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SENATE.]

Indian Bill.

[May 18, 1836.

States, unless, by any change of circumstances, the Pre- this kind. He had long believed that this Indian de: sident shall be induced to cause the same to be paid to partment was one of the branches of the Governmen them.

under which the greatest frauds would be perpetratedThis amendment was agreed to.

that, and the public lands, and the banking system. He The second amendment, increasing the appropriation only regretted that the speculators in Indian lands were for the expenses attending the execution of the treaty not the persons to suffer, instead of the frontier inbabitwith the Creeks, of March 24, 1832, from $7,000 to ants. It made his heart bleed to think of the sufferings $17,000, was agreed to.

of the innocent frontier settlers. All these evils, he The third amendment, increasing the appropriation said, bad been the result of mismanagement. The for the expenses of the Choctaw treaty, from $6,000 to persons appointed had been generally incapable or un$8,900, was agreed to.

faithful. The Government ought to have appointed Mr. WEBSTER then submitted several communica men of intelligence, of firmness, and of honor, who would tions from the War Department, showing that a consider have faithfully fulfilled their obligations to the United able addition would be required to the appropriations States and to the Indians. Instead of that, men were sent for removing Indians.

out to make fortunes for themselves, and to oppress the After these communications had been read,

Indians. He believed that the two Indian wars they Mr. WEBSTER moved to amend the bill so as to had had were the result of mismanagement, and that the conform to the estimates of the Secretary of War, which one that was announced that morning might be traced were founded on the supposed fact that 12,000 of the to the same cause. All this resulted from want of Creek Indians would be prepared to remove this summer. capacity or honesty in the agents sent out by the Gov. The amendment was agreed to.

ernment. Did he not see, on one hand, large fortunes Mr. LINN offered an amendment providing for the built up, and, on the other, the most degrading subsersalary of a clerk for the superintendent of Indian affairs viency to those in power? for the Territory of Wisconsin, ($1,200;) which was | The prominent cause of these Indian disturbances had agreed to.

been the reservations, which he had invariably opposed Mr. WRIGHT offered an amendment authorizing the from the first, predicting that they would be followed Secretary of War to invest, in some safe public stocks, by speculations, the grossest frauds, and by the greatest the sum of $33,000, the balance remaining from the injustice to the Indians themselves. He recollected that sales of the lands acquired under the treaty with the when the first Indian treaty, containing reservations, Seneca and Sandusky Indians; which amendment was was brought in the Senate, it was strenuously opposed by also agreed to.

a distinguished Senator from New York, (Rufus King,) Mr. WHITE submitted an amendment providing that who demonstrated the evils that these reservations would the appropriation of $40,000 for removing the Indians lead to. That treaty was confirmed; and since that of Wisconsin to the neutral ground on the borders of time the system had been kept up, always accompanied Missouri, shall not be used, unless said Indians will agree by the same abuses. There was no remedy for this to emigrate to the couniry on the south side of the Mis- state of things, but in the appointment of honest, capasouri river.

ble men, who would consult the interest of the GovernMr. W. explained the objects of the amendment, and ment and the welfare of the Indians, rather than their strongly urged its propriety. If these Indians, he said, own selfish purposes. Let gentlemen think of the were troublesome neighbors now to the whites, they course of this administration, and the consequences of would be equally so in the country to which it was pro- its mismanagement of public affairs. First, there was a posed to remove them. Indeed, they might as well re- French war threatened; then a Seminole war; next the main where they are, as to be sent to the very borders of probability of a war with Mexico; and now a Creek war. Missouri, and close upon the white settlements, and he all this was the consequence of converting this Govern. hoped that the amendment would be adopted; so that if ment into a political electioneering machine, instead of they were removed at all, they would be sent where they properly administering the high trusts that had been were not likely to give future trouble. Mr. W. spoke confided by the people. He hoped that some gentle of the delays in the emigration of the Indians; he did not man who understood this matter would explain the censure the Secretary of War, who had done every thing necessity of the appropriation. in bis power to hasten the emigration; but there was Mr. WHITE said these were Indians who inhabited blame somewhere, and it must be in the incompetence the other side of the Wisconsin river, and to whom we or unfaithfulness of some of the agents that had been had agreed to give a particular sum for their lands. employed.

