FOREST COMMISSIONERS REPORT. 47 



purchasers and speculators ; when sales were made so exten- 

 sively that, in 1795, the legislature found it expedient to put a 

 stop to them entirely. 



About the year 1790. the value of the lands was rising fast 

 in the public estimation, and the attention of those who were 

 interested in the establisliment of literary, and other ])ublic 

 institutions, was attracted towards them, as a fund from which 

 the legislature might easily endow those institutions, without 

 any burden upon the community. Applications were accord- 

 ingly made for those objects, and lands were readily granted. 



After the sales were suspended in 1795. the thirst for specu- 

 lation not subsiding, and having no longer any opportunity to 

 gratify itself, by ])urchasing from the Commonwealth, it incor- 

 porated itself with the ardor which was then exhibited for the 

 establishment and endowment of literary institutions ; and 

 applications for grants of land, for their endowment and sup- 

 port, increased, and were not frequently rejected. Other 

 objects however soon came in for their share; and, for a time, 

 the legislature was continually, and, in general, successfully 

 importuned, not only for grants to colleges, academies and 

 schools ; but to roads, bridges, canals and other purposes. A 

 large proportion of these grants were immediately purchased of 

 the trustees of the institutions to which they were made ; but 

 some of them still remain in the hands of the original grantees. 

 It was found after a time, that more land had been thrown into 

 the market than the exigencies of the country, for the time, 

 required ; more purchases had been made with a view to a 

 speedy profit from re-sales in smaller parcels to actual settlers, 

 than was sufficient to meet the demand of the increasing popula- 

 tion ; and more families were contracted to be ])laccd, in a 

 given time, on the lands thus purchased, than could easily be 

 obtained. Of course the fever for speculation abated, and the 

 purchasers were left at leisure to employ themselves in improv- 

 ing the value of their property, or waiting until the progress of 

 the population of the country should bring it again into demand. 



