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393 1 (1841)

handle is hein.usccsset/usconset37944 and id is 1 raw text is: 27th CONGRESS, Rep. No. 1. Ho. or REPS. 1st Session. NAVY PENSION FUND. [To accompany bill H. R. No. 6.) Jusy 02, 1841. Read, and, with the bill, H. R. Ne. 6, x To provide for the pgyment of Navy pensions, com- mnutgd to a Coornittee pf the Whole lfouge op the st4te of the Union. Mr. WILLIAM B. CAJHOUN, from the Cqmmittee on Naval Affairs, submit- ted the followin- REPORT: The Committee on Naval ./ffairs, on that pa-t of the President's 31es- sage, referred to them, which relates to Navy pensions, report: Under the operation of the act entitled An act for the more eqtitalble administration of the navy pension fund, that fund has been exhausted. On the first of July the sum of $88,706 06 will be required for the payment of navy pensioners; and on the 1st of January next the further sum of ,$69,000. These sums, with $6,000 for arrears of pensions, which will prob- ably be allowed before January next, iake in the whole $163,706 06. Deducting $28,040, now within the control of the Navy Department, the deficiency amounts to $139,ti66 06. On the 3d of March, 1,x37, the principal of the navy pension fund wa s $1,115,329 53. This fund dates its origin from the act of April 23. 1800, which set apart all mono y accruing, or which has already accrued to the United States from the sale of prizes, as a find forever fir the payment of pensions and hall pay, to snch (fficers and seamen as should be entitled to receive the same: and the public faith was pledged to make up any de- ficiency in the fund. By numerous subsequent acts, pensions have been granted to widows and children of officers, seamen, and marines, kill d or dying of wounds received in the line of their duty, and also to the widows and children of officers, seatnen, and iarines, who died in the naval service during the late war. The act of the 3d March, 1817, granted pensions to the widows and chil- dren of officers, seamen, and marines, dk ing, or who have died since June, 1812, of disease contracted, or of casualties or injuries received while in the line of duty. This act was repealed in 1524 because of its drawing too largely upon the fund. The act of 3d March, 1837. grants pensions to widows and clildren of all officers, seamen, and marines, who have died or may hereoftfsr die in the naval service, without discrimination or limit:tion. Under the operation of this act, in connexion with the depreciation of some of the stocks coin- Gales & seatn, print.