By the Act of 1800 the minimum price was fixed at $2 an acre, and land not sold at public auction could be bought at private sale at that price.

The Act of 1820 abolished sales on credit and fixed the minimum price at $1.25 per acre, at which rate it has since remained. Lands offered at public sale became known as "offered land," and if not sold at public sale could be obtained at private sale or entry at the minimum price.

The result of this system was that, owing to the great scarcity of money in the country at that time among the masses of the people, large blocks of land were purchased by speculators and held by them indefinitely for an excessive profit, and the masses of the people—the settlers, the real home builders—had to purchase the land from these speculators instead of securing it from the Government. The Government got but scant return for its valuable public land. The chief profit was made by the middlemen, those speculators who bought it up in large blocks; they reaped a rich harvest. But in the midst of this system the settlers pressed on to the frontier. They were without money, but they settled on the public lands, squatted there without authority of law; and finally the Government, to help these settlers, to relieve them and give them a little breathing time, in 1841 passed what was known as the general Preemption Law. Under this law the head of a family, a widow, or a single person over twenty-one years of age who was a citizen or had declared his intention to become a citizen of the United States, could secure 160 acres of public land by settling upon, improving and cultivating it, and by paying for and entering the same within from one to three years after settlement, the time of payment in each case depending on whether the land was offered, unoffered, or unsurveyed. This law (the Preemption Act of 1841) was clearly intended to help the pioneers and the settlers, and it proved of great advantage to them; but owing to the lax procedure that prevailed (under which a man could go on a preemption claim, make a few limited and pro forma improvements, and at the end of six months appear in the land office and prove up and have his final entry made and ultimately get a patent), the Preemption Law itself became a great instrument in the hands of speculators and land grabbers, and in consequence Congress concluded to repeal the law.

The law allowing lands to be secured at private entry was repealed in 1889; the law allowing public sales was repealed in 1891, and the Preemption Law was also repealed the same year. These laws were repealed none too soon, because by that time they had got to be the instruments by which those who were seeking valuable coal lands, timber lands, and other lands would hire a lot of people to go and make preemption claims, and then, as soon as they obtained title, secure the title, whereby thousands and thousands of acres of the most valuable timber and mineral lands, coal lands, and other lands passed into the hands of speculators for little more than a dollar and a quarter an acre, and sometimes even less, for there were various kinds of scrip issued—agricultural college scrip and other scrip to which I will call attention later—put on the market and sold. That scrip would be used instead of money in paying for and entering land; and through it much valuable land passed into the hands of speculators at a cost of even less than one dollar an acre. You who have lived here have all observed that the low price at which the lumbermen secured timber in those early days under the Preemption Law, by cash entry, and under agricultural and other scrip, did not help much to get cheaper lumber. The result was to enable owners of large bodies of pine land to hold them indefinitely for the purpose of securing a higher price for their stumpage.

In 1874 an Act was passed "To encourage the growth of timber on the western prairies." The purpose of this Act was laudable and had it resulted in supplying the prairies with timber the gift of the land would have been amply compensated for. But in its practical operations the law proved a failure. Only a comparatively few of the many claims entered were ever successfully forested, or ever became real timber land. A large share of them were merely taken and held by speculators with no real purpose of complying with the law in respect to the planting, culture, and care of timber. Claimants would secure these claims, enter them under the timber-culture law, make the first entry, and then hold them just as long as they could, waiting until some land-seeker came around, when they would tell him, "I have a timber claim here, and might relinquish it so you can take it as a homestead; how much will you give me for my relinquishment?" And for a time under this law there was a great speculation in the sale of what we call timber relinquishments. No timber was raised. Speculators had held the land for four or five, maybe six, years as a timber claim. Then when a real settler came along, why, for a consideration of one, two, three, four or five hundred dollars, or whatever the settler was able to pay, the holder would relinquish his timber claim to the Government so that the real land-seeker could secure the same under the Homestead Law, or under the Preemption Law, while that was in force.

In 1862 an Act was passed giving to each State 30,000 acres of land for every senator and representative in Congress for the purpose of establishing and maintaining agricultural and mechanical colleges. In States where there was a sufficient quantity of public lands the State was required to select the land from the public lands in the State, but in States where no such lands could be secured land scrip was issued in place of the land. This resulted in placing an enormous amount of land scrip on the market, which was sold by the State in many instances in bulk to speculators at a greatly reduced price, netting the States from fifty to one hundred cents per acre—perhaps the average did not exceed seventy-five cents per acre. The scrip could be used in entering land or in paying for land under the Preemption and Homestead Laws at the rate of $1.25 an acre. So far as the States to which the scrip was issued were concerned the grant was a wasteful one. It would have been much wiser and better for the Government to have appropriated $1.25 per acre in cash to the States instead of giving them the scrip, and reserving the lands which could be entered with the scrip for actual settlers under the Homestead Law. In addition to this college scrip, we have had from time to time various kinds of other scrip, Chippewa half-breed scrip, Sioux half-breed scrip, and Supreme Court scrip, and others that I cannot at this moment recall. Most of this scrip, fortunately, is now about exhausted; very little of it is still afloat and at large. There was also what we called "soldiers' additional" scrip of which there was a great deal; a soldier could take a homestead of 40 or 80 or 120 acres, and if he had no more in his homestead entry, he could take the residue and make up 160 acres anywhere on the public lands of the United States, without residing on the land; and he could dispose of his interest by power of attorney, by which speculators succeeded in getting that. And the records of our soldiers' homes will show how land speculators have been searching among the veterans for this kind of scrip. Why, I got a letter some years ago from a gentleman in Missouri—I can't recall his name—reminding me of the fact that I had had a homestead; and he told me that I was entitled to forty acres more under my right, in addition to the 120 acres, and that he was willing to buy the land of me. He had hunted up the records, and found a man by my name, but unfortunately the homestead and all the rest transpired and existed in Wisconsin.

