States, as far as they could be ascertained, amounted to $42,000,375, and the annual interest was computed at $2,415,956. No provision had been made for the payment of the interest, and there was no plan in operation to redeem the principal; the faith of the government was doubted, and the evidences of the public debt were reduced to about one eighth of their nominal value. The estimated amount of the debt, according to the report of the secretary of the treasury, in 1790, was $79,124,464. $25,000,000 of this were proposed to be assumed on account of the several states. $11,710,378 was the amount of the principal and interest of the foreign debt; $40,414,085 was the principal and interest of the liquidated part of the domestic debt. The unliquidated part, which consisted chiefly of continental bills of credit, was not ascertained, and was estimated at $2,000,000. In 1790, the public debt was funded. $600,000 were annually reserved from the duties on merchandise imported, and the tonnage of vessels, or so much thereof as might be appropriated from time to time for the support of the government of the U. States, and their common defence, and so much of the residue of the duties aforesaid as might be necessary was appropriated to the payment of interest on loans made in foreign countries, and also to the payment of interest on such further loans as should be obtained for discharging the arrears of interest thereupon, and the whole or any part of the principal thereof. The appropriations were to continue until these sums should be fully paid. The president was authorized to borrow $12,000,000 to discharge the arrears of interest, and the instalments of the principal of the foreign debt. The U. States reserved the right to reimburse any of the sums so borrowed within fifteen years after the same should have been lent. To provide for the domestic debt, a loan to its full amount was directed to be proposed. The sums subscribed were payable in the certificates issued for the domestic debt, according to their specie value, and computing the interest upon such as bore interest to the 31st of Decenber, 1790, inclusively. The subscribers received two kinds of certificates, one for two thirds of the sum paid in the certificates just mentioned, bearing an interest of six per cent., payable quarter-yearly, and redeemable at pleasure, in payments not exceeding, in any one year, for principal and interest, eight dollars for each hundred mentioned in the certificate. This first stock was afterwards called old

six per cents. The other certificate for the remaining third, which, after 10: was to bear interest, and be redeema→ on the terms just mentioned. For st of the sums subscribed as were paid in the interest of the said domestic debt, or in the certificates issued in payment of interes the subscriber received a certificate for a sum equal to that paid in, bearing three per cent. interest, payable quarter-year, and redeemable whenever provi should be made by law for the purpose. This was called deferred six per cents. T stocks thus created were transferable or 'y on the books of the treasury, or on these of the commissioners of loans, upon whew 25 the credit of the same should exist at the time of the transfer, unless by spec al warrant from the secretary of the treasury, The interest was made payable where the credit of the stock should exist at the time of its becoming due. If not demaned before the expiration of a third quarter it was afterwards demandable only at 1treasury of the U. States. To provide ď the debts of the respective states, a let of $21,500,000 was authorized, to be pe in the evidences of debt which had bee issued by the states. For four ninths of ary sum thus subscribed, the subscriber recened a certificate bearing six per cent, interest and subject to the same conditions as thos of the first sort mentioned under domestr debt; for two ninths, another certifest bearing six per cent. interest after 1 payable quarterly, and redeemable above-mentioned, and for the remai three ninths, a certificate bearing three per cent. interest, and redeemable when prevision should be made by law for the pes pose. Various stocks for small unser ** were created in 1795, 1796, 179. These were reimbursed in 1806, 1×07 and 1** with the exception of $80,000 transteret, to the national debt. In 1863, the Lone iana six per cent, stock was created ** the payment of the purchase of Louses from France. Certificates for $11,250, were issued, bearing an interest of six je* cent. The principal was made reimburs able in four annual instalments, pava the first in 1818, the last in 1821. Besson this sum, claims of American citizens e the French government, to the amount 4 $3,500,000, were also assumed by the sa tional government on account of the Lasisiana purchase, and added to the nat- es debt. Feb. 11, 1807, the government of the U. States proposed to the holders of six per cent, deferred and three per cert stocks, to exchange the same for sex per cent. stocks, redeemable at the pleasi