They had remained in the place to which they had reMr. KING of Alabama said, the interest of speculating moved, until they had expended all their money, and white men had greatly retarded the removal of the then returned back again to their old place of habitation, Indians. The last agent appointed, he believed, was and were there now, to the great annoyance of the faithful, but bad found his energies counteracted by | people. The nation had an annuity of ten thousand dolthese interested whites. The Secretary of War had lars. The object of this provision was, (although we facilitated their removal, by taking measures to prevent were now under no obligation to advance them one doltheir being daily forced to travel unreasonable distances, lar,) that the money should be withheld, unless they and also to prevent their being exposed to inclement would go beyond the Missouri river, and remain there. weather. But notwithstanding every precaution used The white people were settled close by them; and unby the Government to prevent it, he believed frauds had less they were removed while in our power, they would been committed which caused the difficulty with the be on the whites, and serious difficulties would arise. Indians; and he therefore hoped the amendment con. It was a matter of regret that the Indian agent there, taining the appropriation might prevail.

who was an intelligent man, and had the subject much Mr. CALHOUN hoped that some gentleman who at heart, had recently died. understood the subject would explain the uses for which Mr. PORTER observed, that if the object was to place this appropriation was intended, and the prospect there these Indians on the immediate borders of Missouri, the was of its being applied so as to accomplish the object honorable Senators who 60 ably represented that State in view. For his part, he feared that it would, like could better judge than himself whether they would be other appropriations of the kind, be productive only of agreeable neighbors. For his part, lie was opposed to the greatest frauds. He had long anticipated things of the removing any more Indians to the borders of Mis

Mar 18, 1836.]

Indian Bill.

(SENATE.

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souri, Arkansas, and Louisiana, although there might kept up by a large military force. He repeated that have been some good reasons for removing them from there never was a time when it was so easy to keep the the interior of a State; yet when they came to the re Indians at peace. Their frontier posts were greatly moving them from the Territories, it would be well to extended, and the Indians were driv. back into the consider whether they were not doing more harm than prairies; and, though they were formidable in the woods, good by the measure. This was the first step, Mr. P. | being the best light troops in the world, they were said, in the removal of Indians from the northwest, to entirely helpless in the open plain. If they would applace them on the borders of the southwestern States. 1 point honest, faithful, intelligent men, to transact their He had much rather that the people of the northern business with the Indians, instead of broken down politipart of Missouri should submit to the inconvenience of cians, men sent out to be rewarded for party services, having such neighbors, than that they should be added these Indian disturbances would soon cease; but unless to the number of Indians already on the borders of that was done, it was apparent that there would be conLouisiana. Let the Indians on the north of Missouri, tinual disturbances, creating causes for wars, to be folsaid Mr. P., remain there; the people of the north lowed by a large increase of the standing army. He western States were not anxious for their removal; it should not oppose the appropriation after the explanawas only the speculators, who were anxious to get the tion of the Senator from Tennessee, but he feared that Indian titles to their lands extinguished. This con- it would be used to give jobs to reward some political tinually extinguishing Indian titles, while they had such partisans. large quantities of lands of the best quality yet unsold, Mr. LINN said he did not rise to prolong this discusbenefited no one but the speculator, who believed that sion, but merely to do justice to the character of an he could more readily get purchasers for the new lands, individual now no more. Injustice had been done the and that greater fortunes could be made by them. agent of the Sacs and Foxes, in saying that the Black

Mr. LINN exhibited to the Senate a statistical account Hawk war was caused either by want of character or of the number and location of the different Indian tribes, competency. He had the pleasure of an intimate acand said that the State of Missouri had objected to the quamtance with Mr. St. Vrain, the agent, and knew policy of locating them in her vicinity, but eventually him to be a man of sterling virtue, active, and of busisubmitted to it; and he would not now object to that ness habits, and very intelligent. He had done all that system of policy being carried out. He would rather mortal man could do to prevent the war with Black see them located on one frontier border than on two, as Hawk, and was cut off in the prime of life by a band of it was easier to establish an efficient line of posts for the the Winnebagoes, who were on their way to join the protection of one, than it would be for the protection of forces of Black Hawk. He fell in the discharge of his two frontiers. He agreed with the views of the Senator duty to the Indians and to his country. The appointfrom Tennessee, [Mr. WHITE.] It was too late to in- ment of agent was not given to him from political consi

