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WRITINGS OF SAM HOUSTON, 1842
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time for the conduct of government, does not exceed one sixth of the amount annually allowed to his predecessor for the adminis- tration of the civil department. The depreciation of our funds and the embarrassment of our currency, have arisen from various causes; among which are the repeal, in effect, of direct taxation, thereby cutting off an im- portant branch of revenue- the want of power to enforce the collection of impost duties, and the establishment of the ware- house system. To these may be added the failure of the recom- mendation made to the last session of Congress, involving, as was conceived, matter of the highest consideration in the establish- ment of a currency- I mean the hypothecation or disposition of a portion of the Cherokee country as a guarantee for the ultimate redemption and present absorption of the Exchequer bills. Had the Executive been authorized to have had surveyed and brought into market, two hundred thousand acres of those lands, under such regulations as he might have deemed advisable- fixing the minimum price at two dollars per acre- the entire amount of Exchequer bills would long since have been withdrawn from circulation, and a large amount of gold and silver, intro- duced into the country as a circulating medium, whilst the impost duties, would now have been paid in specie. This, too, could have been done without incurring any expense to the government. The cost of bringing into market and disposing of the lands could have been defrayed without requiring the advance of any means for that purpose. To these causes the present condition of our currency, in the opinion of the Executive, may be mainly ascribed, and he would most earnestly recommend them .to the scrutiny and consideration of the Honorable Congress, believing, as he does, that the existence of the Government depends upon the policy and principles he has laid down. Without resources no civilized nation was ever known to exist, and that we have ample resources to sustain ourselves, no one who will reflect a moment can doubt. The extent of ·public do- main owned by Texas, and yet unappropriated, cannot amount to less than one hundred and fifty millions of acres- resources, in proportion to our population, unparalleled by any other country; but yet they lie neglected and profitless. Since the present administration commenced, contracts for col- onizing a small portion of our vacant territory, have been made on terms altogether more advantageous to the government than
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