THE INFLUENCE OF LAND POLICIES 117 



time in response to changing conditions and public 

 sentiment. But the underlying motive has been 

 adhered to, and the nation has prospered by it. 



Speculation in western land ran riot in the decade 

 from 1830 to 1840. This was traceable largely to 

 the inflated condition of the currency, the loose 

 banking practices and the rise hi prices of farm 

 products. Land in the West had been increasing in 

 price for some years previous to 1830, but in 1833 

 the sales reached the enormous figures of 3,856,278 

 acres, and in 1836 the number of acres sold exceeded 

 twenty million. 



The first general preemption act was passed in 

 1830, and this was superseded in 1841 by the perma- 

 nent act. "The essential conditions of preemption 

 are actual entry upon, residence in a dwelling, and 

 improvement and cultivation of the tracts of land." 

 This policy of our government was gradually de- 

 veloped out of experimentation with our public land 

 policies. It had the effect of gradually transferring 

 land speculation into legitimate practices of land 

 utilization. 



The passage of the Homestead Act in 1862 marked 

 another milestone in the land policy of the United 

 States. It was the logical outcome of the pre- 

 emption system and represented the final policy of 

 the government in disposing of the public domain. 

 The essential aim of this act was the grant of a free 

 homestead to actual settlers. The total acreage for 

 each settler was not to exceed 160 acres. Five years' 



