obtaining subscriptions to the loan authorized by this act, or of selling any part of the stock to be created by virtue thereof. A commission not exceeding one quarter of one per cent. on the amount thus sold, or for which subscriptions shall have been thus obtained, may, by the Secretary of the Treasury, be allowed to such agent or agents; and a sum not exceeding nine thousand dollars, to be paid out of any moneys in the treasury not otherwise appropriated, is hereby appropriated for paying the amount of such commission or commissions as may be thus allowed, and also for defraying the expenses of printing, and issuint the subscription certificates and certificates of stock, and other expenses, incident to the completing of the loan authorized by this act.
Treasury notes due before January receivable in payment of this or any other loan.Sec. 4. And be it further enacted, That it shall be lawful to receive in payment of any loan obtained under this act, or under any other act of Congress authorizing a loan, treasury notes which have been issued according to law, and which shall become due and payable on or before the first day of January next, at the par value of such treasury notes, together with the interest thereon accrued, at the time of the payment on account of the loan.
Fund appropriated for the payment of interest and reimbursement of principal of stock created by virtue of this act.Sec. 5. And be it further enacted, That so much of the funds constituting the annual appropriation of eight millions of dollars, for the payment of the principal and interest of the public debt of the United States as may be wanted for that purpose, after satisfying the sums necessary for the payment of the interest and such part of the principal of said debt, as the United States are now pledged annually to pay or reimburse, is hereby pledged and appropriated for the payment of the interest, and for the reimbursement of the principal of the stock which may be created by virtue of this act. It shall accordinglyDuty of commissioners of sinking fund, 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.
Permanent funds to be provided and appropriated, in addition to the sum already appropriated to the sinking fund.Sec. 6. And be it further enacted, That in addition to the annual sum of eight millions of dollars, heretofore appropriated to the sinking fund, adqueate and permanent funds shall during the present session of Congress, be provided and appropriated, for the payment of the interest and reimbursement of the principal of said stock created by this act.
Sec. 7. And be it further enacted, That an adequate and permanent sinking fund, gradually to reduce and eventually to extinguish the public debt,An adequate sinking fund for paying the war debt to be created. contracted and to be contracted during the present war, shall also be established during the present session of Congress.
Sec. 8. And be it further enacted, That it shall be lawful for any of the banks in the District of Columbia,Banks in District of Columbia authorized to contribute to the loan. to lend any part of the sum authorized by virtue of this act, any thing in any of their charters to the contrary notwithstanding.
Approved, November 15, 1814.
Statute III.
Chap. VI.—An Act to authorize the publication of the laws of the United States within the territories of the United States.
