American watchman and Delaware advertiser. [volume] (Wilmington, Del.) 1822-1828, 1827-12-14

the Bank Of the United States. il, in q,
ed as debt, by the United States owu;,r !. m'ss
amount IN tie shares ot the Bank 81 r., r..
sum from being any charge npon the rleasu,, ~ l'
the Treasury Is annually receiving ipter.,, l w.
in the dividends upon the shares. Whence. Z
latter are sold. they may. at least. b.. e,n..,a,
replace the sum that was invested II them :, "
old Revolutionary three per cents. too. h.yo
existed nearly forty yeats. by the pro,.io,s
Inc sinking innd act, this stock can onl, be bnuah,
up and eAsn.ushrd by the Government. wLsn
the price Shall TAU 10 sixty five dollars for eyern
one hundred dollars. This, in all prolabIIitv ~,
prevent for some time to come, tie Sls o9G y S :.
TO- OF which this stock consists. being any cl,,.
upon the ,csonrces Of the nation, SO far Al na =
nS on the principal is concerned, as It want,
be difficult to say when the obligation to nav I ~
VIII attach under the above act or when if couli
otherwise be done with full advantage TO the mi
c. 1t 10 many years since this stock has beeo =
low as sixty.bve dollars for one hundred ~ ~
there IS 10 present prospect Of its falling 50 Inv
The portions Of the debt, therefore, which. unJe,
the eNistins enactnents OF the law, can alone il,
met by an annual and ascertained process of o..
tlnsu>hment, unless the three per cents. should m
paid oil at one hundred. cannot be connuted =
more than 81 also %. 1t is PLAN that III,
amount is ra1i'lly Fastening to eNtinyuishment
1t the United States continue at peace, and there
is happily no present prospect Of its intclrupoo
their debt must. IN lew years MORE dsappear
The new obligations which will devolye unon tl1
National Councils, in reference to the pccrn,a,y
resources oi the country when liberated from larsc
annual payments on account of tile debt, the vi.
dom Of those councils will, at tie proper season
Know how to estimate.
1t remains to make known, in conclusion, unle
this head, the operations had at tile Treasury uuo.
the public debt since the adjournment Of the as
session Of Congress.
In the last Annual Report from this Department
loan to the amount Of sixteen millions, at an in
tcrest not to exceed five per cent was recommen
dcd The object OF such loan was to paw oil a
portion Of the debt equal to sixteen millions. bear.
ing an interest of six per cent. No law to mi,
effect having passed, it became the duty Of the De.
partment to proceed in the work of paying oil ,ie
SIX per cents. a, far as the means OF the Treasury
would allow. Accordingly, OH the first OF July.
the sum Of $500 sos 6s was paid on account Of
the SIX per cent. loan created by the act Of the 8
February. 1916. BY thc decision Of the Commits.
soners d the Sinking Fund, in September it was
agreed that the ntthrr sum Of Sl.560000 should
nation Ct tie present quarter Of TINS year. Pub
&c notices have been issued in conto mty with this
declslnn. and are now outstanding. a small fac.
ton over the sum is included III tie notice the
terms of,le loan having rendered il necessary that
the certificates ID be paid of should be fixed upon
by lot and the last drawn Number in this instance
as in the payment of Julv, having given Tie flac
tiona excess. The manner Of drawing the o
having been infinitely described III a paper anneScd
to the last Annual Report, will not here be repeat
ed In deciding upon the further payment Of
Sl ,3O0.00O, the commissioners had due reference
to the 4th section d the Sinking Fund act, Of March
the Sd, 1917, which declares that, "whenever
there shall be, at amy Time after an adjournment Of
Congress. IN any year, a surplus oi money n ths
Treasury, above the sums appropriated tor The sr
vice OF such year, the pay mcnt OF which 70 the
Commissioners 81 the sinking Fund vii vt leave
IN the Treasury, al the end OF the year. balance
equal to two millions Of dollars tlicn such Surplus
slal be, and the same Is hereby, appropriated y
the Sinking Fund, to be paid at such times a. thc
situation Of the Treasury will best permit Eut
this provision was not viewed creating any OBJ
.taclc to tie decision. The construction and rrae-
tcc Of the Treasury, since the passage Of the act
nave invariably been, nnt to consider the abl'a
provision as attaching, 50 long as any part q tts
ten millions remain pnappied to the debt; W.
sum being Considered, under the very ohert ana
terms Of the act, as standing appropriation ~
the service Of tile year.
No further remarks are deemed necessary at ths
time IN relation to the public debt. Should tde
laws respecting 1t remain unchanged, payments "
account Of the principal will continue 10 be made,
Throughout the ensuing year, n such ways a, TIE
obligations Of the laws direct. and III. means Of
the Treasury may best allow.
PUBLIC REYENtE AND EXPENDITURE OF The
YEARS 1926 AND 1927.
The net revenue which accrued from dir
ties on imports and tonnage, dnrng The
year 1896 amounted (S,atemrnt A. 10 SO ?48054 %
-----------------------
The actual receipts into The Tress4ry
RON I'll sonices, daring - year 1896,
25,260.43 q
Customs. fsta,cmetA) 2s,s4i,s5l ~
Public Lands, Statement
~ 1906, 7s5 o.