Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-01-14

r,.at expense, and found 70 afford
10 sufficient defence Therefore =
Rcsolred, That an addition q ftty
cents on the hundred dollars be made
annually 10 tile county lesies, on all
taxable property In each county, and
the city of Baltimore, ts'be collect
ed III the same manner as other ic-
yies, and paidoyer annually int the
treasury Of the shore on which It
may be collected, and all sums re,
ceiyed by the treasurer Of the ea-
stern shore to he paid over 10 the
treasurer Of the western shore.
8. And, as the terms on which
loans can be obtained must be mate,
rally and favorably effected, and
consequently the public intcres.
much promoted. not only by the adj
equacy, permanency, and so'idisy Of
the fund for the payment ofthc inter
est, bat also by perfect security
forts application to that object, ami
by an adequate provision, in the ma
tnrs OF sinking fund. for the ex-
tinguishment Of the principal, by pur-s
chase in the market wherein II can
he obtained al or under par, there
fsrc, Resolped, Fiat the wkctc sua
Of money to arise from the said adj
dition, and to he paid a, aforesaid
iato the treasury of,he western shore
be annually granted to, aud vested
in, the chief judge Of the court Of
appeals, the chancellor. and the
treasurer Of the western shore, all
for the time being who 'slall be con
s,ituted trustees and commissioners
Of a sinking fupd; 4 that il shall be
their duty, out Of the said fund. to
pay quarterly, at thu treasury OF the
western shore, the interest on the
sum to be borrowed as aforesaid.
and on all the other pubic debt OF
this state, and to apply the surplus
of the said fund. quarter yearly, to
the purchase in open market oil any
part oftbe public debt OF this state.
which can be purchased at or uuder
par, the stock so purchased 20 be
transferred to and vested il them. &
tie interest thereon to be paid to
them, and applied as part OF The SAID
fund to the purchase espub!ic debta
aforesaid, till the whole shall be cx
tinguished. or otherwise paid OF; {.
that they shall lay before the L-gis
la,ure. annually. an account OF their
proceedings in the said trust.
4. And. as the state ought 10 have
the power Of discharging the said
debt. whenever it may fnd that
measure convenient, and the interest
Of the stockholders, and consequently
the value Of the stock. and tie facili
tv of obtaining the lean. as well as
the terms Of it. would all he disad- |
vantageously Effected, by the pay
ment in small progressive install
ments; therefore, isesolred, That
the sleek to be created by the said
loan. shall be redeemahle at the plea
sure Of the state. by paying of the
whole at one or two payments, bat
not otherwise.
8. And. as it is probable that the !
government ofthe United States will
take the said troops into its servirs. |
for the purposes Of local defence, for
which they are 10 be raised. au,luili |
in that ease refund the expvnce to he
incurred in raising and supporting
them, as well as take on itself their
future support therefore. Resalred, |
That in ease the United STATES shall !
take the said troops into their service |
as aforesaid, the sums to he refund |
ed hy tae United States AS aforesaid. |
shall be paid into the hands Of the
said commissioners. and Shall by
them be applied to the payment Of |
the Aforesaid loan or the said ex. |
pence shall he refunded by means Of |
stock Of the United States. then such |
stock shall be vested in the said com |
missioners, who shall be authorised |
to sell it at par, and apply the pro-
cecds in the payment oflIle said loan,
Il that when the said loan shall have