Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1815-12-16
[ y o.. mo. 67.


Stock, according to the right reserved
and then to the purchase, at its market
price. OF any oiher public Stock.
s. In the yer 1875, " The Sinking
Fund" was established by name; its re-
sources were vested in the same Comm,ssi-
oncrs; and its operations were subjected 10
thei' direction aud management. The duty
of the Commissioners, independent of ter,-
por .ry objects, consisted in applying the
Sinking Flu d, lst, to t e payment Of the
6 per cent Stock, a. the stipulated rate of
8 per cent per nun Cd, t, tle payment
of the ID fecred Stock after the We n 1901.
according 10 tie same stiIulat ton, and 3 /.
it any su plus &c named. towards the fur
Their and final I'd ,mution Sc die pubhs.
debt, of every denomination. For tie ac-
complishmeut of these pu,pnses, there
we permanently approDr atcd & I'll .,lgcs..
in addition t. the other monies cons.ituii q
the Sink ng Fund.- an the inteie,t of th.
amount of the purchased or T. deemed
debt, 1St, sun isn't sum arising yearly.
AMI every year from the duties ON irnror,s
and tom sc, an the duty on domesti, DIS
titled spirits and stills as m'gat b.; right
fully pail of tie priucipal Of the 6 ner
csnt Sto, K, coHuen ing on the first Of Ja-
nuary. 1896; d Of the Defer d Stock
commencing N the LIST of January 1909
ID. the dividends on the public shares in
the nix Of the United Sta es, but the
shares were sold in 1896 and 1902, under
an auth GRITTY given in l795. 3D.. the nett
proceeds o. tn So! of public lands IN the
western territory. 4th. mon es received
into the Ire sury on account of old debts.
5th, the surp!uses Of venue, bsyond the
amount of the appropriations
4. Su II was the outline of the Sinking
Fund. when on the 9th OF April, 1902. the
int rnal duties We're repealed, and on the
29th OF April, 1902, new and additional
provision was mate for the redemption Of
the pubic debt Thus an annual sun,.of
800 600 dollars, was permanently appro-
priated M vested in the commissi, ners of
the Sinking Fund to be produced, Is, by
the monies (other than the surpIuses Of re-
venue) which then constituted the fund, or
should arise to il by virtue of any previous
provisions ; I'd. by the suns annually re-
CURED to discharge the interest ard char
gcs of the public debt and Sd, by SO much
OF the duties on merchandise and toms &c,
as would he nece ssary, together with the
preceding resources, to complete the aDnu-
al investment of Z 500. coo dollars. The Act
not only placed the REIN urseaient Of the
princip J, but also, The payment on &C, cunt
of Interest and Oh rges, of the puhlic debt.
und + tie superipten aacc of the CoFaffSs-
stones NIX ng it the duty to cause the
iund t. be applied in payment. 1st of such
sums as by virtue Of any Acts, they had
previously been directed to pay Cd, Of
such sums as may be annually wanted TO
discharge the interest and charges accru
ing on any other part of the then d. BIT of
the United States; 81 Of such sums as
may be annually required 10 discharge anv
n h 4 ~
4lh, as to any surplus, to apply it towards the
further and final redemption. bv n4ym,,.t
or purchase of the then ebt. The art rs
the 10th ct November, 1908, having c,., &.
tea op'r cent. stock to tie amount of IL
$50 COO dollars, in pursuance Of the Con-
vention Tor the purchase Of Louisiana. -
ded IN annual sum of 100000 dollars tn
the Sinking Fund, to be pad ont of the.
dates on merchan'iize and tonnar and
t. be ap lied by the Commissi ncrs Ia fbr
payment f the public deLt, mcludi,r the
L. Hisiana Stock, in the manner above st,~
TED. 1t may be added that the interest on
ne Louis ana Sock is pryabl, in Europe.
ont the principal is rin buTsable az the
Ire sur OF The Unitec States in & mr. snnm-
al instruments commenting in 1903.
1t obvious that Suk Fund of g.
oVO,OVO OF collars GTepen4ent Of the gen
eral p'edg IN prior lsws) was ample for
the paymert of the interest md the nr;,c;-
pal OF a publ debt, amounting only to the
sum OF 80 OCO,O0O dolls. cxtingu shinu the G
per cent. stock in 1878, the def rred SocIs
III 1924, AMI the Louisiana stock in 1899
a. last as the terms Of the Contracts, and
the p"ilcy OF the government, would per-
mit. ne general operation cf the FIND
indeed, II been shewn ; but 1t IS pfob6r
more particularly to add, that on Tn Idtnf
January, 1915, there hsd been transit rrrd
to the credit of the commission eqs. in the
books Of the Treasury, an amount Of p,b-
he debt equal to the sum OF 50 SIS z63dois.
90 cts. Of the following determinations To
wis: ~
/. Foreign De5t.
3 per cent stock $500 600
Z 1 2per cen, stock $4,000
per cent stock 318O 100