Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-04-17


States, contracted ar the time Of the sub
scriptions respectively. Aud the payments
made in the funded debt of toe United
states, shall be paid and received at the
following rates: that is to say. the funded
debt, bearing an interest OF SIX per oeniun
psr annum, at the nominal or par value
thereof the funded debt bearing an inter
est OF three per centum per 2nnuai, at the
rate OF slxty-hve dollars for every sum OF
one hundred dollars OF the nominal amount
thereof ; and the funded debt bearing an
lnterese OF seven per centum per annun, at
the rate OF one hundred and SIX dollars and
htty>one cents for every SIAN OF one kund-
red collars of the nominal amount thereof !;
together with the amount of the intel est
accrued on the said several denominations
OF funded debt, to be computed and allow
ed to the tine of subsc. ibing the same to
the capital the said bank as alorcsad.-
And the payments OF the said subscriptions
shall be made and completed by the sub
scribers, respectively, at the times and in
the manner f3llowiug that is to say, at the
time or subscribing, there shall be paid
hive dollars on each share, in gold or sill
Yer coin as aforesaid, and twenty-five dol
Lars morein coin as aforesaid, or in funded
debt as Aforesaid at the expiration of six
calendar months alter the time of Subscrib-
ing, there shall be paid the further sum of
ten dollars on each share, in gold or silver
coin as aforesaid, and twenty-five dollars
more IN coin as aforesaid, or in funded debt
as aforesaid {: at the expiration of twelve
calendar months from the time Of subscri-
bng, there shall be paid the further sum
OF ten dollars or each share in gold or silver
Coin as Aforesaid. AMI tive. v five dollars
mr. en- ,t, Z I
debt as aforesaid.
Sec. 4. ind be it further enacted, That
at the time of subscribing to the capital of
the said bank as aforesaid, each and every
subscriber shall deliver to the Commission
ers, at the place of subscribing, as well
the amount OF their subscripti ms recp-c-
lively in coin as aforesaid, as their certif-
Gates ct funded debt, for the funded debt
proportion Of their respective subscriptions,
together with power of attorney, euthor-
lsiAg the said Commissioners, or a MAORI.
ty OF them, to transfer the said stock in due
form OF law TO g the President, Directors,
and Company of the Bank of the United
otates,' as soon as the said Bank shall be
organized. ProUlded, Always, That if,
In consequence of the apportionmeut ofthe
shares III the capital OF the said bank a.
mong tie subscribers, in the case, and IN
the manner herein before provided, any
subscrib shall have delivered to the
CONF issioners at the time Of subscribing.
a greater amount OF gold or silver coin and
funded deb, than shall be necessary to
complete the payments for the share or
shares to such subscribers apportioaed as
aforesaid, the Commissioners STALL oply
retain SO n0ch Of the sad gold or silver
CON, ana tunaed deot, as SIIaEl -..~ocsser
ry 10 complete such payments. and shall
forthwith return the surplus thereof, on ap-
plication Tor the same. to the subscribers
lawfully entitled thereto. And the Com
missioners respectively shall deposit the
gold and silver coin, and certificates of
public debt by them respectively received
as aforesaid, from the subscribers 10 the
capital Of the said bank, in some place OF
secure and safe keeping, so that the same
may and shall be specially delivered and
transferred, as the same were by them
respectively received, to the President,
Directors and Company of the Bank Of the
United States, or to their order, as soon as
shall be required atter the organization of
the said bank. And the said ComIT ission-
ers appointed 10 supetiatend the subscrip-
lions to the cap tai of the said bank as
aforesaid, shall receive reasonable COM
pensation for their services respectively,
and shall be allowed ali reasonable char
ges and expcnces incurred in the eXecu-
ton OF their trust, to be pad by the Pre-
sident, Directors and Company of the
Bank, out of the funds thereof.
Secs. A7d betH further enacted, That
it shalt be lawful for the United States 70
pay and red en- the funded d-tt subscri-
bed to the capital of the said bank, at the
rates aforesaid, IN such sums, and at such
times as shall be deemed expedient, any
thing in any act o. acts Of Congress TO ths
contrary thereof notwithstanding. And IL
shall also be lawful for the President. D.
rectors and Company e The said bank, to
sell and transfer for gold and silver coin,
or bullion, the funded debt subscribed to
the capital Of the sad bank as afure-
said: ProUided oizgays, That they shall
not sell more thereof, th,n the sum
OF two millions Of dollars in any one
year nor sell any part Thereof at any
time within the Uaited States, with.
out previously giving tice Of their inten-
ton to the Secretary OF the Treasury, and
offering the same to the United States, for
the period Of fifteen days at least at the
current price, not exceeding inc rates a.
foresaid.
Sec. 6. .f,lf be II further enacted, That
at the opening # the subscription 20 the
capital stock Of the said bank, the Scc-eta-
~ of die Treasury shall Subscribe, or cause
TO be subscribed, on behalf Of the United
States. the sal number Of seventy thou-
sand s'ares, amounting to seven millions Of
dollars as aforesaid, to be paid in gold or
silver coin, or in stock Of the United
States, bearing interest at the rate of FIVE
ftf rftI