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How long charged with the same appropriations as if this this act is to continue, act had not passed; and that this act shall con
tinue in force, until the first day of March, one thousand eight hundred and one. FREDERICK AUGUSTUS MUHLENBERG,
Speaker of the House of Representatives. HENRY TAZEWELL, President of the
Senate pro tempore. APPROVED, March the third, 1795:
President of the United States.
CH A P TER CIX.
litary Establishment of the United States, and
of public Credit, and for the Redemption of
D E it'enacted by the Senate and tommilli. Sec. 1. B House of Representatives of the oners of the linking United States of America, in Congress assembled, fund may That it shall be lawful for the commissioners
of the sinking fund, and they are hereby empowered, with the approbation of the President of the United States, to borrow, or cause to be borrowed, from time to time, such sums,
in anticipation of the revenues appropriated, . not exceeding, in one year, one million of dollars, to be reimbursed within a year from the time of each loan, as may be necessary for the payment of the interest which shall annually Provision accrue on the public debt; and for the payment opole ment of the interest on any such temporary i
Wpus such borloan, which shall not exceed fix per centum rowing. per annum, so much of the proceeds of the duties on goods, wares and merchandize imported, on the tonnage of ships or vessels, and upon fpirits distilled within the United States, and stills, as may be necessary, fhall be and are hereby appropriated.
Sec. 2. And be it further enacted, That a Loan to be loan be opened at the treasury, to the full opened to amount of the present foreign debt, to conti- amount of nue open until the last day of December, in the foreign
* dubt, the year one thousand seven hundred and ninety-fix, and that the sums, which may be subfcribed to the said loan, shall be payable and receivable, by way of exchange, in equal fums of the principal of the said foreign debt; end that any sum, so subscribed and paid, shall bear an interest equal to the rate of interest which is now payable on the principal of such part of the foreign debt, as shall be paid or exchanged therefor, together with an addition of one-half per centum per annum; the said interest to commence on the first day of January next succeeding the time of each subscription, and to be paid quarter-yearly, at the same periods, at which interest is now payable and paid upon the domestic funded debt: Provided, That the principal of the said loan may be reimbursed at any time, at the pleasure of the United States.
to the faid loan, together with such further sumis of the proceeds of the said duties, as may be necessary, shall be, and they are hereby pledged and appropriated, for the payment of the interest which shall be payable upon · the sums subscribed to the said loan, and shall continue so pledged and appropriated, until the principal of the said loan shall be fully reimbursed and redeemed: Provided always, Provifo. That nothing herein contained shall be construed to alter, change, or in any manner af, fect, the provisions heretofore made concern. ing the faid foreign debt, according to contract, either during the pendency of the said loan, or after the closing thereof; but every thing shall proceed, touching the faid debt, and every part thereof, in the same manner as if this act had never been passed, except as to such holders thereof, as may subscribe to the said loan, and from the time of the commencement thereof in each case, that is, when interest on any sum subscribed shall begin to accrue.
Sec. 6. And be it further enacted, That the Certain dia several and respective duties laid and contain- ties to co12
cinue to be ed in and by the act, intitled, “ An act iaying collected, additional duties on goods, wares and merchandize imported into the United States," passed the seventh day of June, one thousand seven hundred and ninety-four, ihall, together with the other duties heretofore charged with the payment of interest on the public debt, continue to be levied, collected and paid, until the whole of the capital or principal of the prefent debt of the United States, and future loans which may be made, pursuant to law, for the exchange, reimbursement or redemp. tion thereof, or of any part thereof, shall be