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

rousto enable the capitalists Of the country, in place Of
realizing per cent per annum, to obtain from 20
so per per That certainly will be the effect
of the amendment Of my honorable friend from Virgins.
Mr.. WHITCOMB. am opposed to both the amend
As bill granting public lands to the soldiers OF the
of 1912 and the Indian wars rewadng them for their
gallant services in the hour Of peril and incidentally mprov-
ing the frontier country, give 1t my cordial support
But am opposed attaching amendment to bill OF SO
much importance which is calculated defeat it. The hon
orable Senator from Connecticut Mr. SMITH has remarked
that there have issued under the bill granting bounty iands
to the soldiers Of Mexican war; covering some
fourteen millions of acres and but quarter million Of dollars
only, think he said, in the shape Of scrip.
Mr. SMITH. said there had been that amount OF money
drawn from the treasury.
Mr. WHITCOMB. Just So And yet, sir, the issuing
of land warrants for fourteen millions of has already
had the effect of reducing the value Of land warrant
from its par value Of $500. Now, If you throw upon
the market the additional of land warrants authorized
by this BILL it will cause still further reduction and pro-
poronate 10 not than 100 for warrant OF one hum
bred and sixty acres-being less than one halwhat VIII
be the effect Of such reduction Evidently, under the
first amendment the drawing of the value OF nearly the whole
amount Of lands authorized by this bill from the treasury in
the shape scrip, edeemabe only the pleasure Of the Gov
men and emitting the soldier merely to his yearly Pance Of
interest from the treasury As this scrip would only be one
half Of the minimum value of the land, the interest would
be tAe that the cost Of getting It would exceed ls
value and in ninety out Of hundred would moi
be collected The consequence Is obvious Greedy capital
lists and INSCRIPTIONS spectators would gradually absorb the
reward Of the poor soldier still further sacrifice and there
would be created national debt in favor Of capitalists with
no material or lasting advantage to the soldier.
The last amendment in effect, allows the claim OF the
soldier be transferred before he becomes the owner OF the
land The committee properly regarded this as an evil and
their efforts prevent it would by this amendment be us
traed Experience has shown often the policy has been
tried that the effect Of the power Of previous transfer to rob
the poor unsuspecng soldier who has pered his life and
enrich the specuato Ifcapass engross the soldiers
the shape land warrants they will be converted into owners
large bodies Of lands the ontiers unsettled and unim
proved opposing the march ondivdua industry and naona
wealth. On the contrary, the soldier is protected from be-
ing deauded of his claim until he becomes the owner Of the
SOIL and If living inconvenent distance he will be able
to command better price for it, he holds to It after
is patented TO him, it will constantly be increasing in value
by the surrounding settlements will not only soon reach
par vue but in the present OF the rapid improve
of country, go far beyond it. Above ALL would
serve as home for the soldier in his declining years. The
supposed inconvenience arising omhe distance Of the sode
from the place where he desires select his land easily OBJ
Waited His personal presence under this bill is by means
necessary The land be located in his absence and thu
patent sent to him.
appears me- therefore, that both justice and sound polio!
should induce to reject these amendments They are
least calculated to load down and embarrass the BILL ap
pehend thefiends Of the bill will need all their strength
pass and should be kept therefore, free from objection
| as possible.
The further consideration Of the bill then pospone
until tomorrow. ~. #t=& y.