The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-05-21
ACTS PASSED Br THE CONFEDERATE CONGRESS
MONTGOMERY Nsv1- 1871

~ Of the Treasury may with the assent of
tbe president OF the Confederate States, issue
nifty millions OF dollars in bonds, payabie at |
the expiration OF twenty wears from their
date, and bearing a rate OF interest not exceed
ing eIsht per cent. per annum, until they b.
come payable the said interest to ha IVA },f..
annually. The said bonds after pUblic ad-
vertlsement in three newspaper within the
Confederate States for six weeks to be sold
Tor specie, military stores, or for the proceeds
OF sales o! raw produce or Inanufac tured ar
ncies, 20 be paid In the form of sDecip or
with foreign bills of exchange. IN such man
ner and under such rrgu lations AZ NAV be pre-.
scTIbed by the Secretary Y of the Treasury, with
the ASCENT OF the President. But it shall De
the duty OF the Secretary Of the Treasury To
report, AZ its next ensuing session, 10 the Con
gress of the Confederate States, q precise
statement OF his transactions under this law
Nor shall the said bonds be issued in fraction
al parts OF the hundred. CT be exchanged Dy
the said Secretary for treasury notes, or thp
notes of any bank, corporation, CT indi vduai,
but only in tne manner herein presCri bed
PfOr{ ord, that nothing herein contained shall
os 50 construed as TO prevent the Secretary OF
the Treasury from receiving foreign bills OF
exchange IN payment OF these bonds.
SIC. =. AHd be IL further enacted. That in
lieu OF bonds 10 an amount not exceeIing
twenty millions Of doliars, the Secretary OF
the Treasury, with the assent Of the President.
NAV issue treasury notes to the same amount
without interest. ana III deEomlna tloHE OF not
less than live doiIars, the said notes TO be re-
ceivabie in payment OF All debts or taxes due
duty on cotton, or IN exchange for the boads
her IN an hOrized 10 be issued. The s'id notes
shall be ptvab at the end OF Two wears from
the date OF their Issue, in specte The holder,
of said notes Inay at any time demand IL eX-
change for them bonds of the Confederate
States, payable at the end Of ten years, AMI
bearing an inteeest Of eight per centuIn
per annum, to be paid semi annually
The Secretary Of the Treasury is hereby
authorized 10 Issue the said bonds
but not in fractional parts ot the hun
dTed. But II. after the expiration OF two
years, W hen the Treasury Notes shall be due,
the Secretary Of the ITessary shall advertise
that he VIII do the same. ther TIRE privilege Of
funding shall cease after SIX months from the
date Of the advertisement, unless there shall
be failure to pay the same On thei- pcesenta-
tiOn.
SIC. 3. APd be It further c4G~fsf, That in
lieu Of The notes authorized by TINS act W itch
may be redeemed, other notes Inly ae issued
within thr period Of ten years. rs aforesaid ::
Pr0ridtd, hove fer, that The amount of such
notes Gu ut~ t1ndlDg, together with ths STOCK n
which the Treasury notes m4y have been
tGnced under the provisions OF ibis act. shall
not exceed the amount OF twenty millions Of
dollars. But the Secretary Of the Treasury
may, upon application Of holder CT - bond
| thus iuutet, redeem Il by giving IN eN, haBge
Treasury notes issued under the provisions Of
| this act, 20 such extyut ae that the entire
amount OF notes then issued, together y Ith The
| amount OF The bonds n which they may have
| been funded. shall not exceed twenty millions
| OF dollars.
| SEC 1 Aad 5e II Furtter snacted, Thai the
! faith Of the Confederate States Is hereby
pledged TO provide and ests bIsh sufficient
! revenues for the regular payment OF the In
/ terest aud FOR the redemption OF the said stock
| aud Treasury notes. And the principal sunl
| borrowed under the provisions Of thi- act,
| and the Interest thereon, tue ~ me sh u,
| from time 10 time, become duo and p+yauie,
| snail be paid out ot any mOpey in the Irea5u-
| ry not otherwise appropriated.
SEC. . An1 be il faTthcr e12ctGG. Thai this
Act p hall Sa dp pCi1rtl tD All
visions, limitations and penalties OF the act
| entitled IAN act to authorize the Issue OF
| Trea Il ~ notes. and 10 presCi iba thS punish
m"ut tor forging the same, and tor forging
| certificates OF stOCGs, bonds or ,Gu pOns 70 aua
| approved March 9Jb, 1891, wnlch shall be
considered parts o! This act, save the first, sec
| ond, aud tenth sections, and save 20 much as
| relates 10 Interest BpOn Treasury notes.
SgC. g. A,jd bs ttfUrti"F enacted, rhlt fOT
| the pGrpoe" % issuing ten millions of dollars
! within the present calendar year, and OF pro-
yiding for the ultimate redemption OF the
! deb herein authorized to D. contracted, the
Secretary Of the Treasury Is hrrtby directed
/ TO collect information ia regard TO the valne
| Of The property, the revenue system, and the
| amount collected during the lat fiscal year
! in each O; the Confederate States, Aud to re-
| port the same to Congress q. lts next Sc sion,
! &C to enable II - lay Z ft}r, equal and con
yeniei.t system OF Internal taxation for the
| purpose CT securing III" ayment ol the inter
| and the principal OF the debt hereby
authorized TO be created, IN sUch manner ~
| may fully discharge the obligation herein
| con traC ted by ne pledge Of the iaith OF the
! Con nt-derate States to pay the principal ald
| intErcst Of the said DE- pt when Que
| SEQ :. ind bs II further enacted, That any
| State may pay into the Treasury, in ,uticipa-
| tiOn of the tax aforesaid, any sum not less
| than one hundred thousand dollars In specie,
! or lis eQui yaIent. and il the same be paid on
! or before the itt day of July next, tie said
! State shall be allowed TO set OF the s1ma with
| ten per cent. additional from the quota 10 be
assessed upon the sali State,
Aa Act to amend IN Act, entitled "An Act 70
tax the pay OF the memh her6 OF the Congress
of the Confederate States of america" -
| Approved March IL, 1851.
SEC / The Congress If the Confederate States
| Of iF1ericH do enact, That the above entitled
| acr, approved March Il, 1901, be- SO amended
and construed as 10 provide that, In computing
the mileage 10 which members are entitled, the
distance shall be estimated by the usual rou te
Of travel from the res idenCe OF the member to
the place where Congress may assemble.
SEC. :. Bs tt fIrtAeT enacted, That This act
shall take effect and be of force from its pas.
| sage.
| An act IN relation to the Coafe3srate loan.
Whereas, Under and by virtue OF the act 10
raiss mouty for the support OF the Govern
ment, and to provide for the expenses of the
| Confederate States of America, approved
| Feb. IS, 1891, the Secretary OF the treasury
| did proceed 10 offer ttvs millions OF said loan,
| coEtornabiy 10 the provisions of said act ,
| and, hereas, in many portions Of the Con-
| federate States, the currency Was and is COM
| posed of notes of Banks that have suspended
specie payment, not of necessity, but as a
! measure of public policy and, whereas, GER
tain of said Banks did agree 10 redeem in coin,
| or Its equivalent, such of their notes IS
| should be paid In by subscribers To such loan /;
| and, whereas, the Secretary of the Treasury,
| In view of the expenses of the times and
| with desire To give all the people Of all pa-tg
| of the Confederate States the opportunity OF
| subscribing to said loan, did authorize the
I EsNEr1 tn1a.ylt tSltn n IA Af
| the Banks herein before referred to, and 70
| avoid Inconvenience and the risk OF transt {
| has authorized the said Loan Commis siOners
| To deposit th6 moneys received by them In
| said Banks now, therefore,
| The Congress OF the Con federate States of
! America do enact, That all the acts ana dotngs
| of the Secretary of the Treasury, OF his subcr-
! dinate officers and of the Loan Commission
| ers, consistent with the facts Tecited IN tue
| foregoing preamble, are hereby confirmed and
| made valid any law, usage or custom 10 tAs
! contrary Notwithstanding; and the said Sec
| re tsry, his subordinate officers, and the Loan
| Commissioners, are hereby authorized 10 con-
| tnue SO 10 act in regard 10 the said loan untIi
| the whole amount au thori2ed by said act shall
| have been fully subscribed for, and their du-
| ties regarding the same shall have been de-
| termined and the said Secretary Is author
| lied 10 make and continue the deposits OF
| MONEYS received, or 10 be received, on account
| OF said loan in any OF the said Banks and the
| Treasurer of the Confederate States Is author
| ICED TO draw checks or warrants on said Banks
on account OF said deposits, payable either in
| coin or its equivalent, or in current Bank
| notes, as the Secretary Of the Treasury may
direct,
| EpwIs DRLEoY When the news of the
| election of Lincoln first reached Egypt, las
| early as the 81 of January last Mr.. Edwln
| DeLeon, Consul General OF Egypt at once
| wrote the Department al Washington ana ah-
| c0adntoaaliy sending in his resignation, TO
| take etiecI on the ( tn of March Being among