(ACT of May 11th, 1820.)

(who may not be entitled to the same, under the resolution of congress of the 27th of March, one thousand eight hundred and eighteen,) the president and vice president of the United States, the executive of each state and territory, the attorney general and judges of the courts of the United States, and the colleges and universities in the United States, each one copy; for the use of each of the departments, viz: state, treasury, war, and navy, twe copies each; for the use of the senate, five copies, and for the use of the house of representatives, ten copies, of the volumes containing the journal, acts, and proceedings, of the convention which formed the present constitution of the United States; and that the residue of the copies of said journal be deposited in the library of congress, for the use of the members.

RESOLUTION of April 21, 1820. Pamphlet edit. 118. 16. The secret journal, together with all the papers and documents connected with that journal, and all other papers and documents heretofore considered confidential, of the old congress, from the date of the ratification of the definitive treaty of peace between the United States and Great Britain, in the year one thousand seven hundred and eighty-three, to the formation of the present government, now remaining in the office of the secretary of state, shall be published under the direction of the president of the United States, and a thousand copies thereof shall be printed and deposited in the library, subject to the disposition of congress.

RESOLUTION of May 8, 1820. Pamphlet edit. 74.

17. The secretary of state is hereby directed to transmit one copy of the journal of the federal convention at Philadelphia, in one thousand seven hundred and eighty-seven, which formed the constitution of the United States, to each of the members, now alive, of the said convention.

ACT of May 11, 1820. Pamphlet edit. 69.

18. SEC. 1. The secretary of state shall, as soon as conveniently may be, after he shall receive any order, resolution, or law, passed by congress, except such orders, resolutions, and laws, as are of a private nature, cause the same to be published in a number of public newspapers, not exceeding one in the District of Columbia, and in not more than three newspapers in each of the several states and territories of the United States. And he shall also cause to be published, in like manner, in the said newspapers, all public treaties entered into and ratified by the United States, except Indian treaties, which shall be published only in one newspaper, and that to be within the limits of the state or territory to which the subject matter of such treaty shall belong.

19. Sec. II. The first section of the act entitled “An act to provide for the publication of the laws of the United States, and for other purposes," approved the twentieth of April, one thousand eight hundred and eighteen, is hereby repealed: Provided, That

ACT of August 4th, 1790.)

such repeal shall not be construed to prevent the payment of any compensation that may be due for the publication of the laws, previous to the promulgation of this act.

PUBLIC DEBT.

Appropriation of funds, 1, 11, 19, 36, 40 | Louisiana stock,

Foreign debt funded in 1790,
Domestic debt 1790,

Old 6 per cents.,

Three per cents.,

21

Loan of 21,000,000,

Deferred 6 per cents.,

Pledge of funds,

10, 24, 37, 40

Six per cents of 1815,

32

Loan of two millions, 1790,

13

Treasury notes,

35,

38

16

Loan of 1820,

39

18

Five and a half, and 44 stocks,

Six per cents. of '96,

ACT of August 4, 1790. 2 Bioren, 123.

An act making provision for the debt of the United States.

Whereas justice, and the support of public credit, require that provision should be made for fulfilling the engagements of the United States, in respect to their foreign debt, and for funding their domestic debt upon equitable and satisfactory terms:

1. SEC. 1. [Six hundred thousand dollars annually reserved for the support of government; the rest of the revenue appropriated to the payment of the public debt. See Infra 36, 37.]

2. And as new loans are, and will be, necessary for the payment of the aforesaid arrears of interest, and the instalments of the principal of the said foreign debt, due and growing due, and may also be found expedient for effecting an entire alteration in the state of the same:

SEC. II. The president of the United States is hereby authorised to cause to be borrowed, on behalf of the United States, a sum or sums not exceeding, in the whole, twelve million of dollars; and that so much of this sum as may be necessary to the discharge of the said arrears and instalments, and (if it can be effected upon terms advantageous to the United States) to the paying off the whole of the said foreign debt, be appropriated solely to those purposes: And the president is, moreover, further authorised to cause to be made such other contracts respecting the said debt, as shall be found for the interest of the said states. Provided, nevertheless, That no engagement nor contract shall be entered into which shall preclude the United States from reimbursing any sum or sums borrowed within fifteen years after the same shall have been lent or advanced.

And whereas it is desirable to adapt the nature of the provision to be made for the domestic debt to the present circumstances of the United States, as far as it shall be found practicable, consis

(ACT of August 4th, 1790.)

tently with good faith and the rights of the creditors, which can only be done by a voluntary loan on their part:

3. SEC. III. A loan, to the full amount of the said domestic debt, is hereby proposed; and books, for receiving subscriptions to the said loan, shall be opened at the treasury of the United States, and by a commissioner to be appointed in each of the said states, on the first day of October next, to continue open until the last day of September following, inclusively; and that the sums which shall be subscribed thereto, be payable in certificates issued for the said debt, according to their specie value, and computing the interest, upon such as bear interest, to the last day of December next, inclusively; which said certificates shall be of these several descriptions, to wit:

Those issued by the register of the treasury.

Those issued by the commissioners of loans in the several states, including certificates given pursuant to the act of congress of the second of January, one thousand seven hundred and seventy-nine, for bills of credit of the several emissions of the twentieth of May, one thousand seven hundred and seventy-seven, and the eleventh of April, one thousand seven hundred and seventy-eight. Those issued by the commissioners for the adjustment of the accounts of the quartermaster, commissary, hospital, clothing, and marine departments.

Those issued by the commissioners for the adjustment of accounts in the respective states.

Those issued by the late and present paymaster general, or commissioner of army accounts.

Those issued for the payment of interest, commonly called indents of interest.

