interest, and for the reimbursement of the principal of the stock which may be created by virtue of this act; it shall accordingly be the duty of the commissioners of the sinking fund, to cause to be applied and paid out of the said fund yearly, such sum and sums as may be annually wanted to discharge the interest accruing on the said stock, and to reimburse the principal as the same shall become due, and may be discharged in conformity with the terms of the loan; and they are further authorized to apply, from time to time, such sum or sums out of the said fund as they may think proper, towards redeeming by purchase, and at a price not above par, the principal of the said stock, or any part thereof.Faith of the U. States pledged for the establishment of sufficient revenue to make up deficiencies. And the faith of the United States is hereby pledged to establish sufficient revenues for making up any deficiency that may hereafter take place in the funds hereby appropriated for paying the said interest and principal sums, or any of them, in manner aforesaid.
Lawful for the banks in the district of Columbia to make the loan or any part thereof.Sec. 4. And be it further enacted, That it shall be lawful for any of the banks in the district of Columbia to lend any part of the sum authorized to be borrowed by virtue of this act, any thing in any of their charters of incorporation to the contrary notwithstanding.
Approved, March 14, 1812.
Statute Ⅰ.
Chap. XLII.—An Act supplementary to “An act to raise an additional Military Force.”
Act of Jan. 11, 1812, ch. 14.
Uniform clothing to the non-commissioned officers.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the non-commissioned officers, musicians and privates of the light dragoons shall receive the same uniform clothing as is now provided by law for the artillery and infantry, excepting one pair of gaiters and four pairs of shoes, in lieu of which, each person shall be annually entitled to receive one pair of boots, and two pair of shoes.
Light artillery to receive the same clothing as the light dragoons.Sec. 2. And be it further enacted, That the non-commissioned officers, musicians and privates of the regiment of light artillery, shall receive the same clothing as the light dragoons, when ordered to be mounted.
Officers to take rank, except the generals, as the President may direct.Sec. 3. And be it further enacted, That all the officers, excepting general officers, who may be appointed during the present session of Congress, under the “Act to raise an additional military force,” shall take rank in such manner as the President of the United States shall direct, without regard to priority of appointment.
Approved, March 17, 1812.
Statute Ⅰ.
[Obsolete.]
Chap. XLIII.—An Act repealing the tenth section of the act to incorporate the subscribers to the Bank of the United States.[1]
The tenth section of the act incorporating the bank repealed.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the tenth section of the act, entituled “An act to incorporate the subscribers of the Bank of the United States,” shall be, and the same is hereby repealed.
Approved, March 19, 1812.- ↑ The 10th section of the act incorporating the Bank of the United States, February 25, 1791, chap. 10, repealed by this law, was as follows:—Section 10, of the act of February 25, 1791, chap. 10: “And be it further enacted, That the bills or notes of the said corporation, originally made payable, or which shall have become payable on demand, in gold and silver coin, shall be received in all payments to the United States.
