American watchman and Delaware advertiser. [volume] (Wilmington, Del.) 1822-1828, 1826-12-22

King tOkcttcr S<OsZOU,Sf ~ aiC ~" iNH~~''~~ -
pleasure of the Government.
The remainder of the debt has been contracted since
the first Of January 1Sl2 and consists OF the sums tha'
tollnM, releemabe al the dates that follow ,
l. The sum of Sill 25l97 49, At six per cent beng te
residue unpaid OF Inc loan under The act OF the OF Feb
ruary, le18, and redeemable in 1896
g. The sum OF S13 96,542 %, at per cent beng INC
residue unpaid of made in 1874 and redeeaoie !"
1897
3. The sum Of 80 490Ce9 10, at six percent. being the
sesiue unpaid of loans made in 1885, and redeenhoic III
4 The sum Of $3.50 66s o. at interest Of four and
half cent being one half OF the s'1 per Gem seh
1S13 exchanged under the act OF Congress OF tue % VI
Match, 1925, and redeemabe in 1899 -
S. 1he sum of S769, SOS 08, interest OF four and
half per Cent? being the other hall OF the SIX per cent
stock exchanged above and redeenabe i'll 1850 lhese
last enumerated sums were set down ast year ny es
innate, at 792569 A. respectively The accounts OF ,e
Commissioners OF Loans having since been aulseu' 'e
true amounts are ascer'aned to be as now exhibited.
g. The sum of Sl8901 So. at five per cent being the
onethd part of the of $780, 704 II issued N exchange
Tor the six per stocks of 1875 1874 and 1872 uoe
the &C, of the 10th APRIL 1922, and redeemable IN 1881
2. The of S8,90l SO, at FIVE per cent. beng one
other third part of tue subscribed as above ssteo'
and rcdeelnable in 1882
8 The sum Of 100000, at four and half per cent
being stock borrowed under the act Of May the 24h ana
26h 1894 Of the Bank of the United States-one haA %
pay the Florida Cams the other half 10 ray or me sA
per cent stock of 1879, and redeemable IN 1882
9. The Of 5000 500 10 at Eve per cent beng me
stock created by the act of Congress OF May The l'h
1920, and redeemabe in 1852
10 The Of Sl8,90l &c. at five per cent beng The
remaining third, subscribed under the act OF April the 2Vi
1892, and redeemahle in 1898.
IL The sum OF S2,227 1868 @, at ~ per cent, beng
one half of the subscribed in exchange for SIX e
cent stock of 1875 under the act OF May the 2o 1924
and redeemabc in 1858
ID. The sum of So 227 1868 3d. at AZ per cent, being
the other half subscribed under the act last above sacd
and redeemable ~ 1854
l3 The SUN Of 81 735 200 so, at FIVE per cent being
The amount Of stock issued under the act oi Msch Tue 3D.
1921, and redeemable in 1855.
by the foregoing enumeration il appears, that the
amount Of debt redeemabe at The periods speched rs
That the amount redecmable at the plea
sure Of the Government is <o,29o247 ~
Making the total amount of The funded debt
on The LIST Of 0c,uber, 1926, 75,92515l AZ
This amount will be reduced by payment be made
the first Of January 1927 to stand that day
1890 8t4 76
The anount Of Treasury Notes outstanding the first
Of October, 1926 estimated no D. SIS 0l0 and
the amount # Mississippi Stock unredteme on that day,
Including awards not applied for (No s. At N,Soo IL
It will next be proper TO state the operations that
have been had 10 relation TO the debt since the last
annual report from this Department. 10 that &c
port was stated, tina; the unpaid loans OF Isl 8,
bearing an interest Of six per cent, announced 10
The sum Of ,270,797 "a, the whole Of which
was redee enable in 1896 II was thought TO be in
cumbent upon the Dc department., to recommend to he
1nsideraon Of Congress such provision for paying
SIT this SUN during the year $40. as 10 the ludg
meni OF the Department, gave promise OF being
most advantageous The exhibition in detail Of
the entire public debt, contained above, serves
TO show, that considerable savings in interest had
heretofore accrued to The nation by exchanges e
feced under the autl GRITTY OF Congress. Of stock
bearing interest Of six per cent, tor stock bear
ing lower interest; or by loans, under the same
authority, for the purpose Of paying 81 portions OF
The debt contracted at six per cent when The time
Tor redemption had arrived, by the creation o. me-
debt TO the same amount, subject 10 en- interest Of
less than six per cent Undc the san tim oil pas
legislative appreciation OF this economical process in
relation the debt, it recou,ms nded that loan
should he authorized for 1926, 10 the amonnt Of
nine millions Of dollars, redeemable IN 1929 and
$780, al rate of interest not exceeding five pei
cent 10 extinguish this debt Of sixteen millions and
upwards, bearing an Interest OF six per cent which
the Gosernment was thus at liberty to extnpuish
il 1926 provided i, had the means. Nine millions
II was believed, you'd have iorn.ed sum adequate
10 this operation, 10 conjunction with the other
means which it was supposed the Treasury would
probably have had at command Tor the service OF
the debt 10 SEQ There is reason TO think, from
the prices which the public stocks bore in the
Of the last Winter, and subsequently to the Winter
that, had Congress sanctioned loan to that amount
the efo IS TO obtain il would no. have proved
cessfui, and the whole OF the stock 10 question have
consequently been paid off. But as no loan was au-
fhorized, It became the duty Of the Department to
proceed otherwise 10 its measures for exliDguishing
sc large portion OF this six per cent. stock re
deemahle within the year, as the means OF the Irea
sury, without the AID oil the oan rendered practica
Bile. Thi, was accordingly done, in the manner fol
lowing The stock consisted Of the residue unpaid
amounting to 85,064.752 IS. Of he loan Of sever
million Ave hundred thousand dollars, under the ac
Of the Cd Of August 1918 and Of the residue un
paid, amounting to 8lI 254, 10y 46 OF the loan o.
sixteen millions under the ac OF February the 9th
1919. The former Of these balances was wholly
paid OF with the moneys which the Treasury hat
ct its disposal the first Of last July. AS regards