Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1851-01-04


ect being meentous, and himself not Of lie commes 4
which y might b referred, be dssmed night - make @
exposition Of the reasons in which II founded, md ~ ~
manner IN which Il expecied 10 accomplish sotjsc
Inc hra object = The Payment Of tho public ds ee ~
means proposed accelerated sslss Of the public lands
This supposes the fact that have present. apubc ds
and that the public lands doing her part towards ~
payment Of that debt Both these assumptions tsus md
brie statement will show the serious extent 10 which they
are So We have national dobs, with The pros
pec that is to be larger before y smaller and Ws have
public lands, but they longer available n
paying the public debt The Secretary d The Treasury ia
his annual report upon the nancss dscos hsae hc4s p
Us; and avail myself Of bis atsmsnls 70 authenticate on
cially what say 70 the Senate The sb in round mum
bers or this is in which TO ssts actons) snd
Including the Texas stock, not yet9ue 000 600, apd
the interest accrung the same, for the ensuing year,
W2i0000 eliminating down until 1865 whent the last item
Of the public debt sus to SEQ. .000 and amounting in The
wholsOr interest $780, OO0 and for principal O0O
making together ,0OO The principal end iners
Of the debt being then 600 600, becomes serious
burden to all who consider do apubc debt to be pub
lie curse.
One hundred and thirty -four millions is then the amount
principal and interest," of the present national debt and is
the amount which the people of the United States will
have pay get rid of that debt provided every item of it
shall be paid without borrowing, becomes due But if
part shall be paid by the process of paying old debts
creating one then the total amount of the burden
account of the present national debt will be much above
$l34 0OO 900 the interest loans pay principal
and interest old shall amount to. Taken either way
has to be provided for and the according TO
system of finance from two sourcesthe customhouses
and the public lands These the theoretical sources Of
revenuesthe theoretical ofhem that oftheands, will
be of income after the present year, and will
remain so the present mode of selling is continued without
alteration for sixteen years. This will carry about the
end of the time for paying the last item of the public debt
The last payment becomes due in 1868, and sixteen
will bring the verge Of that time This results from the
military bountes Of the last session. and the previous
sons and well stated by the Secretary of the Treasury
that shall avail myself of his words:
"The laws recently enacted giving those who served
served in former wars in addition grants States for in
ternal improvements will undoubtedly supply the market
with the greater portion of the lands that will be required for
therefore-sma, indeed, comparatively but still in the
preceding f84S available for annual average of
statement v)should not hereafter be relied
upon with certainty considerable amount in es-
mating the receipts of the Treasury.
Statement K appended to this report shows the number of
and the number to be located estimated from the
rolls and other evidences e with the quantity of lands in
acres required satisfy them. The quantity of lands sold
years fs47 1s48 and 1S49 40 averaging
909 27 46 per annum, valued 76 aver
aging 20 sos, III s. per annum. am IN
quire valued $yS At the above
Of 46 acres per num- over sixteen years
will be required absorb and satisfy the warrants yet to be
issued estimated under the several bounty land acts now in
force.
There will then be diverted from the Treasury, from the
sale of lands the of $l13 1896, not anticipated at
the date when the law Of 1916 enacted See
statement X. J"
This Of Mr. Secretary Corwn shows very clearly
that to be expected from the public lands,
der the present mode Of selling ,hem for sixteen years He
might have gone further, and shown that they will not de-
fray the expenses Of their administration during that time,
that they are, the contrary. to be expense Of abou
500, 900 por the Gosernent during the whole
that time. This further point, being omitted by him. vii
show myself; and, for that purpose, will have
the estimates of expenditure for the management Of the public
lands for the ensuing year. These estimates
Office of the Commissioner Of the General Land
Office, p l3 Of the printed estimates - . ss2, 900 OC
Contingent expenses, same page. ... 65,9l2 sc
Surveyors General and their Offices D. a. &C. go OF
Survey Of the public lands, p. 80 49,, $40 OF
Expense of collecting the revenue from lands
page AZ. ITO, 200 OF