into the fact as to whether they had been derations, as he was known to be what was then called cheated, which had been admitted from the beginning. a Clay man. The Senator from South Carolina (Mr. CALHOUN) was Mr. WHITE repeated, that if these Indians were not mistaken as to the Black Hawk war. In that case, the removed southwest of the Missouri, difficulties and Indians were bought off by salt and corn, and came back schisms would take place between them and the whites. again expecting to be bought off again, and, being disap- But, by removing them southwest of the Missouri, we pointed in not being bought off, commenced hostilities. would have a natural boundary between them and our

Mr. CALHOUN regretted much that the Senator people. And if he belonged to Missouri, he would prea from Indiana, (Mr. TIPTON,] who knew more about the fer having them removed across the river; for although origin of Black Hawk's war than any body else, was not they might be nearer, they could not be so annoying in his place. That gentleman rose in his place, and to the whites as if on two borders, and not bounded by declared that that war broke out in consequence of the any natural boundary. The plan was, if they were mismanagement of the officers of the Government. Let removed there, to have laws adapted to them enacted the Senator from Missouri recollect that this acknowledg. for their Government. But if removed to where they ment came from one of the warmest friends of the now own the lands, no practical benefit would result administration.

from it. Take them from among the settlements in He acknowledged, with the Senator from Missouri, Wisconsin, under the direction of a faithful agent, and, that the Indians had been treated wrong from beginning instead of endangering, they would add to the safety of to end; which, unfortunately, would ever be the case, the States near whose borders they were to be removed when savage and civilized man came in conflict; but this to; and so far from being apprehensive of any injury was no reason why they should suffer their agents to from them, their attachment was so strong to the United practise frauds both against the Indians and the Govern. States, that he would repeat what he had said before, ment. They ought to have honest, intelligent, and that if the country was in need of volunteers, there was active men to manage their Indian affairs, or there never no part of our white population that would make more would be an end to these abuses. There were no peo. faithful soldiers than they. If they were to remain to ple on earth so easy to deal with as our half-civilized annoy our whites, they might as well remain where they Indians. It only required ordinary justice, a inild but were, as to remove them back to the place proposed in firm course of conduct, with a strict adherence to truth the bill. in all transactions with them; and it was the easiest thing Mr. WALKER did not rise to continue this discussion, in the world to keep them quiet. The Senator spoke but to notice some observations that had fallen from the of the cordons of Indians around the frontier; but let Senator from Louisiana, Mr. PORTER.] The Senator him look to the heavy annuities paid them, which made supposed that the removal of the Indians from Mississippi it their interest to keep at peace. With proper manage and Alabama to the borders of Louisiana, had operated ment, they were the best allies we could have to keep unfavorably towards that State. Now he took it upon off the wild Indians at a distance. He saw, he said, very himself to say that it was a measure the most favorable plainly, the progress of events. These Indian disturb to her interests; the Choctaws, the Indians thus removances were to furnish the pretext for a large increase of ed, baving been uniformly the friends and allies of the the standing army. This was the consequence of carry. United States, from the time of the revolution to this ing out the principles of the spoils party, enriching menday. These Choctaws had invariably been our warmest with large jobs and contracts, and the system to be l friends; they had fought by the side of our riflemen,

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both in the revolution and in the last war. And as the disagreement of the House was to change the character Senator from Tennessee well observed, he would rely of this volunteer force from regular soldiers to volunon no volunteers sooner than they for faithful and effi. teer militia. The bill, in this particular, as it came from cient service. If the Senator from Louisiana would in the House, might bave been informally worded; but he quire at the War Department, he would find that these thought the intention of that body was sufficiently exChoctaws had offered to raise a thousand volunteers to pressed that this should be a volunteer militia, and not act against the Seminoles. So far from the removal of a regular force. He hoped that the Senator from Alathese Indians having been a disadvantage to Louisiana, bama would, in a spirit of conciliation, agree to add to the putting them on her frontiers rendered her more his motion a request for a conference. Mr. C. then secure.