of the government. This was done with a condition "that no single certificate should issue for a greater amount than $10,000, and that no reimbursement should be made, except for the whole amount of any such new certificate, nor till after six months, at least, previous notice of such intended reimbursement." The holders of three per cent. stock were to receive new certificates for sums equal to sixty-five per cent. of the principal of the stock, bearing an interest of six per cent. The amount of unredeemed and deferred six per cent. stock subscribed was $6,294,051, and the stock thus created was called exchanged six per cents; the three per cents, subscribed at sixty-five per cent., produced $1,859,850, which was called converted six per cent. stock. More erchanged stock was created in 1812, by the surrender of nearly 3,000,000 of the old and deferred six per cents. In 1812, additional stock was created by borrowing money to the amount of $8,134,700 at six per cent., reimbursable after twelve years from Jan. 1, 1813. In 1813, more six per cent. stock, to the amount of $26,607,959, was created by borrowing an additional amount, reimbursable after twelve years from Jan. 1, 1814. In 1814, six per cent. stock, to the amount of $15,954,619, was added, reimbursable after twelve years from December, 1814. Under acts of Congress of the years 1812, 1813, 1814, and 1815, treasury notes were issued to the amount of $36,680,794, of which there had been paid off, by December, 1816, $32,980,794, leaving unpaid in January, 1817, $3,700,000. The whole amount of the debt remaining unpaid Jan. 1,1817, was estimated at $112,107,862, of which $75,450,930 was contracted during the war; the remainder, contracted before the war, was $36,656,932. In March, 1817, congress passed an act to provide for the redemption of the public debt. By this, all acts making appropriations for the purchase or reimbursement of the principal, or for the payment of the interest of the funded debt, are repealed, and the annual sum of $10,000,000 is appropriated to the sinking fund, and a further sum of $9,000,000 is appropriated for that year. The act also provides that, after the year 1817, any sum in the treasury above the annual appropriations shall be appropriated to the sinking fund, with the exception of so much as will leave in the treasury at the end of the year the amount of $2,000,000. The debt now went on diminishing till 1821, when it stood at $89,987,427; but the purchase of Florida, in that year, for $5,000,000, increased it,

so that it stood, in 1822, at $93,546,676. In March, 1821, five per cent. stocks, redeemable after January, 1835, were created to the amount of $4,735,296. In May, 1824, four and a half per cents to the amount of $1,739,524 were created, redeemable after January, 1832, and, in the same year, four and a half per cent. exchanged stocks were created to the amount of $4,454,727, redeemable after December, 1832 and 1833. In 1825, the public debt had been reduced to $83,788,432; in 1828, to $67,475,622; in 1830, to $48,565,405; in January, 1832, to $24,282,879 funded, and $39,355 unfunded.

XII. South American Stocks. The new S. American states, as Buenos Ayres, Chile, Colombia, several years ago, obtained loans in London. These have greatly depreciated, or have merely a nominal value.

Fraser's Magazine for January, 1832, contains an article entitled the Stock Exchange, the object of which is to show the enormous amount of capital drawn from England in nine years, beginning, say, with 1822, in the shape of loans and joint stock subscriptions. From the facts there presented, the following table has been prepared. The first column of figures shows the amount loaned; the second, the rate per cent. at which the loans were made; the third, the present value per cent.