In 1878 Congress passed the so-called Timber and Stone Act, originally limited to four western States, but by the Act of 1892 extended to all the public-land States. Under this law land unfit for cultivation and chiefly valuable for timber and stone could be secured in tracts of 160 acres for each entry-man at a price of $2.50 per acre. Under the law the purchaser is prohibited from buying the land on speculation or in the interest of any one but himself. On its face this law seems fair, harmless, and just, but in its practical operation it proved the means of a good deal of fraudulent land speculation. In the first instance, valuable agricultural land fit for agriculture was entered under the law on the theory that it was only good for the timber or stone on it. In the next place—and there was where the great iniquity occurred—speculators would hire men and women in different parts of the country to go and enter stone and timber claims, furnishing them money through outside friends, and then as soon as they had secured title get a transfer of the land to themselves by paying a bonus of one or two hundred and in some cases up to five hundred and a thousand dollars. Why, I remember how, in a city not a thousand miles away from Saint Paul, one year some twenty-five or thirty school teachers entered stone and timber claims in the State of Oregon! This law finally proved simply a source of speculation to the men who were trying to secure large bodies of timber; and under it a large share of the valuable timber lands now in private holdings were secured. The law should have been repealed immediately; but while the Senate passed a bill repealing it some five or six years ago, the bill failed to pass in the House of Representatives. Since then the Secretary of the Interior has come to our relief to some extent. The Stone and Timber Act said that this land could be sold at not less than $2.50 an acre; and up to 1908 the Government had always treated that as the price, and never exacted any more. In 1908 the Interior Department adopted the rule of appraising the lands for the timber and stone on them and selling them at the appraised value, and the result of that policy has been to stop speculation in those kinds of lands. A very limited amount of timber and stone lands have been entered since for now it does not pay big lumber operators or land speculators to hire anybody to go and enter these lands because under this rule they have to pay pretty nearly what the land is worth. But while this administrative order has given us some relief, I am clearly of the opinion that the law should be entirely repealed to the end that we can make suitable provision for the disposal of our stone and timber land under more appropriate legislation and at a fairer rate, both to the purchaser and to the Government. (Applause)

In 1862 Congress passed the Homestead Law, with the general provisions of which most of you are familiar. This law makes a gift of 160 acres to each settler and home-builder who will occupy, improve, and cultivate his claim for a period of five years. Of all our public land laws this has, on the whole, been the most beneficent and productive of the best results. Under its provisions hundreds of thousands of poor and industrious men and women have carved out happy homes for themselves and their children, relieved the pressure of labor in our large cities and great industrial centers, and rapidly laid the foundation for and built up great States in the middle and far West. Judged by results, it is doubtful whether the Government ever received a better return for any of its lands than it has received for these lands given as a free gift, under the Homestead Law, to our farmers and settlers. A happy, prosperous, and industrious rural population will ever prove to be the sheet-anchor of our industrial, social and political well-being, and will ever afford a solid foundation for the integrity and perpetuity of American institutions. The Homestead Law, with all its blessings, had one defect which has, to some extent, marred its usefulness. I refer to the privilege of commutation—the privilege of proving up and paying for the land at $1.25 per acre prior to the five-year period for final free entry. Originally and for many years after the law was passed, the privilege of commutation could be exercised after the lapse of six months from date of entry. This period was extended to fourteen months some years ago and this fourteen months' period is still the law. The vice of allowing a homestead entry to be commuted as stated, consists in opening the door to the speculator, who, in the space of fourteen months can secure title to the land on scant and temporary improvements and then move away and hold the land for merely speculative purposes, leaving the surrounding settlers to enhance the value of his land by their continuing and permanent improvements. When they have erected dwellings, barns, school houses, and churches, and have laid out roads and organized school districts, the petty speculator and commutator, who has done nothing to build up the country, stands ready to sell his land at a greatly enhanced price to an actual home-builder and settler. The commutation privilege should not have been included in the law, and should be repealed, in my opinion, as soon as practicable. None but permanent and bona fide settlers should be permitted to secure land under the Homestead Law.

In 1872 Congress enacted a law for the location, purchase, and entry of land containing gold, silver, copper, and other precious metals, commonly called the mining law of the United States, which became a part of the Revised Statutes. Mining claims are of two classes: (1) lode or quartz claims, and (2) placer claims. Both are initiated by discovery, staking out on the ground, and filing notice of location. After these preliminary steps have been taken, claims can be held indefinitely without purchase as long as $100 worth of work is done each year on each claim; and as a matter of fact, only a small proportion of mining claims, especially placer claims, are ever purchased from the Government. Placer claims are soon worked out and exhausted, while good lode claims are workable and profitable for many years. There is a difference in the size and in the price of lode and placer claims. Placer claims are larger in area and can be purchased at $2.50 per acre, while lode claims cost $5 an acre.