New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-03
LOAN For THE DEFENSE or THE


II ---..s-.s. VI ASss S
i Five millions Of this most advantageous invest
ment win be offered to the public on tie 17th Aprl
ensuing, and every citizen throughout the Gonfeds
crate States will have the opportunity Of taxing
share Of the benefit, at the same time Of sussaiu-
ing the cause Of his country.
Bonds with coupons viii be issued III Sums rom
$1,000 to $50, and where It ii preferred stock cer-
sficates in the usual form may be had. The inter-
est is at eight per cent. per aunu, payable every
SIX months at all our principal cities.
The debt has the very unusual and important Sc.
curity Of duty Of one-eghth Of d cent per pound.
or about 62 cents per bale ON all cotton exported
This duty, under aileircunstances og peace or war
secures the punctual payment Of The interest, and
furnishes sinking fund for the redemption Of he
principal. The coupons when due are reeefyaiIe
| in payment of the duty on cotton, and arc thas
made available as coin everywhere ii our country.
In order to enable alportions of people 10 take
| part of this valuable investment and To exhibit
their interest in raising funds for the conn
mon defense, books Of subscription will be opened
at the cities and principal interior towns Eve per
cent. must be paid in cash at the time of snbscrip
ton, and the remainder on or before the Iss MAJ
| 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. 70 eqaalize
the rate of subscription at all points and to enable
all persons conveniently to subscribe current bank
notes Of the place will be received at their market
| value in coin.
| In case of an over-subscription, preference win
be given TO those who pay down the whole sub
scription; next to subscribers of $50 next to sub
C. G.. MEMMINGER
Secretary or The Treasury.
| Montgomery. March 18th, 1861.
| For more ample information to all concerned, a
| copy of the act of Congress is subjoined
AN ACT TO RAISE MoSEY FOR THE suFPoRTo oP 7HE
GOVERNMENT, AND TO PROVIDE FOR THE DEFENSE
OF THE CONFEDERATE STATES OF AMERICA. 8sa
| SECTION L. The Congress of tEe COMfe&srate4 n
1 States of 4Tasred do enact, That the President 0f
| 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 Of
| the Confederate States, sum not exceeding if
teen millions Of dollars, or so much thereof as in
| his opinion the exigencies of the public service
| may REQUIRE to be applied to the payment Of APP
| preparations made by law for the support of the
Government and for the defense OF the Confederate
| States. B
Sec. Q. The Secretary of the Treasury ia hereby
authorized by the consent of the President of the
Confederate States, to cause TO be prepared certi
feates of stock or bonds in such sums as are here
matter mentioned, for the amount 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 expiration of ten years from
| the first day of September next; and the interest
thereon shall be paid semi annually at tho rate of
| eight per cent per annum, at the Treasury and
such other places as the Secretary Of te Treasury
issued as aforesaid shall be attached coupons for
| the senli-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. 3. 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 mouths 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-E
pointed no further interest shall be paid on said
| stock or bonds.
SEC. a. 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
1 nry, and may be assigned or delivered under such
| regulations as he may establish: But none Of them
| shall be for q less sum than fifty dollars and he
shall report to Congress, at It's next session, a.
statement in detail Of his proceedings and the rate
| at which the loans may have been made, and all
expenses attending the same
/ Sec. s. From and after the first day Of August,
1861, there shall be levied, collected and paid d
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
pledged to the due payment of interest and pTinei-
pal OF the loan PROVIDED Iof IN lnS acbs ana Lhe
Secretary Of the Treasury is hereby authorized and
| required to establish sinking fund to carry into
effect the provisions of this section. ProVidedY
| however, That the interest coupons issued under
the second section of this act, when due, shall be
| receivable in payment of the export dutyson 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
| 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 offers
to subscribers high rate of interest eight per
cent. per aanun1-payable semi annually, and the
highest order of security-a special appropriation
| of an export duty on cotton of one-eighth of a
cent per pound-thus presenting Inducements
which cannot fail to commend the loan to public
favor as sound and profitable investment.
SAMUEL SMITH,
JAMES D, DENEGRE
-.. EaM, j. FoRsTALL.
JOHN I. NOBLE.
.Ha COMMISSIONER
| NEW ORLEANS, March 90 1861. mar2a tapi7