Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1807-06-17

cent. stock subscribed by them, respec-
lively, which shall be payable OH that day,
from which the interest on the new certi-
hcates shall commence. And it Shall be the
DUTY OF the said agents, respectively, to
transmit, before the end of each quarter, to
the register of the treasury, and to the Sc
Veral commissioners Of loans, reSpcctivCiv,
tripicate abstracts OF the certificates OF
stocks subscribed, and OF the new certifi-
Gates issued by them, during such quarter,
in order that the proper credits may be en-
tered on the books of the treasury, and
of the commissioners Of loans, as the case
may be, TO the holders OF such new certif-
Gates. And the said agents, before they
enter upon the execution of their several
ofIlces, shall, respectively, take an oath or
animation for the diligent and faithful ex-
ecut'on OF their trust, and shall also be-
CONC oound with one or more surcties to
the satisfaction Of the commissioners ofthe
sinking fund, or Of the secretary of the
treasury, III the penal sum of twenty
thousand dollars, with condition for their
good behavior III their SAID Offices.
Sec. 5. Ind be1ttttr:her enacted, That
the holders of Old six per cent. deferred,
or three per cent. stock, who may become
subscribers, as aforesaid, either in the u
nited States, or III Europe, and who, on the
of the subscription, shall be resident in
Europe, may, at their option, which must
be made ut the time of subscribing, receive
the interest accru;ng on the stock created
| by virtue Of the preceding sections Of this
act, either in the United States, as other
creditors, CT at London, OF Amsterdam:
that IS to say, the stockholders residing,
at the times aforementioned, in the dorni-
! Mons OF Great Britain in Europe, at Lon
don, and at the rate of four shiilings and
! six pence sterling, for each dollar; and
the stnck-h oldeUs residing, at the times ~
aforementioned, in anv other part of Eu-
rope, at Amsterdam, and at the rate OF
two guiiders and a half guildcr. current
money OF Holland. for each dollar: in
which last mentioned option the condition
shall be expressed in the new cert ticates
! to be issued, auC the credit or credits, to
| be given 10 the proprietors thereof, shall
be entered, and sh all thereafter be trans
ferabie only on the books OF the treasury {:
! Provided hozoeUsr, That the interest thus
| payable in London aud amsterdam, shall
not be payable until the expiration Of six
calendar months from the day on which the
same wcC.a be payable IN the United
States, and shall be subject 10 4 deducti-
on OF one half OF one per cent. on the a.
mount payable, for cAmm's sion TO the bank
ers paying thc same: ind Provided also,
/ That every proprietor Lf such stock may,
OH surrcadcr:ng his certificate, receive a.
mother 20 the same amount, the interest
whereof shat be payable quarter-yearly
in the United States, in the same manner
rs that accruing on the stock held by per-
! sens residing ia the United States.
Sec g Ind be IL further enacted, That
the same funds winch heretofore have
been, and now are, pledged, by law. for
the payment of the interest, and for the
| redemption or reimbursement of tho stock
which may he subscribed by virtue Of
the provisions of this act, shall remain
pledged for the payment of interest accru-
ing or the stock created by reason of such
subscription, and for the redemption or re-
endorsement OF the principal Of the same.
1t shall be the duty of the commissioners
Of the sinking fund To cause to be applied,
and paid out of the said furd, yearly, and
every year, such sum, and sums, az may
be annually wanted to dischage the anuu-
al interest and charges accruing on the
stock which may be created by virtue Of
this act. The said commissioners arc
thereby authorized TO apply, from time to
time, such sum aud suns cut the said fund,
as they may think proper, towards re-
deeming, by purchase, OF by reimburse.
hthtJ w conformity with inc prov iSion5 OF
this act, the principal OF the said stock.
And the annual sum of eight millions of
dollars, vested by law in the said commits
sioners, shall be, and continue appropria-
ted to the payment ofinterest and redcmp-
ton of tho public debt, until the whole of
the stock which may be created by the
preceding sections OF this act, shall have
}been redeemed, or reimbursed
Sec. Z. .97ld be U/urther eRacted, That
there shall be allowed to each of the ~
gents to be appointed by virtue of this act,
in addition 70 the necessary expenses in
Cured by them, Tor printing, stationary,
aud postage, a sum OF three thousand dol
lars, as full compensation for their SER
vices. The said agents, and the commits
sioners Of loans, shall also be allowed such
additional SUN as may be actually and ne
Iccssarily expended for the clerk hire re-
lquisite for carrying this act into effect.
And for defraying the said compensations
and allowances, ard sucn other contingent
charges as NAV be incurred for carrying
this act into effect, a sum not exceeding
sixteen thousand dollars, to be paid out OF
any monies in the treasury, NOT otherwise
appropriated, isherCby appropriated.
Sec. 8. ind be II FURTHER enacted, That
whensccvcr notice Of reimbursement shall
be given, as prescribed by the second and
third sections Of thio act, the certificates
intended TO be reimbursed, shall be desig-
mated therein. In every reimbursement