The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-22
THE SOUTHERN LOAN.
CIRCULAR OF TUE SECRETARY OF THE TREASURY OF
THE REBEL STATES.
CONFEDERATE STATES or AMERICA.

CIRCULAR OF TUE SECRETARY OF THE TREASURY OF
THE REBEL STATES.
CONFEDERATE STATES OF AMERICA J
TREASURY DEPARTMENT, RICHMOND, Aug. %, 1861
The Congress Of the Confederate States has authorized
the Secretary of the Treasury to issue bonds to
not exceeding hundred millions Ct dollars for the pur
pose of funding its Treasury notes. and for making ex
changes for the of the sale Of produce and
manufactured articles and the purchase Of specie and mil
Under the authority previous act the Secretary up
pointed commissioners resident in different sections Of
the several States to solicit in advance planters
manufacturers and others subscriptions OF the
the sale Of their crops and other branches of industry
be paid for in bonds Of the Confederate States.
To the patriotic and Jealous efforts of these commits
less than to the lofty patriotism of the peope
which reaches already many millions of dollars. The H.
berality OF every class of tho community has been
cvnced The cotton the rice the tobacco and the sugar
planters have We'd with each othe and in the first named
staple alone the subscription in several of the States
reaches from onehrd to onshalf of the entire crop.
II Is not proposed has been frequently explained to
interfere with the usual and customary arrangements 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 which
he is willing to subscribe tho time place of delivery
tho factor merchant in whose hands II Is be placed
for SALE and who is authorized to pay the proceeds
and receive in exchange Confederate bonds Tie bonds
carry interest of eight per cent payable semi annually
and are not to be Issued of less denomination Than
hundred dollars except where the subscription Is for
less amount when tho limit is fixed at nfty dollars.
The payment OF the principal and interest OF the bonds
is secured as will be perceived by special act Of Con-
gress.
The agricultural and manufacturing interests which
have now the opportunity Of contributing to the wants
and sustaining the credid Of the government not in
condition to mako cash subscriptions to the loan pre-
yiousy authorized Their surplus capital already
invested, and their command of resources, in the
urc OF things mainly be locked for the future
Upon such future they authorized safely
draw, and the investment proposed aside from its
claim on the OF patriotism may be regarded
gehcr as advantageous and safe any other business
transaction.
The time of sale referred to in the caption Of the lists
which sent out is intended to indicate the
at which the crop brought market will of course
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 APPOINT
ed in every county and district Of the South. They will
be furnished with subscription lists and requested
bring the subject before their fellow citizens in every
proper Manner by personal appeals public addresses
through the fundamentally the press Tho results Of
their abors will be communicated from tme time to
this department. and is requested that agents will
dorse upon the lists the name OF the Post Office county
and State to which they belong.
The sections Of tho several acts Of Congress which
late TO the subject Of the loan herewith annexed.
c. G. MEMMlNGER, Secretary of the Treasury
BILLS PASSED BY THE REBEL CONGRESS.
AN ACT AUTHORIZE LOAN, TREASURY NOTES.
AND PRESCRIBE TIE PUNISHMENT FOR FORGING SANE AND
FOR FORGING CERTIFICATES or STOCKS AND BONDS.
Section l. The Congress Of the Confederate States Of
America do enact That the Secretary Of the Treasury
with the assent Of the President Of the Confederate
States, issue fifty millions Of dollars in bonds payable at
tho expiration Of twenty years from their date and
ing rate Of interest not exceeding eight cent
paid miannnally The said bonds after public adver-
tisemen in three newspapers within the Confederate
States for six weeks to be sold for Specie military stores
for the proceeds Of sales Of produceor manrfactur
ed articles, to be paid in specie bills Of exchange
such and under such regulations as may DO
scrbed by the Secretary Of the Treasury report its
next ensuing session TO the Congress Of the Confederate
States precise statement Of his TRANSACTIONS under this
law. Nor shall the said bonds be issued In fractona,
parts Of the hundred be exchanged by the said
ary for Treasury notes. or the notes Of any bond corpo
ration or but only In the manner herein pre-
inod ehoiI
be construed as TO prevent the Secretary OF the easu
ry from receiving foreign bills Of exchange payment Of
A BILL ENTITLED AN ACT 10 AUTHORIZE The ISSUE OF
TREASURY NOTES, AND 10 PROVIDE WAR TAX FOR THEIR
Section l. The Congress Of the Confederate States of
America do enact the Secretary OF the Treasury be-
and he hereby authorised from time time as the
public necessities may require TO issue Treasury notes.
payable to bearer at the expiration Of six months after
the ratification of treaty Of between the Coufede
rate States and the United States the said notes to be OF
any denomination not less than five dollars be re-
issuabe at pleasure until the same payable but the
whole issue outstanding At one time, including the
amount issued under former acts shall exceed one
hundred millions Of dollars the said shall be re-
ceivabe payment Of the tax hereinafter provided
cotton and shall also be received in payment Of the sub
scrptions Of the net proeds Of sales Of produce
and manufactured articles.
Sec That for tho purpose of funding the said notes.
and for making exchange for the proceeds OF the sale of
produce and manufactured articles or for the pur
chase of specie military stores the Secretary of the
Treasury with assent of the President Is authorized to
issue bonds payable than twenty years after
date and bearing rate OF interest not exceeding eight
per centum per annum until thoy become payable the in
terest to be paid semannuay the said bonds ex
coed in the whole hundred millions Of dollars and 10
be deemed substitute for thirty millions Of the bonds
authorized to be issued by the act approved May 49, 1851
and this act to be deemed revocation OF the authority
to issue the said thirty millions The said bonds shall not
fractional parts Of hundred except when the subscrp
tion s less than hundred dollars the said bonds may
be issued in sums Of fifty dollars They may be sold for
SPECIE military and naval stores, for the proceeds Of
produce and manufactured articles, in the
ner Is provided by the aforesaid and whenever
subscriptions Of the have been OF shall be made
payable at particular date the Secretary the Trea
sury shall have power to extend the time of sale until
such date as he shall see 1T to indicate.
Sec. 4-That for fhe special purpose Of paying the
principal and interest OF the pubic debt and II support
ing the government tax shall DO assessed le
WED OF fifty cents upon each hundred dollars In value Of
the following property &C., &c. tAct August, 1851