United States Statutes at Large/Volume 4/19th Congress/1st Session/Chapter 79
Chap. LXXIX.—An Act to authorize the payment of interest due to the city of Baltimore.
Accounting officers of the Treasury Department to liquidate the claims of the city of Baltimore, &c.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the proper accounting officers of the Treasury Department be, and they are hereby, authorized and directed to liquidate and settle the claim of the city of Baltimore against the United States, for interest upon money borrowed, and actually expended by the city in its defence, during the late war with Great Britain.
Rules to be adhered to in ascertaining the amount of interest due said city.Sec. 2. And be it further enacted, That, in ascertaining the amount of interest due to the city of Baltimore, the following rules shall be adhered to, to wit: That interest shall not be computed on any sum which the city of Baltimore has not expended for the benefit of the United States, which sum shall be evidenced by the amount refunded or repaid to the city of Baltimore by the United States; that no interest shall be paid on any sum on which the city of Baltimore has not paid interest; and that when the principal, or any part of it, has been paid by the United States to the city of Baltimore, the interest on the sum so paid shall cease, and not be chargeable to the United States any longer than to the time of repayment.
Approved, May 20, 1826.