Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-08-20


les towards the final redemption.
Ii fpeaking Of pecuniary tranlaaioas,
the word towards is correctly ufed with
reference to payments in part. Whens
perfon, indebted to merchant on bond
and on book account makes a payfn' Mt
in part Of what he owes, and the fun is
applied either TO the bond or to fine ac-
count at the option of the debtor, tie
money in this cafe, is applied towards
the final difcharge Of the whole debt
This phrafsology is coDformah!e to me
eitab!ifhed ulagc among men of butineis
and information, who have been educated
in the country. Numerous examples 10
the like effect have been found in the ap-
preparation laws Of the United States
tits efficient to mention two. BY an
act of the z3d ofFebruary 1909. cnsi'-
led an aet making certain partial appro.
priations for theyear 1902, the fun OF
Gxry thouEand dollars was appropriated
towards deiraying the expsnfes OF the pay
Of the army. Another example is in che
act Of the I'd of April, 1907, entitled An
Act making partial appropriation tor the
fupport of Government during the year
one 1 thoufand eight hundred and two
1t appropriates the fun of 100, 900 dol
lars towards defraying the expenditure
Of The civil lift. In each Of thoie cafes,
il NUT have been well known, that the
fun appropriated was but in part of the
amount which was finally to be paid AID
the phraleology is adopted to convey that
idea with preciiion. Who indeed. will
pretend, that the FUN of 1000 900 dol
lars could now be applied to the final re-
demption OF an exiting debt of more than
&c. 3oo,o dollars 1t can be applied
only towards fuch redemption. The IN
reref and inhalments, as they fall due at
various periods within the callender year,
are to be frif discharged out of the annual
appropriation of 1900, 900 dollars; and
then a further portion of debt mutt be
extinguifhed bypaynent or puFchale. In
this manner the appropriated monies are
to be applied. Each application is an
ex,inguilhment of portion either of in
tcrca or principal. Without fuch ex-
tinguilhment, there is no Application in
fact. And an publication in fact is the
only mode of fatisfyiug the public credi-
tors, however an application in theory
may be admired by the manager Ct the
linking fund.
Enough, it is presumed, if not much
more than enough, has now been said,
respecting the construction of the words
applied, towards the further and final re-
demption of the debt. In apo o,y for say
ing so much, let it be considered, that Sc
cretary Gallatin appears to place his main
reliance on the particular phraseology of
the third section. Take his argument in
his own words, and mark how he remem-
bers to omit some of the significant parts
of the clause, while there is an atfeaasion
of reasoning on the whole. He expresses
himself in this manner" The words
by-payment or purchase" are, according
to the strict sense Of the sentence, con-
neGfed with the word, t" redemption )"
the further and final redemption is to be
effected by payment or purchase /; the ap-
plicatIon Of monies which the commission.
ers may legally efett, is towards the far
ther redemption: the subtlety of the OBJ
jection seems to consist IN making the
words by payment" depend immediate
ly on the words "to cause to be applied"
from which 1t would result, that The ap-
plication, instead ofbeng, as expressed BY
the law, towards redemption, which re- |
demptlon must, when effected, be effected
by paymeto purchase, would be confined
to an immediate payment; and as the |
purchase ofbllls is not an immediate pay
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