United States Statutes at Large/Volume 1/5th Congress/2nd Session/Chapter 64
Ante, p. 552.
Section 1. The President may accept vessels offered on the credit of the U. States; whereupon be may cause evidence of the debt or obligation to be given therefor. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the President of the United States shall be, and he is hereby authorized to accept, in behalf of the United States, of the proposals of any persons who shall offer and undertake to complete, provide and deliver, to the use, and upon the credit of the United States, on terms, in his opinion, advantageous or convenient, any vessel or vessels, now building, or to be built within the United States, of a model and size which he shall approve, and armed and equipped, or suitable to be armed for the public service: and upon the delivery of the vessel or vessels, according to such proposals, or to the acceptance of the President of the United States, he may cause proper certificates, or other evidence of the debt or obligation of the United States incurred thereby, to be made and given at the treasury department, and which shall be there registered, to the use and benefit of the persons concerned: Provided,Limitation to twelve vessels. that not more than twelve vessels, in addition to those already authorized, shall and may be procured, by virtue hereof: And provided,No more than six per cent. to be allowed on credits. that not more than six per cent. per annum, shall be allowed for any credit which shall be given under this act. And all certificates of debt shall be redeemable at the will of Congress.
Sec. 2. Rates of the ships of war to be procured or accepted.
Ante, p. 552. And be it further enacted, That the vessels authorized by the act, intituled “An act to provide an additional armament for the further protection of the trade of the United States, and for other purposes,” and those which shall be authorized by this act, shall be procured and accepted according to the following rates, as nearly as may be; that is to say—six of them not exceeding eighteen guns each, and twelve of them not less than twenty, or exceeding twenty-four guns each, and six not less than thirty-two guns each; and the guns for each vessel, to be of such caliber and weight of metal, as the President of the United States shall approve; any thing in the said former act, to the contrary hereof, notwithstanding.
Sec. 3. The President may accept of vessels given to the use of the U. States. And be it further enacted, That the President of the United States may, at his discretion, accept of any vessel armed and equipped, or suitable to be armed, of a model, size and force proper for the public service, which any state, body politic or corporate, citizen or citizens of the United States, shall voluntarily offer and give, for the use of the United States, to increase the naval armament.
Sec. 4. The President may regulate the rank, pay, &c. of officers, and number of men to be employed,&c. And be it further enacted, That the President of the United States shall be, and he is hereby authorized to determine and direct, according to the rate of each vessel which shall be furnished or accepted in pursuance of this act, the rank, pay, and subsistence of the commissioned and warrant officers, who shall be appointed thereto; and the number of men to be engaged, and the pay to be allowed them, not exceeding the proportionable grades and allowances which are or shall be authorized by law, for the navy of the United States. And all officers of the said navy, according to their respective ranks, shall be appointed in the manner prescribed by the act, intituled 1794, ch. 12.“An act to provide a naval armament.”
Sec. 5. The President may vary the quotas of seames, landsmen, &c. And be it further enacted, That the President of the United States may, at his discretion, increase or vary the quotas of seamen, landsmen and marines, to be employed on board the frigates, and may permit a proportion of boys for them, and the other vessels of the navy of the United States, according to the exigencies of the public service.
Approved, June 30, 1798.