The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-22
THE SOUTHERN LOAN.
CIRCULAR OF TIE SECRETARY OF THE TREASURY OF
THE REBEL STATES.

CONFEDERATE STATES OF AMERICA J
TREASURY DEPARTMENT, RICHMOND, Aug. %, 1861.
The Congress Of the Confederate States has authorized
the Secretary Of the Treasury issue bonds to an extent
not exceeding hundred millions Ct dollars for tho pur
changes for the proceeds of the sale Of raw produce and
manufactured articles and the purchase of specie and mil
itary stores.
Under the authority previous act the Secretary ap
pointed commissioners resident in different sections Of
the several States, to solicit advance from planters
manufacturers and others subscriptions of the proceeds of
the sale OF their crops and other branches industry
be paid for in bonds of the Confederate States.
To the patriotic and jealous efforts of these commits
snafs, no less than to the lofty patriotism Of the people
the government is indebted FOR aggregate subscription
which reaches already many millions of dollars The H..
cvnced The cotton the rice the tobacco and the sugar
Planters have WED with each other and in the first named
staple alone the subscription in several of the States
reaches frcm onehrd TO one half Of the entire crop
1t not proposed as has been frequently explained to
interfere with the usual and customary arrangements of
planters Other making sale of their produce This
is necessary. 1t is only asked that each individual
shall indicate in advance the proportion Of the same which
he willing to subscribe tho time and place of delivery
the factor or merchant in whose hands II Is TO be placed
for SALE aud who is authorized to pay the proc
and receive in exchange Confederate bonds TIE bonds
carry interest of eight per cent payable semi annually
and be issued of less denomination Than one
hundred dollars except where the subscription Is for
less less amount when the limit is fixed at nf'y dollars.
is secured as will be perceived, by special act Of Con-
gress.
have now the opportunity Of contributing to the wants
and sustaining the credd of the government were not in
condition to make cash subscriptions to tho loan pre-
viousy authorized. Their surplus capital already
invested, and their command OF resources, in the ma
urc OF things, was mainly TO be locked for the future
Upon such future they authorized safely
draw, and the investment proposed, aside from its
claim on the score OF patriotism may DO regarded alto
gehcr as advantageous and safe any other business
transaction.
The time Of sale referred to in the caption of the lists
which sent out is intended to indicate the dato
at which the crop brought to market and will of course
be subject to those considerations
which would postpone sale where the property would
be sacrificed.
Special agents have been appointed or will be appoint
cd in every county and district Of the South. They will
be furnished with subscription lists and requested
bring the subject before their fellow citizens in every
proper manner, by personal appeals public addresses
through the fundamentally of the press Tho results Of
their abors will be communicated from time to time to
this department and is requested that agents will
dorso upon the lists the OF the Post Office county
and State to which they belong.
The sections Of the several acts OF Congr which
late to the subject Of the loan are herewith annexed.
c. G. MEMMINGER, Secretary of the Treasury
BILLS PASSED BY THE REBEL CONGRESS.
AN ACT TO AUTHORIZE LOAN, AND ISSUE NOTES.
AND PRRsCRIlE PUNISHMENT SAME AND
FOR FORGING CERTIFICATES OF STOCKS AND BONDS.
Section l. The Congress of the Confederate States Of
America do enact That the Secretary Of the Treasury
may with the Of the President of the Confederate
States issue fifty millions Of dollars in bonds payable at
the expiration OF twenty years from their date and bear
ing rate OF interest not exceeding eight per per
mum, until they become payable the said interest DO
paid semi annually The said bonds after public adver-
tsement IN three newspapers within the Confederate
States for six weeks to be sold for SPECIE military stores
or for the proceeds Of sales of produceo manufacture
cd articles to be paid in specie or bills Of exchange in
such manner and under such regulations may DO pre-
scrbed by the Secretary Of the Treasury report at its
next ensuing session to the Congress Of the Confederate
States precise statement Of his TRANSACTIONS under this
law Nor shall the said bonds be issued in fractona,
parts of the hundred be exchanged by tho said Secre
tary for Treasury notes the notes Of any bond corpo
ration or individual but only in the manner herein pre-
scribed Provided That nothing herein contained shall
be construed 10 prevent the Secretary the Trcas
ry from receiving foreign bills Of exchange payment of
these bonds. (ActMay, 1851
BILL TO BE ENTITLED AN TO AUTHORIZE THE ISSUE O.
TREASURY NOTES, PROVIDE WAR TAX FOR THEIR
REDEMPTION
Section J. Tho Congress Of the Confederate Sntes of
America dc enact That Secretary of the bo
and he is hereby authorized from time to time as thu
public necessities may require to issue Treasury notes
payable to bearer the expiration Of six months after
the ratification of treaty Of between the Confede