Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1807-06-10
Itl Ntt,

In Nrt,
SUPPLEMENTARY to the act intituled w.9n
act making PROVISION for Me redemtti-
on ofthe 7ohoie ofthe Public debt Qfthe
United States"
WHEREAS it is desirable to adapt the
nature of the provision for the redempti-
on of the public debt to the present cir
cumstances of the United States, which
can only be done by voluntary subscrip-
ton on the part of the creditors.
Sec. l. BE IL enacted by the Senate and
House Of Representatives. of the United
States of.Hmerfca, in Congress assembled,
That subscription to the full amount of
the old six per cent. deferred and three
per cent stocks be, and the same is hereby
proposed; for which purpose books shall
be opened at the treasury OF the United
States, and by the several commissioners
OF loans, on the first day of Julv next, to
continue open until the seventeenth day of
March next following, inclisivelv, the
fourteen last days OF each quarter, excep-
ted, for such parts of the above mentioned
descriptions of stock as shall, IN the day
of subscription, stand on the books of the
treasury, and OF the several ommiSSioners
OF loans, respectively, which subscription
shall be eff cted By transfer 70 the Uni
ted States, in the manner provided by law
for such transfers, ofthc credit or credits,
standing on the said books, and by sur
render of the certificates of the stock SUD
scribed.
Sec. 3 ind be IL further enacted. That
tor the Whole or any part of any sum which
shall thus be subscribed, in old six per
cent. or deferred stock, credits shall be en-
tered to the respective subscribers, and
the subscriber or subscribers shall be en-
titled to certificate, or certificates, pur-
porting that the United States owe TO the
holder or holders thereof, his, her, or their
assigns. sum to be expressed therein, e.
quail to the amount of principal of the stock
thus subscribed, which shall remain unre-
deemed on the day of such subscription,
bearing an interest of six per centum, per
annum, payable quarter-yearly, from the
first day of the quarter, during which such
subscription shall have been made, trans
terable in the same manner as is provided
by law for the transfers of the stock sub
scrlbed, and subject to redemption at the
pleasure of the United States Provided,
That no single certificate shall be issued
tor an amount greater than ten thousand
dollars: ind hroV1ded further, That no
reimbursement shall be made except for
the whole amount of any such new certih-
cafe, nor till after at least six months pre-
vious public notice of such intended reim-
bursement.
Sec. g. .AHd be it/urther enactcd, That
for the whole or any part Of any sum Which
shall thus be subscribed NJ three per cent.
stock, credits shall likewlss he entered TO
the respective subscribers and the sub
scriber, or subscribers, shall b- entitled to
a certificate, purporting that thc United
States owe to the holder or holders there
of, his, her, or their assigns, sum to be
expressed therein, equal to sixty-hve per
cenium OF the amount Of principal OF tie
stock thus subscribed, bearing an interest
OF six per centum, per annum, payable
quarter-yearly, from the first day of the
anarfer. during which st1ch st1hec rirntinrn