The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1817-06-04

faithfully ana puncAuaiiy 10 comply win such
engagement. Pretise6 De, That any mo.
ney which may have been paid tefore the
passage OF this act, 10 the eommissionefs OF
tho sinking fund Tor the year one thousand
eight hundred and seventeen, as part Of
the annual cpp, opriations heretofore made
by law 10 !hat fund shall be held TO be pay.
ment TO- the year one thousand eight hun
dred md seventeen, on account OF the api
Precipitation OF ten millions, hsrsinbefore ui.
rested.
Sec. 3. .fad Dc IL Juriher enacted, Thu in
ADDITION TO the sum OF ten millions OF dols
lars, hereinbef fore annually appropriated ID
the sinking fund, there shail he appropriated
Tor the year one thousand eight hundred and
seventeen, 10 the sinking fund, the further
sum Of nine millions OF dollars, 10 be paid
out OF any moneys in the Treasury, not 9th.
erwise appropriated, at such time within Tho
year, as the Secretary OF the Treasury shall
deem most conductive 10 the public interests
TO De applied by the commissioners Of the
shaking fund, to the purchase, or redemption
OF the public debt, aud IL shall be lawful for
the Secretary Of the Treasury, nt any ,isns
during the year one thousand eight hundred
and seventeen, if he shall deem j, expeHient
10 do so, 10 cause TO be paid to The commits.
sioners Of the sinking fund further sum not
exceeding four millions of dollars which
shall &c considered as an advance to that a.
mount, on the spprop opriatiac OF ten millions,-
payable In the oex, year, and the said amount
shall also be applied by the ssic commission
ers, to the purchase, or redemption Of tho
public debt, and the commissioners aforesaid
are authorized and directed 10 Apply the sufhs
oy this act app opriated 70 the purchase and
redemption Of The public debt, holden by the
bank OF the United States, II hot otherwise
TO be obtained on tho terms stated in this acts
Sec. =. Ind Be HyNrfher enarftd, Thut at
ter the year one thousand eight hond'cd any
seventeen, whenever there shall be, st any,
time alter M adjournment Of Congress, IN
any year, SUI plus Of money in the treasury,
above the sums appropriated for the service
OF such year, the payment OF which TO tho
commissioners Of the sinking fund will yet
leave 10 the Treasury, at the end of the ycsrs
balance equal to Two millions OF dollsrD
then such diplus shall, be and ,lso same -
hereby appropristsd to the sinking fund, TO
DC paid st such fines ss tho situs,ion Of the
treasury will best pcrmi, aud shail be ara
pies ~ the con- missioners thereof, IN tho
purchase or redemption OF the public debt,
Sec S. find DC if further enacted, That
whenever, In any year, there shall be SURE
plus in the sinking fund, beyond the amount
OF interest and principal, which may be aes
tually due and payable by the United Statos,
in such year, in conformity with thcir ens
gngcments, tho commissioners Of the sinkA
ing fund shall &c, and they are hereby, seA
thorizcd, with the spprobsiion oT the Presi.
dent ef the United States, to purchase tho
debt OF tho United Sidles, at is msf ke, price,
u such price shall not exceed the following
rates, viz. for stock Of tho Uni,ed States,
bearing an interest Of three per eeotum per
snnum, there shall not bs paid more than sixA
" i've dollars for evoy hundred dollars Of
the principal thereof; for stock bearing an
annual interest Of six per centum per annun,,
there shall not be paid moro than the par or
true value thereof and for stock bearing an
annual Interest Of seven per centurn, there
shall not DO paid an advance sb0ve tho par
value thereof, which shall exceed for every
hundred dcllars Of stoek the computed value
o. an annuity Of one dollar for . number Of
years, equal TO tba during which the AOrk
30 purchased will rot be reimburssbls at tho
pleasure Of government, estimating, in such
computation, the interest Of money at six
percentum per apnum.
Sec. 8. .fnd Be it further enacted, That ell
certificates Of public debt which by payment
or purchase have become or hereafter ahail
become the property Of tho United States,
shall be cancelled or destroyed, at such times
and under such regulations and securities, -
the commissioners Of the sinking fund, With
the appreciation Of the President, shall esiaba
lish and dsierrine. And no interest shall
be considered as sceruing and no further pay.
meu, shall be made on account OF such debt,
the certificates Of which have been so cancel
led and Destroyed.
Sec. 2. And be H further enacted, That
nothing in this act contained shall be cons,tu-
to prevent the Congress Of the Cnitod States,
if wsr shall occur With any foreign powek
from applying, to any objsc, Of public service
any surplus Of the amour, herein appropfis
ed to The sinking fond, which may be left 10
any year after paying the interest end priDei-
pal which may be sctuslly due and payable
by the United States, 10 conformity with their
engagements. Nor shell soy thing 10 this
act be construed 10 tepesl alter, or eject spy