The British Press; or, Morning Literary Advertiser.
London, England, 1824-02-03 00:00:00

the hands of individuals. and *Wend to be inactive in the vaults
of the Denies. On the other hand, the high rate of interest of the
Drat &mown of debt which become* redeeinable on the Ist of Ja.
Dusty, IIUS. renders it inexpedient for the Government to apply
to other objeene any portion of the means which it may possess of
puking so a•iyantageous a reimbursement. It is believed, how.
ever, the' every inconvenience may be obviated, if authority be
given for th • purchase of the seven per cent. stock, amounting to
0111,000, 0•11ing the sear 1821, at such rates as may be consistent
eirh the putdic interest. As it i. how certain that the Government
mtipp poesse oe•ple means to redeem that stock on the Ist of Ja.
coop, 1825. it 14 presumed that the holden will be willing to dim.
pose of it, clewing the interval, at a lair price; and as a gradual
conversion of it into money, at such times, and in such portion.,
as would be ni.:st favourable to its investment, would be must ad-
tsetagemis or the monied transactions of the community, it is pee
mimed that is could be most acceptable to the holders.
It is therefore respectfully proposed, that the Commissioners of
the Sinking Fund be authorized to purchase the seven per cent.
stuck during the ensuing year, at the following rates above the
so tt purthused
I. For all stock purchased before the Ist of April next, at a rate
eat ezeeedi; g one dollar 25 cents on every 11)0 dollars, in addition
to the inter: et due on such stock on that eisy.
?.. For all stork purchased between the Ist of April and the let
a July rest, eta rate not exceeding 75 cents on every 100 dollars,
in addition to the interest due at the last mentioned day.
3 Fur all stock purchased between the Ist of July and the Ist
of October hest, at • rate not exceeding, on every lOU dollar., the
amain of-interest which would have accrued on the last mentioned
&BY-
4. Fell stink purchased between the Ist of October, 1824, and
the list of annoy, 1821, the principal and interest due on the day
• 14;11=ing to the consideration of Congress this application of
the surplus means of the years 11113 and 11e4, the probable de-
mands upon the Government, in presiding for the awards of the
Cominiasionere, under the treaty with Spain of the 22.1 of February
1519, have not been overlooked. It is believed. however, that
fund. may he advantageously runplied for the discharge of those
claims, by the issue and ado, at not less than par, of 5 per cert. ,
sock, redeemsble in 1832; ar.d it is respectfully proposed that!
authority be :iron for that purpose.
Of the 10.331,000 of six per cent. stork, redeemable in 1825,
about 5,000,000 will probably be redeemed in that year; and there
will remain unredeemed, after the application of all the means at ,
the diamwal of the Commissieners of the Sinking Fund, about
5.331,000. This sum, it le believed, may be readily exchanged I
for tire per een:. stock, redeemable in 1833, and it is respectfully
,ccested that peovieinne be made by law, for such an etch urge
of so much of the sic per,cont. stock as shall not be redeemed during
the year 1826.
The views which are herein presented are founded upon the idea
that oo extmadinary expenditure he to be incurred. If, however,
it be deemed advisable to give Mereaseel extension or activity to
the nary, or to aid in objects of internal improvement, it is be-
lieved that such additions means as may be required may be ob.
tained by * judicious revision of the tariff. Such a measure was
recommended in the last annual Tin, with a view both to the
haven of the revenue and the rim dietitian of its collection ; and
further reflection and experiencehave tended to strengthen the
opinion then entertained, that it's opera:ion, without being
onerous to the community, would be advantageous to the revenue,
salutary to commerce, and beneficial to the manufactures of the
country.
All which is respectfully submitted.
WIWI. 11. CRAWFORD.
Treasury Department, Dec 31, lika.