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imbursement or redemption, on the first day of January, in the year one thousand eight hundred and two; and also to cause to be applied all such surplus of the said fund, as may at any time exist, after satisfying the purposes a foresaid, towards the further and final redemption of the present debt of the United States, foreign and domestic, funded and unfunded, including loans for the reimbursement thereof, by payment or purchase, until the said debt shall be completely reimbursed or redeemed.
Sec. 12. Provided always, and be it further Commis fioners not enacted, That nothing in this act thall be conto pay more strued to veft in the Commissioners of the for the una funded (o- sinking fund, a right to pay, in the purchase. mestic dlebt, or discharge of the unfunded domestic debt than the market of the United States, a higher rate than the price of the market price or value of the funded debt of funded.
the United States : And provided also, That if after all the debts and loans aforesaid, now due, and that shall arise under this act, excepting the said debt or stork, bearing an interest of three per cent. fhall be fully paid
and discharged, any part of the principal of ment may the said debt or stock bearing an interest of make diffe- three
e three per cent. as aforesaid, shall be unrerent apprcpriations of deemed, the government shall have liberty, the funds if they in certain if they think proper, to make other and difevent. ferent an
ferent appropriations of the said funds.
. Sec. 13. And be it further enacted, That Priorities in appro- all priorities heretofore established in the ap
propriations by law, for the interest on the for the pay ment of in- debt of the United States, as between the
to different parts of the faid debt, shall, after ceale, as to certain cre- the year one thousand seven hundred and
ninety-fix, cease, with regard to all creditors
of the United States, who do not, before the expiration of the said period, fignify, in writing, to the Comptroller of the Treasury, their diflent therefrom; and that thenceforth, with the exception only of the debts of such creditors who shall fo fignify their diffent, the funds or revenues charged with the said appropriations, hall, together, constitute a common or consolidated fund, chargeable indiscriminately, and without priority, with the payment of the said interest.
Sec. 14. And be it further enacted, That all Certificates certificates, commonly called loan-office cer- to be pre
sented at tificates, final settlements, and indents of in- the terest, which, at the time of passing this act, ry; shall be outstanding, shall, on or before the first day of January, in the year one thousand seven hundred and ninety-seven, be presented at the office of the Auditor of the Treasury of the United States, for the purpose of being exchanged for other certificates of equivalent value and tenor, or, at the option of the holders thereof, respectively, to be registered at the said office, and returned; in which case, it shall be the duty of the said Auditor to cause some durable mark or marks to be set on each certificate, which shall afcertain and fix its identity, and whether genuine, or counterfeit, or forged ; and every of the said certificates, which shall not be
or be barpresented at the said office, within the said red. time, shall be forever after barred or precluded from settlement or allowance.
Sec. 15. And be it further enaĉied, That if any transfer of stock Itanding to the credit of cor' a state, shall be made pursuant to the act, in- annexed to titled, “ An act authorizing the transfer of
01 of stock
Commi fonct to po tor
suspenst ded debr.
imbursement or redem
credit of certain of January, in the
day of January, in
who hundred and for
he last day of December plied all such
ne upon condition, that at any time
„seimburse, at a subsequent aforesaid,
wbursement, so much of the demptir
tock fo transferred, as will States
itbursement thereof, equal in fund
Sind degree, to that of the same
erred previous to the said day. ó. And be it further enacted, That nito any sum which shall have remain
expended upon any appropriation other er for the payment of interest on the fun
debt; for the payment of interest upon, nu reimbursement, according to contract, of any loan or loans made on account of the taited States; for the purposes of the sink. ing fund; or for a purpose, in respect to which, a longer duration is specially assigned by law, for more than two years after the expiration of the calendar year in which the act of appropriation shall have been paffed, fuch appropriation shall be deemed to have ceased and been determined ; and the sum so unexpended shall be carried to an account on the books of the treasury, to be denominated “ The SURPLUS Fund." But no appropriation shall be deemed to hare so ceased and been determined, until after the rear one thouland feren hundred and ninett-fve, unless it Thall appvar to the Secretary of the Treasury, that shë obat there's hath been fully satisfied, in which icmall de laval for him to caure to be carried the unexpended residue shera
accuni “ the furplus
ed to the
Sec. 17. And be it further enacted, That the
Duty of department of the treasury, according to the the curcafu. the respective duties of the several officers thereof, rer with re
gard to tlac shall establish such forms and rules of proceeding, for and touching the execution of of this act. this act, as shall be conformable with the pro. visions thereof. Sec. 18. And be it further enacted, That Commis
fioners of all the restrictions and regulations heretofore the finking established by law for regulating the execu, fund, in the
execution tion of the duties enjoined upon the commise of this act, fioners of the sinking fund, shall apply to, to be reguand be in as full force for the execution of analogous the analogous duties enjoined by this act, as pro
of other if they were herein particularly repeated and acto. re-enacted : And a particular account of all
ont of all They shall
lay before sales of stock, or of loans by them made, shall Congress 3 be laid before Congress, within fourteen days
after their meeting next after the making of stock or any such loan or sale of stock.
loans made. Sec. 19. And be it further enacted, That in Loans unevery case in which power is given by this act
act may be to make a loan, it shall be lawful for such made of the
bank of u. loan to be made of the bank of the United States, although the same may exceed the sum of fifty thousand dollars.
Sec. 20. And be it further enačted, That so much of the act laying duties upon carriages tations of
The limifor the conveyance of persons, and of the certain acts
extended. act laying duties on licenses for selling wines and foreign distilled fpirituous liquors by retail ; and of the act laying certain duties upon snuff and refined sugar, and of the act laying duties on property fold at auction, as limits the duration of the said several acts, be, and the fame is hereby repealed;
VOL. III. E 2 ;
to make in which powerther enacted, 7
FREDERICK AUGUSTUS MUHLENBERG,
Speaker of the House of Representatives.
Senate pro tempore.
President of the United States.
· An Act making further Appropriations for the
military and naval Establishments, and for the
Sec. 1. D E it enacted by the Senate and House
D of Representatives of the United States of America, in Congress asembled, That including the appropriation of five hundred thousand dollars, made for the military establishment for the year one thousand seven
hundred and ninety-five, by an act of the Additional present session, there be appropriated for the
for faid military establishment, a sum not exceed-
lars, and twenty-nine cents; that is to say:
appropria said mitte million four hunand thirty-nine