for receiving on loan that part of the domestic debt of the United States, which hath not been subscribed pursuant to the terms proposed in the act, intituled, “An act making provision for the debt of the United States,” shall be, and it is hereby extended, on the same terms, as in and by the said act is provided, to the first day of March next; and books, for receiving such farther subscription,Subscription books to be opened. shall be opened at the treasury of the United States, and by the commissioners of loans in each of the said states, on the first day of June next, which shall continue open until the said first day of March next inclusively; for which purpose, the said commissioners, respectively, are hereby invested with the like powers, and required to perform the like duties,1790, ch. 34. as in and by the said act is directed.
Interest to non-subscribing creditors.Sec. 2. And be it further enacted, That such of the creditors of the United States, as have not subscribed and shall not subscribe to the said loan, shall nevertheless receive a rate per centum on the amount of so much of their respective demands, as well for interest as principal, as, on or before the first day of March, shall be registered, conformably to the directions of the said act, as shall be equal to the interest payable to the subscribing creditors, which shall be payable at the same times and places, and by the same persons, as in and by the said act is directed.
Term for receiving state debts extended,Sec. 3. And be it further enacted, That the term for receiving upon loan that part of the debts of the respective states, which hath not been subscribed pursuant to the terms proposed in the act aforesaid, shall be, and it is hereby enlarged on the same terms, as in and by the said act is provided, until the first day of March, one thousand seven hundred and ninety-three inclusively; subscription books to be opened.for which purpose, books shall be opened at the treasury of the United States, and by the commissioners of loans in each of the said states, on the first day of June next, which shall continue open until the first day of March, one thousand seven hundred and ninety-three inclusively; for which purposes the said commissioners are hereby invested with the like powers, and required to perform the like duties, as, in and by the said act, is directed.
Certain certificates of N. Carolina excluded.Sec. 4. Provided always, and be it further enacted, That the commissioner of loans for North Carolina shall not be allowed to receive any certificate issued by Patrick Travers, commissioner of Cumberland county, or by the commissioners of army accounts at Warrenton.
Debt due to certain foreign officers, President to cause to be paid.Sec. 5. And whereas the United States are indebted to certain foreign officers, on account of pay and services during the late war, the interest whereof, pursuant to the certificates granted to the said officers by virtue of a resolution of the United States in Congress assembled, is payable at the house of Grand, banker, at Paris, and it is expedient to discharge the same. Be it therefore enacted, That the President of the United States be, and he hereby is authorized to cause to be discharged the principal and interest of the said debt, out of any of the monies, which have been or shall be obtained on loan, in virtue of the act aforesaid, and which shall not be necessary ultimately to fulfil the purposes for which the said monies are, in and by the said act, authorized to be borrowed.
Certain persons appointed Commissioners to purchase debt of the U. S. &c.Sec. 6. And be it further enacted, That the President of the Senate, the Chief Justice, the Secretary of State, the Secretary of the Treasury, and the Attorney General, for the time being, shall be commissioners, who, or any three of whom, are hereby authorized, with the approbation of the President of the United States, to purchase the debt of the United States, at its market price, if not exceeding the par or true value thereof; for which purchase the interest on so much of the public debt, as has already been, or may hereafter be purchased for the United States, or as shall be paid into the treasury, and so much of the monies appropriated for the payment of the interest on the foreign and domestic debt, as shall exceed what may be sufficient for the payment of such interest