New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-11

AN ACT TO RAISE MONEY FOR THE SUPPORT OF Frss
| GOVERNMENT, AND TO PROVIDE FOE THE DEFEsssg
| OF THE CONFEDERATE STATES OF AMERICA.
| SECTION L. The Congress of the Confsdsrake Il
States Of AH,eaicG 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, the credit oE
/ the Confederate States, sum not exceeding fif-
teen millions of dollars, much thereof % in
| his opinion the eXigences of the public service
may require, to be applied to the payment OF ap4
preparations made by law for the support of tie
Government and for the defense of the Confederate
| States. 358s$
| SEC. O. The Secretary Of the Treasury il hereby
authorized, by the consent Of the President of the
Confederate States, to cause to be prepared eertf
fieates of stock or bonds, in such are here
| matter mentioned, for the amount to be borrowed
| as aforesaid, to be signed by the Register of the
Treasury, and sealed whit the seal of the Treasury
and the said certificates Of stock bonds shall be
made payable at the expiration often 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 the Secretary of the Treasury
may designate And to the bonds which shall be
issued, aforesaid, shall be attached coupons for
the sem-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,
1 upon RlYluS LuTbG LnuHnlS previous HuDic
at the seat of Government of the particular stocks
| or bonds to be paid, and the time and place nf
1 payment; and from and after the time so ap-
pointed, no further interest shall be paid on said
| stock or bonds
SEC. 4. The certificates Of stock and bonds shall
be issued in such form and for such amounts aalt
may be determined by the Secretary Of the Treas
ury and may be assigned or delivered under such
regulations as he may establish. But none of them
shall be for less sum than fifty dollars; and he
shall report to Congress. at its next session, q
Late in nf and tbap
| at which the loans may have been made, and alb
expenses attending the same.
!, Sec. 5. From and after the first day of August,
| 1861, there shall be levied, collected and paid o
duty of one-eighth of one cent per pound on all
cotton in the raw state exported from the Confed-
crate States; which duty is hereby specially
pal of the loan provided for in this act; and the
Secretary of the Treasury is hereby authorized aud
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
receivable in payment Of the export duty on cot
ton; provided, also, that when the debt and in-
terest thereon, herein authorized to be contracted
shall be extingushed, the sinking fund provided
for that purpose shall be adequate to that end, the
| said export duty shall cease and determine.
Approved 2sth February, 1861
| SINKING FUND FOR THE CONFEDERATE LOAN.
CoNFEnERsrE STATES OF AHBRI6A,T
| 49, nontsams9R msaasnRf nErARTnSfT DEF 7 vi
| Tn pursuance of an act of Congress authorizing
loan of Five Millions of Dollars and directing the
| Secretary of the Treasury to establish Sinking
Fund from the export duty cotton, for the pay
ment of the principal and interest of the same do
hereby establish the following plan for the said
Sinking Fund:
The Treasurer of the Confederate States shalF
| keep separate account Of all moneys paid over
by the collections of the customs as the net pro-
ceeds of the export duty on cotton, and from the
said moneys he shall pay the serhi-annnal interest
which shall accrue on each first day of March;
| whenever an amount shall be placed in the Trea-
sury sufficient to pay the interest to in the
following September, he shall reserve the for
that purpose, and the surplus proceeds OF the duty
received up to the said first of September remain
ing after payment of all interest and expenses of
the management of the debt shall be applied lo
the purchase from the lowest bidder of the Bombs
or Stock Certificates issued under the said act.
Public notice shall be given in gazette at the
seat of Government, for thirty days. and at such
other places as the Secretary of the Treasury mag
direct inviting proposals from holders for the sale
to the Government of the said Bonds and Stock, ,ao
be accepted at the discretion of the said Secretary
of the Treasury, where the bids shah demand more
| than the face of the Bonds or Certificate.
- G. G. n EMMINGER
| -- Secretary of the Treasury &
Referring to the above advertisement for q loan
| of FIVE MILLIONS OF DOLLARS to the Confederate
States, together with the act of Congress creating
it, the undersigned, appointed Commissioners,
give notice to the public that books Of subscription
for said loan, will be opened at the Citizens Bank
of Louisiana, on the 18th of April, 1861.
Apart from other considerations, this loan ofiers
to subscribers high rate Of interest-eight per
cent per annuns--payable semi-annuaily, and The
highest order of seeurty-a special appropriation
of an export duty on cotton of one-eighth Of
cent per pound-thus presenting inducements
which cannot fail to commend the loan to public
favor sound and profitable investment.
| SANIUE Ell. SMITH.
-.. e n--. Ss 59.5 JAMES d. UFREGRR.
| RMM. j. F0RSTALI, 5
i- JOHN I. NOBLE
| Commissioners.
| NEW ORLEANS, March 90 1861. mar29 tapif
/ 54 Hotel Arrivals Yesterday
/ Cry HoTEL.-J Fl McDermott, Miss MeDsE-
mott j NJ Smith, Mrs Benjamin, r S Wood L L.
i Morgan. w Washburn, a HATCH B II Hatohs
| - = A n N YE