United States Statutes at Large/Volume 2/7th Congress/2nd Session/Chapter 8
[Obsolete.]
Chap. VIII.—An Act making further provision for the expenses attending the intercourse between the United States and foreign nations.
Further appropriation for foreign intercourse.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That a sum of two millions of dollars, in addition to the provision heretofore made, be, and the same is hereby appropriated for the purpose of defraying any extraordinary expenses which may be incurred in the intercourse between the United States and foreign nations, to be paid out of any money in the treasury, not otherwise appropriated, and to be applied under the direction of the President of the United States, who shall cause an account of the expenditure thereof to be laid before Congress, as soon as may be.
President authorized to borrow the money.
The terms and time of reimbursement.Sec. 2. And be it further enacted, That the President of the United States may, if he shall deem it necessary, and he hereby is authorized to borrow the whole, or any part of the said sum, at an interest not exceeding six per centum per annum, reimbursable before the year one thousand eight hundred and eleven: and it shall be lawful for the Bank of the United States to lend the whole, or any part of the same.
Surplus of duties on imports and tonnage pledges for the payment of interest and reimbursement of principal.Sec. 3. And be it further enacted, That so much as may be necessary of the surplus of the duties on imports and tonnage, beyond the permanent appropriation heretofore charged upon them by law, shall be, and hereby is pledged and appropriated for the payment of the interest, and reimbursement of the principal of all such monies as may be borrowed in pursuance of this act, according to the terms and conditions on which the loan or loans may be effected.
Approved, February 26, 1803.