United States Statutes at Large/Volume 4/19th Congress/1st Session/Chapter 34
Chap. XXXIV.—An Act making further provision for the extinguishment of the debt due to the United States, by the purchasers of public lands.
The provisions of the act of May 18, 1824, ch. 88, and the act explanatory thereof, May 26, 1824, ch. 176, revived and continued in force until July 4, 1827.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the provisions of the act, entitled “An act to provide for the extinguishment of the debt due to the United States by the purchasers of public lands,” approved May the eighteenth, one thousand eight hundred and twenty-four, and the provisions of the act, entitled “An act explanatory of an act entitled an act to provide for the extinguishment of the debt due to the United States by the purchasers of public lands,” approved May the twenty-sixth, one thousand eight hundred and twenty-four, be, and the same are hereby, severally revived and continued in force, in all respects whatsoever, until the fourth day of July, one thousand eight hundred and twenty-seven.
Lands forfeited under the acts of March 2, 1821, ch. 12, April 20, 1822, ch. 30, and May 10, 1800, ch. 55, sec. 5, may be redeemed.Sec. 2. And be it further enacted, That the legal holder of any certificate of lands purchased from the United States, which land has reverted by virtue of the provisions of the act of the second of March, eighteen hundred and twenty-one, or the several acts supplementary thereto; or which, by virtue of the fifth section of the act of tenth of May, one thousand eight hundred, is subject to be sold for the balance due thereon with interest, or which, under the provisions of the said act, has become forfeited to the United States, since the first day of July, eighteen hundred and twenty, and which has not been sold, shall be permitted to redeem the same at any time previous to the first day of May, one thousand eight hundred and twenty-seven, on paying the amount of the purchase money due, exclusive of interest, with a deduction of thirty-seven and a half percent.
If the legal holder of any certificate shall, prior to July 1, 1827, discharge the amount due thereon, he is entitled to remission of interest due at the day of such discharge, &c.
1821, ch. 12.Sec. 3. And be it further enacted, That if the legal holder of any certificate of further credit extended to purchasers of public lands by the act of the second of March, eighteen hundred and twenty-one, entitled “An act for the relief of the purchasers of public lands, prior to the first day of July, eight hundred and twenty,” shall, previous to the fourth day of July, eighteen hundred and twenty-seven, discharge the amount due on such certificate, by relinquishment, or payment, or both, such holder shall be entitled to a remission of all interest due thereon at the day of such discharge, together with a deduction of thirty-seven and a half per cent. on the amount actually paid in cash.
Approved, May 4, 1826.