The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1814-04-20
LAWS.
pUBLisHEE BY .lU1monlrr


AN ACT
To authorize loan for sum not exceeding Twsn.
y-hve Millions of Dollars.
6eNeaaeied 5y hhs SENATE and Heuse sf Reeresenta.
hces he United States Of lmerTcan Consress assea
Died, That the President Of the United States be and
he Is hereby authorised to borrow. on the credit of
the United States. a sum not exceeding twenty FIVE
millions OF dollars. to be applied in addition 40 the
monies now in the Treasury, which may be recciy-
ed from other sources defray any expenses which
have been. during the present year may be suhor
ized ty law and for which appropriations have been,
or uuring the present year, may be made by law /:
<rsssdsd That no engagement contract shall be
entered into, which shall preclude the Unitei States
from reimbursing any sum or sums thus borrowed at
any time after the expiration of twelve wears from
the last day of December next.
Sec z Ind De n further eaacfed, That the eecre.
tary OF the Treasury, with The appreciation of the
President ef the United States be, and ne Is hereby
authorized to cause to be constituted certificates OF
stock signed by the Register Of the Treasury or bv
aCsmmissioner of Loans, for the sum 10 be borrow.
ed by this act for any part thereof and the same
to be sold And the Secretary of the Treasury shall
lay before Congress, during the first week in the
month OF February, one thousand eight hundred and
hieen, an account OF all the monies obtained by the
sale OF The certificates OF stock in manner aforesaid
together with statement Of the rate at which the
same may have been sold.
Sec. j. Ind " it fisrihsr enaefed That the Secre
taty OF the Treasury be, aud he is hereby authorized
with the appreciation of the President of the United
states to employ an agent or agents for the purpose
OF obtaining subscriptions t. the loan authorized by
this act or CT selling any part of the stock 70 be ere
ated oy virtue thereof commission not exceeding
one quarter OF one per cent the amount thus sold
or Tor which subscriptions shall have been thus OBJ
tanned, may, by the Secretary OF the Treasury. be
allowed to such agent agents (; and a sum not ex
ceeding sixtysix thousand dollars, TO be paid out Of
any monrs IN the Treasury otherwise appropr.t.
ed, is hereby appropriated for paying the amount of
such commission or commissions as NAV be thus nj.
lowed, ,nd also for deirayng the expenses of print.
ing anu issuing the subscription certificates and cer-
thcates of stock, and other expenses incident On b
completing of the loan authorized by this act
Sec. 4 Ind Be it further enacted That so much az
the funds constituting the annual appropriation of
eight millions OF dollars for the payment OF the prn
c'pal andfnterest of tie public debt OF TIE United
States, asnsy he wanted for that purpose after sat
isfyng he necessary Cor the payment of The ;n
terest andsuc part of the principal of said debt as
the United states ale now pledged annually TO pay
or reimburse, is hereby pledged and Appropriated
for the payment Of the interest, and for ;hc rein
hursementof the principa! Of tie stock which may
De crcated oy virtue OF this act 1t shall according.
ly be the cuty of The comnsui suioners of the sinking
fund to cause to be applied and paid out of the said
Wanted to discharEe the interest accruing the
7aia stock and tc reimburse the principal the same
becomes due and may be discharged in conformity
with the terms Of the loan and they further a,i.
thorized to apply from time TO time such sum or
sum. out of the said fund, they may think pro-
per, towards redeeming by purchase, and at price
not above par, the principal of the said stock, any
part thereof And the faith of the United States is
hereby pledged TO establish sufficient revenues for
making good any deficiency that may hereafter take
place in the funds hereby appropriated for paying
The said interest and principal SONS. or any of them
in manner afo, essid.
Sec S. find be H further enacted, That it shall be
lawful for any of the Banks in the District of Coum
bia, to lend any part Of the sum authorized to be
borrowed by virtue of this act any thing in any of
their charters to the contrary notwithstanding.
LANGDON CHEyES,
Speaker Of the House Of Rcerescntativcs.
r. GERRY,
Vice. President Of the United States, and
President Of tie Senate.
March "a, lsl4-.9Rproved, JAMES MADISON.