The miners' express. (Dubuque, Iowa) 1849-1854, 1852-12-22


Fork, and reversing prior decision of Mr.
Walker, Seer ny OF the Treasury, on the same
question. This actlon OF The General Govern
ment, was fatal to the prospect OF the improve
ment if adhered To. In the hope, however, that
tnis would not be the case the officers proceed
ed and concluded contract with Bangs, Broth,
| er 81 Co., to carry forward the work as far as
the means might permit. An { fort was then
made 10 prevent the injustice Of Withholding these
! lands from the Stale, which, t!lrou h lie ener-
gy Of the officers, and most able counsel proved
| successful. The decision of the Secretary of
| the interior was reversed, and the lands with
| held were restored to the State, thereby ensur-
| ing The means necessary tor the completion of
| the improvement. The claims for unliqudated
| damages were also disposed Of by voluntary
| arbitration, which resulted in an award in favor
of the contractors of twenty thousand
seven hundred and nnety-six dollars and eigh-
tp n'ne cents. by this report it will be seen
shat within the first year this work has rradu
ally recovered from the many and serious en-
barrassments which pressed upon it, and tina,
this is merely the result OF the energy, and
| steady perseverance fthe officers TO whose care
| it was entrusted.
| Their second annual report has Just been re-
| ceIved, and Is also herewith submitted Not.
outstanding the favorable prospect at the close
OF the ifst year, the progress and condition OF
he Improvement has been retarded by unex-
pected difficulties. Messrs. Bangs, Brother Il
Co have failed TO carry on their contract, and
efforts have been made to ensure the speedy
completion of the work by contracts with va
rious other persons, all of which have so far
proved unavalng-and present appearances in
dicate that 1t may be compelled to proceed only
as means may be realized from the sale Of The
lands Under the persevering efforts Of the
officers, the portions of the work begun have
progressed so far to re open the river fol
navigation by providing for the passage of boais
through the locks, and opening the channel be-
low st. Francisvil.e The bref period since
the report, will not allow me to examine the
suggestions contained therein, for the future
progress OF the improvement, sufficiently to
recommend any specific course Of action in re-
gaId to them. The Importance, however, oil
the subject will claim your earnest attention
and VIII recommend itself to your favorable
consideration, by every constitutional means in
your power, to ensure its completion at the
| earliest practicable period
In consequence Of the failure of Congress at
its last session to make donation OF land for
the construction of railroads in this State. il
would seem TO be again advisable to again uroe
TINS subject upon their consideration; and com.
ing as you do directly from the people, you will
be able TO understand their wants and their
!
| concession and harmony, conflicting views NAV
be reconciled, and such an application may be
made, as would conGuce to the best interest oi
the State; and meet with the appreciation Of the
| General Government
For the purpose of carrying ont the provis-
| ions OF an act of the General Assembly relative
to the Swamp lands within the State, | did on
the 22nd day of February, 1851, address a com
munication to Col. G. II. Booth then Surveyor
| General of Iowa and Wisconsin requesting him
TO furnish Inc with ga list of the lands returned
to that office as swamp lands" With this re.
quest he did not feel himself authorized to com
| ply unless the assent of the State should be
given to authorize him to select those lands
not finding myself authorized under the law to
| g We such assent the list was not furnished =
! On the first Of October 1851, | again renewed
| the same application to the present Surveyor
| General and on the 18th day Of March, 1859
| received the list as requested Being satisfied
| from the best information | could obtain that
much valuable land would be lost to the State
unless REORGANIZATION should be made, in
structions were promptly issued to the County
Surveyors, of each county where the public
lands had been surveyed, TO make more par.
ticular examination and report the same as soon
| as possible. Thus far reports have been receiv.
ed from the co. of Muscatine As it is desirable
that these returns should be made tn secure the
title to these lands to the State. would rec.
ommend that the law upon this subject be so
| changed as to authorize the employment of 9th.
er persons where the county surveyor neglects
or refuses to perform that duty.
In accordance with the directions of the last
General Assembly have purchased five hun.
dred dollars worth of books for the State Libra.
ry, which are daily expected. AS soon as they
are received the list of the same will be laid be-.
fore you.
In looking to the future | cannot avoid feel.
ing OF deep concern at the opinion expressed by
some portion of our fellow citizens in favor of
amending the Constitution of our State in such
manner as to authorize the establishment of
Banks,-of special acts Of incorporation for pc.
cunlary profit, and of contracting State debts
without limitation by the General Assembly.
Restrictions which are eminentlv calculated 10
protect the people from hasiy, unjust, and nu.
wise | gislat!on; and the time has come when
we should examine with more than ordinary care
the principles of political economy connected
with our government, and avert as far as posi-
bic approaching evils. Among the first of these
III my estimation is the system of banking which
has been and is now carried on in the United
States. The power of these institutions over
the commerce, trade and industry of country
Is easily understood when il IS remeub ,red that
they are invested by law with extraordinary pri.
viiegcs. First, to concentrate their capital and
credit, and 10 Issue their notes TO double and
even TRIBE the amount of that capital.
Second to loan their credit at HIGH rate Of
interest: and third, an exemption from the ordi.
nary liability to pay their debts and contracts to
which the majority of mankind are subjected.
Possessing these powers and privileges by the
sanction of law, and to the exclusion of others.
it is not surprising that the agricultural, com,
mercial, and manufacturing interest of the coun-
try should be subject to frequent and disastrous
commissions. The depression and ruin which
was brought upon thousands by the failure of
the banks of Illinois, and other Western States,
in lo4l, cannot be forgotten. And when we
find that number of these States, not profitinp
by former experience, have recently organized
general system of banking, for the purpose Of
again flooding the whole Mississippi valley with
paper currency, we may justly conclude that
another convRlsion, more destructive than the
first, will shortly be at hand. Would it be wis
dom in US, under such circumstances, and when
il is in the power of every citizen to retain if he
sees proper, gold and silver currency in the
State, to throw aside the sleet-anchor of our
safety, and cast ourselves upon the mercy Of the
waves?
In connection with this subject, may say,
with Nr. Madison, "illat the loss which Anne
'!''S DuS'elttd Js.'ttA tiiS ptSilltuLdl tIeCtS
Of paper money on the necessary confidence in
the public councils, on the industry and morals
Of the people, and on the character of republic
can government, constitutes an enormous debt
against the States, chargeabie with this unadvis-
ed measure, which must.long remain unsatsfied,
or rather an accumulation of guilt which can be
cspia.ed not otherwise than by voluntary sac
r;fce on the al ar of Justice" While system
of banking may serve the purpose of stimulating
the hopes and business pursuits Of community |
and islpart more than ordinary vigor to the cur
rent of traffic, during a season Of prosperous
credit. still it is always treacherous, and fraught
with too many uncertainties upon which to risk
he toll and industry of those who are generally
he least able to bear the losses incident to a pa
per currency, What is to be gained by the
great body of the pepoIe of this State by the
creation of banks among US, and the substitution
i paper currency, the inevitable tendency of
which will be to drive specie from circulation?
Will the result prove sounder and safer state
# affairs, after banishng gold and silver from
circulation, and placing the business rel- tons
f the State upon foundation, which the first
last of adversely may sweep away? Already
re have too much of this currency among us
Already has it, to great extent, driven the pre-
ious metals from the country, and if permitted
y ContInIlp will he parilous To our hest ,ntaraStg