A Bill

To provide for the graduation of the price of the public lands

Section. 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That from and after the first day of July 1849, the price of the public lands belonging to the United states shall be gradually reduced, as is herein prescribed—That is to say, all lands that have been offered for sale for five years or more, next preceeding the said first day of July 1849, at the minimum of one Dollar and twenty-five cents per acre and not sold, shall thereafter for the term of five years, be offered for one Dollar per acre, and all lands thus offered and not sold within five years, shall thereafter be offered at seventy-five cents per acre, and there shall be a farther reduction of twenty five cents per acre, at the expiration of each succeeding five years, until the price is reduced to twenty five cents per acre, and all lands not sold within the five years next succeeding the day on which the price is reduced to twenty five cents per acre, shall be relinquished to the states within which they lie, respectively, for purposes of Education.

Section II. And be it further enacted, That all the public lands which may hereafter be brought into market and offered at the minimum of one Dollar and twenty five cents per acre and not sold, shall be reduced in price twenty five cents per acre at the end of each period of five years, [reconing?] from the day when they are, first offered, and such as are not sold within five years after the price is reduced to twenty five cents per acre, shall be relinquished to the states within which they lie respectively for purposes of Education.

Section III And be it further enacted, That no fee or reward shall be exacted, or received from any pupil for attending or school, supported in whole or in part by the lands thus relinquished to the states, and the states may dispose of the lands as their respective Legislatures may direct, but for no other than purposes of Education.