Seat of Government.

30, 1795

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B.-A statement of the species and value ofern branch; thence with the waters of the Eastsilver coins delivered by the Chief Coiner of the ern branch, Potomac river, and Rock creek, to the Mint, from October 15, 1794, to October 24, 1795, beginning, have conveyed the same to trustees inclusive, as appears by the books of the Treasu- for a Federal City, to be laid out with such rer of the Mint.

streets, squares, parcels, and lots, as the President From October 15, 1794, to June

of the United States should approve; the streets

$68,169 and squares to be the property of the United States From July 1, 1795, to October

solely, and the lots to be equally divided between 24, 1795


the granters and the United States. That the

State of Virginia has paid one hundred and twenTotal


ty thousand dollars, which had been previously Half-dollars


offered by an act of the Legislature on condition

that Congress would establish the permanent Seat Half-dimes


of Government on the banks of the Potomac, to Do.


be applied, under the direction of the President of

the United States, towards erecting the necessary Total


buildings for the Federal Government; and that

the State of Maryland hath paid seventy-two Value in dollars

468,988 80

thousand dollars for the same purpose. That the Commissioners, in order to secure proper materials

for the public buildings, directed by the act above C.-A statement of the species and value of mentioned, at reasonable rates, and to facilitate the gold coins delivered by the Chief Coiner of the carriage thereof, proceeded to purchase quarries Mint, from July 31 to October 24, 1795, inclusive, of freestone; to build wharves and bridges; and as appears by the books of the Treasurer of the to open such roads and canals as were deemed Mint.

necessary for these purposes; which having acEagles

1,884 complished, they commenced building of the CaHalf-eagles

8,707 pitol and President's house, and have made conValue in dollars

62,375 siderable progress therein. The Commissioners

considering that an increase of houses would in

duce settlers in the city, and thereby contribute SEAT OF GOVERNMENT.

much to the accommodation of Congress and the

advancement of trade and manufactures, did, in To the Honorable Congress of the United States tract with two gentlemen for the sale of six thou

the month of December, 1793, enter into a conof America :

sand lots, at the low rate of eighty dollars per lot, The Memorial of the Commissioners appointed by the payable in seven annual instalments, the pur

President of the United States, by virtue of an act, chasers obliging theniselves to erect one hundred entitled, “An act for establishing the temporary and and forty convenient brick dwelling houses, each permanent Seat of the Government of the United before the year 1800; and, engaging further, that

covering one thousand two hundred square feet, States," respectfully sheweth :

all sales made by them previous to the year 1796 That the President of the United States, by should be on condition that the purchasers virtue of the act above-mentioned, appointed three should erect one such house for every three lots Commissioners, for the purposes declared in the purchased. The Commissioners have, from time said act, and in an act to amend the same, passed io time, sold lots in small numbers or singly, to åt Philadelphia in the year 1791, who, under his various persons, to the amount of ninety-five thoudirection did cause to be surveyed, and by proper sand six hundred and fifty-two dollars, and there metes and bounds defined and limited, a district of still remain unsold about four thousand seven territory ten miles square, on both sides of Poto- hundred lots; which, valued at the average price mac river, including the towns of Alexandria, in of those sold as last above mentioned, are worth Virginia, and Georgetown, in Maryland, for the nearly one million and a half of dollars. With permanent Seat of the Government of the United these resources in their hands, your memorialists States: that the proprietors of all the lands within entertain no doubt of completing such buildings the following bounds—that is to say, beginning on as will be absolutely necessary for the reception of the east side of Rock creek, at a stone standing Congress, before the time appointed for their remoin the middle of the road leading from George-val to the permanent Seat of Government; but, as town to Bladensburg; thence along the middle of the punctual compliance with the contracts of indithe said road to a stone standing on the east side viduals cannot be relied on with that certainty of Reedy branch of Goose creek; thence south-which is necessary to the carrying on the public easterly, making an angle of sixty-one degrees works to advantage, and as the bringing into and twenty minutes, with the meridian, to a stone market so large a portion of the city property as standing in the road leading from Bladensburg to would raise money sufficient for that purpose, the Eastern branch ferry; thence south to a stone would greatly depreciate its value, your memoighty poles north of the east and west_line rialists conceive that the loan of a sum of money, rawn from the mouth of Goose creek to the East-secured on the city property, would be highly add

