Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-09-01

. o.,
An act to authorize oan the sus OF treasury noes and
to prescribe the punhasn for forging tie same, and for
tlr ing certificates Of stock aud bonds.
Congress Of the Confederate States Of America
doenact That the Secretary q the reasaTy may ih tAe assent
dollars IN bonds payable at the expiration Ct twenty years nom
their dae and bearing rate Of i1tee not ding eight per
pc paa snaannuay' Inc sad Donas aer public advertise
men in three pewspapes within the COnederae States for SIX
produce or arc 70 be paid in
the form Of specie witt foregh bills Of exchange such
reaTy Of the Treasury the President
shall be die day Of the Secretary the Treasury report
States precise OF his Transactions under this
Nor sha he said bonds issued in fractional parts Of the hun
dd be exchanged by the sad Secretary Treasury notes.
the notes Of bank corporation individual but only il
the manner hereia prsscrbed Provided That thing here
contained sha be Construed prveRt the Secretary 81
the Treasury from receiving foreign bills Of exchangen payment
SEC e. And be further enacted That in lieu Of SOnds TO an
amount not exceeding twenty million OF dollars the Secretary
Treasury the amount without interest," and in de
nomination Of not ess five dOllahe said notes to be
States except The export duty cotton in exchange for h
bonds herein authorz be issued The said ties shall b
eyabie al the end Of two ears from the dse Of issue
Specie holders said may any time demand il
exchange them bonds Of the Confederate statss payable
the end Of ten years bearing per
per annum, to be paid annually The Secretary of tn
Treasury hereby authorized to Issue said bonds but not
fractional parts Of the hundred But the expiration
two years the Treasury shah due Secretary
Of the Treasury advertise that be viii pay the tina
the privilege Of funding shall cease after six months from tn
date OF advertisement unless there shall failure pa
tie same theT presentation.
Sac g. And further enacted That lieu OF the notes
horzed by this act which may BE- redeemed other notes
Issued within the period Of ten years Aforesaid Provided
hoyever That Of R0es OHanding togehsT
IN which the said treasury notes have bee
founded the provisions q this shall not exceed the
of twenty million ofdSliar Bst Secretary the Treasur
may upon application Of the holder Of bend thus founded
1eieem It by giving in exchange treasury izsue
unrr the provisions Of this act to such extent that the
tire amount OF then istusd, egeher with the
the which they may have been fuzd, shall exec
twenty millions 81 dollarS.
Sac Ana be further esaetsd That the faith Of Cor
federaie hereby pledged provide and establish suf
cientreysuues regular payment Of the interest," aud
The redemption Of the sad stock and Treasury notes
principle borrowed under the provisions Of this act and Il
est thereon, the shall oll time become
payable, shall be paid Of in ths oil
| erWise appropriated.
SEC And b, urtsr enacted That shall be deems
TO contain the Eroyisens limitations and penalties Of the
entitled to authorize the issue Of Treasury notes, and
prescribe punshs fer forging the same, and for orgT
Of stocks bonds and approved March
1901 which shall be considered parts Of this act the fin
and tenth sections and much relates to inere
| upon Treasury notes
SEC G. And BE further enacted That for the purpose
raising million OF dollars within the present calender
and Of providing for the ut mate redemption the debt here
authorized contracted, The Secretary OF the Treasury
hereby collect information in regard Me Vaue
the property the system, and the amount COLLECTED
ring fiscal year in eachSf the Confederate States and to
port Congress its next session. TO enable
equal and system Of Internal taSatO
purpose Of securing the payment Of the interest and p
cipal hereby authorized created such
as may fully discharge the oblgAiO- herein contracted BY
pledge the faith Of The Conder. STATES pay the pTn
pal and interest Of the said debt WHEN due.
SEC 2. And be it further es2eted That any State
into the Treasury in anticipation OF The tax are aid,
not than hundred thousand dollars in spcie its
lent aud IL this be paid before the hfs day Of JH
the said shall be allowed 70 set OF the with
per cent additional from the qnsta % lie aesSed upon me
J; Approved Nay Ic, 1861. jyg7.Iaz4E