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9. After the last day of December, in the year one thousand eight hundred and twenty-five, and after reasonable notice to the creditors, which shall be given by an advertisement in some public newspaper, printed at the seat of the government of the United States, the said capital six per cent. stock shall be redeemable at the pleasure of the United States, by the reimbursement of the whole sum which may at that time stand credited to any proprietor on the books of the Treasury or of the loan offices respectively. And the payments of the said annuities for thirteen years, shall cease and determine on the first day of January, one thousand eight hundred and twenty-six, when the certificates of the same shall be surrendered up and cancelled.
10. 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 necessary for the regular payment of the interest, and for the reimbursement of the principal of the stock, and for the regular payment of the annuities to be created under this contract, together with the faith of the United States for its due fulfilment, are hereby pledged in pursuance of, and according to the terms and conditions of the act of Congress herein before recited.
Given under my hand and the seal of the Treasury of the United States, at Washington, this twentieth day of February, one thousand eight hundred and thirteen.
Secretary of the Treasury.
UNITED STATES' LOAN.
TREASURY DEPARTMENT, March 18th, 1813.
Notice is hereby given, that the books for receiving subscriptions to the Loan, authorized by the act of Congress, of February 8th, 1813, will again be opened on the 25th day of this month, on the same terms and conditions as heretofore, and continue so open till the 31st day of this month, unless sooner closed by public notice, at the following places, and for the following sums respectively, that is to say:
At New York, for five millions of dollars, at the Manhattan Company,: Mechanics' Bank, City Bank, Merchants' Bank, Bank of America.
At Philadelphia, for five millions of dollars, at the Bank of Pennsylvania," Farmers and Mechanics' Bank, Philadelphia Bank, Stephen Girard's Bank.
At Baltimore, for one million seven hundred thousand dollars, at the Bank of Baltimore, Commercial and Farmers' Bank, Union Bank of Maryland, Mechanics' Bank, Marine Bank.
At Washington, for three hundred thousand dollars, at the Bank of Washington, office of the Bank of Columbia.
Proposals will also be received by the Secretary of the Treasury, until the fifth day of April next, from any person or persons, body or bodies corporate, who may offer for themselves or others, to subscribe for the whole or part of the residue of the Loan aforesaid, which may not have been subscribed for prior to the 1st day of April next. The proposals must distinctly state the amount offered to be loaned, the species of stock or stocks, which
the parties wish to obtain, and the price they will allow for the same. Unless a different modification should be asked in the proposal, it will be understood that the amount loaned will be paid into the Treasury, in four equal instalments; viz: on the 15th days of April, June, August, and October next; and that the stock issued will be irredeemable till the 31st day of December, 1825.
If proposals shall be made amounting together to a greater sum than that required, the preference will, on equal terms, be given to stockholders of the six per cent. stock of 1812.
If any proposals differing in terms from one another, or from those on which subscriptions have already or may be made prior to the 1st day of April next, should be accepted, all the parties, including those who have already subscribed, or may subscribe prior to the 1st day of April next, shall be placed on the same footing, by giving to all the option either of the terms offered by them, or on which they have subscribed, or of those offered by any other persons, and which shall have been accepted.
No proposal will be received for a sum less than one hundred thousand dollars. But a commission of one quarter per cent. will be allowed to any person collecting subscriptions for the purpose of incorporating them in one proposal, to the amount of one hundred thousand dollars or upwards; provided that such proposal shall be accepted.
All the proposals must be transmitted by duplicates, one directed to the City of Washington, and the other (under cover of the Cashier of the Bank of Pennsylvania,) to Philadelphia.
Secretary of the Treasury.
UNITED STATES' LOAN.
TREASURY DEPARTMENT, April 15th, 1813.
Those persons who have subscribed to the United States' Loan of Sixteen millions of dollars, prior to the 1st day of the present month of April, are hereby notified, that terms different from those under which they made their subscriptions have been allowed to the persons who have taken the remainder of the said Loan of sixteen millions; and that, conformably to the public notification from this Department, of the 18th of March last, those who subscribed prior to the 1st of April have the privilege of taking the terms thus subsequently allowed; and which terms are as follows, viz: V
1st. That the subscriber shall receive a six per cent. stock, the interest payable quarter yearly, redeemable at the pleasure of the United States, at any time after the end of the year 1825, at the rate of eighty-eight per cent.; or 100 dollars in stock for 88 dollars in money.
Or, 2d. That the subscriber, for every hundred dollars in money shall receive one hundred dollars in the same species of six per cent. stock, and an annuity for thirteen years from the 1st day of January last, of one dollar and fifty cents, payable quarter yearly.
The subscribers who may wish to avail themselves of these terms, will present their scrip-certificates to the Cashier of the Bank, by whom they were issued, and will express, in writing, on the face of the same, which of the above terms they will elect to accept, and will receive from the Cashier
new scrip-certificates conformably thereto; the payments upon which, and funding whereof, are to be effected in the same manner as before.
