Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-05

provide a method of payment, to the
| end. as already suggested, that pay
ment may certainly be made and at the
place already designated. and particu-
1arly that payment may be made when
| due. an always possible condition with
| the United States. but not SO with the
District when time of payment of taxes
| is considered. But finally is this sug-
gestion. a consideration of Importance
in determining why this clause was in
| serted as it was and where 1t was.
| consideration not apparent from the
| clause itself and involving the rules OF
construction in the light of the con-
| text.
Section 4, containing this clause, after
some provisions with reference to the
| time of payment of taxes, provides LOT
| the payment into the Treasury of the
| United States of all taxes collected, and
then, treating of disbursement. provides
| that these taxes as well as the appro-
| priations to be made by Congress as
| aforesaid shall be disbursed on vouchers
audited and approved by the auditor OF
| the District, and Certified by the Com
missioners, and this provision in TINS
section as to the method of dlsburslns all
these revenues, taxes and appropriations
by Congress- as aforesaid. combined, IS
the strongest apparent reason TOR the ap-
pearance of the provision in question III
this same section. and its object was 10
take the payment of interest on these
bonds out of the provision for dlspufse-
empower the Secretary of the treasury
to make these interest payments, WIN
out vouchers when due, and TOT the
certain accomplishment of the OBJECTS
above stated.
As to a Sinking Fund.
1T will be observed that the question
has been treated thus far with reference
to interest alone. and that sinking fund
for the payment of the principal OF the
bonds has not been considered. This
course has been taken thus far not be-
cause the question of the payment of
the bonds has escaped attention. but be-
cause some things bearing on the queS-
ton in hand have been said in legislation
about interest which have not been sad
about sinking fund or payment of prin-
cipal.
'.rrhe pledge of the United States with
reference to these bonds, in section Z of
the act of 1874, was to provide the reve-
nues by the methods stated, to pay the
interest and create a sinking fun6 for
the payment of the principal thereof at
maturity pledge which provided as
fully for the creation of a sinking fund
as for the payment of interest and by
the same methods, supported by the
same pledged faith.
There was no provision in the or
ganic act of June II. 1873, referring. in
TERMS to a sinking fund for the payment
of the principal of these bonds. All that
is said above, however, with reference TO
the nonability of the District to pay the
interest on these bonds under the pro-
visions of this act, If not included In the
approved estimates. applies with equal
force to the payment of the principal
The only declaration in the interim
between these acts as to the principal
of these bonds on the part of any one
having directly to do with legislation is
no fprcihle ton
of President Grant. quoted above, with
reference to the contemplated apportion-
ment of principal and interest of the $50
bonds, and his statement that In COM
putting with precision the oonded debt of
the District the aggregate sums stated
above should be reduced to
the extent of the amount to be appor-
toned to the United States government,
the aggregate sums mentioned being
aggregate of principal.
Not a Full Appropriation.
The sundry civil bill of June 20, 1878
nine days after the passage of the or
sanic act, appropriating for the fiscal
year ending June 80. 1879, appropriates
S1,25o,ooo on the basis of estimates made
before the passage of the organic act,
not in full of. but to be credited to the
United States on its proportion of the
expense of the District of Columbia for
the fiscal year ending June 80, 1879,
under the act approved June H. 1878.
and authorized the Secretary of the
Treasury to advance, from this sum, to
the Commissioners of the District, from
time to time, such sums as may be
| necessary to carry on the government
of said District, including accruing inter-
est on the bonds Of the District
This appropriation was augmented for
that year by $466 5::3;.23 carried in a de-
ficiency bill of March 3. 1879. with decla-
rations III connection Herewith not so
material as the date, except that the ag-
Sregate of the two amounts is said to be
30 per centum of the expenses of the gov
eminent of the District of Columbia for
the fiscal year. There was nothing in
either of these acts providing one-half
OF the necessary revenues for the fiscal
year 1879 about sinking fund. but there
was contemporaneous and to an extent.
coordinate legislation on the subject.
The first direct declaration of Congress
on the question of sinking fund to meet
the principal of these bonds after the
pledsinS clause Of the act of 1874, is
found in the sundry civil act of March
), 1879 60 Statutes, 377, tD3-410. This
act precedes in the publication the de-
ficiency act of the same date referred to-,
but they seem to have been approved on
the same day, and which was first APP
proved is not very material Which re-
ceived The attention of Congress first
might be,
Voted fol- Sinking Fund
at is noticeable that preceding the
clause in the nature of permanent legis-
lation- to IA sinking fund the sundry
civil act appropriates 81 6322. O9S IS for the
purpose of paying 'one-half of the es-
timated expenses of the government of
the District of Columbia for the fiscal
year ending June 30, 1880, namely,
=. 3 For the interest and sinking fund
on the funded debt = = The meaning of
namely is well understood, and no doubt
brings interest and sinking fund within
the scope of estimated expenses
| My attention is directed to the as
stunned fact. said to be significant, that
in all the enumerationS in this act (fol-
lowing namely to be paid from the
1amount appropriated although covering
seven pages. there is no mention of in
terest on the three-SiXty-five bonds or
of the bonds themselves in any way. l
| don't know whether the clause on page
40 designating 81, 1855 of the sum
appropriated for interest and sinking
| fund on the funded debt was over
looked, or whether it was assumed that
| the three-sixty-five bonds were not a
part of. the funded debt referred to-
| They We're, in fact, a part of the funded
| debt then as well as now.
| "In view of the relation between this
| provision of this act and the provision
next for consideration, glance at
some figures and a determination of