New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-05
DAN F0E THE DEFENSE 0F TIE
Il <st:ssatg srafe #SfaTes


rnent VIII be offered to the public on fhe 18th April
ensuing, aud every citizen throughout the Confed-
crate States will have the opportunity of taking q
share of the benefit at the same time af sustain
ing the cause Of his country.
Bonds with coupons viii be iaaued fn sums from
$1,000 TO $50, and where II Is preferred stock GER
tifcates in the usuai form may be had The inter
eat is at eight per cent. per anD1m, payable every
six months at all our principal cities.
The debt has the very unusual and important se-
curity of duty Of one-eighth Of cent per pound,
or about 62 cents per bale on all cotton exported
This duty, under all circumstances of peace or war
secures the punctual payment of the interest, ans
furnishes sinking fund for Tie redenp of the
principal. The coupons when due are receivable
in payment of the duty on cotton and ard thus
made available as coin, eyerywhere ia our country
In order to enable all portions ofour people % take
part of this valuable investment and TO exhibit
their common interest in raising funds the com
mon defense, books of subscription will be opened
at the cities and principal interior towns five per
cent must be paid in cash at the time Of subscrip
ton, and the remainder on or before the LIST aa
interest to run from the date Of such payment
Persons desiring to secure their snbscrpt tions may
pay in cash the whole amount, and take receipt
for the delivery of bonds or stock. 10 equaEize
the rate of subscription at all points, and enable
all persons conveniently to subscribe current bank
notes of the place will be received at their market
value in coin.
In case Of an over-aubscripton, preference viii
be given to those who pay down the whole sub-
scription; next to subscribers of $40 NEXT 70 sub
scribers Of $100.
Secretary Of sle. Treasury.
Montgomery March 10Th, 1851
Tor more ample information to all concerned,
copy Of the act of Congress is subioined
AN ACT TO RAISE MONEY ron THE SUPPORT OF THE
GOVERNMENT, AND To PROVIDE ron THE DEFEssR
OF THE CONFEDERATE STATES or AMERICA.
SECTION /. The Congress of he Confederate
States of america do enact That the President Of
the Confederate States be and he il hereby aa-
thorized at any time within twelve months after
the passage OF this act 70 borrow, on the credit of
the Confederate States, sum not exeseding ff-
teen millions of dollars 80 much thereof as in
his opinion the exigencies OF the public service
may require, TO be applied to the payment ssof ap-
propriations made by law for the support of the
Government and for the defense OF the ConiedeFate
States.
SEC Q. The Secretary of the Treasury is hereby
authorized by the consent OF the President of the
Confederate States to cause to be prepared Eerti-
fcates of stock or bonds in such sums az 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 or 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 semi annually at the rate Of
| eight per cent. per annuni, at the Treasury and
such other places the Secretary of the Treasury
may designate. and 70 the bonds which shall be n
issued, as aforesaid, shall be attached coupons for
| the semi-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
| pledged for the due payment Of the principal and
| interest of the said stock and bonds.ss
SEC. 8. AT the expiration of five years from the
| frstday of Septembern the Confederate States
may pay up any portion OF me bonds aa STOCKS
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 lime 80 ap-
pointed no further interest," shaH pc pala On sald
| stock or bonds.
SEQ. a. The certificates Of stock and bonds shall
| be issued in such form and for such amounts as
| NAV be determined by the Secretary of the Treas
4 ury and may be assigned or delivered under sueh
regulations as he may establish. But none Of them
shall be for less sum than, fifty dollars and he
shall report TO Congress-. at its next session, a
statement in detail of his edipgs and the rate
at which the loans may have been made, and all
expenses attending the same
Sec s. From and after the first day ef August,
1861, there shall be levied. collected and paid D.
duty Of one-eighth of one cent per pound on all
cotton in the raw state exported from the Gonfed-
crate States; which dnty is hereby specially
pledged to the due payment of interest and prineI-
pal Of the loan provided for in this act and the
Secretary of the Treasury IS hereby authorized and
required to eStablSil q SINKING lula TO carry lnt0
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 dnty on cot
ton provided. also, that when the debt and III
erest thereon, herein authorized to be contracted,
shall be extnguished, or the sinking fund provided
for that purpose shall be adequate to that end the
said export duty shall cease and determine.
Approved 29th February, 1851.
Referring to the above advertisement for loan
of FIVE MffEIoNs OF DOLLARS to the Confederate
States, together with the act of Congress creating
it, the undersigned, appointed Commissioners,
give notice to the public that hooks Of
for said loan, will be opened Mt the Citizens Bank
of Louisiana, on the nth Of April, 1856
Apart from other consideration this loan offers
to subscribers high rate Of intere eight PEI.
cent. per annum-payable semiannually, and the
highest order of security special appropriation
of an export duty on cotton Of one-eighth of Q
cent per pound-thus presenting inducements
which cannot fail TO commend the loan to public
favor as sound and profitable Investment.
~ SAMUEL SMITH, a
2a,- JAMES ID, DENEGRE,
.,r.l ERMJ. FORSTALI,
| JOHN !, NOBLE.
\ Commissioners
NEW ORLEANS, March 60. 1851 mas29 tapH