ily of the Swedish ambassador. In this situation, which continued for eight months, he employed himself in studying the works of Grotius and Hobbes on law and government. The result of his labors appeared at the Hague in 1660 (Elementa Jurisprudentia universalis). The learned elector of the palatinate, Charles Louis, to whom it was dedicated, was so much pleased with this work, that he founded for the author, in 1661, a professorship of the law of nature and nations, the first in Germany. Here he taught till 1670, when the king of Sweden, Charles XI, offered him the professorship of natural law in the new university at Lund. He there wrote his work on natural law (De Jure Nature et Gentium, Lund, 1672), which superseded the former, and is characterized by perspicuity, method, and sound reasoning; soon after appeared the smaller compendium, or rather abstract of the above work, De Officio Hominis et Civis (Lund, 1673), which has passed through innumerable editions, and been translated into several languages. Pufendorf, in these works, deviated still further than Grotius from the scholastic method of philosophizing, and, consequently, excited violent opposition. However different opinions may be respecting these works of Pufendorf, it is not to be denied that he made an epoch in the history of natural law. He had a more distinct conception than Grotius of a science, which, independently of positive law or theology, should determine the rules of right solely by the laws of reason. His law of nature was a philosophical morality, settling the mutual relations of justice between men, and which still remained dependent on the Christian morality. With Grotius, he laid the foundation of law in the social instinct, which is nearly allied to the Christian precept of love of our neighbor, and with Hobbes, he derived law from the state of fallen nature. Pufendorf also made an epoch in the German public law. While professor in Heidelberg, he wrote, at the suggestion of the elector, under the name of Severinus a Monzambano, the celebrated book, De Statu Reipublicæ Germanica, which he sent to his brother, then Swedish ambassador in Paris, to be printed. It represents Germany as a republican body, whose clumsily joined parts formed an anomalous whole. This book was violently attacked, and Pufendorf, who defended it with energy, did not think it advisable to avow himself as the author. He afterwards went to Stockholm, where he was appointed secretary of state, royal

counsellor and historiographer. There he wrote, in Latin, the History of Sweden, from the campaign of Gustavus Adolphus in Germany, to the abdication of queen Christina (De Rebus Suecicis-1676), and the History of Charles Gustavus (De Rebus a Carolo Gustavo gestis-2 vols., fol., 1696), and, in German, his Einleitung zur Geschichte der vornehmsten Reiche und Staaten (1682, 2 vols.), subsequently continued by Ehlenschlager and translated by Martinière into French. These works so much increased his reputation, that, in 1686, he received from Frederic William, elector of Brandenburg, an invitation to Berlin as counsellor, historiographer and judge of the supreme court of judicature, with the charge to write the life of that prince, which he finished under the reign of his son, Frederic III. In 1690, he was made privy counsellor of the elector of Brandenburg, and, in 1694, was created baron by Charles XI, king of Sweden. He died at Berlin, in 1694.

PUFFIN (puffinus). These birds, which also bear the name of petrel, are completely aquatic, living constantly at sea, and scarcely ever seen on shore; they, however, fly well, and keep on the wing for a long time; they chiefly seek for their prey, which is exclusively fish, at twilight or in stormy days. They breed socially, forming their nest in the ground, which they excavate by means of the sharp nails of their feet. The female lays one egg. The young, when excluded from the shell, is covered with a long down. They are found in all the high latitudes, furnishing the wretched inhabitants of these frozen climates with food and clothing. Three species are found in America:P. cinereus (petrel or puffin); bill more than two inches long, depressed at base, compressed where the point swells; tail cuneiform; tarsus two inches long; color, light cinereous; wings and tail blackish ash, beneath white; common on the banks of Newfoundland, but also found in all parts of the world: P. anglorum (shear-water petrel); bill an inch and three quarters long, very slender; tail rounded; wings reaching beyond its tip; color, glossy black, beneath pure white; inhabits the northern seas of both continents; rare in the U. States, but very common in the Hebrides: P. obscurus (dusky petrel); bill an inch and a quarter long, very slender; tail rounded; the wings reaching to its tip; tarsus little more than an inch long; color, glossy brownish black, beneath white. This species, which it is by no means easy to distinguish from the two

others, inhabits the temperate and torrid zones, and is never found to the north; it is very rare in the U. States.