Seat of Government.

vantageous, as it would enable them to proceed he may judge proper, after the year 1800; and to with more celerity in completing the public build- guaranty to the money-lenders, that in case the ings than a dependance on the collection of debts property so pledged shall prove inadequate to the and sale of property will admit.

purpose of repayment, the United States will The rapid progress of the buildings would in make good the deficiency. itself be an encouragement to private improve

GUST. SCOTT, ments, and have an immediate tendency to en

WILLIAM THORNTON, hance the price of lots; but could the lots be ge

ALEXANDER WHITE. nerally retained until the Seat of Government shall be removed, they will rise so far beyond The committee to whom was referred the Message their present value, that not only all sums now borrowed on that foundation may be repaid, but from the President of the United States, of the sth of much property reserved for the disposal of the January instant, enclosing a memorial of the CooUnited States; yet, as the laws of Maryland, missioners appointed by virtue of the “Act establishwhich are still in force in the Federal District, do not permit the receiving of more than an in

ing the temporary and permanent Seat of Governterest of six per centum per annum, which on

ment of the United States," reportthis occasion it will probably be necessary to ex

That, having carefully perused the memorial ceed, and as money lenders, in foreign countries and documents furnished by the Commissioners, at least, may be unacquainted with the value of and having been attended by one of them in perthe security offered, your memorialists beg leave son, as the result of their inquiries, they beg leave to submit to the consideration of your honorable to state, for the consideration of the Housebody the propriety of giving your sanction to a That considerable progress has been made toloan, on the principle above stated, so far as to wards fulfilling the object of the aforementioned guaranty the payment of such sums as may be act. The difficulties incidental to an undertaking deemed adequate to the purpose of erecting the of this nature are chiefly surmounted: though Federal buildings; or to such an amount as Con- much remains to be done, yet almost every branch gress may be satisfied is clearly within the value of the business has been commenced, and many of the property pledged, if it shall be judged ex- of the materials necessary for erecting the buildpedient either to advance money, or at this time ings are provided. The House for the accommoto subject the revenues of the United States to dation of the President is in considerable forthe eventual payment of moneys in future for the wardness, and the foundation of the Capitol is above mentioned purposes; and to authorize the laid, and the walls begun; wharves and bridges payment of such interest as the President of the have also been built, and the necessary roads United States may judge reasonable. Should opened. Congress adopt the proposed measure, your me

The funds for defraying the expense of promorialists have no hesitation in expressing their curing the lands and erecting the buildings neconfidence that, not only all the buildings re- cessary for the accommodation of Congress, of quired by the acts aforesaid will be erected in a the President, and for the public offices, are the convenient and elegant style, and in due time, lands ceded to the Commissioners, as stated in and (what is perhaps unparalleled among nations) the memorial, together with one hundred and at private expense, but that private buildings will twenty thousand dollars granted by the State of progress in such a degree as to afford sufficient Virginia, and seventy-two thouusand dollars by accommodation for Congress, and all their attend the State of Maryland. It is the opinion of the ants, and render their situation perfectly agreeable. committee that these funds, if properly managed, Your memorialists, in contemplating a measure are fully adequate to the completing of all the which to them apppears mutually advantageous buildings required for the accommodation of the to the city and to the United States, have con- Government, in season, without any aid from the sidered what objections, if any, could be raised Treasury of the United States. against it. They discover none: they have heard The Commissioners, soon after the laying out none suggested; and they cannot believe that of the Federal City, sold six thousand of the Congress will refuse their aid to render valuable, public lots, at eighty dollars each; the purchasers property granted by individuals for public pur-stipulating to build one hundred and forty conve poses, on the faith of Government pledged by re- nient large brick dwelling houses in the Federal peated acts of the Legislature; more especially City, before the year 1800; and the said purwhen, by giving that aid, no expense will be in-chasers further stipulating that all sales made by curred; but, on the contrary, much property will them previous to 1796 should be on condition that be saved to the United States. Your memo- for every three lots so sold, one such dwelling rialists therefore pray your honorable body to house should be erected. pass an act authorizing the President of the Uni- The committee are informed, that under this ted States to borrow such sums as, on considera-condition, upwards of six thousand lots have been tion of the premises, shall appear reasonable, to sold. be secured on the lots ceded for the Federal City,

The Commissioners have, at different periods (now called the City of Washington,) as above sold to sundry persons upwards of two hundred stated, at such rate of interest as he may judge other lots, together with a small number of water expedient, and payable at such time or times as I lots, for the sum of ninety-six thousand six hunSeat of Government. dred and fifty-two dollars. The payment of the hundred thousand dollars, for completing the six thousand lots was to be in seven equal annual whole. instalments.

