at the public sales of lands, had united for the purpose of driving
other purchasers out of the market and in deterring poor men from
bidding. The committee detailed how these companies and individuals
had fraudulently bought large tracts of land at $1.25 an acre, and
sold the land later at exorbitant prices. It showed how, in order to
accomplish these frauds, they had bought up United States Land Office
Registers and Receivers. [Footnote 8: U. S. Senate Documents, First
Session, Twenty-third Congress, 1833-34, Vol. vi, Doc. No. 461:1-91.]

Another exhaustive report was handed in by the United States Senate
Committee on Lands, on March 3, 1835. Many of the speculators, it
said, filled high offices in States where public lands bought by them
were located; others were people of "wealth and intelligence." All of
them "naturally united to render this investigation odious among the
people." The committee told how an attempt had been made to
assassinate one of its members. "The first step," it set forth,
"necessary to the success of every scheme of speculation in the
public lands, is to corrupt the land officers, by a secret
understanding between the parties that they are to receive a certain
portion of the profits." [Footnote: U. S. Senate Documents, Second
Session, Twenty-third Congress, Vol. iv, Doc. No. 151: 2.] The
committee continued:

The States of Alabama, Mississippi and Louisiana have been the
principal theatre of speculations and frauds in buying up the public
lands, and dividing the most enormous profits between the members of
the different companies and speculators. The committee refers to the
depositions of numerous respectable witnesses to attest the various
ramifications of these speculations and frauds, and the means by
which they have been carried into effect.... [Footnote: Ibid., 3]