PUGATSCHEFF, Jemeljan; the son of a Cossack, born at Simoweisk, a village on the Don, in 1726, played, for a short time, an important part in Russia. War and robbery were the employments of his youth, and he became the leader of a predatory band. He afterwards entered the Prussian service during the seven years' war; then joined the Austrians, served against the Turks, and was present at the siege of Bender (1770). Returning to his native country, he attempted to sow the seeds of rebellion among his countrymen, but was soon arrested and confined at Kasan. Having made his escape, he was joined by some restless spirits, and was encouraged, by his personal resemblance to the lately deceased emperor, Peter III, to attempt to pass himself off for that emperor. His adherents pretended that the corpse which had been exposed as Peter's was in fact that of a soldier resembling him; that the emperor had escaped in disguise, and had at last appeared in the midst of his faithful Cossacks, by whose support he expected to be restored to the throne. The insurrection began in the middle of August, 1773, when a manifesto was issued in the name of the pseudo-Peter. The number of his followers, which was at first only nine, had increased in September to 300. He was every where joined by his countrymen and the peasantry, to whom he promised deliverance from their oppressions. His force was increased by 500 deserters from the garrison of Jaizkai, and many Roskolnicks (q. v.), and he took several fortresses, practising the most shocking cruelties. His army now amounted to 16,000 men, and was gaining strength by the concourse of Bashkirs, Watiaks, Tartars, &c. He captured Kasan, the old capital of the empire, and passed the Volga. He was at length defeated, at the moment that Moscow was threatened, betrayed by his followers to Suwarroff, and, June 10, 1775, executed, together with the other rebel leaders, at Moscowthe only instance of capital punishment in the reign of Catharine. Thus ended this rebellion, which cost more than 100,000 lives. PUGET, Pierre, a celebrated French sculptor, architect, and painter, born at Marseilles in 1622, was at an early age placed with a ship-builder, but soon after went to Italy, and displayed such marks of talents as to attract the notice of Cortona (q. v.), who instructed him in painting. He returned to Marseilles in 1643;

and there are several pictures from his pencil at Aix, Toulouse, and Marseilles, which are much admired. His design is correct, and his figures graceful, but his coloring is cold. In 1655, being obliged by his health to abandon painting, he thenceforward devoted himself to sculp ture and architecture, in which he received no instruction. His success in these departments of art was complete. He lived some time at Genoa, where he executed numerous works in statuary and architecture, and, in 1669, was recalled to France by Colbert, as director of the ornaments of ships of war, in which capacity he was employed in carving figures, bas-reliefs, &c. But he soon returned to labors more worthy of his genius, and produced a great number of works in marble, which have gained for him the appellation of t Michael Angelo of France. Puget died at Marseilles in 1694.

PUGILISM. (See Gymnastics.)
PUGLIA. (See Apulia.)

PULAWSKI, Count Joseph; a distinguished Pole, who, after attempting in vain to restore the independence of his own coun try, entered the American service. Pulawski had followed the profession of the law, and, in 1768, was at the head of the patriots who formed the confederation of Bar. Eight noblemen only constituted the first assembly of that confederation, and of these three were the sons and one the nephew of Pulawski. (See Poland) In 1771, at the head of a few accomplices, he seized the person of the king (see Poniatowski); but, the latter having procur ed his liberation, Pulawski was condemn ed to death, and obliged to save himself by flight. He soon after came to America, and offered his services to the U. States against the mother country. Being ap pointed brigadier-general in the American service, he served both in the northern and in the southern army. October 9, 1779 he was mortally wounded in the attack on Savannah, and died two days afterwards.

PULCI, Luigi, an Italian poet, born at Florence in 1431, was the youngest of three brothers distinguished for their talents and learning. Of the circumstances of his life we know nothing but that i lived in terms of intimacy with Lorenzo de' Medici and Politian. His epic poem. Il Morgante Maggiore, in which he relates the adventures and exploits of Rinalde and the giant Morgante, is said to have been written at the suggestion of Lorenzo's mother, and to have been read, as a entertainment, at table. Pulci cannot bear a comparison with Ariosto and Tas