The committee conceive that it will be necesThe whole amount of donations and sale of sary to expend, until the year 1800, in comlots is seven hundred and sixty-eight thousand six pleting the several objects enumerated, at least hundred and fifty-two dollars.

the annual sum of one hundred and forty thouThe Commissioners state to the committee that sand dollars. of this sum three hundred and seventy-four thou

The committee have already observed, that sand two hundred and fifty dollars are already ex- firm reliance cannot be placed on the punctuality pended.

of the debtors of the public. If forty thousand From this statement, which is apprehended to dollars be taken as the sum that shall be annually be sufficiently accurate for general purposes, it is received from this source, there will be an annual easy to form an estimate of the resources remain-deficiency of the sum of one hundred thousand ing in the hands of the Commissioners. They are dollars. the money due on contracts for lots sold, being If this deficiency be not supplied in some way, three hundred and ninety-four thousand four it will result that the public buildings will not be hundred and two dollars, payable in the present in readiness for the reception of Congress at the and four succeeding years, in sums nearly equal ; time proposed. that is about eighty thousand dollars: and the This deficiency must be supplied by the sale of lots unsold, being four thousand six hundred and the lots belonging to the public, if no better mode ninety-four, exclusive of the water lots, which oc- can be devised. cupy three thousand five hundred feet on the

The committee conceive that the real interest, water, and extend back from sixty to an hundred as well as the good faith of the Government, forfeet.

bid the relinquishment of the objects contemIt is difficult to say, with any degree of pre- plated by the act establishing the permanent Seat cision, what this property will realize, as much of Government. It is stated by the Commiswill depend on the time and manner of the sale. sioners that this property, if sold under the most It is stated by the Commissioners, that esti- unfavorable circumstances

, would still be ademating these lots according to the average price of the lots sold, exclusive of the great sale of six quate to the purpose ; but,

as this property may

justly be considered as that of the public, it thousand in 1793, they are worth one million would, in the opinion of the committee, be a three hundred and ninety-three thousand seven hundred and ninety dollars; and that, from the fied only by the most urgent necessity, which the

wanton sacrifice of the public interest, and justiprogress made in the public buildings, and from committee conceive does not exist, to raise the the improvements made and contemplated by pri- money wanted in this way. It is, in the opinion vate persons, the value of this property must ra- of the committee, the duty of Congress, founded pidly increase.

on the truest principles of economy, to cherish The Commissioners also state, that, in their these funds so as to make them productive of the opinion, it would be unsafe to calculate on strict greatest public utility. punctuality in the payment of the instalments as

But two other modes of accomplishing the obthey become due from their debtors, though they jects contemplated, have presented themselves to assure the committee that there will eventually the view of the committee, namely, that of anbe no loss.

nual advances from the Federal Treasury of the The committee have endeavored to state, as requisite sums, and that by raising the same by a correctly as possible, the resources now in the loan. hands of the Commissioners, that these may be If the state of the public finances would admit compared with the objects yet to be accomplish- of it, the former would, in every point of view, ed. The principal of these are the completing be the most economical, and the most certain. of the President's house, the Capitol, at least as The public would, in that case, derive all the adfar as may be necessary for the accommodation vantages resulting from the rapid increase of the of the two Houses of Congress and their officers, value of property in this infant city, and might a building for the Judiciary, and another for the reimburse the sums so advanced, by sales at such several Departments of State, of the Treasury, times, and in such manner, as would be most adin all its branches, the Department of War, and vantageous. But, conceiving that the existing the General Post Office, and such improvements objects of expenditure will equal, if not exceed, in the streets as may be essentially requisite for the revenues already provided, and that it would the public convenience.