Such subscribers as have already completed their payments, and obtained certificates of funded stock and annuities on the terms originally proposed, are to surrender the same to the Commissioner of Loans, or to the Register of the Treasury, by whom they were issued, expressing their election in the same manner; and will receive from him certificates of funded stock, and of annuities, as the case may be, in conformity with the election they may thus
Secretary of the Treasury.
View of the Sinking Fund, for the year 1813.
The balance belonging to this fund, remaining unapplied on the 31st December, 1812, (per report of Commissioners, to Congress, of February 6, 1813,) was
The annual appropriation for the year 1813,
There was applied, during the first quarter of the year 1813,
11,550,369 11 1,036,868 28
Leaving to be applied, in the three last quarters of that year $10,513,500 83
The manner in which the amount will be applied in the year 1813, is as follows:
Interest and reimbursement of old six and deferred stocks, estimated at
Interest on exchanged six per cent. stock of 1812,
Ditto on three per cent. stock,
Ditto on 1796 six per cent. stock,
Ditto on Louisiana stock, and charges,
Ditto on six per cent. stock of 1812, including temporary bank loans and some arrearages,
Interest on new stock of 1813,
Principal of temporary loans reimbursable in 1813, Treasury Notes, including those payable on the 1st and 11th January, 1814, which must be provided for by the 31st December, 1813,
Interest on the same,
$3,550,369 11 8,000,000 00
There was paid on account of the above, in the 1st quarter of 1813,
2,160,000 00 180,000 00 485,000 00
5,000 00 680,000 00
700,000 00 470,000 00 1,350,000 00
say 4,010,000 00
Leaving payable in the three last quarters of that year, say 9,000,000 00 And will leave to be applied to the purchase of stock, or to be carried to the Sinking Fund, for the year 1814,
REPORT ON THE FINANCES.
In obedience to the directions of the "Act supplementary to the act entitled An act to establish the Treasury Department," the acting Secretary of the Treasury respectfully submits the following report and estimates. The moneys actually received into the Treasury during the year ending on the 30th September, 1813, have amounted to - $37,544,954 93
Viz: Proceeds of the customs, sales of lands, small branch
of revenue, and repayments,
Proceeds of loans, viz:
Loan of eleven millions under the act of March,
Loan of sixteen millions, under
the act of February 8, 1813, 14,488,125 00 Treasury Notes under the acts of
June 30, 1812, and February 25, 1813,
On account of interest,
As will appear by the annexed statement E., $ 37,544,954 93
Making, together with the balance in the Treasury on the 1st of October, 1812, which was
An aggregate of
The payments from the Treasury during the same period, have amounted to
Viz: For Civil, Diplomatic, and Miscellaneous expenses, both foreign and domestic,
Military Department, including militia and volunteers, and the Indian Department,
Navy, including the building of new ships, and the marine corps,
- 2,362,652 69 $39,907,607 62
As will also appear by the annexed statement E., 32,928,855 19
The accounts for the fourth quarter of the year 1813, have not yet been made up at the Treasury; but the receipts and expenditures, during that quarter, have been nearly as follows:
Receipts from the customs, sales of lands, and small branches of the revenue, about
Loan of sixteen millions,
Loan of seven and a half millions,
Making, with the balance in the Treasury, on the 1st of October, 1813, of
An aggregate of about
The disbursements have been, for Civil, Diplomatic, and Miscellaneous expenses, about
Public Debt, (of which near 6,000,000, was on account of the reimbursement of principal,) And leaving in the Treasury, on the 31st Dec'r, 1813, about
400,000 00 5,887,747 00 1,248,145 10
7,087,994 95 4,685,112 95
Of the sums obtained loan during the year 1813, and included in the receipts above stated, an account of the terms on which they were made, been laid before Congress, excepting as to the Treasury Notes issued under the act of February 25, 1813, and the loan of seven and a half millions obtained under the authority contained in the act of the 2d of August, 1813. The annexed statement, marked F., will show the whole amount received for Treasury Notes during the year 1813, and at what places they were sold or disposed of. Three millions eight hundred and sixty-five thousand one hundred dollars, of the notes issued under the act of June 30th, 1812, be. came due in the course of the year 1813, or in the present month of January, and have been paid off, or the funds placed in the hands of the Commissioners of Loans for that purpose.
The papers under the letter G., will show the measures taken under the act of August 2d, 1813, authorizing a loan of seven millions five hundred thousand dollars, and the manner in which that loan was obtained. The terms were eighty-eight dollars and twenty-five cents in money for one hundred dollars in stock, bearing an interest of six per cent.; which is equivalent to a premium of thirteen dollars thirty-one cents and four-ninths of a cent, on each hundred dollars in money loaned to the United States. Of this sum of 7,500,000 dollars, about 3,850,000 dollars were paid into the Treasury during the year 1813, and the remainder is payable in the months of January and February, 1814.
For the year 1814, the expenditures, as now authorized by law, are estimated as follows:
1. Civil, Diplomatic, and Miscellaneous expenses,
2. Public Debt, viz:
Interest on the debt existing previous to the war, 2,100,000