of the public money. The Constitution
| al Treasury recommended is designed as secure
depository for the public money, without any pow
er to make loans and discounts, or to issue any
paDer whatever as currency or circulation. L
cannot doubt that such Treasury was contem-
plated by the Constitution, should be independent
of all banking corporations.
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 people chosen by
themselves, according to the forms OF the constl-
tuition; agents who are directly responsible to the
government, who are under adequate bonds and
oaths, and who are subject to severe punishments
for any embeZZlement, private use, or mlsappllca-
lion of the public funds and for any failure in
other respects TO perform their duties 10 say
that the people or their government are incompe-
tent, not to be trusted with the custody OF their
own money, in their own treasury, provided by
themselves, but must rely the presidents, cash
iers and stockholders of banking institutions, not
appointed by them, nor responsible to them, would
be TO concede that they are incompetent ior SELF
government.
! In recommending the establishment Of a consti-
tutional treasury, in which the public money shall
! he kept, desire that adequate provision be made
10y law for its safety, and that all executive dScre
lion control over 1t shall be removed, except
such as may be necessary in directing its disburse-
ment In pursuance of appropriations made by law.
! Under our present land system, limiting the
minimum price at which the public lands can be
entered to 81 25 per acre, large quantities of lnfe
rior lands remain unsod 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 situated, SO los, ST.
acres have been in the market, subject to entry
more than twenty years; 49,638,644 acres for more
than fifteen years; 73,074,600 acres for more than
ten years; and loo, 6,l76,96I acres for more than
five years Much the largest portion of these lands
will continue to be unsaleable at the minimum
price at which they are permitted to be sold, so
long as large territories of lands 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 grad
uated and reduced below the present minimum
settlers and cutivato-s, in limited quantities If
/ graduated and reduced in price for limited term
to one dollar per acre. and after the expiration of
/ that period for second and third term to lower
rates. very large portion of these lands would be
purchased, and many worthy citizens, who are un-
able to pay higher rates, could purchase homes
for themselves and their families. BY adopting
the policy of graduation and reduction of price,
these inferior lands will be sold for their real val
! n VIII fhpv he bp
from the inconvenience if not injustice, TO which
they are subjected, In consequence of the United
States continuing to own large quantities of pub
lie lands within their borders, not liable to taxa
ton for the support Of their local governments.
I recommend the continuance of the policy of
granting prescriptions, in its most liberal extent
to all those who have settled, or may hereafter
settle on the public lands, whether surveyed or
unsuryeyed, to which the Indian title may have
been extingulshed at the time of settlement. 1t
has been found by experience, that in consequence
OF combinations of purchasers and other causes
very small quantity of the public lands, when sold
at public auction. commands higher price than
the minimum rate established by law The set
tiers on the public lands are however, but rarely
able TO secure their homes and improvements at
the public sales at that rate; because these com
blnatlons, by means OF the capital they command,
and their superior ability to purchase render it i'm
possible for the settler to compete with them in
the market by putting down all competition,
these combinations of capitalists and spectators
are usually enabled to purchase the lands, inclu-
ding the Improvements of the settlers. at the mini
mum price of the government, and either turn them
out OF their homes, or extort from them, according
TO their ability to pay double or quadruple the
amount paid for them TO government. 1t is to the
enterprise and perseverance of the hardy pioneers
of the West, who penetrate the wilderness with
their families suffer the dangers, the privations
and the hardships attending the settlement OF
new country, and prepare the way for the body Of
emigrants who, in the course of a few years, usu-
ally follow them. that we are, in great degree,
indebted for the rapid extension and aggrandize-
ment of our country
! Experience has proved that portion of our
| population are more patriotic than the hardy and
brave men of the frontier, or more ready to obev
the call OF their country, and to defend her rights
and her honor. whenever and by whatever enemy
assailed. They should be protected from the
i graspng specuator 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 vexatious or unnecessary 1e-
strlctlons imposed upon them by the existiag pre-
emptIon laws should be repealed or modified. 1t
is the true policy of the Government to afford ia
cllitles to its citizens to become the owners Of
small portions OF our vast pubic domain low
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