not be advisable to impose new taxes for this obThe committee have availed themselves of the ject, the committee are induced to believe, that best means of information which the shortness of the only mode which can with propriety be the time they have had the subject under consi- adopted at this time, for supplying the deficiency deration would allow, to form an estimate of the stated, will be that of a loan, secured on the city sums necessary for these several purposes; and property, and negotiated under the direction of though certainty cannot be expected, and much the President; and that it would conduce to the must after all be left to conjecture, they appre-real interest of the public that the United States hend they may with safety be estimated at seven should guaranty the payment of the sums so borSeat of Government.

rowed, in case the property pledged should prove ington; the said loan to be secured on the public insufficient.

property in the said city, and at such rate of inThe committee also conceive that it would be terest as he may judge expedient, and payable at proper, in order that Congress may be enabled to such time or times as he may judge proper, after judge of the application of the moneys so bor- the year 1800 ; and that the United States guarowed, that it be made the duty of the Commis- anty to the money-lenders, that in case the prosioners, semi-annually, to render to the Secretary perty so pledged shall prove inadequate, the Uniof the Treasury a particular account of their re- ted States will make good the deficiency. ceipts and expenditures, and also of the progress Resolved, That it shall be the duty of the Comand state of the business entrusted to their care, missioners appointed by virtue of the act, entiand the state of the funds in their hands; and tled, “An act for establishing the temporary and that the same be laid before Congress, by the said permanent Seat of the Government of the United Secretary, at every session.

States," every six months to render to the sea The committee, therefore, recommend the fol- cretary of the Treasury, a particular account of lowing resolutions :

the receipts and expenditures of all moneys enResolved, That the President of the United trusted to them; and also the progress and state States be authorized to borrow such sums as, in of the business, and the state of the funds in their his judgment, may be necessary (not exceeding hands ; and generally an account of their admi. the sum of five hundred thousand dollars in the nistration ; and that the said Secretary lay the whole, and not exceeding two hundred thousand same before Congress at the next session after in any one year) for completing the buildings

re- the same shall be received, and that a bill or bills quisite for the accommodation of the Govern- be brought in accordingly. ment of the United States, at the City of Wash

The French Loans.

[Communicated to the House of Representatives, January 19, 1796.] A Statement showing the final liquidation of the French Loans, and their full reimbursement at the

Treasury, upon the principles of the Loan opened for the Foreign Debt, under the act making further provision for the support of Public Credit, and for the redemption of the Public Debt.

Liquidation of French Loans, &c.

Livres. S. D. Livres. S. D.

Livres. S. D.

Dolls. Cts.

12,188,040 12 2 a $18 152,212,129 37

Balance due to France on December 31,

1794, agreeably to the printed state-
ment for that year, payable at differ-
ent future periods, ascertained by
contracts dated July 16, 1782, and

February 25, 1783
Debt due to the Farmers General of

France, upon a contract made June 3,
1777, with Messrs. Franklin & Dean,
as agents of the U. States' amount of

the Loan Deduct remittances made by the late

1,000,000 0 0


153,229 5 7

846,770 14 5 a 18 15 153,688 89

Interest arising in the year 1795, on the

instalments becoming payable by con

tracts after December 31, 1794, viz: One year's interest due September 3,

1795, on six millions, being the residue of the Loan of eighteen millions

of livres, at five per cent. per annum 300,000 0 0 One year's interest due November 4,

1795, on two millions livres, being the residue of the Loan of ten mil

lions, at four per cent. per annum - 80,000 0 0 One year's interest due December 31,

1795, on the entire loan of six mil

lians, at five per cent. per annum 300,000 0 0 Interest from September 3 to December

31, 1795, on four millions five hun. dred thousand remaining of the Loan of eighteen millions, after paying one million five hundred thousand, the

instalment of September 3, 1795 73,750 0 0 Interest from November 4 to December

31, 1795, on one million livres remaining of the Loan of ten millions, after paying one million, the instalment of November 4, 1795

6,333 6 7

760,083 6 71

For amount of interest relinquished,

which had been charged in the account settled to December 31, 1794, upon moneys advanced by the United States on account of instalments be

coming due For amount of interest on 846,770 14 5,

being the balance due to the Farmers General from September 3, 1783, to December 31, 1793—ten years, three months, and twenty-eight days

104,462 2 5

437,262 19 10

1,301,808 8 10 a 18 15 236, 278 23

14,336,619 15 5 a $18 152,602,096 49

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