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The New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
What is this article about?
Philadelphia, June 24: A correspondent proposes using $100,000 to ransom American sea captains enslaved in Algiers instead of debating 4% vs. 6% interest on certificates, which many captives originally owned but were forced to sell cheaply.
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A correspondent takes the liberty of asking through the medium of the Federal Gazette, whether the credit of the United States would not be more effectually promoted by an appropriation of 100,000 dollars for the purpose of redeeming the brave sea captains and others, who languish in slavery, in Algiers, than the idle dispute whether 4 or 6 per cent should be paid to the purchasers of certificates, especially when there is great reason to believe, that many of those very certificates were once the property of those sea captains, and forced upon them by Congress for not more than an eighth part of their nominal value.
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Letter to Editor Details
Author
A Correspondent
Recipient
Federal Gazette
Main Argument
the credit of the united states would be better promoted by appropriating $100,000 to redeem brave sea captains and others enslaved in algiers than by debating whether to pay 4 or 6 percent interest to certificate purchasers, especially since many certificates were originally the property of those captains and forced on them by congress at a fraction of their value.
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