Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1803-04-05
CONGRESS
OF The UNITED STATES.
HOUSE, OF REPRESENTATIVES,.
-Moada, M4yeb.l.
REPORT.
MG,cb.I.
CoNCLupED.

ers is thar they are bound by the law 10
apply annually 100000 dollars ard
that that application NUT in tie very
year in whichit IS made, extinguih dtbt
or pay an intereref due that year, eAclud-
ing from what is thus conildefed as le-
gal payment, any payment on account OF
a debt falling due after that year. Mel
Their Of th.fe PROSECUTIONS appears 70 me 20
be in any degree fuaporisd by any part OF
the law.
The hrlt fiction of the law makes an
annual appropriation Of 1900 COO dol
lars.
The fecend fiction ehjoins it as pof"-
tive duty on the fccrctary ofthe treaiury,
10 caufe TO be paid annually, 10 the com
milioners of the linking fund the faid fun
of ?, goo, 600 dollars, thus appropriated.
The third fiction directs Tie comnli6ion-
ers to pay every year the irterea accru-
ing, and The inRslmenrs or parts Of pin
cipsl falling due during thar year; and
then proceeds in the following words:
{" And ALTO, il iaalIbe the duty OF the
iaid commifiicners TO cauieto be applied,
the furplus ofiach funds as may at any
time exia, after fatisiy;ng the puFPoies
aiorefaid, towards the further and finalrc-
denption by payment or rurehais, OF
the prelent debt Of che United Safes" sc.
There is nothing there which binds
the commifiioners, after they have fatis-
fed the purpofes aforeiaid, thar IS TO FAY
after they have paid The intersa ard piin-
cipal falling due in any enc year, TO apply
the remainder or furplus of the 7, aoo,cc
dolls. if any, during he copIie OF the fame
year.
Provided, that the fec7e;ary lad placed a
their difpoG,ion'indue time, the funds necei
fairy 10 meet the indictments and intereG
due in the year, it would bes good exc.
eution of the Law if he paid to them the
remainder of lhe appropriation on the lsit
day Of the year; in which cafe II would
be imPofible for them to arpy that re-
mainder till the eniuirg year.
That aa, in faa, as well as all the
preceding laws on thar fubjea, places
Discretionary power in the ecnmit1crsis,
bosh as to time ard manner, for any pay 4
reat other than ,hofe which fall due in
RE gear, and which muR at all events
be made ard the pEosao OF the hFit
iestiou actually contcnplates tic cafe OF
the money remsining unexpended Ter fix
months after the end Of the calender year,
TO viii b the annual appropriations refers,
sne provides, that under certain oircrm-
aapcrs fush fsrplus lhall ceafe to be at
the difpoiition of the commlAioHers.
In the prefeat infance. however it is
on she rart ofthe fecretary of the treasu-
~ contended, that more than 1900, 900
dollars have, exclpGyely Of the payment
TO the bank, been applied during the
year 1902, towards the furthes redemp-
ton by payment,ot the debt Of the Unit
ed States and thar, after having paid the
iaesei& in6alments Hhich fell cue tu1ing
that year, the puichafe of about three
railhans and half OF guilders remisted TO
Holland towards tie payment of the
Dutch debt falling due next year. was
faith III, leg al and proper execution of the
law.
1t is difficult TO prove a negative ; in
this cafe the law is Glent as 10 the fpecies |
of debt, ard the time or manner OF apply
;ng the furplus monies, there is nothing
which excludes from the meaning of the
law an application in the year, which VII
produce payment in the enfuing year.
TIE words by payment or pnrchafe, are
According TO the itliti fanie OF the fentence
,rnue6ted with the wsrd redemption :
s.e father and final redemption is to be
efeded by payment Of purchafe the ap-
plication of monies which ahe commit
oners may legally effeef, is towards tina!
fnther redemption the fubtle,y Of the
OBJECTION Teens TO conGlf in making the