Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-12-17

Il
lie treasury contemplated BY the constiulion.-
The trainers Of the constitution could never have
intended the money paid into the treasury should
be thus converted to private use, and placed be-
yond The control Of the government.
Banks which hold public money are often temp.
ed, by desire Of gam, to extend their loans, in.
crease their circulation, and thus Stimulate If not
produce spirit Of speculation and extravaganza
wh Oh, sooner or later, must result in ruin to
thousands. 1.-THE public money be not permitted 10
be thus used, but be kept ia the treasury and paid
out to the public creditors in gold aud silver, the
temptation afforded by its dep"ste with banks to
an undue extension of their business would be
checked, while The amount Of the constitutional
currency left In circulation would be enlarged by
its employment in the public collections and dis
bursements, and the banks themselves ia consc.
quence b. found in safer aud sounder condition.
At present State banks are employed as dcpas-
tories, but without adequate regulation of Law,
whereby the public money can he secured agaInst
the casualties and sscs, revu's ons, suspen.
sions and dsfalcatons, to which from over issues,
over-rading, Inurdnate desire for gain.of Other
C FUSES. they constantly xposed. The S-cre-
tary Of the Treasury has in all cases. when f wac
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 deposit banks have Civ
Oh tnIs description ofsecuriiy. and others have do.
clIned 10 do SO.
Entertaining the opinion that she separation Of
the moneys OF the government from banking insll-
tutionS is Indispensable for the SAFETY of the funds
of the government aud the rights of the people,
Recommend TO Congress that provisions be made
by law fur snch separation and lha, constitution.
al no tad far M
public money.
The constitutional treasury RECOMMENDED is
designed AS secure depository for the public
motey. without a"y power to make loans or dis
counts or 10 issue any paper ahacver as cur
reLcy tr circulation. Cannot doubt that such
treasury us was contemplated by he CONSTITUTION
should he Independent, Of all banking corporations.
The money vi The people should be kept IN the
treasury Of the prop'e created by law, aud be IN
the custody o: agents of the people. chosen by
themselves according 10 the forms Of the consti,u-
ton; age {, who are directly responsible 10 the
government. who are under adequate bonds and
oalhs, ard who are subject to severe punishments
for any einbezzement, private use, oil misapplics-
tIou OF the public funds, and for any failure Ia 9TH
er respects 10 perform their duties. To say that
the people or their government are incompetent,
or not to be trusted with tho custody of their own
money, in their own treasury, provided by ihe.p-
selves but must rely ths Presidents, cash.
lers, aud stockholders of banking corporations, not
appointed by them, nor responsible to them. would
be to concede that they are Incompetent f.: self
government.
In recommending the establishment of a consritu-
uonal treasury, in which the public money shall
be kept, desire that adequate provision be made
by law for lis safely, and that all executive drec-
fIon frol n hoH t.o
such as may be necessary IN directing its dlsburs-
ment in pursuance appropriations made by law.
Price of the Public Lands.
Under the present land system, limiting the low
est price of the public lands to l,25 per acre. large
quantities of land of inferior quality remain unsold be-
cause they will not command that price. From the
records of the General Land Office it appears that of
the public lands remaining unsod in the several ter
rtores and states, thirty nine millions one hundred
and five thousand five hundred and seventy seven
have been in the market subject to entry more
than 20 years; forty nine millions six hundred and
thirty eight thousand six hundred and forty acres
for more than fifteen years; seventy three millions
seventyour thousand and SIX hundred acres for more
than years. and one hundred and six millions one
hundred and seventy-sx thousand nine hundred and
sixty one acres for more than five years. Much the
largest portion of these lands will continue to be I'M
saleable at the minimum price at which they are per-
mtted to be solo, long as large territories of land
from which the more valuable has not been selected.
is annually brought into market by the government.
With view to the sale and settlements of those in
ferior lands, recommendation the price and reduced
below the present minimum rate combining the sales
at the reduced prices to settlers and culiyators in
limited quantities. If graduated and reduced in for
limited termto one dollar per acre. and after that peri
cd for second and third term to lower rates. laroe
portion of these lands would be purchased, and wor
thy citizens, who unable to pay higher rates.
could purchase homes for themselves and families
BY adopting the policy Of graduation and reduce
ton of price, these inferior lands will be sold for
their real value, while the states will be freed from
the Inconvenience, if nor injustice to which they
subjected, in consequence of the United Stats
continuing TO own large quantities of public land
within their borders, not abe to taxation in sup.
port of their local governments.
Presumption CLAIMS.
Recommend the policy Of continuing TO grant
pre-emions in its mos, liberal extent, to all those
who have settled mr. may hereafter settle on the
public lands whether surveyed or unsurveyed, to
which the Indian title may have been extinguish.
ed at the time of settlement. 1t has been found
by experience, that in Consequence of combination
purchasers, and other causes very small GUAM.
uty of the public lands when sold a, auction, com.
mands higher price thnn the minimum rate es-
tablshed by law. The 81 lers on the public lands
however. are rarely able to secure their homes e.
improvements at the public sales at that rate, be-
u