But in addition to the general considerations which rendered the early
sale of these lands proper, it was a leading object at this time to
derive as large a sum as possible from this source, and thus diminish by
that amount the public loan rendered necessary by the existence of a
foreign war.
It is estimated that not less than 10,000,000 acres of the public lands
will be surveyed and be in a condition to be proclaimed for sale during
the year 1848.
In my last annual message I presented the reasons which in my judgment
rendered it proper to graduate and reduce the price of such of the
public lands as have remained unsold for long periods after they had
been offered for sale at public auction.
Many millions of acres of public lands lying within the limits of
several of the Western States have been offered in the market and been
subject to sale at private entry for more than twenty years and large
quantities for more than thirty years at the lowest price prescribed by
the existing laws, and it has been found that they will not command that
price.
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