New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-02
S1eb Orlealts lailg Gtsstellt.
LOAN FOR THE DEFENSE OF THE
VI f,nnfedarnte stntes. ~

TUESDAY MORNING, APRIL Q, 1861.

Five millions Of this most advantageous invest
ment will be offered to the public on the 18th April
ensuing, and every citizen throughout the Consed"
crate States will have the opportunity of taking
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
ticates in the usual form may be had The inter
NEST is at eight per cent per anhum payable every
six months talI our principal cities.
The debt has the very upusnal and important &C.
eurity Of duty Of one eighth OF cent per poula'
or about 50 cents per bale on all cotton exported.
This duty, under all circumstances OF peace or war,
secures the punctual payment OF tine interest," ana
furnishes sinking fund for the redemption OF the
s prineipaI. The coupons when due are receivable
in payment Of the duty on cotton and are thus
made available as coin, everywhere in our country.
In order to enable al portions of our people to take
! part Of this valuable Investment and to exhibit
their commoa interestn raising 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 ii cash atthe#stne of subscrip-
ton and the remainder on or before the lst 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 equalize
the rate Of subscription at all points and to enable
all persons conveniently to subscribe current bank
notes of tile place will be received at their market
value in coin.
Id case Of On over-subscription, preference will
be given to those who pay down the whole sub
scription next to subscribers Of $50 next to sub
g. G. MEsTNINGER,
Secretary Of the. Treasury.
y Noatg5msfy March 18th, 1861
For. more ample information to all concerned,
copy Of the act Of Congress is subjoined:
AN AcT 10 RAISE HONEY FOR THE SUPPORT OF THE
GOVERNMENT, AND no PROVIDE FOR TIE DEFENSE
oFsTHE CONFEDERATE STATES OF AMERICA.
SECTION l. me Congress Of the Confederate
States of AYoefica 90 enact, That the President OF
the Confederate States be and he is hereby au-
thorized, at any titne within twelve months after
the passage Of this act, to borrow on the credit Of
the Confederate States a sum not exceeding hf
teen Iniousof dollars, SO much thereof as in
his opinion the exgencies Of tue public service
may require, to be appiIed to the payment Of ap-
pronfiationa made by law for the support Of the
{tSFernment and for the defense OF the Confederate
States.
$40. Q. The Secretary of the Treasury is hereby
authorized by the consent Of the President of the
Confederate States, to cause to be prepared certi-
icates Of stock or bonds, in such sums as are here
matter mentioned for the amount to be borrowed
az aforesaid, TO be signed by the Register Of the
Treasury and sealed with the seal Of the Treasury:
and tile SAID eeftttalaS Gl STOCK OF DOu1S sndl pc
made payable at the eErlration 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 aa the Secretary Of the Treasury
may designate And to the bonds which shall be
Issued as aforesaid, shall be attached coupons for
the snmannual 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 aud 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
sock or bonds. .-...
~ SEC T. 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 Treas
ury, and may be assigned OF, delivered under such
regulations as he may establish. But none OF them
shall be for a less sum than fifty dollars; and he
shall report to Congress, at its next session,
statement in detail of his proceedings and the rate
at which the loans may have been made, and all
expenses attending the same.
Sec g. From and after the first day of August,
1861 there shall be levied, collected and paid
duty OF one-eighth OF one cent per pound on all
cotton 81 the raw state exported from the Confed
crate States; which duty is hereby specially
pledged TO the due payment OF interest and pflhci-
nal of the provided Tor in LllS aGL anu tue
Secretary Of the Treasury is hereby authorized and
required to establish sinking fund to carry into
eifact 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 extinguisbei, or the sinking fund provided
for that purpose shall be adequate to that end, the
said export duty shall cease and determine.
Approved 2Sth February, le6l
Referring 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 noceto the public that books of subscription
for said loan, will beiopened at the Citizens Bank
of Louisiana, on the 18th Of April, 1861.
Apart from other considerations, this loan offers
to- subscribers a high rate of interest eight per
GER t per d,s,aune-paya yable semi annually, and the
highest order of security 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 as sound and profitable Investment.
S AMUEL SMITH.
JAMES D. aDFNEGRE,
.-l s-.&4@ ERM.- j. FoRsTALT,
JOHN l. NOBLE
-~5-. Commissioners.
New ORLEANS, March %, ISL. mar2o tapl7
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