Western Sun, Volume 1, Number 5, Vincennes, Knox County, 1 August 1807 — Page 1

VOL. I. SATURDAY, AUGUST 1, 1807. NO. 5.

THE

WESTERN SUN

THE WESTERN SUN,

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(BY AUTHORITY.)

AN ACT

Supplementary to the cact entitled an "Act

making provision for the redemption of of the whole of the public debt of the United States." WHEREAS it is desirable to adapt the nature of the provision for the redemption of the public debt to the present circumstancesof the U. States, which can only be done by a voluntary subscription on the part of the crfeditors. BE it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That subscription to the full amount of the old six percent deferred and three per cent stocks, be, and the same hereby are proposed ; for which purpose books shall be opened at the treasury of the Unitrd States and by the several commissioners of loans,

on the first day of July next, to contniuel

open until the 17th day of March next following, inclusive, the fourteen last days

of each quarter excepted, for such parts of

x.je 393 c rariitio.ieu ucicripiioi.a ci iiotu, it flull, on the dy of fubfeription, Hand on the bac;: of the trefary, and of the feTeral conimifiioners of lout, rfarclively ; which fubfeription fipll be r!-drd hy a tranifrr to the United Sutrs, ii a man

ner provided bylaw for fnc!i transfers of

the cf edit or credits, tinain on the fid baoks, and by a furrendrr cf the certificates of the (fork fuhferihrd. S;l. 2. And le it further enacted. That for th? wholr or any pwrt of any fum which (hall thus he fuhfrribfd in old fix pcrtentu:, or deferred Hock, credits (ball be enterred to the refprAive fuhferibrrs, and t!; fjbfcriber or lujicrihers, fhll be entitled ti a crrif;c te or certificates, puru i tirj that the U r.itrd States ow, to thr holder or holdrri thereof, h her or their win n, a fum to le exprrTrd thrrri;, fq i d to th.- mount t'princlplr of th- foik tiius fjf.riard. Tr;;c!i (hall.rsrnain uurrdecinra on th- d tv cffdh fjbfcriptio:), bmT'm,r aninte'e.'l ef llxp-tr centum prr annum, piyalle qinrteryeirly from the firO dy of t!e q:nr;rr during which fjch fuijfcriptian full Invr kren made, tratisf -rahle in the fme ntnlr as is provided hy I iw for the transfers v.T the (lock fjbfcrih-d, and fj!jj.-c to redemption, the plrafure cf thr U-ir-:' 5tats : Provided. TUl r.o fmg!r (rriifi titc flull br iiTaed for an amount rrea: thin ten thoufnd dolhrs : An J poviJet1 f-i.I.tr, that at rciuburrrmrnt Hull o

iucli new ertihCdte, ncr till ..fter i.t !e(: fix mouths ptcv;us public i;otitc wf futl intended iei;;ihufenieiit. Stc. 3. And ke it further er.scttd That for the u hole or aty pirt cf at y fuin whiih (liall thus he fubfiiibed in three pti cent Rock, credits fiiall likewife be elitcr-e-d to the rcfpecYive fubfvribrrs, and tl.t fubfetiher or fiibfcnbers, fia!l be entitlec to a certiScate, perporting that the Uni lO.. -t -ill ill

tea atates owe to tne Holder or iuiaei

thereof, his, her or tlieir afligns futn tc

be exprcF.ed therein, equal to fixty-bvt

per centum of the amount of princ'P ol

the ftock thus fubscribed, bearing an in

terelt ot lix prr centum payable qunrttr

yearly,frcin the 1(1 day of the quarter durg r f i r n ... .

which men luoicnptton mall have been

made, and transferable and fubiect to te

demption in the fame manner, and under the fame regulations and reftriaiens, as the ftock created by the preceeding feetionofthis aft : Provided, That no part ot the ftock thus created (hall de reimburfable without the aiTent of the holder or holders cf fiich ftock until after the whole' of the eight percent and four and a half pei cent, ftocks as well as all the fix per cent

ftock wbah may be created by virtue cf

tne prececing lection iinu have been re.

fum o: twenty t!:oiif,ir.d dtdl irs, w":h con-

men for tlxir rood bchvi. ur in thrir

laid nflit es.

5. Ar.d le it further enacted I'hat the hcldets cf the old lix pe r tent

idcd fi r the lei !; i.iie

1 C ' : A. 1

or

1 riiy expenc

f m t r:vtn this t into f" c"t.

