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Register of the Treasury, on which the interest was payable here. This comprises the stock awarded to parties in this District, principally, if not exclusively. I understand that the stock-books of the Register's office were saved when the Treasury buiding was destroyed, but the correspondence and most of the other papers in regard to the issue of such stock were lost.

Upon this state of facts it is not in my power to inform you who were the contract holders of the stock in question, at the specific period stated by you.

3. In regard to your third inquiry-" Upon what precise terms the second loan, or any subsequent loan for part of said $25,000,000 was made; whether the contractors agreed to pay in money, or in bank paper, or in credits; whether the banks whose paper was received were paying specie, either at the time of the contract or at the time of the payments, or any of them,"-I am unable, for the reason before stated, to furnish further information than is contained in the published documents herein before referred to.

4. For the same reason stated in reply to your second inquiry, it is not in my power to give a specific answer to your fourth inquiry: "To what persons the supplemental stock, being the difference between the rates of the first and second parts of said loan, was issued."

5. Under the circumstances set forth in the commencement of this letter, the only answer which can now be given to your fifth inquiry, "whether the parties receiving the supplemental stock, accepted it in full satisfaction of their claim; and whether any objection was made. upon the ground that the loan of 31st August, 1814, was advanced to the government in depreciated bank paper," is the general presumption flowing from the fact that the supplemental stock appears by the documents to have been issued by order of the Secretary of the Treasury, and received by the parties-there being no correspondence extant showing whether it was received in full satisfaction, or objections made to receiving it as such.

6. In reply to your sixth inquiry, asking the exact form of the certificates issued for the original loan, and of any which may have been subsequently substituted for them-the forms of certificates of the second loan, and of those of the supplemental stock, I have the honor to submit the accompanying report of the Register, of the 17th instant, containing all the information at my command on these subjects. Very respectfully, your obedient servant, JAMES GUTHRIE,

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SIR: In reply to your communication, inclosing "the statement of Jacob Barker, relative to the ten-million loan of May 2, 1814," I have the honor to inform you that there is nothing on file in this

department which will throw any additional light on the claim of Mr. Barker.

There is nothing in the records or files of this office to show that at the time this loan was negotiated by D. A. Smith, the District and Baltimore bills, which the government agreed to receive, were depreciated here. I transmit, herewith, a report from the Comptroller, which states that there are no documents in his office to show that the government were aware of any such depreciation. I am, very respectfully, your obedient servant,

Hon. THOMAS F. FOSTER,

LEVI WOODBURY,
Secretary of the Treasury.

Chairman Committee on the Judiciary, Ho. of Reps.

TREASURY DEPARTMENT,

Comptroller's Office, January 6, 1835.

SIR: I have the honor to state, in answer to the inquiries contained in the Honorable Mr. Foster's letter to you, of the 30th ultimo, and referred, by you, to me, that there does not appear, in this office, any other information on the subject of Mr. Barker's claim than what is embraced in the pamphlet accompanying the letter. There are no documents on file which go to show that "the government knew that the District and Baltimore bills, which it agreed to receive at par, were depreciated at the time of the loan negotiated by D. A. Smith, on 30th August, 1814." I herewith return to you the letter and pamphlet.

I have the honor to be, very respectfully, your obedient servant, JOS. ANDERSON,

Hon. LEVI WOODBURY,

Secretary of the Treasury.

Comptroller.

STATEMENT BY JACOB BARKER, RELATIVE TO THE TEN-MILLION LOAN OF MAY 2, 1814.

TREASURY DEPARTMENT, May 2, 1814.

SIR: The terms upon which the loan has been this day concluded are as follows, viz: Eighty-eight dollars in money for each hundred dollars in stock; and the United States engage, if any part of the sum of twenty-five millions of dollars, authorized to be borrowed by the act of the 24th of March, 1814, is borrowed upon terms more favorable to the lenders, the benefit of the same terms shall be extended to the persons who may then hold the stock, or any part of it, issued for the present loan of ten millions.

Your proposal, of the 30th April, for five millions of dollars of the loan, having been at the above rate, or at a rate more favorable than the above to the United States, has been accepted; and you will please to pay, or caused to be paid, on the 25th day of the present

month, into the bank or banks you have named, or into such as you shall name to the Secretary of the Treasury, on the receipt of this letter, twenty-five per cent., or one-fourth part of the sum above stated, pursuant to the notification from this department, of the 4th of April last, and the remaining instalments on the days fixed in the said notification. You will be pleased, also, on or before the 25th of May, to furnish the cashier or cashiers of the bank or banks, where the payments under your proposal are to be made, with the names of persons in whose behalf the proposal has been made, and the sums payable by each.

The commission of one-fourth of one per cent. will be paid from the treasury, after the payment of the first instalment, on the 25th day of the present month.

I am, very respectfully, sir, your obedient servant,

JACOB BARKER, Esq., New York.

G. W. CAMPBELL.

ELL.

TREASURY DEPARTMENT,
February 28, 1820.

SIR: In obedience to a resolution of the Senate, of the 7th instant, referring the petition of Jacob Barker to this department, I have the honor to submit:

1st. A copy of the conditions upon which the loan of the 2d of May, 1814, was obtained.

2d. A copy of the opinion of the Attorney General, relative to the terms of that loan, of which the petitioner complains.

3d. A copy of the circular of the Comptroller of the Treasury, in conformity with that opinion.

