Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-08-17
Fran he Gaz<it< If t5e Unifea States.
MANAGEMENT or THE SINK
ING FUND.

crerary Gallaein Jays, The proO,lo Of zee
ya/st7ion aaaally eomtempIates tbf easlf
If tie mauty remaining anexpenafd j0r J'a
months after The end IF The ealtnde, year'
10 qOlnb The aunaal approbr,ati0n 'eIe's'
u providts. that uudey eertainfirea1glfan-
e<s, sucb /a,plns@aleeas tos6e at t0e as
poyftiou oftbe e0mmDEoaers. ca sxam'h ns
that provifo, il will be found that the CON
templated cafe may occur, after the re
demption of the whole debt ,iexceptingsshs
old 6lper cent. flock contributed IN 1892
& the three per cent itock. 10 other wofas'
the cafe provided for may occur, alter the
whole Of the foreign debt, and the navy
fix per cent. flock and the temporary 40
meitic loans, and the ieveral fpecies OF itock
bearing intereit at eight per cent. i've and
an halt per cent. & four & 40 halt per cent.
fhall have been finally discharged. ms
may take place in the courie OF the year
1910 if the fun of 1900, 900 De faithfully
applied in each year, TO the exsinguiihment
Of 70 much intcreit and principal. After that
period, the only remaining deb, reimouria-
bic at tho pleafurc ofthc United States,
would be the three per cent. flock and
eighty ,houfand dollars OF fix per cent
'aock coritituted in 1896. The extin-
guifhing annuity OF eight percent. on the
old ix per cent and deferred aocks, toge-
Their with the intereG on the remaining
f4ock, would no, Their amount to 100000
dollars annually and conlequenty there
would remain. Of the annual aPpro-
priation, forplus Of more than 100000
dis. Such n.ight be The relative ilsua'lo@
Of the public DEBT, and the linking .dno.
And it is to this cafe, that the proviio
of The hra fiction has reference. That
every perlon may judge for himfslf, the
proyilo fhall now be recltcd. Is is IN
thefe terms" Provided, That after the
whole of the laid debt, the Old Tx per
cent. flock, the deferred ltock, the feven
teen hundred ard ninety-hx fix per cenf.
fock, and three pes cent. ftock excepted,
hall have been Reimbursed, any balance
OF the fun annually appropriated by this
act which may remain unexpcnded at the
end of fix months next fucceeding the
end of the calendar year TO which tucff an
nual appropriation refers, Ahall be carried
to the iurplus fund, and ceaie TO be veited,
BY virtue of this act, 10 the conml4ionsrs
Of the daking fund, and the appropriation,
70 far as relates 10 fuch unexpcnded ba-
lance. (hall ceafe and determine
Notwithstanding the clumiinefs OF IFS
phlafeology, this frovifo canno'' by any
admlaible rule of contribution, be made to
refer II any other cafe than that which
had been itated. And III fuch cafe 1t
might be not OILY proper, but peculiarly
reoailte, tina, part Of the annual appro
priation fhould be allowed to remain IN
expended: for the only portions OF debt
to which the surplus lof more than $500,
900 dolla.s) could then be applied at
pleafure, would be the three per cent ltock,
and the So,o dollars Of fix per cent
Cock conRituted in 1896. The lalt
might be Immediately redeemed at par.
The three per cent flock might alto Dc
reimburled at the pIealare Of the United
States, on paying the nominal amount OF
the principal. And the creditors could
not be repaired by the government to &C
cept any thing Ieis although, conhdet-
ing the rate of intereR, they may be viii
ling TO fell their flock in market, at thlr-
ty or forty per cent below par. But it
more than three millions OF the three per
cents mutt, at all events, be purchafsd, on
account of the fnking fund, in the courte
Of one year and if this fhauld be perfect
" underaood by the fockholders, they
could evidently command the market, al
the exDcncs of the linking fund. 10 the
cafe contemplated by the provlio, there
fore, the three per cents with the old TX
per cent and deferred flock, may be po'-
cbaEed. in market, for account OF the fink.