reduced prices to settlers and cultivators, in limited quantities. If
graduated and reduced in price for a limited term to $1 per acre, and
after the expiration of that period for a second and third term to lower
rates, a large portion of these lands would be purchased, and many
worthy citizens who are unable to pay higher rates could purchase homes
for themselves and their families. By adopting the policy of graduation
and reduction of price these inferior lands will be sold for their real
value, while the States in which they lie will be freed from the
inconvenience, if not injustice, to which they are subjected in
consequence of the United States continuing to own large quantities of
the public lands within their borders not liable to taxation for the
support of their local governments.

I recommend the continuance of the policy of granting preemptions in its
most liberal extent to all those who have settled or may hereafter
settle on the public lands, whether surveyed or unsurveyed, to which the
Indian title may have been extinguished at the time of settlement. It
has been found by experience that in consequence of combinations of
purchasers and other causes a very small quantity of the public lands,
when sold at public auction, commands a higher price than the minimum
rates established by law. The settlers on the public lands are, however,
but rarely able to secure their homes and improvements at the public
sales at that rate, because these combinations, by means of the capital
they command and their superior ability to purchase, render it
impossible for the settler to compete with them in the market. By
putting down all competition these combinations of capitalists and
speculators are usually enabled to purchase the lands, including the
improvements of the settlers, at the minimum price of the Government,
and either turn them out of their homes or extort from them, according
to their ability to pay, double or quadruple the amount paid for them to