New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-13
LOAN FOR THE DEFENsE OF THE
Con feSsernte statas

Confederate States,
Five millions of this most adv8ntanaor,, inr,o,.
nent will be offered to the public on the 18th Apri1
ea3uing, and every citizen throughout the ronGed
crate States will have the opportunity OF taking q
share of the benefit, at the same time of sustain
ing the cause Of his country.
Bonds with coupons will be issued in SIMS from
looo to $50, and where it is preferred stock GER
'ileates IN the usual form may be had. The inter
e1 i9 az eight per cent. per annum, payable every
| 7''t months at all our principal cities.
INC uoo' mas the very unusual and mportant Sc
'"+'ry Vi uuy or one.eighth of cent per pound.
CT ABOUT % cents per bale all cotton exported.
This duty, under all circumstances Of naaca nv nor
secures the punctual payment of the interest and
furnishes sinking fund for the rederant;on of tho
principal. The coupons when due are receiyahla
in payment Of the duty on cotton and are Tins
made available as coin, everywhere in our countrv
In order to enable all portions of our peopIe to take
part Of this valuable investment and to EXHIBIT
their common interest in raising funds for the com
mon defense, books of subscription will be openad
at the cities and principal interior towns: five per
cent nrst be paid in cash at the time of qr7T1scrn
ton, and the remainder on or before the 1st Nav
interest to run from the date of such nayrnent
Persons desiring to secure their subscrinfions NAV
pay IN cash the whole amount, and take a recaint
for the delivery of bonds or stock To eoualize
the rate of subscription at all points and to enable
all persons conveniently to subscribe current bant
notes OF the place will be received at their market
value in coin.
In case OF an oVer-subscription, preference will
be given to those who pay down the whole sub
scrptl0n; next to subscribers of $50 next to sub
scTibers Of SlO0.
c. c. MENHTEGER,
Montgomery, March 10th. 1861. - -'1- ''''
For more ample information to all concerned,
copy of the act of Congress is subioined;
AN ACT TO RAISE MONEY FOR THE SUPPORT OF THE
GOVERNMENT, AND TO PROVIDE FOR THE DEFENSE
or THE CONFEDERATE STATES OF AMERICA
SECTION l. The Congress Of The Confederate
ctates o. America do enact, That the President of
the Confederate States be and he is hereby an
thoF'zed, at any time within twelve months after
the passage OF this act, to borrow on the credit OF
the Confederate States, a sum not exceeding fif
teen millions of dollars, Or so much thereof as in
his opinion the eXigencies of the public service
may require, to be applied to the payment OF ap-
preparations made by law for the support of tie
Government and for the defense Of the Confederate
States.
Sec. 2. The Secretary of the Treasury is hereby
authorized, by the consent of the President of the
Confederate States, to to be prepared certi-
cates OF stock or bonds, in such sums as are here
matter mentioned, for the amount to be borrowed
as aforesaid, to be signed by the Register of the
Treasury and sealed with the seal Of the Treasury
and the said certificates of stock bonds shall be
| made payable at the expiration of ten years from
the first day of September next; and the interest
thereon shall be paid semiannually, at the rate of
| eight per cent per annum at the Treasury and
such other places as the Secretary of the Treasury
may designate. And to the bonds which shall be
issued, as aforesaid shall be attached coupons for
| the somi-annual interest which may accrue, which
| coupons may be signed by officers to be appointed
| for the purpose by the Secretary of the Treasury
And the faith of the Confederate States is hereby
| interest of the said stock and bonds.
SEC j. At the expiration of five years from the
first day of September next, the Confederate States
may pay up any portion of the bonds Or stocks
upon giving three months previous public notice
at the seat of Government of the particular stocks
| or bonds to be paid, and the time and place of
payment; and from and after the time so ap-
pointed, no further interest shall be paid on said
stock or bonds.
SEC. 4. The certificates of stock and bonds shall
be issued in such form and for such amounts as
| may be determined by the Secretary of tho Treas
ury, and may be assigned or delivered nnder such
| regulations as he may establish. But of them
shall be for less sum than fifty dollars; and be
shall report to Congress, at its next session, a
statement in detail of his proceedings, and the rate
| at which the loans may have been made, and all
expenses attending the same.
Sec. ). From and after the first day of August,
| 1861, there shall be levied, collected and paid
duty of oneeighth of one cent per pound on all
cotton in the raw state exported from the Conial-
crate States; which duty is hereby specially
pledged to the due payment of interest and primer
pal Of the loan provided for in this act and the
Secretary of the Treasury is hereby authorized and
required to establish sinking fund to carry into
effect the provisions Of this section. Provided
however, That the interest coupons issued under
the second section OF this act, when due, shall be
| receivable in payment of the export duty on cot
ton provided, also that when the debt and in-
tercst thereon, herein authorized to be contracted,
| shall be eXtnguished, the sinking fund provided
| fl,nfY ~,
| said export duty shall cease and determine.
| Approved 2Sth February, 1861.