And in the bills of credit issued by the authority of the United States in congress assembled, at the rate of one hundred dollars in the said bills, for one dollar in specie. [The time limited in this section was successively enlarged by several acts until December thirty-first, one thousand seven hundred and ninety-seven.]

4. SEC. IV. For the whole, or any part of any sum subscribed to the said loan, by any person or persons, or body politic, which shall be paid in the principal of the said domestic debt, the subscriber or subscribers shall be entitled to a certificate, 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 twothirds of the sum so paid, bearing an interest of six per centum per annum, payable quarter yearly, and subject to redemption by payments not exceeding, in one year, on account both of principal and interest, the proportion of eight dollars upon a hundred of the sum mentioned in such certificate; and to another certificate, 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 proportion of thirty-three dollars and one-third of a dollar upon a hundred of the sum so paid, which, after the year one thousand eight hundred, shall bear an interest of six per centum

(ACT of August 4th, 1790.)

per annum, payable quarter yearly, and subject to redemption by payments not exceeding, in one year, on account both of principal and interest, the proportion of eight dollars upon a hundred of the sum mentioned in such certificate: Provided, That it shall not be understood that the United States shall be bound or obliged to redeem in the proportion aforesaid; but it shall be understood only, that they have a right se to do.

5. SEc. v. For the whole, or any part of any sum subscribed to the said loan by any person or persons, or body politic, which shall be paid in the interest of the said domestic debt, computed to the said last day of December next, or in the said certificates issued in payment of interest, commonly called indents of interest, the subscriber or subscribers shall be entitled to a certificate, purporting that the United States owe to the holder or holders thereof, his, her, or their assigns, a sum to be specified therein, equal to that by him, her, or them so paid, bearing an interest of three per centum per annum, payable quarter yearly, and subject to redemption by payment of the sum specified therein, whenever provision shall be made by law for that purpose.

SEC. VI. [Commissioners of loans to be appointed. See title COMMISSIONERS of LOANS, ante page 123.

6. SEC. VII. The stock which shall be created pursuant to this act, shall be transferable only on the books of the treasury, or of the said commissioners respectively, upon which the credit for the same shall exist at the time of transfer, by the proprietor or proprietors of such stock, his, her, or their attorney: but it shall be lawful for the secretary of the treasury, by special warrant, under his hand and the seal of the treasury, countersigned by the comptroller, and registered by the register, at the request of the respective proprietors, to authorise the transfer of such stock from the books of the commissioner, to those of another commissioner, or to those of the treasury, and from those of the treasury to those of a commissioner.

7. SEC. VIII. The interest upon the said stock, as the same shall become due, shall be payable quarter yearly, that is to say: Onefourth part thereof on the last day of March; one other fourth part thereof on the last day of June; one other fourth part thereof on the last day of September; and the remaining fourth part thereof on the last day of December, in each year, beginning on the last day of March next ensuing; and payment shall be made wheresoever the credit for the said stock shall exist at the time such interest shall become due, that is to say: At the treasury, if the credit for the same shall then exist on the books of the treasury, or at the office of the commissioner upon whose books such credit shall then exist: But if the interest for one quarter shall not be demanded before the expiration of a third quarter, the same shall be afterwards demandable only at the treasury.

And as it may happen that some of the creditors of the United States may not think fit to become subscribers to the said loan:

(ACT of August 4th, 1790.)

SEC. IX. Nothing in this act contained, shall be construed in any wise to alter, abridge, or impair, the rights of those creditors of the United States who shall not subscribe to the said loan, or the contracts upon which their respective claims are founded; but the said contracts and rights shall remain in full force and virtue.

8. SEC. XI. A loan shall be proposed, to the amount of twenty-one million and five hundred thousand dollars, and subscriptions to the said loan received at the same times and places, and by the same persons, as in respect to the loan hereinbefore proposed concerning the domestic debt of the United States. And the sums which shall be subscribed to the said loan, shall be payable in the principal and interest of the certificates or notes, which, prior to the first day of January last, were issued by the respective states, as acknowledgments or evidences of debts by them, respectively, owing, except certificates issued by the commissioners of army accounts, in the state of North Carolina, in the year one thousand seven hundred and eighty-six. [proportion to be received from each state fixed.]

9. SEc. xv. For two-thirds of any sum subscribed to the said loan, by any person or persons, or body politic, which shall be paid in the principal and interest of the certificates or notes issued as aforesaid, by the respective states, the subscriber or subscribers shall be entitled to a certificate, purporting that the United States owe to the holder or holders thereof, or his, her, or their assigns, a sum to be expressed therein, equal to two-thirds of the aforesaid two-thirds, bearing an interest of six per centum per annum, payable quarter yearly, and subject to redemption by payments, not exceeding in one year, on account both of principal and interest, the proportion of eight dollars upon a hundred of the sum mentioned in such certificate, and to another certificate 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 proportion of thirty-three dollars and one-third of a dollar upon a hundred, of the said twothirds of such sum so subscribed, which, after the year one thousand eight hundred, shall bear an interest of six per centum per annum, payable quarter yearly, and subject to redemption by payments, not exceeding in one year, on account both of principal and interest, the proportion of eight dollars upon a hundred of the sum mentioned in such certificate; and that, for the remaining third of any sum so subscribed, the subscriber or subscribers shall be entitled to a certificate, 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 said remaining third, bearing an interest of three per cent. per annum, payable quarter yearly, and subject to redemption by payment of the sum specified therein, whenever provision shall be made by law for that purpose.

SEC. XVI. The interest upon the certificates which shall be received in payment of the sums subscribed towards the said loan, shall be computed to the last day of the year one thousand seven hundred and ninety-one, inclusively; and the interest upon the