338.

ACT OF MARCH 2, 1798.

1 Stat. L., CHAP. XXV.-An act providing for the payment of the first instalment due on a loan made of the Bank of the United States.

[Obsolete.]

pay first install

of United

States.

Be it enacted by the Senate and House of Representa tives of the United States of America in Congress assemPresident bled, That the President of the United States be, and he may apply certain monies to hereby is authorized and empowered to apply two hunment to Bank dred thousand dollars, of the monies which may have been borrowed, in pursuance of the fourth section of the act, intituled "An act making provision for the re1790, ch. 47. duction of the public debt," in payment of the first instalment, due to the Bank of the United States, upon a loan made of the said bank, in pursuance of the eleventh section of the act for incorporating the subscribers to the said bank.

372.

Approved, March 2, 1793.

ACT OF JUNE 4, 1794.

1 Stat. L., CHAP. XL.-An act providing for the payment of the second instalment due on a loan made of the Bank of the United States.

[Obsolete.]

dent of United

SECTION 1. Be it enacted by the Senate and House of Representatives of the United States of America in ConPres 1gress assembled, That the President of the United States States to pay be, and he hereby is authorized and empowered to apply ment to the two hundred thousand dollars of the proceeds of foreign foreign loans. loans heretofore transferred to the United States, in pay

second install

bank out of

ment of the second instalment due to the Bank of the United States, upon a loan of the said bank, made pursuant to the eleventh section of the act for incorporating Annual pe- the subscribers to the said bank: and that the annual riod for payment of each period for the payment of each instalment of the said installment. loan, shall be deemed to be the last day of December in

tion for pay

said loan.

each year.

Appropria- SEC. 2. And be it further enacted, That a sufficient sum ing interest on of the dividends, which have accrued, or which shall hereafter accrue, on the stock owned by the United States, in the Bank of the United States, be, and the same is hereby appropriated to the payment of the interest, which has, or shall become due, on the loan obtained, as aforesaid.

Approved, June 4, 1794.

ACT OF JUNE 5, 1794.

376.

CHAP. XLVI.-An act to authorize the President of the 1 Stat. L., United States during the recess of the present Congress, to cause to be purchased or built a number of vessels to be equipped as galleys, or otherwise, in the service of the United States.

Appropriation therefor.

dent author

SEC. 3. And be it further enacted, That there be appropriated for the purpose aforesaid, the sum of eighty thousand dollars to be paid out of the proceeds of any revenue of the United States, which now are, or hereafter during the present session shall be provided, not being otherwise appropriated. And that the President of the United States Pres I be authorized to take on loan of the Bank of the United ized to borrow $80,000. States, or of any other body politic or corporate, person or persons, the said sum of eighty thousand dollars, to be reimbursed, principal and interest, out of the said proceeds, appropriated as aforesaid, according to such contract or contracts, which shall be made concerning the

same.

Approved, June 5, 1794.

ACT OF JUNE 9, 1794.

CHAP. LXIII. An act making appropriations for certain purposes therein expressed.

1 Stat. L., 395.

dent of the

to borrow

a

SEC. 2. And be it further enacted, That the President, Pres!of the United States be empowered to borrow, on behalf United States of the United States, of the Bank of the United States sum. (which is hereby authorized to lend the same), or of any other body or bodies politic, person or persons, any sum not exceeding in the whole, one million of dollars to be ap- Not exceed plied to the purposes aforesaid, and to be reimbursed, as well interest as principal, out of the proceeds of the said

revenues.

ing $1,000,000.

to be reserved.

SEC. 3. Provided always, and be it further enacted, Certain sum That there shall be reserved out of the proceeds of the said revenues, a sum sufficient to pay the interest of whatever monies may be borrowed pursuant to the act, intituled "An act making further provision for the expenses 1794, ch. 7.

attending the intercourse of the United States with foreign nations; and further to continue in force the act, intituled "An act providing the means of intercourse between the United States and foreign nations;" and such sum is hereby pledged and appropriated for that purpose, according to the terms of the contract or contracts which shall or may be made concerning the said monies. And the faith of the United States is hereby pledged to make such further provision therefor, as may be necessary.

Approved, June 9, 1794.

ACT OF JANUARY 8, 1795.

1 Stat. L., CHAP. XI.—An act providing for the payment of certain

409.

[Obsolete.]

stalments of

paid.

instalments of foreign debts; and of the third instal ment due on a loan made of the Bank of the United States.

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assem Certain in bled, That the President of the United States be, and he debt, how to be hereby is authorized and empowered to cause any instalments of the foreign debts, which may fall due in the year one thousand seven hundred and ninety-five, and also the third instalment due on a loan made of the Bank 1791, ch. 10. of the United States, in pursuance of the eleventh section of the act for incorporating the subscribers to the said bank, to be paid out of the proceeds of any foreign loans heretofore made.

