National Republican. (Washington City (D.C.)) 1872-1888, 1874-08-05
pEBT oF TRR DLsrRfoT
IT'S CHARACTER, RATE. OF INTEREST,
AMOUNT. AND WHEN PLYARIE

/ lis OdAhACIEh, fRAIE. OF INTEREST
AMOUNT, AND WHEN PAYABLE.
As one Of the most Important pieces Of in
formation tocitzens Of this District just at pres
ent, is the amount, character, rate Of interest
and value Of each class Of securities now out
standing, no apology need be made for placing
before them the following statement compiled
nom publication recently Issued BY Judg
VIM. A. Richardson, late Secretary Of ii,
Treasury. twill be observed that our Indebted
ness e divided into twenty-six different classes
including that Of the old corporations and th,
new three-sixty-Hve bonds to be issued by thu
Commissioners Of the Sinking Fund. Judg,
Richardson holds that the faith Of the Unitet
States Is virtually pledged for the payment o
the whole sum Of this indebtedness because thai
the Constitution In clause n, section 8, article
l, confers upon Congress the power t'to exercise
exclusive legislation IN all cases whatsoever
over such District, mot exceeding ten mile.
square, as may, BY cession Of particular States
and the acceptance OF Congress, become the
seat Of government Of the United States"
de says also that "fais Territory was ceded
70 the United States for that purpose, and
neither the people residing therein nor the
states have any control over the same, except
such as may be authorized by Congress"
And quotes from the report of the Judiciary
Committee Of the House Of Representatives OF
the korty-third Congress the following:
an strict legal sense, there Gan be said to be no
such thing a. local government OF the District
Of Columbia for there can be no government within
me district independent Of that Of the Federal
government; and whatever local authority there
may De now existing. or which may be hereafter
set up within the District It can only be regard Cd
legally e an agency o. the Federal Government;
and whatever authority this local government
may exercise Il must be reg ed as the act OF the
tive" -
The people can neither create debts nor raise
money by taxation to carry on government
therein Of any kind, nor to pay outstanding OBJ
legations, unless first authorized by Congress
to form government.
The debts hereinafter described have all been
created under local governments, set up and
organized by Congress, acting according to the
report Of the Judiciary Committee above re-
ferred 70, as to "agents Of the Federal Govern
ment, and such obligations must be regarded
as the Facts Of the United States through their
delegated representatives"
The aggregate sum Of these several classes
OF Indebtedness is $50, 710, 673 81. It will be
observed that the amount Of the guaranteed
bond" (class s, As the three sixty-fyes are
styled, IS also are classes "a and 49, Upon the
hypothesis that the United States Government
is responsible for the payment of both principal
and interest, these securities are among the
best in the market.
Disirief Of Columbia.
1. Permanent Improvement, (sixes.) sLOoo,OOO
SIX per cent. coin interest," payable July l, 1881.
Permanent improvement, or eighteen years.
bonds, (seTens,) $3.50 000 seven per cent CURRENCY
interest, payable Julyi, 1871.
8 Permanent Improvement or eighteen years'
bonds, lsevensl $3.50 900, seven per cent currency
interest, payable July l. 1891
{. Water itoqk bonds ii is71, ssso,oOO, seven per
cent; currency interest. payable October /, 1901.
cent currency interest payable October /, 1905.
.. MAJ ket stock bonds, fl52 l00 seven per cent
currency interest, PayAbls July ., 1921
currency interest, payable January /, ISL.
s, Guaranteed bonds UNITED Statssl eStImn-
ted, 5000 600, eSloo per cent currency interest,
q Funding loan bonds, tCOngrsss,) t1,1so,oOo,
SIX per cent. coin interest, payable July /. 1892
b. OonSress June 20 sS go VT nsr nsnt
,oin Interest, payable November !, Is82.
II. County school bonds, sIs,TO0, seven per cent
'urrency interest," payable July 1874, rs, 70, NJ
Y. Georgetown steam fOree-pump bonds, $500,
!, 1879. =
CITY Of WashingiOn.
Is. Five per cent. stock, t5l, sol, i've per cent.
'1rreSey interest, payable at pleasure.
currency interest, payable At pleasure.
Is. Chesapeake and Ohio canal stock A4s 500
u per cent currency interest, payable at pleas
10 wGter gtoOk. tos,ssO, SIX per cent. currency
interest, payable Al, pleasure.
~ Ten years bonds, or Bowen bonds, S35l, 400.
1879.
IS Three years certificates or Emery bonds
!, Sso, seven and three tenths per cent. currency
interest,", matured.
y. Five years certificates, or Emery bonds,
~ 80, seven and three tenths per cent currency
interest, payable NoYember %, ISIS.
City Of Georgetown.
20. SIX per cent. general stock sis2 SIS, zig per
ent- currency interest, payable at pleasure
Il Eight per cent. general stock, S20, 0OO eight
er cent currency interest. payable July l. 1851 |
n Six per cent. bounty stock e2o,000 slx Der |
ent currency interest, payable Sept. ~ 1854
3 Six per cent market stock, ESQ S0A ~ stx per
GnL currency interest, payable at pleasure.
Total bonded debt, s11,VaLoT3.2L
sTtlaestSs PGys6ls out Of tpseiaf assessmsrf on |
property Benefited.
=. General Improvement certificates, commonly
Alled "Rreenbaeks," about q, $50 900, eight Der
mt currency interest," payable July !, lsf4, 1875,
%. Water certificates, tlss, OOO eight per cent.
iIreney interest payable July i, 1871
.. SeWe- certthcates, about 81 100 O0o eight per
Te, 1877, 1873.