Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1813-03-04

| rowed, Ut any time after the expiration of Is
years, from the LIST day of January next Aad ii
70 here2yjnrther declared, That iG shall be deem
Ell good execution of The said power to Dor
| row, Tor the President of the United States to
csuse,tobe sold the whole or any part OF the Ger.
uhcates OF stock issued for the Sums to be bor-
rowed by virtue Of this act
Sec. find be a. further enacted, That the
President ofthc United States do cause to be
laid before Congress. the irst Monday in
February, eighteen hundred and fourteen, or
as soon thereafter as Congress may be in sessi-
on an account of all the MONIES obtained by
the sale of the certificates of stock by virtut
of the power given him by the preceding sec
ton, together with statement af the rate at
which the same may have been sold.
Sec. 3. .2ri BE it jisyther enacted, That the
Secretary otti,e Treasury be, and he 10 hereby
authorised to>cmPloy, with the appreciation of
the President of tie United States, an agent
or agents for the purpose of obtaining sub
scriptions to the loan authorised by this act,
o. OF selling any part of the took created by
virtue thereof. A commission not exceeding
one quarter ct one per cent. on the amount
thHs sold, or for which subscriptions shall have
been thus obtained, may, by the Secretary of
the Treasury, be allowed TO such agent, or q,
gents; and a sum not exceeding forty thousand
dollars, to be paid cut of any monies in the
Treasury not otherwise appropriated, is here
by appropriated for paying the amount Of such
commission, or commissions, as may be thus
| allowed, and also for defraying the expeHces of
printing and issuing the subscription certii-
Gates Of stock and other eYpences incident to
The receiving of subscriptions, and completing
the loan authorised by this act.
Sec. a. .Qnd6e IL further enacted, That so
much ofthe funds constituting the annual APP
preparation OF eight millions of dollsrs, for the
payment Of the principal and interest OF the
1.l,, Of ha H.
wanted for that purpose, after satisfying the
sums necessary for the payment Of the interelt,
and such part of the principal Of said debt as
the United States are now pledged annually to
pay or reimburse, is hereby pledged and APP
propriated Cor the payment OF tie interest and
Tor the reimbursement Of the principal of the
stock which NAV be created bv virtue OF this
act it shall accordingly he the dnty of the
commissioners of the sinking fund, 60 cause TO
be applied and paid out oftae said fuud, year
ly, such sum and sums, as may lie annually
wanted TO discharge the interest accruing on
the said stock, and to reimburse the principal
rs the same shall become due, and NAV be dis
charged in conformity with the terms OF the
loan and they are further authorised to apply
from time to time, such sum or sums, out of
the said fund, as they may think proper, TO.
! wards rc1ceming by purchase, and nj price
not above par, the principal of the said stock,
or any part thereof. And the faith of the Uni
ted States is hereby pledged, 10 establish sur-
6cient revenues for making up any deficiency
that may hereafter take place in the funds
hereby appropriated for paying the said inter-
est, and principal sums, or any of them, in
manner aforesaid
Sec. S. .4nd be it further enacted, That it
shall be lawful for any of the banks in the dis
trict 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 IN
corporation to the contrary notwithstanding.
III. CLAY,
Sneaker Of the House Of Rehresentatives.
WIN. H. CRAWFORD,
President ofthe Senate Iiro tem,hore
February 8. 1913.
APPROVED,
JAMES MADISON.