The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1881-06-21

The FLoR1DaAN has heretofore RETAINED from
mentiou of this matter for prudential reasons,
and because Il seemed best to wait untii The
projected sale was An accomplished fact, rather
than To rush into print with rumon and specn-
lalious. We have had in the past eight or ten
years % many rumors Of proposed sales, all of
which failed, that We deemed It unadvisable to
discuss the matter until Il was placed upon
something like . solid foundation.
The sale may now be considered an accom-
plished fact, and constitutes the largest transac-
ton ever consummated with reference to the
public domain of the State
The last three administrations have recognized
the absolute necessity Of disencumbering the In
ternal Improvement Fund. The interest upon
the bonds. for which the Fund was liable, as fast
as 1t fell due at once became interest-bearing,
thus causing the Fund to be responsible for a
debt that was bearing compound interest The
accumulation OF this interest, when added 10 the
enormous expenses arising from proctracted liti-
CATION with Vose and others, increased the debt,
notwithstanding the large amount of lands sold.
The debt against the Fund is much larger to-day
than it was, cay ten years ago, notwithstanding
the sale and application Of the proceeds of hun.
dreds of thousands of acres of land.
Indeed the increase of the debt has been at
such proportions that In few more years all the
lands in the Fund would not have been sufficient
to meet it The Board was confronted with the
alternative 10 sell now and thus save many mil
lion acres for purposes of internal Improvement
or to delay and allow the entire Fund to be ex-
hausted by the rapidly increasing debt.
Another danger confronted them. The cred!
tors, seeing the Fund decreased by yearly land
sales and their debt increasing at the same time,
became FESTIVE as to their security and il was
an open secret" that they would move at the
next term.pf court TO have the entireSFund taken
from the Board and placed under their own con-
troll, thus virtually swamping the entire Fund ,
or would ask that sufficient quantity of lands
be set aside at 20 cents per acre 10 cover their
claims.
1t will thus be seen that the Board adopted
the only alternative left that gave any hope of
success, viz: to sell enough land to pay the debt
and have the remainder clear. AS business
proposition it was commendabe in the highest
degree. Former administrations havehad agents
in their employ for the purpose of making such
a sale as they all felt the necessity of accomplish
ing it, but without avail. That the present admin
stration has, unaided accomplish ed the sale, is
subject of the highest generalization to the PEG
pie of the Slate; and the more ii is considered
in all its bearings the more the transaction will
be commended.
The lands could not be donated in aid of rail-
roads or other internal improvements 50 long as
this debt or mortgage hung over them, as the
State could give no titles to them. The remain
der of the lands now belonging to the Fund can
now be freely used by the State for such purposes
The sale will place. at once million dollars
upon the tax books. 1t will cause the expendi-
ture of many millions more by the purchasers, in
drainage, reclamation and inducing immigration
The purchasing company has already secured
immigration agents. and expects next winter to
settle large number in our State. We will
thus, in short time, have 100000 acres of the
public domain, utilized and settled and made a
source Of revenue TO the State.
In all its bearings, we consider the sale more
important event, and pregnant with greater re-
suits to the welfare of the State, than any trans
action, certainly, since reconstruction. 1t places
our State on the high road TO progress that in a
few years will be felt and recognized by every
citizNR II will largely increase our taxable
resources and thus enable us in the near future
to pay our State debt and decrease taxation
We will discuss this matter more fully at some
future time, for the better it is understood, the
greater will be the qualification at its early con-
Summation. 1t is progressive movement on the
part of the present administration outside of old
ruts, and means future progress and development
to the great interests of the State