The debt for which these lands were pledged by Congress may be
considered as paid, and they are consequently released from that lien.
But that pledge formed no part of the compacts with the States, or of
the conditions upon which the cessions were made. It was a contract
between new parties--between the United States and their creditors.
Upon payment of the debt the compacts remain in full force, and the
obligation of the United States to dispose of the lands for the common
benefit is neither destroyed nor impaired. As they can not now be
executed in that mode, the only legitimate question which can arise is,
In what other way are these lands to be hereafter disposed of for the
common benefit of the several States, "_according to their respective
and usual proportion in the general charge and expenditure?_" The
cessions of Virginia, North Carolina, and Georgia in express terms,
and all the rest impliedly, not only provide thus specifically the
proportion according to which each State shall profit by the proceeds
of the land sales, but they proceed to declare that they shall be
"_faithfully and bona fide disposed of for that purpose, and for no
other use or purpose whatsoever_." This is the fundamental law of the
land at this moment, growing out of compacts which are older than the
Constitution, and formed the corner stone on which the Union itself
was erected.

In the practice of the Government the proceeds of the public lands have
not been set apart _as a separate fund_ for the payment of the public
debt, but have been and are now paid into the Treasury, where they
constitute a part of the aggregate of revenue upon which the Government
draws as well for its current expenditures as for payment of the public
debt. In this manner they have heretofore and do now lessen the general
charge upon the people of the several States in the exact proportions
stipulated in the compacts.