The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1813-12-03
10y AUTHORITY I
AN ACT

ing seven millions five hundred thou
sand dolIavs.
BEit enacted By the Senate and House of
Representatives. fthr Entfed Statesy .ime-
RIGA ia Congress assembled, That the pre-.
sident Of the United States be, and he is
herSby authorissd TO borrow, OH the credit
OF the United States, sum not exceeding
seven millions FIVE hundred thousand dol
lars, to be applied in addition to the mo-
MES now in the treasury, or which may be
received from other sources, to decay an,
expenses which have been or which may
be authorised for the service Of the years
one thousand eight bundled * thirteen, and
one thousand eight hundred and fourteen,
and Tor which appropriations have been or
may be made by law during those years
ProO1ded, That no engagement OF coil
tract shall be entered into which Shall pre-.
clude the United States FROM reimbursing
any sum or sums thus borrowed, at any
time after the expiration of twelve years,
from the FIRST day Of Jan. ncXt.
Sec. ?. IND be il further enacted, 'rhut
the secretary of the treasury, with the APP
probation of the president of the United
States be, and he is hereby authorised 10
cause to be constituted certificates Of stock,
signed by the register of the treasury, or
be borrowed by this act, or for any part
thereof, and the same TO be sold: Provid~d,
That no such certificate shall be sold ut
rate less than eighty eight per centum, or
lightweight dollars in money for one hun
bred dollars In stock. And the secretary
of the treasury shall cause 10 be laid be-
fore congress, on the first Monday in Fee
bruary, one thousand eight hundred and
Z NJ S- II, or "A &c
may. be in session, ain account OF all tins mo-
nies obtained by the sale of the certificates
of stock in manaer aforesaid, together with
a statement ofthe rate at whi-h the same
may have been sold
Sec. 3. .Hnd,6e IL further engcfed, ThuI.
the secretary of the treasury be, and he is
hereby authorised, with the appreciation OF
the president of the United States, 10 en-
ploy an agent or agents for tbs purpose OF
obtaining subscriptions 20 the loan autho
rised by this act, or Of selling any part OF
the stock created by virtue thereof. a
commission not exceeding one quarter oi
one per cent. on the amount thus sold, OF
Tor winch subscriptions SHALL have been
thus obtained, may, by the secretary al the
treasury, be allowed to such agent or "a
gents and sum not exceeding twenty
two thousand dollars, TO be paid out OF any
monies In the treasury not otherwise APP
sropriated, IS hereby appropriated FOR pay
ing the amount OF such commission OF com
missions as may be thus allowed, and also
for defraying the expenses of printing and
issuing the subscription Certificates, aud
certificates of stock, and other expenses
incident 10 the receiving Of subscriptions,
and completing The loan authorised by this
act.
Sec. a. .And be it further enacted, That
SO much OF the funds constituting the an
nual appropriation Of eight millions oil dol
lars for the payment Of The principal & in C.
rest of the public debt of the Uuited States,
as may be wanted for that purpose, after
satisfying the SUNS necessary ior tho pay
ment Of the interest and such part of the
principal OF said debt as the United States
are now pledged annually to pay or rein
bursc, is hercby pIedgcd-and appropriated
DOR the pay mcnt of the isteresl, and Tor the
reimbursement OF the principal of the stock
which may be created by virtue of this act
1t SHALL accordingly be the duty oil the COM
missioners OF the sinking fund to Gauss TO
be applied and paid out Of the said fund
yearly, such sum and sums as may be an
Dualiy wanted to disChai ge the interest ac-
crulng on the SAID stock, and to reimburse
the principal as the same shall become due
and may be discharged in conformity with
the terms OF The l0In aud they are fur
Their authorised to apply from time 10 time
such sum on. sums, out OF the said fund, la ;
they may think proper, towards redeeming
by purchase, and price not above par,
the principal of the said stock or any part
thereof. And the faith of the United
states is hereby pledged 10 establish sur