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In almost all countries and times debtors have been subjected to imprisonment. In the United States even as late as 1829 it was estimated that there were 3,000 debtors in prison in Massachusetts; 10,000 in New York; 7,000 in Pennsylvania; and a like proportion in the other States, many of them imprisoned for small sums. Imprisonment for debt was abolished in the United States by an act of Congress in 1833, though not fully enforced until 1839. Kentucky had previously abolished the law in 1821; Ohio in 1828; Maryland in 1830; New York in 1831. Connecticut abolished the law in 1837; Alabama in 1848.

In 1828 there were 1,088 debtors imprisoned in Philadelphia; the sum total of their debts was only $25,409, and the expense of keeping them $362,076, which was paid by the city, and the total amount recovered from prisoners by this process was only $295. [30]

Interest-bearing debt.

Title of Loan.Authorizing act.Rate.When issued.When redeemable.Interest payable.Amount issued.Outstanding March 31, 1901.
Consols of 1930Mar. 14, 19002 per cent.1900.After Apr. 1, 1930.J., O., J., and A.445,940,750428,993,70016,947,050445,940,750
Loan of 1908-1918June 13, 1898.3 per cent.1898.After Aug. 1, 1908A., N., F., and M.198,792,64046,688,22053,224,72099,912,940
Funded loan of 1907.July 14, 1870; Jan. 20, 1871.4 per cent.1877-1879.After July 1, 1907.J., A., J., and O.740,920,800216,025,95054,333,400270,359,350
Refunding certificates.Feb. 26, 1879.4 per cent.1879.J., A., J., and O.40,012,750............33,570
Loan of 1925.Jan. 14, 1875.4 per cent.1895-1896.After Feb. 1, 1925.F., M., A., and N.162,315,400122,482,55039,832,850162,315,400
Loan of 1904.Jan. 14, 1875.5 per cent.1894-1895.After Feb. 1, 1904.F., M., A., and N.100,000,00012,061,65010,876,75022,938,400
Aggregate of interest bearing debt.1,687,982,340826,252,070175,214,7701,001,500,410

Debt on which interest has ceased since maturity.

Funded loan of 1891, continued at 2 per cent., called for redemption May 18, 1900; interest ceased Aug. 18, 1900.624,850.00
Funded loan of 1891, matured Sept. 2, 1891.71,550.00
Old debt matured at various dates prior to Jan. 1, 1861, and other items of debt matured at various dates subsequent to Jan. 1, 1861.1,073,740.26
Aggregate of debt on which interest has ceased since maturity.1,770,140.26
Bonds issued to Pacific railroads matured but not yet presented: Union Pacific, $12,000; Kansas Pacific, $1,000; total13,000.00

Debt bearing no interest.

United States notes.Feb. 25, 1862; July 11, 1862; Mar. 3, 1863.346,681,016.00
Old demand notes.July 17, 1861; Feb. 12, 1862.53,847.50
National-bank notes:
Redemption account.July 14, 1890.28,703,554.50
Fractional currency.July 17, 1862; March 3, 1863; June 30, 1864, less $8,375,934, estimated as lost or destroyed, act of June 21, 1879.6,877,462.41
Aggregate of debt bearing no interest.382,315,880.41

Certificates and notes issued on deposits of coin and legal-tender notes and purchases of silver bullion.

Classification.In treasury.In circulation.Amount issued.
Gold certificates.Mar. 3, 1863; July 12, 1882; Mar. 14, 1900.28,418,890.00248,286,099.00276,704,989.00
Silver certificates.Feb. 28, 1878; Aug. 4, 1886; Mar. 3, 1887; Mar. 14, 1900.4,634,680.00427,206,390.00431,841,000.00
Treasury notes of 1890.July 14, 1890.152,768.0053,728,232.0053,881,000.00
Aggregate of certificates and treasury notes, offset by cash in the treasury.33,206,338.00729,220,651.00762,426,989.00



Classification.March 31, 1901.
Interest bearing debt.1,001,500,410.00
Debt on which interest has ceased since maturity.1,770,140.26
Debt bearing no interest.382,315,880.41
Aggregate of interest and non interest bearing debt.1,385,586,430.67
Certificates and treasury notes offset by an equal amount of cash in the treasury.762,426,989.00
Aggregate of debt, including certificates and treasury notes.2,148,013,419.67

Classification.Demand Liabilities.
Reserve fund:Dollars.Dollars.Dollars.Dollars.Dollars.Dollars.
Gold coin and bullion...................150,000,000.00Gold certificates.276,704,989.00
Trust funds:Silver certificates.431,841,000.00
Gold coin..........276,701,989.00Currency certificates...........
Silver dollars...........431,841,000.00Treasury notes of 1890.53,881,000.00
Silver dollars of 1890...........1,473,780.00————762,426,989.00
Silver bullion of 1890..........52,407,220.00National bank 5 per cent. fund.13,678,374.61
United States notes. ...................Outstanding checks and drafts.4,906,210.98
————762,426,989.00 Disbursing officers' balances.53,365,288.88
General fund:Post-Office Department account.9,712,467.57
Gold coin and bullion.70,627,753.61Miscellaneous items.2,866,357.37
Gold certificates.28,418,890.00————84,528,699.41
Silver certificates.10,798,235.00————846,955,688.41
Silver dollars.4,634,680.00Reserve fund.150,000,000.00
Silver bullion.2,231,644.61 Available cash balance.158,443,521.89
United States notes.9,791,535.00 ————308,443,521.89
Treasury notes of 1890.152,768.00
Currency certificates.............
National-bank notes.8,945,979.09
Fractional silver coin.9,016,799.25
Fractional currency.143.25
Minor coin.692,547.14
Bonds and interest paid, awaiting reimbursement.11,609.17
In national-bank depositories:
To credit of treasurer of the United States.91,163,055.01
To credit of United States disbursing officers.6,486,582.17


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