Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1812-04-30

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AZ Portsmouth, New-Hampslire
at the Union Bank
lit Boston, Massachusetts;
at the State Bank,
Union Bank,
Massachusetts Bank.
1T Precedence, Rhode-Island;
at the Roger Williams Bank.
At Hartford, Connecticut;
at the Bank of Hartford
ut the City Of .New-York;
at the Manhattan Company.
Mechanics Bank.
at PHILADELPHIA
at the Bank of PENNSYLVANIA
Farmers & Mechanics Bank,
at the Bank of Baltimore,
Commercial & Farmers Bank
1t the City ofWashington
at the Office of the
q, Bank of Columbia.
at the Bank Of Virginia.
1t Charleston, South Carolina
at the State Bank,
Planters s. Mechanics Bank
which books shall continue open for receiving sr1,
scriptons during the ordinary hours OF transactin,
business at the said Banks for two DAYS. If more
than eleven millions of dollars in the whole shall
be subscribed, the surplus shall be deducted in pro-
portion to the sums subscribed in each place re-
spectlveiy, by reduction fthe subscriptions excee-
ding four Thousand dollars.
@ For every hundred dollars which NAV he sub.
scrbed, there shall be paid, the time of subscri-
bins, the sum of twelve dollars and fifty cents md
like sum oftwelve dollars and fifty cents nm The
fifteenth day of each of the ensuing months of June
July, August, September, October, November and
december, one thousand eight hundred and twelve
respectively Each subscriber, AZ the time olDay.
ing any of the ACCOMPLISHMENTS after the first nav
pay all or any number of the subsequent Instruments
aud will be entitled TO receive interest at Tie rate
oil sax per centum per annum on The amount t.lus
paid iron, the time ofactual payment
g. On the failure of payment of any iustslnlent
OF the sums subscribed according the tenor OF the
second article, the next preceding instalelent of
twelve dollars and fifty cents winch shall have been
paid for every hundred dollars Subscribed shan he
forfeited to the United State.
4. IL any subscriptions shall be reduced in conse-
quence of greater than eleven millions OF Jol
lars being subscribed, conformaby the first ati.
Gle the amount of such reduction shall be forthwith
returned to the subscribers from whom such re-
duction shall have been made.
s. Each subsequent instalment must be paid at
the same Bank at which the original subscription
was made, and where the first instalment was paid
q. For such sums number of shares of one
hundred dollars, may be subscribed the Cashiers
of the respective Banks, within twenty days after
the time OF subscribing, shall give certificates ia
ting the sums subscribed and payment made and
|. on which the payments of the subsequent install
ments when made shall be respectively endorsed
which certificates shall be assignable by endorse
ment ana delivery OF the parties in whose favor
payments required by tie tenor of the second arti
z. After the completion of the payments afor.,
said, the proprietors of the certificates Of the CASH
lers, on which such payments have been completed
on surrendering the same at the Loan Office of the
state in which the subscription and payments shalt
have been made, shall be entitled 10 receive from,
the Commissioners OF Loans, certificates of funded
capital stock, bearing interest of six per centun
per annum from the time when the said instruments
shall have been paid respectively, aud PAYABLE quar-
ter yearly, at the several Loan Offices or at thu.
Treasury OF the United States where the same NAV
stand credited which Certificates of funded capital
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 aud their at
tornies duly constituted, at the Treasury and Loan
Offices respectively, in the same manner as the
present funded debt of the United States and in
pursuance OF the rules which have been, or whicI,
may be established relative 10 the transfer of tile
said debt.
8. After the payment Of the fifth instaIment.
such of the proprietors Of the certificates of the
Cashiers, Of four hundred dollars aud upwards. ne
may then be DESTROYS Of funding the same may nm
presenting them at the Loan Office Of the state in
which the subscription and pay ments shall have
been made, receive from the Commissioner ~
Loans, certificates offundcd capital stock of the
description aforesaid, for the amount Of the four
first instalmcnts, moiety ofthe sum exprcss
cd in the subscription certificates.
9. After the last day OF December in the wear
one thousand eight hundred and twenty.four, gnd
after reasonable notice to the creditors which SHAH
be given by an advertisement in some pablo news
paper printed at the seat OF the government of tho
United States, the said capital stock shall be redee
mable 1T the pleasure of the United States nv the
reimbursement Of the whole which msy at
that time stand credited to any proprietor on the
books Of the Treasury or Of tic Loan Offices re-
spectiveIy.
TO- 30 much OF the funds constituting the annual
appropriation Of eight millions Of dollars for the
payment Of the principal and interest Of the public
debt OF the United States, may be necessary for
tic regular payment of the interest ..d for tie re-
imbursemcnt Of the principal Of the stock to be
created under this contract, together with the faith
Of the United Ststtsfor tslue fnilment, are here
by pledged in pursuance OF aud according TO, the
terms and conditions Of The Act Of Cong ess herein
before reeitet.
Given under my hand and the seal ofthe Tre,
sury OF the United States It Washington.
SEAL this thirty ifst day Of March, QUO thousand
eight hundred and twelve
ALBERT GALLATIN,
S-erefary cfhe 1reaanr,t
HV'" (4tw.