Experience has proved that foreign coin, and especially foreign gold
coin, will not circulate extensively as a currency among the people. The
important measure of extending our specie circulation, both of gold and
silver, and of diffusing it among the people can only be effected by
converting such foreign coin into American coin. I repeat the
recommendation contained in my last annual message for the establishment
of a branch of the Mint of the United States at the city of New York.
All the public lands which had been surveyed and were ready for market
have been proclaimed for sale during the past year. The quantity offered
and to be offered for sale under proclamations issued since the 1st of
January last amounts to 9,138,531 acres. The prosperity of the Western
States and Territories in which these lands lie will be advanced by
their speedy sale. By withholding them from market their growth and
increase of population would be retarded, while thousands of our
enterprising and meritorious frontier population would be deprived of
the opportunity of securing freeholds for themselves and their families.
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