PUBLIC LANDS. 171 



having a pre-emptive right, can purchase. After they have 

 been offered at pubhc sale, they are open to every purchaser 

 at private sale. 



The price of all the lands is fixed at a uniform minimum 

 of one dollar and a quarter per acre. A bill is now before 

 Congress, providing for the graduation of the prices of those 

 that have been a long time in the market. The graduation 

 of the price of public lands, and a liberal permanent pre- 

 emption law, are objects of the greatest importance to all the 

 west. 



In the year ending December 1, 1844, 6,693,368 acres of 

 new land were offered in the market, beside a great amount 

 that was then on hand that had been previously offered : of 

 this amount 1,747,158 acres wxre sold, mostly in small sub- 

 divisions of 80 and 160 acres — an excess over both the 

 precedmg years. In 1843, the number of acres sold was 

 1,605,264. 



There has been a great misunderstanding on the part of 

 the executive branch of the government, in relation to the 

 value of the mineral lands. Mr. Spencer, when Secretary 

 of War, in his annual report (1843 ?) stated the value of the 

 mineral reservation in the lead district at $50 per acre ! ! ! 

 and recommended their sale at an extravagant sum ($20) as 

 the minimum. Now, the statement already made of the 

 annual proceeds of these lands, shows them to be of no 

 gi'eater value than farming lands ; and if they were put up 

 for sale to-day, at the minimum of $1,25 per acre, a great 

 portion of them would remain unsold. A law has passed 

 Congress at the present session to offer these lands for sale 

 at a minimum of $2,50 per acre. Under this law but a 

 small portion of the mineral reserve will be sold to actual 

 miners, who know its value, though perhaps a good deal may 

 be disposed of to unwise speculators. 



