The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-03-08

EST ON - Foa THE PaYArst or tyfsn.
bill I ,.ds ,PuaLic DgBr.--tlie following
or . provide for the payment Of interest
tfhs public debt passed the House Of De.
( Ngaees yesterday. The bill had previously
Passed the Senate, and no# awaits e,.s action
Of The Governor:
| q: Be 1t ,esdessaa by the Genera, Assem-.
oty: That II shall be the duty Of tho Auditor
OF tabllc Accounts TO pay into the public
| treasury, subject" to the warrant of the Sc
cond Auditor, so much Of the public revenue
rs the second Auditor may certify to be ne.
ccssarg to pay the interest on the public debt
| as herein provided.
80. There shall be paid when demanded
AFTER the passage Of this act. and ON the firsf
cay OF july, eighteen hundred and seventy.
| three, TWO per centum interest upon the
principal of the public debt, bearing an In.
| tcresf OF SIX per contum per aiinum as eyi.
dcnced by bonds issued under the provisions
Of the act approved March the thirtietb.
eighteen hundred and seyenty-one: and upon
that part Of the public debt bearing an in
tcrcSt OF five per cent. there shall be paid at
The same times one and two-thrds per cent,
and upon two-thirds of the debt, the sccuris
Ties representing which have not been
changed since the thirtieth day of March.
eighteen hundred and seventy-one there
shah be paid 4 like interest. Provided, that
the interest herein directed to be paid, ex-
cept rs hereinafter provided, shall be limited
10 interest falling due in the year 1873.
"3. Upon the payment into the Treasury of
the interest falling due on the 1st January,
1875 rs hercinhetore provided, it shall be the
duty 'of The Auditor of Public Accounts,
the Second Auditor, and Treasurer who are
hereby constituted Board for that purpose,
| to rs certain and determine, having regard to
the surplus in the Treasury, the accruing
revenues as well as the demands against the
Treasury for interest payable on the list
July, 1878. and the amount necessary for the
support of government what amount may
be paid upon the unpaid Interest falling due
lst January, 1872, and 1>t July, 1872. Aud
after they have SO asccrtaned and deter
mined it shal! be the duty Of the Auditor of
Public Accounts to pay said amount into the
Treasury, subject to the warrant OF the Sc
cond Auditor, and tho same shall be paid in
accordance with the provisions of this act;
the amounts hercinbefore provided being all
the Commonwealth is able to pay at this
time.
~. 1t shall be the duty of the Second
Auditor. upon the payment Of the interest
hercin provided for to the creditors of the
state, to Issue and deliver TO such creditors
non-intcrcst bearing certificates tor thlt por-
ton of the interest due and remaining IN.
paid; and where interest shall lie p'' ,,,,a
certificates given for interest due = 49,, ".' gu"
pom bonds it shall be the duty &C. w. 80 So,,a rV
Auditor TO take in, cancel, ,d eio ,r ,sua ~,
his Office the intercsscou ,o,S NV - u n,od 10y ~
deemed. 4oHs ~ iHHu or Ic-
Audi,or nn"n eha duty OF the Second
tho Stato ~ 1ceuest OF Such creditors of
tnro.t mnr AVE received 0r may receive in
or ,b;s 10 their debts under the provisions
Ie-a "ci and the act in force March 10Th,
=, entitled an act to praVile,for the pay
Acnt of interest on the public debt, to issue
( and deliver tn them interest certificates. in
! accordance with the provisions cf this act,
| for such portions of tho Interest due and
. withheld on the ut days of JANUARY and
July, 1875 and when such certificates shall
| be demanded for unpaid interest upon cou-
! pom bonds it shall be the duty of the Second
! Auditor 10 receive. cancel; aid file away in
his office the interest coupons so paid and
redeemed,
"6. Every interest certificate issued BY
| authority Of this act shall state upon its face
! the kind Of bond upon which the interest
! accrued aud the time it wis uue and pay-
able, for which such certificate is given aud
every Interest certificate issued by authority
of this act shall, in the case Of coupons, be
payable to bearer, and OH registered stock
to bearer or order, at the option Of the
holder.
~. This act shall be i'm force from its
pasSagc.'