Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1847-12-16

larger than at any former period.
The financial system established by the con- |
treasury has been, thus far. eminent,
ly successful in its operations; and recon
mend an adherence to all Its essential provls- [
'ons. and especially to that vital provision
wh;c'l wholly separates the government from
all connection with banks, and excludes bank
paper from all revenue receipts.
In some of its details. no. involving its gen
eral principles, the system is defective, aud
will require modification. These defects. and
such amendments as arJ' deemed important,
were set forth in the last annual report of the
of the Treasury These amendments
are again recommended to the early and favor
able consideration of Congress.
During the past year, the coinage at the
mint and its branches has exceeded twenty mil
lions of dollars. This has consisted chiefly in
c nvertirg the coins Of foreign countries into
American coin.
The largest amount Of foreign coin imported
has been received at New York; and if branch
mint were established at that city. all the for
eign coin received at that port could be CONVEX
led into our own cola, without the expense.
risk, and delay of transporting it to the mint
for that purpose, and the amount reco.ned wo'd
be much larger
Experience has proved that foreign coin and
especially foreign gold coin, will not circulate
extensively asa currency among the people
The important measure of extending our specie
circulation, both of gold and silver, and Of diff
fusing it among the people, can only be effect
ed by converting such foreign coin into Amer
lean COIN repeat the recommendation con-
tanned in my last annual message for the es-
Enlistment of branch of the mint Of the U. ).
at the city of New York.
All the public lands which had been survey
ed and were ready for market have been pro-
claimed for sale during the past yaar. The
quantity offered and to be offered for sale, am
outs to 9, 1873, 53l acres. The prosperity ofthe
western states and territories in which these
lands lie will be advanced by their speedy sale
By Withholding them from market their growth
and increase of population would be retarded,
while thousands Of our enterprising and meri-
torious population would be deprived of the OPP
portunity of securing freeholds fer themselves
and their families. But in addition TO the gen.
era considerations which rendered the early
sale Of these lands proper, it was leading OBJ
ect at tn; time TO derive as large sum as pos
sible from this source, and thus diminish, BY
that amount, the public loan rendered necessa-
ry by the existence Of a foreign war.
IL is estimated that not less than ten millions
Of acres of the public lands will be surveyed &
be in a condition to be proclaimed for sale dur
ing the year lo4o.
In nv last annual message | presented the
reasons watch, in my Judgment, rendered 1t
proper to graduate and reduce the price of such
of the public lands as have remained unsold for
long periods after they had been offered for
sale at public auction.
Many millions of acres of public lands lying
within the limits of several of the western states
have been offered in the market, and been sub
ject to sale at private entry for more than ~
years, and large quantities for more than thirty
years, at the lowest price prescribed by the ex-
isting laws, and it has heen found that they
will not command that price. They must re-
main unsold and uncultivated for an indefinite
period, unless the price demanded for them by
the government shall be reduced. No satisfac-
tory reason is perceived why they should be
longer held at rates above their real value. At
Tho nroson4 ,,a-i4d additional reason oxisfs
for adopting the measure recommended
When the country is engaged in foreign war,
and we must necessarily resort to loans, it
would seem to be the dictate Of wisdom that
we should avail ourselves of all our resources,
and thus limit the amount of the public lndebt-
edness to the lowest possible sum.
recommend that the existing laws on the
subject of presumption rights be amended and
modified so as to operate prospectively. and to
embrace all who may settle upon the public
lands and make Improvements upon them be-
fore they are surveyed, as well as afterwards,
in all cases where such settlement may be made
after the Indian title shall have been eXtingul
shed.
If the right of pre- emption be thus extended.
it viii embrace large and meritorious class of
our citizens. 1t will increase the number of
ofsmall freeholders upon our borders. who will
be enabled thereby to educate their children &
otherwise improve their condition, while they
will be found at all times, as they have ever
proved themselves to be, in the hour of danger
to their country, among our hardest and best
volunteer soldiers, ever ready to tender their
services in cases of emergency, and among the
last to leave the field, as long as an enemy re-
mains to be encountered. Such policy will
also impress these patriotic pioneer enigrants
with deeper feelings of gratitude for the paren
tai care of their government, when they find
their dearest interests secured 10 them by the
permanent laws of the land, and that they are
no longer in danger of losing their honest and
hard earned Improvements by being brought in
to competition with more wealthy class Of
purchasers at the land sales.
The attention Of Congress was invited, at
their last and The preceding cessicn. to the inn
portance of establishing Territorial govern
ment over our possessions in Oregon and it is
to be regretted that there was no legislation on
the subject. Our citizens who inhabt that dis
tant region of country still left without any
regularly organised government. Before the
question of limits and boundaries of the terrific
ry of Oregon was definitely settled, from the
necessity of their condition, the inhabitants had
established temporary government of their
own Besides the want of legal authority for
continuing such government, i: is wholly IN
adequate to protect them in their rights Of per-
son and property, Or to secure to them the en-
joyment of the privileges of other citizens, to
which they are entitled under the constitution
of the United States. They should have the
right of suffrage, be represented in Territori-
al Legislature, and by delegate in Congress;
and possess all the rights and privileges which
citizens of other portions Of the Territories Of
the u. s. have heretofore enjoyed, or may now
enjoy.
Our judicial system. revenue laws. laws re-