Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-09-11
fCIRCULAR.I
CONFEDERATE STATES OF AMERICA.
TREASURY DEPARTMENT,

Richmond, august 22d, 1861.
The Congress of the Confederate States has au-
thorized the Secretary of the Treasury to issue
Bonds to an extent not exceeding one hundred
millions Of dollars for the purpose of funding its
Treasury Notes and for making exchanges for the
proceeds of the sale Of raw produce and manufac
tured articles, and the purchase of specie and of
military stores.
Under the authority of a previous Act the Secre-
tary appointed Commissioners resident in different
sections of the several States to solicit in advance
from planters, manufacturers and others, subscrip
tons of the proceeds of the sale of their crops and
other branches of industry, to be paid for in Bonds
of the Confederate States.
To the patriotic and zeasous efforts of these
Commissioners, less than to the lofty patriotism
of the people, the Government is indebted for an
aggregate subscription which reacher already many
millions of dollars. The liberality of every class
of the community has been evinced The cotton,
the rice, the tobacco and the sugar planters have
We'd with each other, and in the first named staple
alone the subscription in several ofthe States reaches
from one-third to one-half Of the entire CROP
1.is not proposed, as has been frequently explain
ed, to interfere with the usual and customary ar
rangcments of planters and others in making sale
of their produce. This is not necessary 1t is only
asked that each individual shall indicate in advance
the proportion of the same which he is willing to
3
or merchant in whose hands it is to be placed for
sale and who is authorized to pay over the proceeds
and receive in exchange Confederate Bonds. These
Bonds carry interest of eight per cent, payable
semannuay and are not to be issued of less denomi-
nation than one hundred dollars except where the
subscription is for less amount, when the limit is
fixed at fifty dollars The payment Of the principal
and interest of the Bonds is secured, as will be
perceived by special Act of Congress.
The agricultural and manufacturing interests which
have now the opportunity of contributing to the
wants and sustaining the credit of the Government
were not in condition to make cash subscriptions
to the loan previously authorized. Their surplus
capital was already invested, and their command of
resources, in the nature of things, was mainly to
be looked for in the future. Upon such future
resources they are authorized safely to draw, and
the investment proposed, aside from its claims on
the score of patriotism may be regarded altogether
as advantageous and as safe as any other business
transaction.
The time of sale referred to in the caption of the
lists which are sent out is intended to indicate the
usual date at which the crop is brought to market,
and will Of be subject to those considerations
Of mutual interest which would postpone sale
where the property would be sacrificed.
Special agents have been appointed, or will be
appointed, in every County and District Of the South
They will be furnished with subscription lists and
requested to bring the subject before their fellow
citizens in every proper manner, by personal ap-
peals, public addresses, or through the instrument
taty of the press. The results of their labors will
be communicated from time to time to this Depart
ment and 1t IS requested that agents sciU endorse
upon the lists the name Of the Postetee, County and
State to uhichthey belong
The sections of the several Acts of Congress
which relate to the subject of the loan are herewith
annexed.
G. G. MEMMINGER,
Secretary Of the Treasury
AN ACT TO AUTHORIZE LOAN, AND ISSUE OF TREASURY
NOTEs AND PRESCRIBE PUNISHMENT FOR FORGING THE