Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-04-12

s;;ea T. - ''.I'ss IS Fo' oaIy a,t,,
c''.' e : ron The iord IN "a, p;a s.'egeiher
70 eentldefsd by The ccnrit II,n.o', lpt il
,sIo.'' as will te feen % pas IS !" ,fei'
report. i will likewile b,t rss s. Of tie
i'me page. ard On Pages - :, 'esn III.
,sIo'' Of The iects's5y Of The sa ,,s5' Of tie
pee'Hher laf, 'hs' he bal, | G S'sss'y Of
fold under pre,erce Of a law ~ = mares Ma were
l7so' ard thar 'heprceeeds Of , y. 3lf'
ag'ee4shly TO the prosIGons Of ,. ,ae l''c,
were apEl'ed toray debt due 10 1 ,ha 'T,
INN IN Ire lame year. So hat The lale If S'' a
bank thaEes, AID the arplics,;,n u " he
money has noIA'rg 10 dc, either viii; i, ' Z
law :, OF The lalt isilloo ior he rsdsr n NE
OF the debt, or the fund Of do lI" P'Ioa
millions three hundred thouisrd, 3D. r 'iis'
was received BY the ccmmificreIs r "rd,a
thar law, as already oblerved ~. 0s01
TIE commiaoners have not prelepd. la, ,ps'
any iuch connection exits they hsv, 's 40
knowledged that they received tho ', sac &C.
100000 as diGira fund; ard I. "a.
why they have not applied it within a.. +'
year as the la" frequires, to. the payns IN,
Of the public debt "''H
The claim that the renittances ~,
land, to meet the inaaInents Of ,ba I =.
reign debt, falling due in 1903, are - i.
conldeied as payments OF deb, in So, !,
equally extraordinary. The law NJ =.
laR fefion declares, that /" it lball h. Il.
duty Of The commtlioners, to csute 10 !.
applied and paid yearly ard every wear,
this fund CT dolls. 100000 of the atbt'
The ccmmiliioners in their report declar.
that they have received tie fund for r..
year 1902, and their advocates on the
aoor fay, that they have applied thelund
to the payment OF The debt. yearly ard IN
the year 1902, becaule they lave n4d.
Provifon for paying a debt which tall.
due in 1903. Or in other words. the
cemmiGionefs have drawn The money from
the treafury, and now keep it in the
hands OF their agents, or in their own DOC.
kets, and honealy intend ,o apply it to
the pa, ment OF the pubic debt at iome
future period, and this has beer payment
ard application Of the money to the debt
in the year 1901.
This faid, Mr.. Grifwold is a mere eva.
hon Of the law, and it is ablurd to ex.
Petf that foch expotions, will go dows
either in this houie or in tie Country
The law fad Mr.. Grifwold, cannot &c
miRaken, ard did rot believe that il
would be miffepreiented. The objsa
OF the law was, TO fecure with certainty
the application of this tood Of dollars
ieyen million three hundred thoulard IL
each year TO tie debt and the law is 10
exprehed as TO define with perfect certain.
ty the duty of the Commiiiioners. Now
if ii is good execution Of this law, to
provide only for the payment of debts
IN future years, your law is only made foi
the benefit of the s0ing ohicer Of tbe
board of commiliioners for il apr9vdloH
TO meet payment in the next year is TO be
confidered as payment in tie Pfeieof
year, provifon TO meeta payment iai-
ling due ten years hence, en- TIE tame
principle, is good payment, within The
year, and the only effect of the law is, 10
place millions of the public money W.
der the controul ofthe commiAoneD OF me
fioking fund without irteref, who when
called upon TO know whether they have
applied i, to she deb, within he year have
only to anfwer, that the money has been
we'll applied, for that il remains IN 'hef
hands or in the lands of their t!iends 10
be delivered ten years hence, to the To9li'
creditors, Whole demands viii then &C.
come due.
But gentlemen have aid that the s2'
p'ication ofths dollars 1900, 600 w''ni0
the year was impodible, beo-u!e lie '''
mittncss to Holland muf be MADE 10 ao-
vance, and the commiilioncrs were su-
thorized to draw annually from TIE ffe4'u,