American watchman and Delaware advertiser. [volume] (Wilmington, Del.) 1822-1828, 1825-12-30


millions in the Bank of the United States at
five per cent. (the United States holding an
equal amount in the shares Of that ins,u,ion,)
are redeemable at the pleasure of the Gov.
eminent, making, together 2O29623f 4s
The residue of the public debt contracted subseouen.
to the first Of January. 1879, and amounting 6o6so
800 ~ exists in the following portions and redeema,
Bile at the following periods, viz.
IN 1926, being the residue unpaid loans
made i'd in 1873 Is. 16.a7o,7s7 %
made ID in U,d 1914 u. la,o9o. s42 90
made .is in 1915 94s0,oo9 10
debt is all at per cent.
In 1929, stock at d per cent being the
moIety OF per cent. stock of 1913, exchan.
Iged under the act of Congress Of March 3d.
In 1850, stock at 4, per cent being the ''' ~
other m1.oety exchanged as last above stated 79269 u
third OF the sum OF 56,704 II, issued in ex-
change for the per cents. of 1873, 1914,
and 1915, subscribed under the Act Of the
Goth of April 1892 1891 50
In 1882 stock at S per cent ben one 40
other third part Of the sum subscribed, as
In 1884, stock at a. per cent, borrowed A0'oa ~
of the Bank Of the United States, one.half
to pay The Florida Claims the other half to
pay off the per cents. of 1872 under the
Act of Congress of May 26, 1924 100000 On
In 1882, stock at per cent, under the
Act Of &c Congress Of May IS, 1920 99s,999 10
In 1888, stock at per cent, being the re-
naming third, subscribed under the Ac, of
In 1858, stock at Al per cent, being one ''''i -
moiety OF The amount subscribed in exchange
for per cent stock Of 1915, under the Act
Of May 2e' 1924 2s27.ses ~
other moety subscribed last above Ned s227ea 90
In 1885, stock at per cent, being the
an cunt issued under the Act of Congress of
March 3, 1921 4,735,296 so
Total, redeemabe the periods specified ~
Total, redeemable at the pleasure Of the
Government 2o,296,23l Is
Total amount of funded debt on the first
day Of October, 1926 s8o,985,5S7 70
The amount Of Treasury Notes outstanding on
the FIRST of October. 1925, is estimated at Sl66Uo.
And the amount of Mississippi Stock, unredeem.
ed on that day, including awards not applied for, at
|87.85O IL.
The foregoing recaphulation exhibits the precise
amount of the public debt now due, as we'll as tho
diHeren periods at which, by the terms oil the seve-
raj loans under which it was conracted the United
States arc at liberty to pay it off.
OF the sum Of 1l,O749s7 70, mentioned under
the head OF expenditures for 1925, as having been
paid off in that year, 7,727,05 49, we're on account
Of principal Of the debt, and the remainder on ac-
count oil interest during the three first quarters or
the year. Nearly the whole Of the principal thus
paid, was outstanding at an interest of 6 per cent
Looking to the above recsptulation il appears thar,
IN Inc years 1870 and 1877 larger amount OF deby
becomes redeemabc than it will fall within the or
binary surplus means Of the Government TO pay in
The course OF those years, viz. sum exceeding six.
teen millions in the former, and thirteen millions in
the latter year. Both these portions OF the debt are,
also, at interest Of six per cent In 1928, the a.
mount redeemable is at point which, it may be
hoped, the stated means Of the Treasury for that
year, will reach, the ability to pay off increasing as
the process Of reduction advances, both by the in
creasing means Of the nation and the annual liberia
tion ofinterest on the amount OF debt reduced But,
in the year 1929, only gerry smell amount becomes
.cdeemable viz less than one million, and, in the
year 1880, sum no larger.
At the period of the last annual report from the
Treasury, no portion Of the debt became redeema-
bic in either Of those years and, with view to q
more equal diffusion of payments, as we'll as to eff
feet q saving in interest, it was recommended that
the excessof debt which could not by the ordinary
resources OF the Treasury, be discharged in 1896
and l827-the debt redeemsble in the former year,
then standing, at ACKNOWLEDGEMENTS be thrown, in
equal portions, upon the years 1929 and 1880. To
carry this recommendation into effect, so far as sp-
piled to the year 1896 loan Of twelve millions
was recommended at per cent, one-half to be
redccmahle in 1919, the other half in 1880; the
entire twelve millions being intended to constitute
q fund With which, in conjunction with the annual
surplus means of the Treasury, TO pay of the nine
teen millions redeemable in 1896. The principle
Of The recommendation WAS adopted BY Congress: