2076. DEBT (United States), Reduction of.—[further continued].
The receipts * * * during
the year * * * have amounted to
near fifteen millions of dollars, which have
enabled us, after meeting the current demands,
to pay two millions seven hundred
thousand dollars of the American claims, in
part of the price of Louisiana; to pay of the
funded debt upward of three millions of principal,
and nearly four of interest; and in addition,
to reimburse, * * * nearly two
millions of five and a half per cent. stock.
These payments and reimbursements of the
funded debt, with those which have been
made in four years and a half preceding, will,
at the close of the present year, have extinguished
upward of twenty-three millions of
principal.—
Sixth Annual Message. Washington ed. viii, 67.
Ford ed., viii, 493.
(Dec. 1806)
