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The remedy proposed has been a reduction of the prices according to the
length of time the lands have been in market, without reference to any
other circumstances. The certainty that the efflux of time would not
always in such cases, and perhaps not even generally, furnish a true
criterion of value, and the probability that persons residing in the
vicinity, as the period for the reduction of prices approached, would
postpone purchases they would otherwise make, for the purpose of
availing themselves of the lower price, with other considerations of a
similar character, have hitherto been successfully urged to defeat the
graduation upon time.
May not all reasonable desires upon this subject be satisfied without
encountering any of these objections? All will concede the abstract
principle that the price of the public lands should be proportioned to
their relative value, so far as can be accomplished without departing
from the rule heretofore observed requiring fixed prices in cases of
private entries.


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