Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1847-12-21

to great extent, recoined at the mint, has been
PAID out TO the pnbc creditors and gone into cir
cuianon, as currency among the people. The
amount of gold and silver coined, andnow in cir
culation in the country is larger than at any for
mer period.
The financial system established by the con-
stitutonal treasury has thus far, been eminently
successful in its operations: and recommend an
adherence to all its essential provisions, and espe-
cially that vital provision which fully separates
the government from all connection with banks.
and excludes bank paper from all revenue received
In some of its details, not involving its general
principles. the system is defective, and will re-
quire modification. These defects, and such
amendments as are needed, and are deemed i'm
Portant' were set forth in the last report of the
Secretary OF the Treasury. Those amendments
are again recommended to the early and favorable
consideration of Congress. .,. n
Durlng the past year, the coming at the mint
ana It's branches, has exceeded twenty millions of
collars. This has consisted chiefly in converting
tne CONS OF foreign countries into American coin.
Inc largest amount of foreign coins imported
has been received at New York: and if branch
mint were established at that city, all the incur
rent coin received at that port could at once be con-
verted into our own coin. without the expense,
risk and delay of transporting it to the mint for
that purpose; and the amount received would be
much larger.
Experience has proved that foreign coin will not
circulate extensively, :as currency among the
people. The important measure of excluding all
specie circulation both of gold and silver, and of
dfusingi it among the people, is effectually con-.
verting such foreign into American coin. | re-
peat the recommendation contained in nv annual
message, for the establishment of a branch mint
Of the United States at New York, .Er
All the public lands which have been SURVEYED,
II de- e., L
puring the past year. The quantity offered, and
to be offered for sale, under the proclamations is
sued since the first of January last, amount to o.
13S, 53l acres. The prosperity of the Western
States and Territories in which those lands lie,
will be enhanced by their speedy sale. By with
holding them from the market, their growth and
increase Ofpopulation would be retarded and thou
sands OF our enterprising and meritorous frontier
population would be deprived of the opportunity of
securing freehoIds for themselves and families -
Butin addition to the general considerations which
render the ready sale of these lands proper, it is
leading object at this time to realize as large sum
as possible from this source and thus diminish by
that amount, the public loans rendered necessary
by the existence ola foreign war. Its estimated
that not less than ten millions of acres of the public
lands will be surveyed and be in condition to be
proclaimed for sale during the year l848
In my last annual message | presented
the reasons which in my Judgment, rem
dered 1t proper to graduate and reduce
the price Of such of the public lands as
have remained unSoId for u long period Of.
ter they have been offered for sale at pub.
lie auction.
Many millions Of acres ofpublic lands,
lying within the limits Of several of the
Western States have been offered in the
market, and been subject to sale, at pri-
va'e entry Tor more than twenty years, land
large quantities for more than thirty years,
at the lowest prices prescribed by the ex.
listing law; and it has been found that
they will not command that price, "they
must remain unsoid thirty years, and I'M
cultivated for an indefinite period, unless
the price demanded by the government
shall be reduced. No satisfactory reason
is perceived why they should be longer
held at rates above their real value. At
this period an additional reason exists for
adopting the MEASURE recommended
When the countryis engaged in foreign
war, and We must necessarily resort to
loans, il would seem to be the dictate of
wisdom, that we should avail ourselves of
all our resources, land thus limit the amount
Of the public Indebtedness to the lowest
sum possible. ...- p
RECOMMEND that the existing laws on
the subject of pre-emptlon rights, be
amended so as to operate prospectively,
and to embrace all who may settle upon
the public lands, and make improvements
upon them before they are surveyed, as
well as afterwards. in all cases where
such settlements may be made after the
Indian title ray have been extinguished
If the right of prescription be thus ex
tended, it will embrace large and meri.
torious class of our citizens. 1t will in
crease the number of small free holders
upon our borders, who will be enabled
thereby to educate their children, and
otherwise improve their condition, while
they will be always found. in the hour of
danger 10 our country, among the best of
our volunteer solders-ever ready 20 ten.
der their services in cases of emergency,
and the last to leave the field as long as
an enemy remains to be encountered.
Such policy will also impress those
pioneer emigrants with deeper feelings of
gratitude for the parental care of their
government, when they find that their
dearest interests are secured to them by
the permanent laws OF the land, aud that
they are no longer in danger of losing
their homes and hard.earned improve.
ments, by being brought into competition
with more wealthy class of purchasers
at the land sales.
The attention Of Congress was invited
at their last, and is again at the present
session, to the Importance of establishing
a Territorial Government over our posses
sions in Oregon and it is also 10 be re-
GREETED that there was no Legislation upon
the subject. Our citizens who inhabis
that region OF country are still left with