moved to amend the motion of Mr. King, by adding the Mr. PORTER said, if the people of the States of words, "and ask for a conference.” Mississippi and Alabama loved these Indians so, they | Mr. KING of Alabama asked for a division of the ought not to permit them to pass beyond the lines of question as it stood; and after a discussion, as to the their States. 'He apprehended there would be nothing points of order, between Messrs. CALHOUN and KING but “weeping, wailing, and gnashing of teeth," on ac of Alabama, count of the dear Choctaws being removed away be. The CHAIR stated that the proper question would yond the Missouri river; but he contended, however, be, “Shall the question on the motion of the Senator that, whatever might be the state of their feelings now from South Carolina be first put?” towards the whites, there was no certainty as to what This question having been decided in the negative, it might be in the coming generation or a hundred years Mr. CALHOUN withdrew his motion, hence.

The question was then taken on Mr. King's motion "Mr. WALKER replied that the people of Mississippi | that the Senate insist on its amendment, and decided in and Alabama never intimated that these Choctaws were the affirmative. troublesome or dangerous neighbors; it was only be Mr. HUBBARD thought that it would expedite the cause they occupied a valuable territory in these States, passage of the bill through both Houses to have a conkeeping the States dismembered, that they wanted them ference with a committee of the other House. removed.

Mr. CALHOUN renewed his motion to ask for a Mr. WHITE's amendment was then agreed to.

conference; which motion was agreed to; and the comAfter being further amended, the bill was ordered to mittee, with the unanimous consent of the Senate, was be engrossed for a third reading.

appointed by the Chair, consisting of Messrs. CalPAYMASTERS.

HOUN, King of Alabama, and BUCHANAN. A bill to authorize the President to appoint three ad

TRANSFERS OF PUBLIC MONEY. . . ditional paymasters, was read a third time.

The following resolution, submitted on Tuesday by Mr. BUCHANAN requested that the bill should lie Mr. Ewing of Ohio, came up for consideration: until to-morrow. He had received a long letter from a Resolved, Tbat the Secretary of the Treasury be difriend, in whose judgment he had much confidence, rected to inform the Senate what amount of transfers of against the whole system of paymasters.

the public money has been made by his direction, since Mr. PRESTON, although willing to accommodate, the 30th of June last, from the Commercial Bank of Cinstated that he felt himself, in this instance, acting under cinnati, and also from the Clinton Bank of Columbus, restraint. He referred to the state of the country, and to banks east of the Alleghany mountains; giving the the absolute necessity which existed for these additional date and amount of all such transfers, and the banks paymasters.

from and to which they were made. And, also, that Mr. BUCHANAN reiterated his request, and said, if he inform the Senate what transfers are ordered from the bill were laid over one day, he should not be inclin each of the abovenamed banks, and when and to what ed to oppose it. If not, he should be obliged to put banks they are to be made; that he also inform the his information in the bands of a member of the flouse. Senate wbat amount of transfers was made to each The bill was then passed.

one of the said banks in Ohio, since 30th of June last, On motion of Mr. WHITE,

and what amount, if any, is now ordered to each. The Senate proceeded to the consideration of execu Mr. HUBBARD moved to amend the resolution by tive business; after which, the Senate adjourned. inserting " and the Franklin Bank of Ohio,” which

was also a deposite bank in that State, and which was

omitted in the resolution in its original form. THURSDAY, MAY 19.

Mr. EWING, of Ohio, explained his object in moving VOLUNTEERS.

the resolution. He said that, about the middle of last On motion of Mr. KING of Alabama,

month, a resolution had been adopted by the Senate, The Senate proceeded to the consideration of the dis. inquiring of the Secretary of the Treasury whether he agreement of the House to the Senate's amendment to had given to the deposite banks power to direct what the bill authorizing the President to accept the services currency should, and what should not, be received for of volunteers for the defence of the frontiers; when, the public lands; and also what amount of the public

