CIRCULAR.

To Reeeipers Qf Public Money, and to ute Deposite

 BankS.
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 TREASURY DEPARTMENT, July II, 1886. In consequence of complaints which have been made oi frauds, speculation, and monopoes Ill the purchase of the public lands, and the aid which is said be gy to effect these. objects by excessive bank credits, and dangerous if not partial, facilities through bank drafts and bank deposits, and inc general evil influence likely to result to the public interests aud especially the safety of the great amount of money in the Treasury, and the sound condition ofhs 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 fthe United States has given directions and you hereby nstructed 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 scrip; provided, that till the 18th of December next the same ndulgences heretofore extended as to the kind of money received, may be continued for any quantity of land not exceeding three hundred and wcn ty acres each purchaser who is ah actual settler bond ds resident in the State where the sales arc made.

 In order 10 ensure the faithful execution of these in- stucons, all Receivers strictly prohibited from ac- ceptng for land sold, any draft, certificate other evIdencc oI money, deposc, TnoUgH HTl- less sigaad by the Treasurer of the United staies n conformity 10 the act of April 24, 1920. And each o those officers required e annex 10 his monthly returns to this Departments the amount of gold and silver res- pecvely as well as the bills received under the fore going exception and each depose bank required to annex fo eyey certificate given upon deposte of mo- ney, the proportions of actually paid n gold and s yer, and in bank notes. All former instructions on these subjects, except modified, will be cons- dered as remaining III full force.

 The principal objects of the President III adopting this measure being to rcpress alledgcd frauds and to withhold any facilities in the power of the Government from the monopoly of the public lands in the hands of spectators and capitalists 10 the n jury of the actual settlers in the States and o emigrants in search of homes. as well to dls courage thc rnos extension of bank issues and bank credits, by which those rules generally supposed 10 be promoted, your utmost vigilance required and relied on 10 carry this order into complete execution

 LEVI WOODBURY.

 Secretary ef the TreasHry.