Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1825-04-01
TREASURY DEPARTMENT,
March Id. IS)5

w was passed ny the Congress of the United
States, of which the 3d. 4th and 5h sections are i'm
the words following, viz:
"SEC. j. lind be IL further enacted, That SUBJ
scrpon to the amount twelve millions of dollars,
oil the six per cent stock of the year eighteen nun
dred and thirteen, be, and the same is hereby pro-
posed; for which purpose books shall be opened I
the Treasury of the United States, and the
raj loan Offices, the first day of April next, to
continue open until the first day of October thereaf
ter for such parts of the above mentioned descrp-
ton of stock as shall, on the day of subscription,
stand on the books of the Treasury, and those f
the several loan offices, respectively; which sub
scrpton shall be effected 10y transfer TO the United
States, i'll the manner provided by law for such
transfers, OF the credit or credits standing on the
said books, and by surrender of the certificates of
the stock to subscribed: Provided, That all sub
scrpton by such transfer of stock shall be consider
ed part of the said twelve millions of dollars au-
thorized to be borrowed by the st section of this
act.
"SEC. A. .4ndJ be 1t further enacted, That. for the
whole Oh any part of any sum which shall he thus
subscribed credits shall be entered to the respective
subscribers, who shall be entitled TO a certificate or
certificates purportng that the United States owe TO
the holder holders thereof his, her, or their as
signs, a sum to be expressed therein, equal to the
amount ofthe principal stock thus subscribed bear
ing an interest not exceeding four and one half per
centum per annum, payable quarterly, from the
thirty -hrst day OF December, one thousand eight
hundred and twenty five; transferable in the same
is provided by law for the transfer of the
stock subscribed, and subject to REDEMPTION an the
pleasure of the United States, as follows: one half
at any time after the thirty first dav of December
one thousand eight hundred and twenty and
the remainder at any time after the thrtv-fiist cav
of Dscember, one thousand ight hundred nd TWEEN
ty-nne: Provided, That no reimbursement shall be
made except for the whole amount of such new Ger
ttcate; nor until after at least six months public
notice of such intended reimbursement And il sha n
be the duty of the Secretary of the Treasury 10
cause to be retranserred the respective subscri-
bers the several sums by them subscribed beyond the
amount of the certificates u(four aud one half pel
cent stock issued to them respectively.
SEC. 5. lind be a further enacted, That the
same funds which have heretofore been, aud now
are, pledged by law for the payment nfthe interest
and for the redemption aud reimbursement of the
stock which may be redeemed or reimbursed by viz
tue OF the provisions of this act, shall remain pledg-
ed III like manner for the payment of he interest
crung on the stock created by reason such sub.
Scription, and for the redemption or reimbursement
of the principal OF the same. And ii shall he the
duty of the commissioners of the sinking fund 10
cause to be applied aud paid, out of the said fund
yearly and every year, such sum and sums as NAV
be annually required to discharge the interest &C.
cruing the stock which may be created bv virtue
of this act The said commissioners are lso here.
by authorized to apply, from time TO time such sum
anu SulilS Out ol tue Sdlu IUuQ, as they think
proper, towards redeeming by purchase, or by REIN.
bursement, i'll conformity with the provisions of thi.
act the principal of the said stock and such part OF
the annual sum of ten millions ofdolars vested by
law i'll the said commissioners, as may be necessa ~
and required for the above purposes, shall he and
continue appropriated to the payment of interest
and redemption of the public debt, until the whole
of the stock which may be created under the pro.
visions of this act shall have been redeemed or re-
imbuTsed."
Now, therefore, notice is hereby given that book.
will be opened the Treasury of the United States
and at the several loan Offices, Oh the first day Of
April next, and continue open until the first dav OF
October thereafterUr receiving subscriptions in con.
formty with the provisions of the said law
The subscriptions may be made by the proprietor.
ofthe stock, either i'll person or by their Attorney.
duly authorized to subscribe and transfer it to the
United States.
Should subscriptions of said stock be made to an
amount exceeding twelve millions Of dollars, dis
tribuiion of the said sum of twelve millions will he
made among the subscribers, in proportion to the
sums subscribed by them respectively
SAMUEL L. SOUTHARD.
Acting Secretary of the Treasury
March IS