Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1827-12-29

are oil course, again TO be ranked as part OF
the debt 1T follows, that debt in six ner cent stock
| 10 the amount of sixteen millions two hundred and
nnety-seven thousand two hundred and ten dollars
ninety three cents will have been absolutely extn-
guished in the of these three years by the sur
plus moneys of the Treasury, in addition TO q 863
4l5 90 paid interest 1t also follows, that twenty
one millions sixty-two thousand three hundred ana
thiTty-wo dollars seventeen cents, in principal and in
interest," will have been applied to the nublic deht dn
ring the 1926 and 227 out of the means of the
Treasury, without any assistance whatever from loaus
This an amount greater than required To be sp-
Ped TO for these two years by The obligations OF tic
Sinking Fund act
II will be satisfactory congress to know that du.
ring the three question: besides these payments
made on account OF the debt and all other payments to
meet The annual eSpence OF Government large sums
nave been applied TO Objects wearing characi Ter nei-
.Aer temporary nor annual BY these meant, To-
tefhal improvements III tue form OF subscriptions TO
Ianas and appropriations for otherwise opening and
extending intercourse througho tue oounry Enrii
cations and Armnres; Ships of War Naval Docks and
oier establishments connected with the Navy; public
ed'ices OF various descriptions whether for purpose.
MARINE or civil; arming the Militia; the purchase of
nus from The lndians a'i other expenses belonging To
Ia department OF the public service. On such objects
antt others kindred 10 them, the expenditures durinr
these three years, have reached little short OF
Twelve millions OF dollars nation, that after prov.
Ding Tor the regular support OF Gov ernmeu is seen
10 proceed IN this manner the PAYMENT of IFS publ:
deOt, and in additional disbursements so considerable
Tor which equivalents remain that Cor the most part
are OF permanent value 10 the nation, cannot be rerar
ded as other than prosperous in its financial condition
That the exact situation of the whole funded debt oe
nis time may be SEEM the several parts which con-
sss w be distinctly set forth, for the full information
of congress.
lis total amount, on Tie first of October last was.
statement no SGa,9l5,54l 08. This sum comprcS
hepds the old revolutionary three Der cents ,nount;rrr
10 jl",23U247 70, redeenable at The pleasure of the
Government; and the seven millions subscribed to the
sank OF the United States, also edeelnable at The plea
sure OF the Gov
The residue of the debt was contracted ,r,er tho
mencemen of the of 1872 and consists of yarious
loans and stocks, created and redeemabe al periods sc
follow: -
l. The sum of 81 o44, soy o. at six per cent he;oa
the residue unpaid of the loan under the act of The sh
OF February 1918 and redeemable in 1896. The a.
mount authorized to be borrowed under this act was
sixteen millions For this sum, certificates of stock.
issued TO the amount OF Sl8, lO9,377 10 a premium
, having been given 10 the lenders OF this amount,
mere remain unpaid, as above, 4.2I1 ,587 07.
= The sum of $4,000, 542 90, at six per cent be-r
nag me residue unpaid of loans made under the act o.
the 2fth of March, 1914 and rcdeemable in 1877 The
amount authorised by this act twenty five millions
VI This amount, there borrowed under loans cor,
racted in 1914, the sum of Sl2 423 GO Nor fh;
sum certificates of stock issued TO the amount 81
SioiO3,ol4 AZ, under premium TO the lenders As p.
noVe. o. WHICH there rerna in unpaid, of the Loan
uaclel on thc second of Nav that year g. SO7 86a
~ o! That contracted on The 22d of gust O5o $50
. ana OF oer smaller loans contracted under the act
IN the course OF the same year, S537.a95 ~ making,
IN the Whole i3. 096,542 go 'as first above slated
3. The sum OF S9,490099 10, at six per cent beiur
'ne Fe7'Guc unpaid o! the loan under the act of the 81
u ach' 1919, ana rcdeenable IN 1928. This act aIf.-
thorIzed loan Of eighteen million four hundred and fT.
ty-two thousand eight hundred dollars There was
borrowed under IT. the sum OF SII 600 SEQ 63 prncf
paiiy by the Funding of Treasury Notes and oertif>
cafes OF stock issued to the of 298 147 56
OF winch tbcfe remain unpa as above % 400 900 O.
d The sum o. S76o65s o. at interest of four and
nan per cent being one half OF the s per cent stoc
OF t"i5 exchanged under the of coneress OF ,Tre
81 OF March, 1925, and redeemabe in 1929
8. The sum of 7G96G8 0G, an interest of four AMI
",l per cent oeng The other half of the six per
stock exchanged as above and redeemable in 1880
g. The sum of Sl8,901 So at five per cent heuo,
one third part of The Of $50, 7o4 H. issued in ex
change Tor SIX per cent stock OF 1913 1914 and 1915
under the act OF the 2oth of April 1892 aud edeeus
bic in S31
T. The sum Of $1,000 50, a; five per cent. being,
one other hird part of the sum- subscribed as above
stated, and redcemable in 1882
8. The sum of $40 900 600 at four and = half EsA
cent, being stock created under The acts of The 9th
and 26th OF May 1924 for borrowed of the Bank
OF The . States one half TO pay the Florida claims tho
and redeemabie in 1882
| ., The sum of S999,o99 49, at FIVE per cent beioe.
stock created by the act of the 9Th of May 1920 an.
redeemable in 1882.
! 10. The sum of S1S901 50, at five pcr cent. beuo
the remaining third subscribed under the act of the
2Oh Of April, 1929; and redeemable in 1888.
H. Tue sum OF g, 2273 1868 o. at four and half pep
cert being one half Of the subscribed in ex-
Change lor SIX per cent stock Of 1913, under the act
! OF me %n'h OF "iay. 1924 and redeemabie in 1888
~ The sum Of So 227 363 o. four and half per
cent being the other bali snbsc ibed under the ACT
last above stated, and rfdeemahle in 1884
10 The SUN Of s i1352Q6 So at five per cent be-
mg ne amount OF stock issncd under u G act OF the Sd
O hjatch 1921, and reicemable IN 1885
~ e FOREGOING enumeration gives the aggregate Of
S6G@3 sd o. stated the amour. of the debf ON tbo
ist Of October last. 'N
o. IBIS aggregate it ray be improper here to
state !a Sl900l 2f5 &c. ned in tbe H. State
and Sl09 II, by foreigners.
pay mem beng about 10 be made account Of tho
principal Of the d. at The close of lie present 90,
10 addioD 10 one Dat was made in July total snpte
gate amount on The first of January, 1928, viii he
S67,4l3.377 %. "'' oe'
70 make mp this aggregate, all The items exb;b,,oi
N ihe foregoing view OF the Whole debt are ncIndcd
Du The Who' together, gives the nominal raher han
cue e"I amount OF The debt It's real amount on the
hT9 Of January 1923, will De but fraction above sx
- lions The sum Of seven million subscribed bv lie