New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-04
LOAN FOE THE DEFENCE Or THE
4,onfeAerafe sf,feH

LOAN FOE THE DEFENSE Or THE
Confederate states.
d Five millions or this most advantageous juyeaf
eut viii be offered to the public on the 18th April
ensuing, and every citizen throughout the Gonfed-
crate States will have the opportunity cf taking
share Of the benefit, at the same time Of sustain
ing the cause Of his country.
Bonds with coupons will be issued ID sums frora
$1,000 to $50, and where Is preferred, stock GER
tifcates in the usual form may BIZ had. The inter
est is at eight per cent per aHnum, payable every
ak months at all our principal cities.
The debt has the very unusual and important se-
curity Of duty Of one-eighth Of cent per pound,
or about 81 cents per bale on all cotton exported
This duty, under all Of peacs or WAR;
secures the punctuaI payment Of the interest, and
furnishes sinking fund for the redemption of the
principal. The coupons when due Ire receivable
in payment of the duty on cotton, and are thna
made available as coin everywhere I'D our country
In order to enable all portions Of our people to take
part of this valuable Investment and to exhibit
their common interest in raising funds for the corn
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 subseFp
ton, and the remainder on or before the 1st 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 a5receipf
for the delivery Of bonds or stock. To eguaIfse
the rate of subscription at all points, and to enable
all persons conveniently to subscribe current bank
notes Of the place viii be received at their market
value in coin.
In case Of an oversube ecFiption, preference viii
be given to those who pay down the whole sub
scription; next to Subscribers Of $50 next to sub
m $fno
'Sf''S.S i 80 o. O. HEMarraER,
Secretary Of the Treasury.
Montgomery, March 16sh 1861 Il
For more ample information to ali concerned,
| copy Of the act Of Congress Is subjoined
| AN ACT TO RAISE MONEY roR THE SUPPORT On FHE
GOVERNMENT, AND TO PROVIDE FOR THE DEFENsE
OF THE CONFEDERATE STATES oF AMERICA.
| SECTION i. The Cgasgress of The Confederate
States of america do enact, That the President Of
the Confederate States be and he is hereby sau-
| thorized at any time within twelve months after
the passage of this act borrow, the credit of
| the Confederate States, sum not exceeding ff-
| teen millions Of dollars, or 50 much thereof as in
| his opinion the exigencies Of The public service
| NAV require to he applied to the payment Of ap-
| preparations made by law for the support Of the
Government and for the defense Of the derate
States. -3sgls5 iss5z5. n
SEC. O. The Secretary of the Treasury is hereby
authorized by the consent Of the President OF The
Confederate States, to cause to be prepared certi
fcates of stock or bonds, in such sums as are here
matter mentioned fer the amount IN 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 or bonds shall be
made payable at the eEpiration Of ten years from
the first daV of September next; and the interest
thereon shall be paid seiannually, at the rate of
1 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 De
issned, as aforesaid, sha he attached coupons for
| the semannual interest which may accrue, which
coupons may be signed by officers TO be appointed
for the purpose by the Secretary Of the Treasury.
/ pledged for the due payment Of the principal and
| interest of the said stock and bonds
| SEC 3. Atthe expiration Of FIVE years from the
i frat day of September next the Confederate States
| NAV 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
i or bonds to be paid, and the ufae ana pace q
pointed, no further interest shall be paid on SAID
| stock or bonds. .s
SEC. 4. The certificates of stock and honda shah
| be issued in such form and for such amounts as
nav be determined by the Secretary pf the Ifeaa-
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
I shall report to Congress at its me- 4t session,
statement in detail of ha proceedings, and the rate
at which the loans may have been made, and all
I, expenses attending thesar1e- N
Sec. Is. From aud after the htat day OF Augusty
1861 there shall be leged, collected and paid 8
} duty of one-eighth Of one cent per pound on all
cotton the state exported 1rOEfl Nne GOHfsu-
: crate States which dnty is hereby specially
pledged to the due payment of interest and prlaet-
nal Of the loan provided for Id this act; and the
Secretary of the Treasury is hereby authorized and
required to establish sinking fund to carry INTO
effect the provisions of this section. Provided,
however, That the interest coupons isaued under
the second section of this act when due, shall pc
receivable in payment of the export dnty On cot
ton; provided, also, that when the debt and IN
terest thereon herein authorized to be contracted,
shall be extinguiShed, the sinking fund provided
for that purpose shall be adequate To that end, the
said export duty shall cease and determine.
Approved 2Sh February, 1851
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 notice to the public that hooks of subscription
for said loan will be opened at the Citizens Bank
of Louisiana, on the nth of April, 1861.
Apart from other considerations, this loan oilers
to subscribers high rate Of interest eight per
cent. PEI. annuna- ayable 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 a sound and profitable investment.
| SAMUEL. SMITH.
II s.y;s JAMES D.5DENEGRE, y
ERM. U. FoRsTAII4,
II JOHN /. NOBLE.
Commissioners.
| 81 1os1 n,r5nfpr