ClRCU H.

TO RECEIVERS OF PUBLIC MONEY, AND


TO THE DEPOSITE BANKS.
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Treasury Department, July II, 1886.


In consequence Ofcomplaiuts which have
been made of frauds, speculatioHs and mon
Opolies, in the purchase Of the public lands,
and the aid which is said to be given TO ef-
feet these objects by excessive bank cred
its, and dangerous, if not partial, facilities
through bank drafts and Bank dePosites,
and the general evil influence likely 10 re-
suit to the public interests, and especially
the safety of the great amount of money
in the Treasury, and the sound condition
of the currency of the country from the
further exchange of the national domain in
this manner, and chiefly for bank credits
and paper money, the President of the
United States has given directions, aud you
are hereby instructed, after the 18th day of
August next, to receive in payment of the
public lands nothing except what is directed
by the existing laws, viz; gold and silver,
and in the proper cases, Virginia land scripi
provided, that till the 18th of December
next, the same Indulgence heretofore extend
ed as to the kind of money received, may
be continued for any quantity of land not
exceeding three hundred and twenty acres
to each purchaser who is an actual settler,
or bona fde resident in the State where the
sales are made.


In order to insure the faithful execution
of these Instructions, all Receivers are
strictly prohibited from accepting for land
sold, any draft, certificate, or other evidence
of money, or deposito, though for specie,
unless signed by the Treasurer of the Uni
ted States, in conformity to the act of April
25, 1920. And each of those officers is
required to annex to his monthly returns
to this Department, the amount of gold and
of silver respectively, as well as the bills
received under the foregoing acceptlon, and
each deposite bank is required to annex
to everJ certificate given upon deposite
of money, the proportions of it actually
paid in gold, in silver and in bank notes.
former instructions on these subjects, eX-
cept as now modified, will be considered as
remaining in full force.


The principal objects of the President
in adopting this measure being to repress
alleged frauds, and to withhold any counte-
nance or facilities in the power of the Gov
ernment from the monopoly of the public
lands in the hands of the spectators and
capitalists, to the injury of the actual set
tiers IN the new States, and of emigrants in
search of new homes, as well as to dscour-
age the ruinous extension of bank issues
and bank credits, by which those results
are generally supposed to be promoted,
your utmost vigilance is required, and re-
lied on, to carry this order into complete
execution.