Mr. KING of Alabama moved that the Senate insist on moneys had been, since the 30th of June, 1835, transits amendment. He looked on this amendment of the ferred, by his directions, from the four northwestern Senate as a very important one, and that without it the States and the Michigan Territory to the Eastern corps to be raised would not be an efficient one. The cities, and whether further transfers were ordered. difficulties with the Executives of the States, with regard This resolution, said Mr. E.,) after long delay, drew to the appointment of the general and field officers, forth two answers, in all occupying hetween twenty and would effectually prevent this corps from being so or thirty printed pages-a mass of matter, intricate, ill-diganized as to be efficient and useful. He hoped that gested, and involved, so that few persons can have the the Senate would insist on its amendment, and that a patience to read it; and most of those who do, will rise message would be sent to the House without delay, from the perusal without deriving any certain or definite so as to expedite the passage of this bill as much as notion of the meaning of the Secretary, and with few possible.

facts distinctly impressed upon the mind. This, howevMr. CALHOUN understood that the effect of this er, is, I presume, rather the misfortune than the fault of

May 19, 1836.]

Transfers of Public Money.

[SENATE.

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the Secretary; it is very much in character with all 30th June, 1835, been transferred from eastern cities
his state papers. He explains upon the plainest prop to the West and Northwest, for public expenditure, but
ositions in the world, until he obscures them. Even was still remaining on hand.”
his figures, in his financial tables, are repeated and in- And again, in page 3, he says:
yolved, until they become nearly unintelligible.

“ The probability therefore is, that, from June, 1835, I have examined these reports with great care, and to the 238 of April, 1836, the whole amount of transfers I am still at a loss to say whether the direct inquiries put of money collected for sales of land alone, and made to him by the Senate have, in one part or another of his from Ohio to the east of the Alleghany mountains, report, or in all together, received an answer. If they deducting the amount brought there by transfers from have, those answers are to be sought after and sisted from elsewhere, has been little or nothing; as the amount of among so much trash, that it costs more than they are transfers thence of money received from all sources, and worth to find them. It is as if he had owed an ounce of beyond what has been transferred to Ohio during the gold, and should pay it by delivering a wagon-load of same period, was only $45,000. This equals about sand, containing the ounce of gold distributed through it 1-253d part of the amount which, during that period, in dust.

has been received from the sales of land in Ohio, and But I have gone through the labor (from which God still leaves in that State over one million of dollars of preserve my friends!) of reading and examining this re-l public deposites; and in her banks, including the agenport; and I find that its tendency, in one most important cy, about two and a half millions of dollars of those departicular, is to produce a false impression, and I, on a posites." cursory reading, was in fact deceived by it. Hence. And in page 11 he gives the banks from and to this resolution which I have offered, to get, if possible, which the transfers bave been made, without specifying something in plain and direct language, such as sums amounts. Thus: and dates, which will set the matter right.

« From the Commercial Bank of Cincinnati, and its It will be recollected that a circular of the Clinton

agency at St. Louis; Bank of Columbus, one of the deposite banks in Ohio,

Clinton Bank, at Columbus; gave rise to the former resolution of inquiry. 'That cir.

Bank of Michigan, and Farmers and Mechanics' cular informed the other banks in Ohio that none of

Bank, at Detroit: their notes would be received in payment for public And to the Union and Franklin Banks, at Baltimore; land, except such as would agree to redeem them by

Girard Bank, and Moyamensing Bank, at Philadrafts on some of the Atlantic cities, at thirty days' date;

delphia; and giving as a reason for such a harsh requisition, that

Bank of America, nearly all the public money which they received had ne

Manhattan Bank, and Sat New York.” cessarily to be transmitted there. This reason for the

Mechanics' Bank, S. inquiry was fully developed in the remarks which I made Now, sir, I ask you what you would understand from on presenting it. It was to ascertain from the Secretary this? Would you understand that nearly the whole whether this constant drain of our western funds was in amount paid into the Clinton Bank at Columbus, which fact going on; whether the public money was, as fast as was the principal subject of inquiry, had been transmit. it was paid in for lands, transmitted by order of the Treas. ted, or was under order of transmission, to the favored ury to the eastern cities. The resolution further directs banks in the eastern cities? Would any one believe it, him to state to and from what banks such transfers have who for a moment supposed that a fair, full, and true been made.