( i'!l 'iVIU.r lilt Kill t ii'THlf-I.i 4 Itir.t ttiu

t " I .

uv..r.irs is m-y be nucrrtJ tor (.njiik

his into frft, a fum not rxcem.i.t;

And be it further enacted. That the cmmiflioners of the fir. king fund (ball be and they are hereby authorised to appoint an agent in London, and another

in Amfterdam whofe. duty it ft.all be to

receive (ubtrriptions and transfers, and t itTue new certificates in the manner nd at

ficers of the treafury department, or tl

commilfioners of loans might do ; thr.t h to fay, the agent in London in favor of

luch ftock-holders rt tiding in the dominions of Great Britain in Europe, and the agent in Amfterdam in favor rf futh ftockholders refiJirjg in any other part of Eu rope, as may refpeftively become fuhfrri hers : Frcvideds That the certificates ilTurd by the fid agent, (hall bear intereft on-

I j from the fiift day cf the quarter next fucccedin that in which the fubfcript'pn

mall have taken place, ard that in rela

tion to fubftritions made in old fix per cent or deferred ftocks, .the .fums exprrlTcd

in fuch new certificates f)iTl be rqu to the amount of tlie principle cf the old fix per cent or deferred ftoks thus fubferibed,

which (lull rrniaiii unredeemed after py

ment of the dividend payable on furh (lock

n that d;.y from which the intereft on the nrW certificates ftiall commence.Th.e foreign

ft rick holders thus fubfetibing with either

of the nid acents ftiall be entitled

t receive the dividend in the o!d fix pe cent def-rred or three per cent ftock, fub

fcr;bed by them rrfprcive!y, which (hall

br payable on that day from which the intereft on the new certificates fb;iil remmence. Ar.d it (hU be the duty of tht

C id x;:-nts refpeively, to tranfmit before the end of each qinrtcr, to the regiftrr cf

the trealwry, und to the feverl comrnif fioneis of loans, rrfplively, triplirite :lr;icsf the certificates of (lot k fui frri bed, a!-d of the new certificatra idued hj them, durintr fuch quartets, in order tht the' prrpr crrdits suy he er.tertd on th books of the treafury, -;nd cf ti e commif fionrrs of l.ians, as the rafr niy h to th iioldersof fuc!i pew c ertific.it;. And the fic 4ents before thry ruter npon tit- exem tion of their feveral clTv-s, fh 11 rrfprc tivrly t ikr dtioitli or -fti motion f'i tl iiliient ana tVirl fu! execution r f t! ri uft, and Ou'l -lf.j h-rmr lru'ul vtnh o" ir n ore furities to the ftisi:on of tlrmnuClioner of :!je finkitg iu:tf, or of the fecrtizry cf thr treufury, in thz pent'

Jlrrr.d, or thire rer cent ftotk who

... may brcrtnr fubferibets, as aforesaid, eilur in the United States or in Europe, k who on the firft day of July nXt,nd alfi n the diy c f tlie fubfeription, (bA Le refident in L'.urcpe, nrsy at tb.eir option, which mi:ft be msde at the time of fuhlVrihit g, receive the intereft accruing cn thr

Hot k, cre-ted by virtue cf the preceding

fecTionsof ll.fe a&, either in the United

Ststes, as other creditors, or at 1 endon or

AtTifterdam : that is to sy the flee k hcl ders rtfiding, at the times above mention

ed in the dominions ot ureat lltitain in

Europe, at London, ar.d at the rate of four (hillings Rnd fixprncc fterling, for each

dollar; and the ()ok I.o!dt is re fidirg a

the times, above mentioned.in any other part

ot Euro; e, at Amfterdam, and at the rateu

two guilders and a half g6ilder, current money cf Holland, for each c!c!lr ; in whirhlaft mentioned option, the condition (hall be exprefled in the new certificates to

beiUued, fr.d tire credit or ctecits to b

given to the proprietors thereof, (hall be riitereil, nnd (hall thtreaftcr betran'fcr,rjlr unlycti the Looks, of the treafiuy : Pro vided htwtver, That the inter ft tl us pyahie in Londmvand Anfteidam, ftll net le payable until the expiration of fix calendar mouths from the day which the fwme would he payable in the United States, ! (ii II be fubjrcl to a deduction one of half vf one percent on the amount payable, vfor ronsraiifion to the bankets piyii'K he famr.

And pt wided also, That eveiy proprietor cf

lUth iiciK m:;y, on furrer.dr i u g his certih

catc receive Miotlter to tbe l;mc s mount,

the it tercft whereof (lull be payable .quitter yearly in the United St?tes, in the f me ihannrr as that acctuirg c n tl.c ftotk held hy pvifons refiding in the U. States. St-a. 6. And , be it further enact td, That the fame funds which heretofore have been, and now Me pledged ry Uw for the payment rf the intereft ar.d for the redemption of reimbutfi tnent of the ftork which may be fubfr rihtd by virtue of the provifioi b of this aa, (hall remain pledged for tin payment cf intereft arrruinr on the fto k created by reafoti of fueh fubftription, and for the redfption cf rein builrnientof the piir.ciple of the fme. It (hill he the duty of the commiftioners of the llnkiig fund to caufe to be applied and paid out of the faid fund, yeaily, and e-

very year futh funiSc fums, as may he aur.u

ixteen therufui d dollars, to lie p-id cut ol uy monies i tl.r tie.Iuiy not otbuvvji'-

rppropiiated, is hereby aj prrprir'tec!.

