Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1812-04-13


States, sum not exceeding in the whole c!eve
millions of dollars, aud to make the necessary
tract Tor the same, pursuant to the act OF Congress
above rGcited.
.No5v therefore, the undersigned Secretary Of the
Treasury, IA pursuance OF the act of Congress and
the authority from the President OF the United
states above mentioned, doth hereby, on behalf .!
the United States, contract aud engage ia m4racr
following, to wit:
LIST. Books for receiving subscriptions to a loan OF
eleven millions OF dollars for the OF the United
states shall be opened the first day OF May
next
1T Portsmouth, Ncw-Hampshire
at the Union Bank.
III B0St7r, Massachusetts,;
at the State Bank,
Uuion Bank,
Massachusetts Bank
III Pi'ecidencc, Rhode Island
at the Roger Williams Bank.
III Hartford, Connecticut;
at the Bank of Hartford.
1T skc City Of .Ne,y-To,k
at the Manhattan COMPANY,
Mechanics bank.
NJ Philadelphia
at the Bank of PENNSYLVANIA,
Farmers < Mechanics Bank
at BGitiia,re
at the RauI, of Baltimore,
Commercial & Farmers 3ank
III he City If y GSkil.gfcil.
at the Oficc Of The
y! Richmond, Virginia
at the Bank of Virginia.
1T Ctg'les.on South Carolina
at tie State Rark
Planters & Mechanics Bank
which hooks shall continue opca Cor rc,riv m,, sr;,
scr2t.ons during The ordinary hours of transocnr,
business at the said Banks for two dave II morS
than eleven millions OF dollars in the whole shall
DC subscribed, the surplus shall be deducted in pro-
pOruon TO the SUNS subscribed in each place re-
spcctlvey by areducton ofthc snbscriptions eyeec.
ding four Thousand dollars.
= For every hundred doI!a.s which NAV be sub
scrbed there hall be paid, at the time of subscri-
bms, the sum Of twelve doll.-s and Grtv cent? ard
hlse sum oftweive dollars aud fifty cents on the
fifteenth day ofeach OF the ensuing months of June
July, August, September, October, November and
December, one thousand eight hundred aud twelve.
respectively. Each subscriber, ri the time oGnay
ing any OF the above nstaimcnts sfter the first may
pay all OF any number ef the subsequent instaments
ana will be entitled to receive i1tercs. at the rate
oil SIX per centum per annum on the amount thus
pad from the time ofsctua payment.
$. On the failure Of payment of any instaIrcnt
oi t' sums subscribed according 20 the tenor OF the
second article, the next preceding nstalment ut
twelve dollars aud if- cents which shall have been
paid for every hundred dollars subscribed shall be
forfeited to the United States.
q III any subscriptions shall be reduced IN eonse-
quence Of create sum than eleven millions of dol
lars being subscribed, eonformaby to the first art-
Gle, the amount of suol reduction shall DC forthwith
returned to the subscribers from whom such re-
ductlon shall have been made.
.. Each subsequent iOstament must be maid ot
the same Bank at which the original .uhscriDtion
was made, and where the first instalmcnt was paid
D.. For such sums or number of shares OF one
hundred dollars, rs may be subscribed, the Cashiers
oil the respective banks, within twenty DAYS after
the time of subscribing shall give certificates eta.
t.rg the sums subscribed and payment made, and
on which the payments of the subsequent install
mcnts when made shall be respectively endorsed
winch certlleates shall be assignable by endorse
ment and delivery of the parties in whose fayor
they may be issued, until the completion of the
payments required by che tenor of the second aru-
Gle.
z. After the completion of the payments aroro-
said, the propTietors of the certificates of the Cash
lcrs, on which such payments have been completed
on surrendeuug the Same at the Loan Office Of the
state IN which tic subscription aud payments shall
nave been nude, shall be entitled to receive fror,
the Commissioners of Loans, certificates uf funded
capital sloc bearing interest Of six per ceutum
per annum from the time when the said instruments
shall have been paid respectively and PAYABLE quar-
tor yearly. at the several Loan Offices or AZ tho
iScasury Oithe United States where the same may
stand credited which Certificates of funded capit,l
stock shall be issued in sums OF one HUNDRED, four
hundred, one thousand, four thousand or ten thou
sand dollars, at the option OF the proprietor and
shall be transferable by the creditors and their at
tnrluss duly constituted, at the Treasury and Loan
OF, 'es respectively, in the same manner as the
present fu1dcd debt of the Uuited States and in
pursuance Of the rules which have been, or which
may be established relative to the transfer of the
said debt
s. Alter the payment Of the 6fth instalnent
such OF the proprict0rs OF the certificates of the
Cashiers, ofiour hundred dollars and upwards. as
may thcu be DESTROYS OF funding Inc same NAV on
presenting them at the Loan Office Of the stqt, i'm
which the subscription and payments shall have
been made, receive from the Commissioner q!
Loans, certificates Of funded c,pitd stock Of tic
description aforesaid, for tie amount of the four
hIst instruments, or one moicty ottl,c Nprcss-
cd IN tho subscription certificates.
Q. Aucr tic last day Of December in the wear
one thousand eight hundred AID twentv.four, and
after reasonable notice to tie creditors which shall
be gwen by an advertisement in some public news
paper pinted at the seat Of the government Of the
United States, the SAID capital stock shall be redcc
m1blc Il the pleasure OF the Uo.tcd States bv the
reimbursement Of The wlolc sam which NAV al
th', time stand credited to any pc pgic.or ON the
books OF the Treasury OF Of the Loan OEccs re-
apCctivcly.
10 So much OF the funds constituting the annual
.roPuaton OF eight millions OF dollars for the