New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-30
Ne6 0rleans 9aily Grestent.
MORNING, MARoH 40, 1851.
LOAN FOR THE DEFENSE OF THE
Mi Confederate States.


Five millions Of this most advantageous invest
ment will be offered to the public the 18th April
ensuing, and every citizen throughout the Conged-
crate States will have the opportunity OF taking a
share of the benefit, at the same time of sustain
ing the cause Of his country.
Bonds with coupons will be issued in sums from
$1,000 to $50, and where it is preferred, stock GER
jfcates in the usual form may be had. The inter
est is at eight per cent. per annum payable every
six months at all our principal cities.
The debt has the very unusual and important Sc
curty Of duty Of one-eghth of a cent per pound,
or about G2 cents per bale on all cotton exported.
This duty under all circumstances of peace or war,
secures the punctnal payment Of the interest," and
furnishes sinking fund for the redemption of the
principal The coupons when due are receivable
in payment of the duty on cotton, and are thus
made available as coin, everywhere in country.
In order to enable all portions Of ourpeople to take
part of this valuable investment and to exhibit
their common interest inraising funds for 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 subscrp
ton, and the remainder on or before the LIST May
interest to run from the date Of such payment.
Persons desiring to secure their subscriptions may
pay in cash the whole amount, and take receipt
for the delivery of bonds or stock. To equaize
the rate Of subscription at all points, and to enable
all persons convenientyto subscribe, current bank
notes Of the place will be received at their market
value in coin. ss s
In case Of an oyer-subscrption, preference will
be given to those who pay down the whole sub
scrpton next to subscribers of $50 ; next to sub
r. g. g. MEMMINGER. @
Secretary Of Tho. Treasury.
Montgomery, March 10TH 1861. "T '"
For more ample information to all concerned, a
copy Of the act Of Congress is subjoned:
AN ACT 70 RAISE MoNEY FOR THE SUPPORT OF THE
GOVERNMENT, AND no PRorIDE FOR THE DEFENSE
OF THE CONFEDERATE STATES OF AMERLcA.
SECTION /. The Congress Of use Confederate
States of Afperica do enact, That the President of
the Confederate States be and he is hereby au-
thorized, 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 50 much thereof as in
Gsaopinon the exigencies of the public service
may require, to be applied to the payment of ap
preparations made by law for the support OF the
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 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 semi annually 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 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.
SEC. 8. 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.
SFc.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 the ireas-
ury and may be assigned or delivered under such
regulations as he may establish. Butnone OF them
shall be for less sum than fifty dollars; and he
shall report TO Congress, al. 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 one-eghth of one cent per pound on N all
cotton in the raw state exported from the Conted
crate States which duty is hereby specially
nIedred to the due payment of interest ana princ
bal Of the loan provided for in this act F; and the
Secretary of the Treasury is hereby authorized ana
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
receiyahle III payment of the export dnty on cot |
ION provided also, that when the debt and IN |
terest thereon, herein authorized to be contracted
shall be eXtinguished, or the sinking fund PROVIDED
for that purpose shall adequate to mat emu, lhe
said export inty shall cease and determine
Approved 28th February, 1861.
.Peferrinq to the above advertisement for loan |
of FIVE MILLIONS OF DOLLARS to the Confederate |
States together with the act of Congress creating
it, the undersigned, appointed Commissioners,
give notceto the public that books of subscription
for said loan, will be opened at the Citizens Bank
oil Louisiana, on the l7th of April, 1861.
Apart from other considerations, this loan oilers
to subscribers high rate of interest-e1gW per
cent pe,. anuu,n-payable semi annually, and the
highest order of security special appropriation
of an export duty on cotton of oneeighth of
cent per pound-thns presenting inducements
which cannot fail to commend the loan to public
favor as a sound and profitable investment.
SAMUEL SMITH,
JAMES D. DENEGRE,
EHM. j. FoRsTALI,
10 n= - JOHN l. NOBLE
49, Commissioners.