418.

Approved, January 8, 1795.

ACT OF FEBRUARY 21, 1795.

1 Stat. L., CHAP. XXV.-An act for the reimbursement of a loan authorized by an act of the last session of Congress.

[Obsolete.]

Bank of SECTION 1. Be it enacted by the Senate and House of authorized to Representatives of the United States of America in Con

United States

lend.

gress assembled, That the Bank of the United States be, and the same is hereby authorized to lend to the United States, the whole, or any part of the sum of eight hundred thousand dollars (remaining unapplied) in pursuance of the authority granted to borrow one million of dollars, by the act, intituled "An act making further pro

vision for the expenses attending the intercourse of the United States with foreign nations; and further to continue in force the act, intituled "An act providing the means of intercourse between the United States and foreign nations.

1794, ch. 7.

certain reve

ated.

SEC. 2. And be it further enacted, That after reserving Surplus of such sums as may be sufficient to satisfy prior appropria- nues appropri tions, there be further appropriated, in aid of the provision heretofore made, out of the proceeds of the duties which have arisen, or may arise upon carriages for the conveyance of persons; upon licenses for selling wines and foreign distilled spirituous liquors by retail; upon snuff and refined sugar; and upon property sold at auction; which were imposed by acts passed during the last session, and which may be further continued, the present session of Congress, or from the proceeds of such duties or revenues as may be established in lieu thereof, a sum sufficient to the reimbursement, before the year one thousand eight hundred and one, of any loan or loans, which have been, or which may hereafter be made, in virtue of the act aforesaid: And that the faith of the United States be, and the same is hereby pledged, to make good any deficiency of the said duties.

Approved, February 21, 1795.

ACT OF JUNE 1, 1796.

CHAP. LI.—An act making appropriations for the support of the Military and Naval Establishments for the year one thousand seven hundred and ninety-six.

1 Stat. L., 493.

funds payable.

(Section 2 makes reference to authority of Bank of Out of what United States to make a loan.)

President of United States

$650,000 to sat

SEC. 3. And be it further enacted, That the President of the United States be empowered to borrow, at an interest not exceeding six per centum, of the Bank of the United may borrow States, which is hereby authorized to lend the same; or of isfy this act. any body or bodies politic, person or persons, any sum or sums not exceeding in the whole, six hundred and fifty thousand dollars, and to be applied to the purposes aforesaid, and to be reimbursed, as well interest as principal, out of the funds aforesaid.

Approved, June 1, 1796.

15712-10-19

1 Stat. L., 573.

609.

ACT OF JUNE 27, 1798.

CHAP. LXI. (This act prescribes a penalty on forging or uttering counterfeit bills, notes, orders, or checks by or upon the Bank of the United States, which was repealed by the act of February 24, 1807 (Chap. XX, 2 Stat. L., 423) which see.)

ACT OF JULY 16, 1798.

1 Stat. L, CHAP. LXXXIV.-An act making certain appropriations; and to authorize the President to obtain a loan on the credit of the direct tax.

The Presi

dent may bor

lions on the

rect tax.

SEC. 2. And be it further enacted, That the President row two mil- of the United States shall be, and he is hereby authorized credit of the di- to borrow of the Bank of the United States, who are hereby enabled to lend the same, or of any other corporation, persons or person, the sum of two millions of dollars, upon the credit, and in anticipation of the direct tax, laid and to be collected within the United States; which tax shall be, and is hereby pledged for the repayment of any loan which shall be obtained thereon, as aforesaid; and the faith of the United States shall be, and is hereby pledged to make good any deficiency: Provided, That the interest to be allowed for such loan, shall not exceed six per centum per annum; and that the principal shall be reimbursed at the pleasure of the United States. Approved, July 16, 1798.

726.

ACT OF MARCH 2, 1799.

1 Stat. L., CHAP. XXXI.—An act giving eventual authority to the President of the United States to augment the Army.

Repealed

1802, ch. 9.

for the pur

(Sections 1 to 8 provide for augmenting the military force, including volunteers, etc.)

Appropriation SEC. 9. And be it further enacted, That for the exposes of this ecution of this act, if it shall be found necessary to carry thority to bor- it, or any part of it into effect, there be appropriated the

act, and au

row money.

sum of two millions of dollars, and that the President be authorized to borrow, on behalf of the United States, the said sum, or so much thereof as he shall deem necessary (which the Bank of the United States is hereby empowered to lend) and upon such terms and conditions as