And, 4th. Copies of two letters from the Secretary of the Treasury; one to the petitioner, and the other to Samuel Flewelling, esq., relative to the purchase of bills of exchange upon London and Amsterdam; from the payment of a part of which the petitioner prays to be relieved.

It may be proper to state, that no money was raised by loan, under the act authorizing a loan of $25,000,000, subsequent to the 31st of August, 1814, upon terms more favorable to the lenders than the loan of the 2d of May, 1814.

Without determining that the construction given by the Attorney General to the terms of the loan of the 2d May, 1814, was correct, it was an act of justice to the community to make it known as soon as it was formed. So long as the expectation should be entertained that a loan might be negotiated more unfavorable to the government than those which had been previously obtained, the price of the stock, to which the contingency was attached, would be affected by the possibility of its occurring.

From the letter of the Secretary of the Treasury to the petitioner, relative to the bills of exchange which he proposed to sell to the government, it is manifest that that officer considered the transaction wholly unconnected with the loan obtained from the petitioner. The transaction is expressly declared to be founded upon the principles

which uniformly govern the Treasury in the purchase of bills of exchange. Mr. Flewelling is instructed to purchase bills of the petitioner, provided he offers them upon terms as advantageous to the Treasury as they can be obtained from other persons. The solicitude which is manifested in the letter, that the drawers and endorsers should be solvent, would not have been felt, if the proceeds of the public stock intended to be remitted to London had been considered by the Secretary as materially affecting the transaction. If it should be admitted that the Secretary of the Treasury knew that the petitioner relied upon the proceeds of that stock to meet the demand. created against him by the sale of the bills of exchange in question, it is not perceived that that circumstance could, in any manner, change the nature of the transaction. The bills were clearly taken upon the general credit of the parties to them, and not upon any specific fund which they might contemplate as a means of complying with their engagements.

I have the honor to be, your most obedient servant,
WM. H. CRAWFORD.

Hon. JOHN GAILLARD,

President pro tempore of the Senate.

TREASURY DEPARTMENT,

April 4, 1814.

NOTICE.

Whereas, by an act of Congress passed on the 24th day of March, 1814, the President of the United States is authorized to borrow, on the credit of the United States, a sum not exceeding twenty-five millions of dollars; and whereas the President of the United States did, by an act or commission under his hand, dated the 29th day of March, 1814, authorize and empower the Secretary of the Treasury to borrow, on behalf of the United States, the aforesaid sum of twenty-five millions of dollars, or any part thereof, pursuant to the act of Congress above recited:

Notice is therefore hereby given, that proposals will be received by the Secretary of the Treasury, until the 2d day of May next, from any person or persons, body or bodies corporate, who may offer, for themselves or others, to loan to the United States, on account and in part of the aforesaid sum of twenty-five millions of dollars, the sum of ten millions of dollars, or any part thereof, not less than twenty-five thousand dollars.

The stock to be issued for the money will bear an interest of six per centum per annum, payable quarter-yearly; and the proposals must distinctly state the amount of money offered to be loaned, and the rate at which the aforesaid stock will be received for the same.

The amount loaned is to be paid into a bank or banks authorized by the Treasury, in instalments, in the following manner, viz:

One-fourth part, or twenty-five dollars on each hundred dollars, on the 25th day of May next; and one-fourth part on the 25th day of each of the ensuing months of June, July, and August next.

On the day fixed for the payment of any instalment after the first, all the remaining instalments may be paid.

The sum loaned is to be paid into such bank or banks as may be mutually convenient to the lender and to the government, in the State where the lender resides, if desired by him. The proposals must state the bank or banks into which the lender may desire to make payments.

If proposals, differing in terms from one another, should be accepted, the option will be allowed to any person whose proposals may be accepted, of taking the terms allowed to any other person whose proposals may be accepted.

No proposals will be received for a sum less than twenty-five thousand dollars; but a commission of one-fourth of one per cent, will be allowed to any person collecting subscriptions for the purpose of incorporating them in one proposal to the amount of twenty-five thousand dollars, or upwards, provided such proposal shall be accepted.

If proposals shall be made amounting together to a greater sum than that required, the preference will, on equal terms, be given to those made by persons who were subscribers to the loan of eleven millions in the year 1812.

On the failure of payment of any instalment, the next preceding instalment to be forfeited.

Scrip certificates will be issued by the cashiers of the banks where the payments shall be made, to the persons making the payments; and the said cashiers will endorse on these certificates the payments of the several instalments when made.

The scrip certificates will be assignable by endorsement and delivery, and will be funded after the completion of the payments, upon presentation by the proprietor to the Commissioner of Loans for the State where the payments have been made.

The funded stock, to be thus issued, will be irredeemable till the 31st day of December, 1826, will be transferable in the same manner as the other funded stock of the United States, and will be charged for the regular and quarterly payment of its interest, and for the ultimate payment of its principal, upon the annual fund of eight millions of dollars, appropriated for the payment of the principal and interest of the debt of the United States, in the manner pointed out in the aforesaid act of the 24th March, 1814.

GEORGE W. CAMPBELL,
Secretary of the Treasury.

Case stated by the Secretary of the Treasury for the opinion of the Attorney General.

Under the authority of the act of Congress of the 24th of March, 1814, a notice was published by the late Secretary of the Treasury, dated the 4th of April, 1814, inviting proposals to a loan of ten millions of dollars, part of the loan of twenty-five millions authorized by the act. (See the document B, annexed to the Secretary's report of the 23d of September, 1814.)

On the 2d of May, proposals were presented by sundry persons,

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