whether actually subscribed to the loan or remaining as registered or funded debt; and since the issuing of certificates has been discontinued, a the commutation has been sought, directly, by special acts, interest in te greater number of cases has been obtained, except where the applicant we in the receipt of an equivalent in the benefits of the act of May, 1828.

Of the whole number, therefore, of those who have yet received the commutation, the number of those who have not received interest, at any rate, is too small to form any noticeable exception, amidst so great uniformi ty, and against the very general result of principle, construction, and pras tice, that has obtained in like cases. Indeed, after considerable examnation, one case only, previous to the act of 1828, has been found where in terest has not been allowed, and but two in which the full rate of 6 pe cent, has been obtained.

The benefits of the act of 1828, it will be observed, cannot be applied to

this case.

The same observations as to the allowance of interest, in the general sys tem which has prevailed in settling claims arising out of the revolution, will hold substantially true in the greater proportion of cases, even in relation to contracts of an ordinary character, originating from motives of mere gain or speculation.

On any comparison, therefore, of principle or practice, it can hardly be acknowledged that any system of policy, propriety, or justice, ought to be permitted to supersede or impair the sacredness of the obligation of express national engagements, made to procure and reward meritorious person services, embracing so much privation and hazard, perseverance and patriotism.

To exclude interest wholly in cases like the present, it will be seen, would be doing what has been seldom done, and would seem to be unjust and unequal towards the petitioners: to allow full six per cent. would also be doing what has been seldom done, and would seem to be unjust and unequal towards all those who have received payment through certificates and the restrictions and limitations of the funding system.

If the proper accounting officers shall be directed, in adjusting and settling this account, to allow so much only for interest as would have accrued had an original certificate for the commutation issued in this case, and been duly subscribed to the domestic debt, and all dividends in such loan were now remaining unclaimed in the Treasury, the petitioners will receive the same measure of justice which has been dealt out to others generally, and Government will pay no more than it would have done had the claim been presented and admitted at any time heretofore, and actually paid at the times proposed in the original fund created for the payment of this portion of the domestic debt.

It has been objected to this view of the subject, that the United States have, from time to time, made appropriations to meet these outstanding claims, and that the loss of interest on the unexpended balances should fal. on the claimants rather than on the Government.

This is, in a great measure, answered by the consideration that these f propriations have not been equal to the amount of such claims really erst ing, and that Government have at all times been paying interest on debts which it could not meet; and that, if these claims had been presented in more accumulated sums, above the ordinary amount, the result must have been to withdraw that excess from the annual appropriations for the redemptjan

of the public debt. This lingering presentation, therefore, of these claims, has not only permitted, but has been the occasion of the application of the funds of Government to the saving of interest equal to this increased redemption of the public debt, and bearing no inconsiderable proportion, probably, to the amount of interest claimed on the later preferred demands, so that, if there should be some fractions of loss, it cannot be greater than should be covered by the indulgence due to such claims, partaking, in some measure, of the incidents from which they arose.

There is another consideration which may have some relation to this view of the subject, founded on the accumulating amount of "unclaimed dividends" in the Treasury, arising out of this class of cases, and out of the transactions of the revolution generally, which, though on acknowledged and liquidated claims, remain neglected or forgotten, a portion of which may never, probably, be claimed or paid, and must eventually, at some time, and in some form, fall into the use, and inure to the benefit of some operations of the Government. Whatever consideration this state of facts is deserving of, cannot, it is presumed, be more fitly applied than in reference to those claims which remain to be liquidated, arising from the same sources, the relics of the same community of suffering, confusion, and loss.

The committee, therefore, report a bill in conformity to the principles suggested.