The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1847-12-21

a large proportion oil the specie H"Por'ca
has been paid into the Treasury for public
dues, and utter having been, 10 great cN-
tent, rccoincd at the mint, has been paid
out to the public creditors, and gone int"
circulation as currency among the pee
pie. The amount Of gold and silver coined,
and now in circulation in the country, is
larger than ut any former period.
The financial system, established by the
constitutional Treasury, has thus Ear hccn
eminently successful in its operation, md
] recommend an adherence to all its essen
iial provisions, and especially 10 that vital
provision which fully separates the govern
ment from all connection with banks, aud
excludes bank paper from all revenue re-
ceivcd.
In some Of its details, not involving its
general principles, the system is defective
aud will require modification. These de-
fects, and such amendments as arc needed
and deemed important, were set forth in
the last report ofthe Secretary Of the Treas
ury. Those amendments are again rec
commended 10 the early and favorable con-
sidcra,ion Of Congress.
During the past year the coinage at the
mint aud its branches has exceeded TWEEN
~ millions Of dollars. This has consisted
chiefly in converting the Gains Of foreign
countries into American coins.
Tho largest amount Of foreign Gains i'm
ported hns been received ut New York, and
ia branch mint were established at that
city, oil the current coin received nj tina,
port could at once he converted into our
own coin, without the expense or risk and
delay Of transporting il to the mint for that
purpose, the amount received would he
much larger.
Experience has taught that foreign coin
will not circulate extensively MS currency
among the people. The important meas
ure Of extending our specie circulation.
both Of gold and silver, and Of diiusing il
among the people, is etiectually converting
such foreign iato American coin. lrcpen,
the recommendation contained in my last
annual message for the establishment Of o
branch mint Of the U. s. at New York.
All the public lands which have been
surveyed aud were ready for market, have
been proclaimed for snlc during the past
year. The quantity offered aud 10 be Of;
fered for sale, under the proclamation i-sn.
cd since the first Of January last, amounts
to q. l36, 53l acres.
Tho prosperity of the western states md
territories in which those lands lie, will be
cnhnnccd by their speedy sale. BY with
holding them from the market, their growth
and increase Of population would he cisrd.
ell, aud thousands of our cntcrprising aud
mcrilorious frontier population could bc de-
privcd Of the opportunity Of securing free
holds for themselves md families. But in
addition 10 the general considerations
which render the ready sale Of these lands
proper il is a leading object, At this time, To
realize as large sum rs possible from this
source, and thus diminish, by tina, nmnnn.,
the public loans, rendered necessary b.
the existence Of foreign war.
Il is estimated that not less than ten mil
lions Of acres Of public lands will be sur
eyed and be in a condition 10 he proclaim
cd fnr sa!o during tho year 1913.
In my last annual message presented
the reasons which, in my Judgment, rem
dercd it proper 10 graduate and reduce the
price Of such Of the public lands ne have re-
mnined unso!d for long period after the,
have been offered lor sale nj public auction.
Many millions al acres oi public lands,
lying within the limits Of several Of the
western states, have been offered in the
market and have been subject 10 sale III
private entry for more than twenty years,
nnd large quantities for moro than thirty
years, al the lowest price prescribed by the
existing laws, and as il has been found that
they will not command that price, the.
must remain unsold thirty years, and IN
cultivated for m indefinite period, unless
the price demanded by tho government
shall be reduced. No satisfactory reason
is perceived why they should longer be
held nj rites above their real value. At
this period an additional reason exists for
adopting tho measures recommended
When the country is engaged in foreign
war, and wo must necessarily resort to
loans, il would seem 10 he the dictate Of
wisdom that We should avail ourselves Of
oil our resources, mud thus limit the amount
Of the public Indebtedness to tho lowest
possible sum.
recommend that the existing laws on
the subject Of presumption rights he amend.
cd SO as TO operate prospcc,isely, and 10
embrace all who may settle upon the pub
lie lands and make Improvements upon
them before they arc surveyed, rs well rs
lands in all cases where such settlement
may be made after the Indian title shall
have been extinguishcd.
lfthc right ofpre-cmption be thus extern
ded, it will embrace large and meri,or.
Gus class of our ciizcns-it will increase
the number Of small free holders upon our