lands so re entered shall not have been re sold previous to such application. H. CLAY, Speaker of the House of Representatives. WM. H. CRAWFORD, President pro-tempore of the Senate. July 6, 1812. APPROVED, JAMES MADISON. CHAPTER CXXXV. AN ACT authorising a subscription for the old six per cent. and deferred stocks, and providing for an exchange of the same. That a sub Books to be cent stock BE it enacted by the Senate and House of Representatives of the United States of Ame rica in Congress assembled, scription to the full amount of the old opened at the six per cent and deferred stocks be, and the Treasury for a subscripsame is hereby proposed to the proprietors tion to the thereof; for which purpose books shall be old six per opened at the Treasury of the United States of the United and by the several commissioners of loans, States. on the first day of October next, to continue open till the seventeenth day of March ensuing inclusively, the fourteen last days of each quarter excepted, for such part of the above mentioned stocks as shall, on the day of subscription, stand on the books of the Treasury and of the several commissioners of loans respectively; which subscription shall be effected by a transfer to the United Terms upon which sub. scriptions may be rgade. Proviso. States, in the manner provided by law for such transfers, of the credit or credits standing on the said books, and by a surrender of the certificates of the stock subscribed. Sec. 2. And be it further enacted, That for such part of the amount of old six per cent. or deferred stock, thus subscribed, as shall remain unredeemed on the day of such subscription, credits shall be entered to the respective subscribers, on the books of the Treasury or of the commissioners of loans where such subscription shall have been made, and the subscriber or subscribers shall be entitled to receive a certificate or certificates purporting that the United States owe to the holder or holders thereof, his, her, or their assigns, a sum to be expressed therein, equal to the unredeemed amount of the prin cipal of the old six per cent. or deferred stocks, subscribed as aforesaid, bearing an interest of six per centum per annum, payable quarter-yearly, from the first day of the quarter during which such subscription shall have been made, transferable in the same manner as is provided by law for the transfers of the stock subscribed, and subject to redemption at the pleasure of the United States at any time after the thirty first day of December, one thousand eight hundred and twenty-four: Provided, That no reimbursement shall be made except for the whole amount of the stock standing at the time, to the credit of any proprietor, on the books of the Treasury or of the commissioners of loans respectively, nor till after at least six months' previous public notice of such ins tended reimbursement. Sec. 3. And be it further enacted, That the same funds which heretofore have been, Funds to be pledged. and now are pledged by law for the payment of the interest and for the redemption or reimbursement of the stock which may be subscribed by virtue of the provisions of this act, shall remain pledged for the payment of the interest accruing on the stock created by reason of such subscription, and for the redemption or reimbursement of the principal of the same. It shall be the duty of the commissioners of the sinking fund, to cause to be applied and paid out of the said fund, yearly and every year, such sum and sums as may be annually wanted to discharge the annual interest accruing on the stock which may be created by virtue of this act. The said commissioners are hereby authorised to apply, from time to time, such sum and sums out of the said fund as they may think proper, towards redeeming by purchase, or by reimbursement, in conformity with the provisions of this act, the principal of the said stock. And such part of the annual sum of eight millions of dollars, vested by law in the said commissioners, as may be necessary and wanting for the above purposes, shall be and continue appropriated to the payment of interest and redemption of the public debt, until the whole of the stock which may be created under the provisions of this act shall have been redeemed or reimbursed. Sec. 4. And be it further enacted, That nothing in this act contained shall be construed in anywise to alter, abridge or impair the rights of those creditors of the Uni fed States who shall not subscribe to the loan to be opened by virtue of this act. H. CLAY, Speaker of the House of Representatives. WM. H CRAWFORD, President pro-tempore of the Senate. July 6, 1812. APPROVED, JAMES MADISON. by the Secretary of the Treasury for the sale of stock of the United States. CHAPTER CXXXVI. AN ACT supplementary to the act, entitled" An act authorising a loan for a sum not exceeding eleven millions of dollars." BE it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That the be appointed Secretary of the Treasury be, and he is hereby authorised to employ, with the approbation of the President of the United States, an agent or agents for the purpose of selling, in conformity with the provisions of the act, entitled "An act authorising a loan for a sum not exceeding eleven millions of dollars," any part of the stock created by virtue of the said act A commission not exceeding one eighth of one per cent. on the amount thus sold, may by the Secretary of the Treasury be allowed to such agent or agents; and a sum not exceeding five thousand five hundred dollars, to be paid out of any monies in the Treasury not otherwise appropriated, is hereby appropriated for paying the amount of such commission or commissions as may be thus allowed. H. CLAY, Speaker of the House of Representatives. WM. H. CRAWFORD, President pro-tempore of the Senate. July 6, 1812. APPROVED, JAMES MADISON. CHAPTER CXXXVII. AN ACT making further provision for the Army of the United States, and for other purposes. tional brigadier generals may be ap BE it enacted by the Senate and House of Representatives of the United States of Ame rica in Congress assembled, That the President of the United States be, and he is hereby authorised by and with the advice Two addiand consent of the Senate, to appoint two brigadier generals, in addition to those alrea dy authorised by law, who shall each be entitled to the same number of aids and brigade majors as are allowed to a brigadier general under the act of Congress passed the eleventh of January, one thousand eight hundred and twelve. And the said brigadier generals, aids and brigade majors, shall be pointed by the Presi dent. |