Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-08-11

ithat the monies fliould iavjola6!y rtssd'a 10
yeffed until the Reimbursement ihould
be fully efeaed. The Object, was, 70
clothc the fund With the character Of tri
yafe properly holden IL frgf for the fei
petfive Creditors, and thereby 70 Ak its
| deRination unchsngcably." O:herwite 4
might be diyetted by fabfeqaent appro-
pria.ions. For the contract with the
creditors, under the funding act, contain
ed ao.hing which bound the government
to reimburie their debt ia the proportions
and at the fame time, mentioned 10 thu
act Of the Cd Of March 1895. THIS con
liberation befpcal the wisdom, as well as
the Gncerity Of ,hofe who adopted iach
efEcacious provi6ons for guarding againlt
any alienation of the fund. Hence II
was u<ald in a board of commifloners
in fraR IRE 5a5Let aifb 4Oas mSa haltmn
~ PLEDGED for its inviolability- the term
Of the truR were precifrly dehned-ih
application Of the fund according 70 thoie
terms was Internationally enjoined on the
commiflioncrs.
To these provisions, reference was
had, undoubtedly, in framing the act OF
the 2eth Of April, 1902. This is to be
presumed from the nature of the subjeet,
as both aes contain provisions IN relation
to the public debt. 1t is also prAeabl-
with demonstratiye certainty. On the
18th Of December, 1901, Secretary Gala.
tin made report to Congress on the sub
iea of finance, and expressed his belief,
that the sum annually applicable to the
debt might be rorfdeutly t6imattd at
! 100000 dollars. This report was re-
! fered to In an official letter, which he
] addressed to the chairman of the commit
| tee of ways and means on the 3lst OF
| March, 1892. In the letter he speaks
of the necessity of making t0, The debts
ia,endtd to be discharged, as ADEQUATE pro-
| vi;siioa as is made BY The aq 81, sd Mare6,
| l7e5, Joy tbe payment sf The s PER cent
| aaauify On The 6 per cent. and dejtrrsd
stocks, By vestmg in ME eeumlss'ouers q
The aaking find saeb aaaaal sugs as vii
| be equal 10 The froposed redsmff'en, and BY
di,ea5ing the esmmi,si0xers 70 atpzy fbf
same to tie redemption Of NH df6h.--
| Tbs pyouiisi0r, says Secretary Gallatln,
qvH be determmatf in lis amount, simble
in its execution, certain in ttseDfd. Al.
ter which, referring to this report on the
| subject of finance, he ment:ons tbf ann
/ al ,am Of 100000 d0l'ars as Afplieabls
/ 10 Tie puymenf et Jotb PRINCIPAL cad il,
te,<sf If 3abhr atbs. This letter, as ap-
| pears from, printed documents, was annex
ed to the report OF the Committee OF
| Ways and Means, accompanying the bill
aboxf the qvbcke of the pa5Ae debf, which
was presented to the House of Rr2resen-
tatives on the 9Th OF April 1902.
Let us now lcok at the famous act,
which was approved on the 2sth Ct the
same month. Secretary Gallatin says
The Gyf Isaioa Of tie lasu makes an an
mail Appropriation ef 7 100000 do1iars
\ OO tltuSlI Ia INSs ouI sHs'S - SO'i'~.--.
thing more than this III the first section.
1t enaas, T5at 10 maeb Of fbf 6at'es on
mfrekandize and foauage a., with the mo
nies OF the sinking fund therein described,
suiK amount to an ouaauI INN Of /eUes
miAiors three bgudred tboslaud d0llars be
aadtbe /our Is -ytarly np9veayi4tedto TIE
fad faud; and The Eaid lams arr a,sslayea
ia Be y5aea ia fb< eoosmYFsae,s II IRE FINK
ing funa, u be apa!ied BY the Jaid e0mm1-
Fou<ys 10 tbe payment Of iaf<ysf and char
gts, and fotbe Reimbursement or ,edfmp
tion Of fbe principal Of tbf px6if debit
Whether this clause OF the section Is
| drawn with mercantile, jundical, or gram
matcal accuracy, We need not pause TO
inquire. The nsaaai sum of 100000
dollars is y<arJ afpropri4ted to the slak-
| ing fund, and vsfed in the commissioners
| TO be by them appllfd 10 The mte'eR ard
principal Of the debt, including charges.
\ p.fo.n hi, ~ moe ,,,e,ed ~ d0ec not