The enquirer. [volume] (Richmond, Va.) 1804-1815, 1813-01-30


fray any Of the expences which have been
or, during the present sessions of Congress
may be authorised bylaw, Sttor which appro-
lpriations have been, or, during the present
session of Congress, may be made b. law ;
Provided, That no engagement nor con-
tract shall be entered into, which shall pre-
cludc 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 January neXt---.fld
IL is hereby .}ur.her declared, That it shall
be deemed good execution of the said
power to borrow. for the President of the
United States to cause to be sold the hole
or any part of the certificates CT stock isSu
ed FOR the sums to be borrowed by virtue
of this act
Sec. ,. Ind be it further enacted, That
the President of the Unired States do
Cause TO be laid before Congress on the Isl
Monday in February 1914 or as soon
thereafter as Congress may be in scssoh,
an account of AL monies obtained by the
sale OF the certificates OF stock by virtue OF
the power given hirn by the preceding
section, together with a statement of the
rate at which the same may have been sold.
Sec. 3. Iind be IL fi,rthe'' enacted, That
the Secretary ut the Treasury be, and he
is authorised TO employ, with appreciation
vi Tie GfESlUt'C OI the OHilSf CLd(SS, an
agent or agents, for the purpose OF obtain
ing subscriptions 10 the loan authorised by
this act, or Of selling any part of the stock
created by virtue thereof, A commission hot
exceeding one quarter of one per cent. ON
the amount thus sold. or for which sub
scriptions shall have been thus obtained
may by the Secretary of the Treasury, be
allowed to such agent, or agents, and a
sum not exceeding forty thousand dollars,
to be paid out Of any monies in the Trea-
sury not otherwise appropriated, is hereby
appropriated tor paying the amount of such
commission, or commissions as may be thus
allowed, and also for defraying the expen.
ces of printing and issuing the subscription
certificates, and certificates of stock. and
other expenses incident to the receiving Of
subscriptions, and completing the loan aa-
thorised by this act.
Sec. 4. ind DC IL further enacted, That
so much of the funds constituting the annual
appropriation of eight millions of dols. for
the payment of the principal and interest
of the public debt Of The United States IS
may be wanted for thar purpose, after sa-
tisfying the sums necessary for the nav
ment OF the interest, and such part Of the
principal of the said debt, as the United
States are now pledged annually to paw
or reimburse, is hereby pledged and ap.
propriated for the payment of the interest
and for the reimbursement of the
principal of the stock which NAV b,
created by virtue of this act it Shall
accordingly be the duty of the com
missioners of the sinking fund, to cause To
be applied and paid out of the said fund.
yearly, such sum and sums, as may be an
nually wanted to discharge the interest ac-
cruing 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 loan i; and they are
further authorised to apply from tune, to
time, such sum, or sums, out of the said
fund, as they may think proper, toward.
redeeming by purchase, and at a price not
above par, the principal of the said stock,
or any part thereof. And the faith of the
United States is hereby pledged, to es,a-
blish sufficient revenue for making no any
deficiency that may hereafter take place il,
the funds hereby appropriated for paying
the said interest, and principal sums, or a
ny of them in manner aforesaid.
Sec. S. find tie il fMrthe, enacted, That II
shall be lawful for any of the banks in the
District OF Columbia, to lend any part of
the sum authorised to be borrowed by
virtue of this act, any thing in any of their
charters of incorporation to the contrary
notwithstanding.
The question having been stated on the
passage OF the bill
MIR. Gold and Mr.. Pitkin each spoke at
great length in opposition to the bill.
The question was then taken on the pas
sage Of the bill, and decided as follows.
YEAS--Messrs Aston, Anderson, Archer. Ave-
ry, Bacon, Bard, Bssset, Bibb, BIackledge, Brown,
Burweil, Butler, Calhoun, Carr, Cheves, Cochran,
Clopton, Condit, Crawford. Cuts, Davis, Dawson,
Des,a, Dnsmoor, Earle, Findey, Franklin, Ghol.
son, Goodwin, Green, Gruudy, y. Hall, o. Hall,
Harper, Halves, johnson, Kent, King, Lacocls, Lit
tie, Lyle, Moore, MCoy, M'Kim, Mitchill, Morgan,
Morrow, Nelson, New, Ne ton. Orinsby Pckens,
Piper Pleasants, Pond, Ringgold, Robertson, Rbea
Roberts, Sage, Sawyer, SEWER Seybert, Shaw, g.
Smith, }. Smith, Stow, Strong, Taaferro, Troup,
Turner, Whitehill, Widsery, Wright---72.
NAYS essrs. Baker, BigeIow, Beecker, Boyd,
Breckenridge, Brigham, Champion, Chi;tenden,
Cook, Davenport. Ely, EInott, Fitch, Gold, Colds,
borough, Gray, Hufty, jackson, Lewis, MB,yde.
Minor MoseIey, Pitkn, Potter. Quincy Randolph,
Reed, Rdgeiey, Summons, Shelley Stuart, Sturges,
raggArt, Talmadse, Tallman, Wheaton, White, VII
sons.
SO the bill was passed and sent to the
Senate for concurrence.
On motion Of Nh. ChcreS, the House re-
solved itself into a committee of the whole
on the bill, reported by the committee OF
Ways and Means, " authorizing the issuing
Of Treasury Notes for the service of the
year 1915"
THE bill authorizes the President of the
United States to cause to be issued Treasu-
ny notes to the amount Of FIVE million of dol
lare anA alsn Z l. 1911 49,. - vnp~si
ent, to issue Il farther amount not exceeding
five millions of dollars provided the amount
iseued nader the latter. t,rnNisinu shall lac