answer was intended to be given by the Secretary of the In answer to this, the Secretary says, in his second re- Treasury to the call of the Senate? Sir, I believe the port, pages 1 and 2:

answer to be true, not only in the letter, but the spirit. "All the transfers of public money, from the 30th When matters which occurred in the Post Office some June, 1835, to the 23d of April, 1836, derived from time since are not fresh in my mind, I am in the habit every source, and made from the western States speci- of thinking that our high public officers are above this fied; to any cities east of the Alleghany mountains, have very pitiful evasion, and even statements calculated to been as follows: From Ohio, deducting the amount sent deceive. I supposed the report of the Secretary conthere within the period named, by previous transfers | tained the whole truth; and, thinking so, I, on its coming from Indiana and the agency in Missouri, only $45,000; in, felt bound to do him what I supposed to be justice, (there having been transferred to Ohio $1,570,000, and and to cast the blame elsewhere, of a part, at least, of from there but $1,615,000.) From Indiana, except the mischiefs which were brought upon the public. those to the Commercial Bank of Cincinnati and its But a day or two ago I received information which led agency at St. Louis, and thence to eastern cities, $00. me to believe that I had been deceived by the report of From Illinois, except the deposites from that State the Secretary. In order to settle that matter, I offered made in St. Louis, Indiana, and Michigan, and includ-this resolution, which is so framed that I think he cannot ed in theirs, $00. From Missouri, except through evade or slur it over. This morning, my resolution the agency of the Commercial Bank of Cincinnati, $00. being on your table, I find in the Globe the following,

“ But, from Ilinois, Missouri, and Indiana, through | which, from its professed exactness, I presume has its deposites in the agency of the Commercial Bank, and origin in or near the Treasury: transfers thence directly to the eastern cities, $200,000; " THE CLINTON BANK.-Some of the opposition memand circuitously from those three States to Ohio, and bers in both Houses of Congress, from Ohio, have most thence east, about $1,015,000 more, (viz. in all, from shamefully assailed this institution of their own State, Indiana about $470,000; from Missouri about $500,000; because it is one of the deposite banks. and from Ilinois about $845,000.

"Mr. Ewing represented that only 45,000 dollars of “From Michigan, of all deposited there, from all quar- the public money had been transferred by this bank ters, the sum of $2,050,000.

during the past year. This had been already shown to “These sums, amounting to $3,865,000, constitute be altogether fallacious. But, in justice to the Clinton the aggregate of all the transfers from all the western Bank, we state, that we are informed this bank transand northwestern States, and the Territory named in the ferred, in less than one year, 495,000 dollars, and that resolution, to any part of the East, whether consisting by the 20th of next month it will have transferred of money received there for lands, customs, debts due, 200,000 dollars more; and all without the smallest exmiscellaneous sources, or money which had, before the pense to the Government."

SENATE.]

Transfers of Public Money.

(MAY, 19 1836.

So much for giving too easy credence to official know that their effect is to distress and embarrass the statements, and to the candor and fairness of executive people. But we have a clew to much of this matter officers.

in another part of the report. I have frequently assertThere are a few other matters set forth in this report, ed upon this floor my conviction that the public deposites which I think it proper to notice. The Secretary, after were made the fund with which companies of specustating the amount of transfers from the West to the lators, with enormous capital, purchase in the choicest East, says (page 7) that " this small amount of parcels of the public land. Now, sir, bear in mind what $3,500,000 has been transferred from banks and States is said in the above paragraph respecting transfers of the where the excesses had become unprecedentedly great, public money from the Northwest to the Atlantic cities, to banks and States where there is still a deficiency and from those cities to the Southwest; bear in mind for all probably just and useful fiscal objects during the this suggestion, and then examine with me the actual current year." And in another part of the report he condition of things, and you will, I think, perceive its says that the amount of these transfers from these solution. northwestern States have been but about one million First, then, it will be perceived that the Secretary of greater than the transfers from one single city (mean the Treasury, either by himself or his agents, the de. ing, I suppose, New York) to other parts of the Union. posite banks, requires that eastern funds only shall

