The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1817-05-30
BY AUTHORITY.
AN ACT
AN ACT
To provide for the redemption Of the
public debt.

SO much OF any act or acts of congress
as makes appropriations for the pur-
chase or reimbursemenl Of the princi
pal, or Tor the payment of the interest
OF the funded debt OK the United States
be, add the same is hereby, repealed.
Sec 2. Ind be IL further enacted,
That from the proceeds of the duties or
merchandise imported and on'the ton.
mage OF vessels, and from the proceeds
OF the internal duties, and of the sales
81 western lands, now belonging, or
which may hereafter belong TO the u.
nited States, the annual sum Of ten mil.
lions Of dollars be, and the same is year
" appropriated 10 the sinking fund !;
and the said sum is hereby declared to
De vested IN the commissioners of the
sinking fund in the same manner as the
moneys heretofore appropriated to the
said fund, TO be applied by the said COM
missiouers TO tie payment Of interest
aud charges, and TO the Reimbursement
or purchase of the principal of the pub
'ic debt /; and 1t shall be the duty of the
secretary OF the treasury annually TO
cause to be paid to the commissioners
oil the sinking fund, the said sum Of ten
millions OF dollars in such payments,
and at such times in each year as the
situation of the treasury will best ad.
mi:. Providsd, That all such pay.
men's as may be necessary TO enable
tae said commissioners to discharge OF
reimburse any demands against The u
nited States, on account of the princi-
pal or interest of the debt which shall
be actually due in conformity to the en-.
gagements OF the said Omitted States,
shall (may) he made at such times ia
each year, as shall enable The said com.
missioners faithfully and punctually to
comply with such engagement. Pro
oidea afSo' mat any money which may
have been paid before The passage Of
this act, to the commissioners of the
sinking fund for the year one thousand
eight hundred and seventeen, as a part
oflhe annual appropriation heretofore
made by law to that fund, shall be held
10 be payment for the year one thou
sand eight hundred and seventeen, on
account OF the appropriation OF ten mil!
lions, hereinbefore directed.
Sec. 3. .And be il further enacted
That IN addition 20 the SUM often mil
lions of dollars, hereinbefcre annually
appropriated TO the sinking fund, there
shall be appropriated for the year one
thousand eight hundred and sew .nteen,
TO The sinking fund, the further sum of
nine millions Of dollars, to be paid out
of my moneys in the treasury not other.
wise appropriated, at such time with.
In the year, as the sec, etary of The trea-
sury shall deem most conducive to the
public interest, 10 BE applied by The
commissioners Of the sinking fund, TO
the purchase or redemption of the pub,
lie debt, and it shall re lawful for the
secretary OF The treasury, at any time
during the year one thousand eight hun.
died and seventeen, if he shall deem it
expedient TO do so, TO cause TO be paid
to the commissioners Of the sinking
fnnd further sum not excee ding four
millions OF dollars, watch shall be con-
sidered as an advance to that amount.
on the appropriation OF ten millions,
payable In the next year, and the said
amount shall also be applied by the said
commissioners, to the purchase, or re.
demption of the public debt, and the
commissioners aforesaid are authorised
and directed to apply the sums by this
act appropriated 10 the purchase and
redemption of the public debt, holden
by thu bank Of the Uni ed States, if not
otherwise to be obtained on the terms
stated in this act.
Sec. 4. And be IL further enacted,
That alter the year one thousand eight
hundred and seventeen, whenever there
shall be at any time after an adjourn
ment OF congress. in any year, surplus
OF money in the treasury, above tie
sums appropriated for the service of
such year, the payment of which to the
commissioners OF the sinking fund will
yet leave IN the treasury, al the end OF |
the year, balance equal to ten millions
OF dollars, then such surplus shall be, |
and the sameis hereby appropriated to
the sinking fund, to be paid at ouch
times as the situations Of the treasury
will best permit; and shall be applied |
by the commissioners thereof, to tbe
purchase or redemption OF Tue public |
debt
Sect. $ Ind be il further enacted |
That Whenever, in any year, there shall
be surplus in the sinking fund, be-
'ond the amount OF the Interest and
principal, which may be actually due
md payable by the United STATES, in
such FcaT, in conformity with their et
the commissioners Of the
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