Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1827-12-15

ceriihc.te- of stock issued to the amount of
is'!u9 317 4S, premium having been given to the
'enuefr. VI tbis amount there remain unpaid, az
abnve, 4,24+,5s7 OF.
The sum of is ,096542 90, at six per cent,
being the residue unpaid of loans made under the
act OF the 2tth of March. 1914, and redsernable
IN IS2I The amount authorized by this act was
twenty-five millions. OF this amount there was
BORROWED under loans contracted in 1915 the rum
OF 12,9i2,42S &c For this sum oert,fica,es of
Stock, issued to The amount of 10 loS,ol4 43 un,
der pre- un to the lenders as above, of which
'here remain unpaid of the loan contracted the
-econd OF May, in that year, 80. sos 90; of
'hai contracted the S2nd OF August 4 ESQ.,
$50 77--and OF other smaller losns contracted I'M
der The act IN the OF the same year, 537,>
eSo ~, making IN the whole. 1896 .542 90, as
hrs above stated.
3 The sum of $4,000 9e 10, at six per cent,
oeins The reside unpaid of be loan under the act
ot the 81 OF March, 1915, and redee1nabe in
1873 Ths act authorized loan of eighteen mil
Mons four hundred and 6iiy-tvvo thousand eight
hundred dollars. There was borrowed under it
me sum OF II ,t99326 SO, principally by the fund.-
! ing OF Treasury Notes and Certificate of Stock
issued 10 the amour, of IL, 2sS ,I47 so, of which
here remained unpaid. above 9,190, coz 10
j The sum of 7G6 66S 0S, at an interest of
iour ana bali per cent, being one-half of The
SIX per cent stock of 1913, exchanged under the
act OF Congress OF the Sd OF March, 1925, and
redeemsb!e in 1899.
The sum OF 769 Cog 0s, a. an interest of
tour end hall per cent. beng The other half of
me SIX per CEN. stock exchanged above, and
FedeeIusble IN 1890.
The sum OF IS ,90l So At five per cent, be-
ing one third part of the of 56,704 IL issued
IN exchange for six per stock of 1918, 1914,
and iolo, under the act Of the goth oil A pill 1922
and redeeDable in 1881
The sum OF 49, 9I So, at FIVE per cent, be
ing one other third part OF The sum subscribed az
above stated, and reieemable in 1892
6 The sum of 0On O00 =, eo,,. LIS
per cent being stock created under the acts of the
2i'h aud 26th of May 1921, for sums borrowed OF
the B8nk of the United States, one-haif 10 pay
the Florida claims the other half 10 pay of the
i lss s'' cent stock of 1912 and Fedsem'bl' in
The sum of 999.999 13, at FIVE per cent, be-
ing stock created by the act OF the B5th of May,
| 1920 aud redeemsble in 1892
l0 The sum of 1901 SO, at five per cent, be
log the remaining third subscribed under the act of
the 2Oth OF April, 1922, and IedeemabIe in 1893.
III The sum OF 227 1868 81, at four and a
haii per cent, being one-balf OF the amount sub
scrbed in exchange for six per cent stock OF 1873,
under the act of the 10Th oil May, 1924. and lie.
deeInahle in 1893
| II The sum of 2227 1863 os. a, four and
1 NAH per cent, being the o'her half subscribed un.
der the act lasl above stated aud redeemsble in
1884
! ID The sum of4.735 POS so, at f7e Per cent
beng the an cunt OF stock issued under the act
OF the 81 oi March, 1921, and redeemable in 1925.
! Inc foregoing enumeration gives the aggregate
.54I 0s, stated as the amount Of The debt
| on the first of October last.
w THIS aggregate, 1t may not be improper here
to state that 40 Q0l ,2i5 SO are owned BY the u.
States, and 1922 325 - by foreigners
a payment being about TO be made on account
oil the principal of the debt the close of the pre-
sent year, in addition to thu, was made in Ju-
~, It's total aggregate amount on the first of ia
nuary, 1928, VIII be 81 4l3, 377 81.
10 make Mp this aggregate, all the items ex.
hlohed IN the foregoing view of the whole sbt
are included. But the whole together gives the
nominal, rather than the real, amount Of The debt
lis real amount, on the first of January, 1928,
p VIII be blt fraction above sixty millions Tn.
{ sum OF seven millions subscribed by the Govern,
? ment to The Bank OF The United States, liz, in
elect destroyed a. debt, by the United States ov-
ing an equal amount in the shares OF the Bank
80 lar IS this sum from being any charge upon the
treasury, that the Treasury is annually receiving
Interest Toe a, IN the dividends upon the shares
whenever the latter sold they may AT least, be
eXPvc'edt TO replace the sum that was Invested
IN them. The old Revolutionary Der cents. too.
nave now existed nearly forty years By the rro-
visions OF The Sinking Fund act, this stock can ON
: " be bought up * exiingushed by the Government
when the price shsll fail 10 sxiy-five doIIars- for
every one hundred dollars. This, in all prob,bi-
2 NY WIil prevent Tor some time come The H.
ZJo,Z47 ~, Of which this stock consists being
lar AZ paying OF the principal is concerned. as il
: would he dihcpt TO say when the Obligation To
- pay u OH viii attach under the above sc, ~,
g "hen u could Otherwise be done with ron advsa
. 'sge TO The public. 1t IL many wears since mi
stock las been as low As sixtysfve dollars 10,
one hundred and there is no present p1ospect of
d us falling 20 low. The por icns OF the leh,
therefore, which, under the existing snsctrpeot- Of
vac law, can alone he met by an annual and ascer.
n 'sihed process OF etingusbDeHt unless the three
per cents should be psii Of al one bundled. can
q not oe computed at more than Al ,II7IsO %
II - plain that THE amount Is rapidy basts,,,, ~,
e1'ingulshmsai ITihe United States cort.n,ss =,
peace and there IS happily, no present pfosp,c,
OF Iis Interruption their debt mus, in few ve.r
more dlsappenr. The new Obligations which xvi n
r. nsFolye upon tue National Councils, in reference
10 me Feeiniary resources Of the country, yyh,n
c 'osf'ted from large annual payments on sccoun,
o o. me oebi lbe visions Of hose Councils will. al
= fths proper season, know how 10 estimate.
81 ~ remains 10 make known, in conclusion. un d.
e Der tbs head, the operations had AZ the Tcsgrry
b. upon the public debt since the adjournment of The
e iaat res-'oa Of Congress
= ln The last Annual Report from this Depsr,-
e Tneni, loan 20 The amount Of sixteen millions, II
an lntele not 70 exceed five per cent was recon
II mendsd' The Object Of such a osn was 20 nav
Oh portion Of The debt eqqsi 10 rix,een millions
ID uearing an interest Fl six per cent. No tsvy ~
II 'his Effect having passed, 1t became the in,v "A
" ihe Department 90 proceed in The work Of rsv,ne
OF The slx per cents az fsr ~ the mean. III fl,.
treasury VIII allow. Accordingly. ON "a. Co.
IS OF 5aiy, be sum OF s07 SOB GS was paii on sc
D. count OF the TX per cent loan created Wv The aci
u ~ We sih OF February, 1919 By The decision oil
N ne u nmissioacs % The sinking Fond, No. stp,..
% !, vas a&ieei 'hai Tie lufiher sum of 1900 coo