Now, if there have been in fact, as is stated in the be paid for western lands; for, if the notes of banks be Globe, (and I suppose the statement is by authority,) taken, who agree to redeem their notes in eastern funds. these large transfers made and still making from the it is in effect the payment of eastern funds for the Clinton Bank, is it true that it was because there was lands. They alone answer the purpose; and where they an excess of the public money in that bank, and in that are not to be had, no purchases can be made. The peodistrict of country? The Clinton Bank is the only one ple in the western States cannot get those eastern funds, having deposites which can use them in any manner to nor can they get specie to any extent, for it is not in the advantage of the northern and eastern half of the the country, except what is in the vaults of the banks; State of Ohio, and that bank I believe has not had more and they dare not loan in such manner as to draw it at any one time than about $400,000. The banks to from them. The public lands, then, can be purchased which the transfers have been made, within the distance only by those who have the confidence of the eastern of about two hundred miles on the seacoast, have about deposite banks; that is to say, the companies of specula$20,000,000, and are in the receipt of nearly all the cus- tors who are formed in the eastern cities, and who are toms. They, it seems, are to hold on to all they have buying up the whole western country. The Secgot and all they receive, and the transfers to them from retary of the Treasury intimates, (p. 6,)--what is no the West are to meet and balance the transfers from them doubt the fact that nearly all the money paid for lands to other parts of the Union. How stands the alleged comes from the eastern cities; and he is pursuing the deficiency of the money in these city banks for ordinary course which will make it continue to be so. He is maexpenditures! They have now about twenty millions, king the fund in the deposite banks in those cities inexand they will probably receive from customs, within the haustible, by returning the public money to them as fast year, twelve millions more. How is this to be expend. as it is paid in for lands in the West; so that it has only ed? and where the necessity of these further transfers, to take its round, and be paid and repaid for lands, at this perpetual drain on the West, of all the money that the pleasure of those who manage it. For example: is in it, or that is brought to it?

the Manhattan Bank lends a million of dollars to a comBut as a further excuse for these heavy transfers, of pany of land speculators, who choose to purchase up which he himself evidently feels the injustice, the Sec- and monopolize all the fine land in the northwestern retary says, in pages 9 and 10 of his report:

part of the State of Ohio, or in the adjacent parts of In“It is proper to add, further, that the prospect of an diana and Michigan. The notes of this bank, being reinterruption of trade, if not a war with France, existed ceivable for public lands, are given to the company on when many of these transfers were ordered, and when their loan, and by them paid into the land offices; they it was anticipated that great and unusual expenditures are paid over by the receiver to one of the Detroit banks would, at an early day, be authorized on the seaboard; or to the Clinton Bank of Columbus, and by them trans. and that, since the prospect of those difficulties has dis-mitted, under an order of the Secretary of the Treasury, appeared, and the protraction and expenditures inciden- / back to the Manhattan Bank; that bank, then, can lend tal to the Indian war in the South, as well as the indi. these same notes out again to the same company, and cations of trouble on the Mexican frontier, have in. they will do to buy land again three or four times in the creased, the new transfers, become proper by new ac- course of the summer. If they happen to get worn out cumulations, have been mostly turned in a different di- , in the service, it is very easy to supply new ones; for rection, towards the southern quarter of the country, these companies, which make large entries, use large and rendered more easy, by following the course of bank notes. Those of $500 or $1,000 suit their purpose much of the heavy trade down the Mississippi. For like very well, and it will be no hardship to them if small reasons, the surplus at the South and Southwest has re- notes are no longer receivable for public lands. cently been allowed to augment more, and considerable! You see, Mr. President, how this thing works. No transfers have been made thither from New York, as well one can be blind to it. The rage of speculation is thus as the West, and several large payments made by war carried to its height, and the means of speculation is, rants on the New York banks in favor of the disbursing by the custody of the public funds, made infinite; there officers in the South."

is no conceivable bound or limit to them, when the Now, if the prospect of a French war was indeed the speculators can secure the confidence of the deposite cause of any of these transfers, as is intimated, why is it banks, and the favor of the agents of the Treasury: that, since the prospect of war has ceased, those trans And what does the public get for these lands? Nothing fers still continue to be ordered? And why is it that, at all. You pretend to make cash sales--gales for while transfers are made from Ohio to New York, trans funds better than specie; but they are in effect sales on fers are also ordered from New York to the Southwest, credit. You trust ihe deposite bank--the deposite bank instead of permitting them to take the easy current of trusts the purchaser--not a dollar of specie or any thing trade down the Mississippi, where the produce of the available is paid into the Treasury, in the mean time West finds its earliest spring market?" I know not you part with your most valuable lands, and they go inwho may profit by these circuitous transfers, but I do to the hands of those who will sell them out at five

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