hect. S. Ar.d be it futlher eract:dt 1'lut ubrnftcver npticr of reinil)urf-tni nt

(hall be gien, as pr fi ribt d by the fict:d iuid third fetior. t f this :-a, tl e certify vu s

intended to be itin lU'fid, fhi-Ii le cithg-

trtrd the-rtin. In every reirnburfi w i.t, the prrh renee ft t v I i -r jiye u to futh I !-

deis of certificate s nip.ev;oub!y tc the l.id

ncticr, (i,ll hae tot.hrd in wrttUg to

the trrafury d' pai tir.e rt their wifii to r ; reimbursed. It their fiicu'd rot Le ai-pU-

catians f the tttsjuiv (iCicient to icquire the payment if the w'u.If -fum to bo

applied to that putpe fe, t! e f c tetssty ol the treafury after p-yti fT all fun s fi r the -payment of which application fttnll have been nude, (hail cVtrrn.irr by lot what other ccrtlfcates fiVl! be retmburird fo as;to rrnke cp ;he whole Htr.t unt tc Lc difrhKrged ."i d in cv.fe the appiicatiiii.s ( e-xt etd ti e r.rr.cunt to be df hatged

the IVt re taiy cf thr tiefyty (hall p:ocrd to dettm'nr by lot v.bt spplieatiiHis Ihll be entitled to the prioiity ol' payment. Sea. 9, And le it further erected, That the agents pointed by vinue this att. and the fi vr-l comm fr.oi.ers c; loan, (hall preferve and perfi m futh cirections and regulaiiei s, ; s ftiall be p.-c-firibtd to thern by the frcretary of the treafuiy, touching the cxecuticn cf this aa. S a. 1 0, And be it further enacted. That nothing in this ( eontair.t ch fi .libe conftrued in ?ny wife, tocher, abiidge or impair the rights of thofe creditors e f ti e United Statrs who (hall not fubfrribe to the lean created by viitur of this aa, - NATHl. MACON,

Speaker cf the House af Representatives GEO: CLINTON. Vice Presidtrt cf the United Stales, a d President of the Senate. Fcbruvty 11, 1807. APPROVFO, TH: JEFFHRSON.

AN ACP making apprrpriatien for n ifliing the South Wiiig of the C-'phil, ai d tor ollur purf of-t. HE it enact td y the Senate end House

ally wanted to dfiharKe the annualintereft ,r Representatives cj th Ur.ittd States rf

simertca in Lorivress etscmsita, j nat m

addition to appn p i.tiors already m:;de, the following fums lh)l br, and the f;:ine arc hereby ij;prcpriated, to be applied uu der the dire aon el the pit fident f the U uitrd Statef, to the ptirpofci herriiuf.cf

of thr ca-

thcufand dU

and charges accruing on jhe ftock which may be created by virtue cf this aft. The

(aid commifKoners are hereby authorifed to :pply from time to time, fuch fum and fums, out of the fid fund, ?s they may think nroarr. towords redeminrr bv nur.

chafe, or reisnbuifrment. In coiif.i miiv with mentioned, that is to f.y :

theprovifion of this aa, the principle -f For fii.iftig. the fouth vlng ol the said (lock. And the annua! fum ot P'toI,.thc Turn of iwrnty five thou

-iht millions of dollars, veftrd by law in)';,r, he r.idcmmiOioneis ftll be and coiuin-l For furniftiing the fi.me for lite acecme appropriated to the payment of intereft, rncdation of the I oufe cf representatives, nd reden ption c f the public debt, until L 'vr,ntt C lU urd u ?he whele cf the ftock which m-y be crea.l r.-king a new roof ar d other rep; irs ed by the preceding feaions cf th aft o the no ih ing c f the capital, twenty. Ihalihave been redeemed or rein.l U;fd. jfive tbcuf t d dwllai s. Sea. 7. And be it further enccled, opening and repairing avrnues and S'hat there fb.-ll be -llcwcd to estli ot thr jrcvdj 'l j the tenitoty cfCdumbi. rnrs to he appointed by v irtue cf tiii jl,r" tKf f i.d ( f. c! For rro its ar.d irnDrotf men's on the

nc Hired by them for urnitM ir, ftationa

nd pcfl-ire, fum ef three t! cufAt d d

' r?, as a full crmpenftion fir tlieir frr. jccrr

ices, "i he faid agents and the cciu;:f j Sea. S. Ar.d be it further enacted, fiorers of loans, ft.: It alfo be allowed fm hjThat the fi-veral fumt f iuouy he by

additional fum ?.s riay be uaHy i :ccf j; ptopriutd, (hall be paid ut ol any' ilo

t,y)pe f.d'i.i's Irufe, ard ibe'fr of ground cn Ic! jwhichtlic f-nie funds, fifteen thonfand