Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1850-08-31

Now, the object is to make these bOuntss charge upon
The nubiie lsnds The amendment which have proposed
will have that effect because this land scrip VIII DO charged
upon the Government only when il Is brougnt an
the public lands and the extent OF every DOLLAR worm
scn that il brought in payment of the public lands 70 na
eTsnt will the public lands be absorbed by actual settlers
THE objection made by the honorable Senator from Illinois,
that il win throw very large quantity OF land scrip INTO
market may be truei but VINO WI. rscs'e INC oenei'
when thrown into market The owner
Mr. SHIELDS, Tin his seat Spectators
Mr. MASON. speculators may derive the largest benefit
because they purchase for small sums But the soldier gets
somethine whereas the bill stands large class get
Nothing Al all am little disposed any BODY that lives
hv ths action Of this Government to throw material into
market to enrich these SPECTATORS There is class OF
who less entitled to our sympathy and who receive less OF
nine Bat if the object be effected without placing
those for whom it designed, to some extent within the
power Of that class people, you must either incur that risk
or you must deny your intended bounty.
If nv amendment should prevail and if the proviso
shouM not be adopted though have been able to give
this subject mature consideration, may feel il my duty to
ask the Senate strike from the bill much as prevents tne
holders Of this scrip from transferring it from assigning
before peectng their entries. But think it will be better
as the purpose Of this bill is to constitute charge on the
public domain to adopt the amendment which have offered
which will carry out that object
Mr.. SHIELDS. Mr.. President see great dea OF iorce
in the argument urged by the gentleman from Virginia, SO
far as the Eastern States concerned did not strike me
in that light before. aware that volunteers and soldiers
who reside in the East and in the South will find very IN
In
forcbe in that respect My only fear is that spectators
will derive the whole benefit from the scrip However,
prefer that this amendment should prevail rather than the one
which the Senator threatens AND 10 not see 'na1 us
amendment can affect the bill very materially. may be
convenience to persons here in the East in Virginia. North
Carolina and South Carolina, and all along the eastern part
Of the country If such be the effect have no objection.
Mr. SMITH. Mr. President, perceive that the bill, as
ii stands with the amendment reported by the committee
will extend to these soldiers all the relief which can be de-
Sit ed by the honorable Senator from. Virginia And Il the
bill is to pass all, decidedly in favor OF the bill with
the amendment reported by the Committee on the fubhc
Lands And do with my honorable friend from
Illinois, in regarding this amendment as unimPortant But
if the amendment be rejected earnestly hope that the
amendment proposed by the honorable Senator from Virginia
will not be sanctioned by the Senate.
If mistake not the amendment reported from the Com
ttee on the Public Lands agrees in terms exactly with the
provisions of the bill granting bounes to the soldiers VINO
were engaged in the Mexican had occasion to look
somewhat carefully time since into the amount OF the
charge on the Treasury the United States by virtue Of the
provisions of bill granting bountes the soldiers engaged
in the Mexican and found it. on inquiry at the Irea
sury to be mere trie The whole amount Of those boun-
ties according the report the Secretary Of the Treasury
was, believe, something like IA AGO. 600 acres OF land
amounting to about eighteen millions of dollars And the
Communication money as asceaned on inquiry OF the Regis
ter Of the Treasury under the provisions the law to which
refer, amounted only about quarter OF million OF dol
lars-I think hundred and sixty odd thousand dollars
The for that u.s. suppose to be found in the fact that
the parties holding this scrip could into the market and
sell it. And believe it has uniformly brought in the mar
ket something Sl0o for quarter section Of land Con-
sequeny, the soldier could obtain in the market more than
the Communication price provided for in the bill to which refer
But proposed by the provisions Of this bill do not
collect whether BY the original provisions OF the bill OF by
virtue Of amendment reported by the committee-ha
this land should be granted directly to the sode that they
should take the title the land which to be conferred upon
them by the Government and that they should not have scrip
for the purpose of taking it into market.
Mr.. FELCH, Tin his seat.) That was an amendment
which was adopted by the Senate.
NJ Thatr pandn uuhic hasf cen
adopted by the Senate. most cordially approve of the
provision.
This scrip quarter Of land which, according
the minimum price, would $780, has been uniform
y sold for something over 500 up the present price,
which, have understood is about S125 Now this does not
all to the benefit Of the settlers the public lands
venture TO say that there Is not out OF hundred
where the actual settler has obtained this scrip at the reduced
price, 1t is uniformly purchased by spectators. have
information this subject which desire to state to the
Senate, and that is the principal object had in view In now
rising to address the Senate.
These SPECTATORS rather capitalists who DESTROYS of
oaRing money higher than the ordinary interest al
lowed BY the laws Of the land into the market and Pur-
chase this scrip at the reduced price, from something
500 for quarter section of land up the present market
price, which have understood is about Sl25 They pur-
chase this scrip in very large quantities They then with
to the Western country and seek out that portion Of the
people who in possession of the public ands those who
entitled presumption rights and they make contract
with them. They take out the patent in their names,
aud give them contract to transfer the title at the minimum
priceat 25 cents understand that the State
Of Iowa the legal of interest per per
These spectators will purchase scrip for quarter section at
say Sl25; and 60 TO Iowa and make contract with the
party entitled take the title in their own name,
spuae for ten per cent interest," and then enter into an
agreement 10 transfer the land when it is paid for In this
way they will succeed in obtaining 5 TO- and 80 per cent
per annum their money.
Mr.. JONES, Gin his seat.) And sometimes fifty per
cent
Mr.. SMITH And, my worthy friend says, sometimes
even fifty per cent per annum.
Now there have been from this source, evils to
the country this bill is to pass in the form in which,
bounes granted in the Of the soldiers in the Mex
war; that evil is to be most enormously aggravated.
doubt exceedingly, Mr.. President the policy of the bill in
any FORM have regretted that the project should have been
entertained at all do not believe in the propety of it, in
the policy Of it. Buff it is the form which the
bill granting bounties the soldiers Of the Mexican did
"A bill for which, by the way, believe voted; bill for
which there real necesty for which there high
public reasons and which therefore be abundany us
fedf is that FORM shall certainly vote against
it. IT. therefore, these grants be made to these people
at ALL am for granting them land at and not granting
them scrip for if do grant them scrip it will be brought
into the Market and $500 worth of land the minimum price
wb sold for from 90 SI25, and will be taken by CAPT
tasts in the West and sold there the full
price, together with stipulation Of the very high rate Of inter
est that is allowed in that section Of the country very
therefore, that the adoption of the amendment of hon
orabe friend from Virginia although, the hand, might
secure some slight benefit those soldiers that reside in bis