Gazette and sentinel., 1861-04-20
G.. &. MEMMINGER,
Secretary OF ! Tussury.
MONTGOMERY, March l6. 1861.

For more ample information 10 all concerned.
4 copy Of the act OF Congress is subjolned:
An ACT 10 raise money for tie support Of The
Government and 10 prOride for tie dcteEse Of The
r0ycierrte Suites Of Amcricd.
SEcroIS |. The c ougress Of the Confederate
S.ates at America 10 enact, That the President
Vi tue Confederate States be aai he is hereby au.
tnoiIzed al any ii.ne within II months after the
passage OF Ia act. 10 borrow, on the credit Of
IIc Confederate States, a sum not exceeding
Fifteen Millions OF Dollars. OF So much thereof
a. IN as opinion the eXigencles OF the p.hlic
srTv &c may require. 10 be applied 10 the pay.
meni OF appropriations made By law tor lie
>IpIoIi ci the Government anG Tor the defense
Of lac Confederate States.
Sac. =. The Secretary Of the Treasury :
hereby authorized. by the consent OF the Fresl-
dealt Il TIE Confederate S;dteS. 10 cause TO BE-
prepared certificates OF Stock OF Bonds. in such
suus as are hereinafter mentioned, lor the
amount - I've borrowed as Aforesaid, 10 be signed
by the Register Of the Treasury, ani sealed
with the seal of Inc Treasury and the slii GER
tihca;es OF Stock or Bonds shall be made pa, able
al the expiration ol ten years nom the nr(t day
o. September next aud the ~IHt-tesl thereon
shah lie paid SeunI-anuually, at tAe Ia.e OF Eight
per cent per amum. al the Treasury and such
other places a. Inc secretary OF the Treasury
may designate. Ald 10 the bonds which shall
b. issued. a. aiOresJ,d. shall lie attached coupons
tor the seuil-duUual IHlTTeSt which NAV accrue,
which coupons may he signed by Officers 10 BE-
/ appointed Tor the purpose BY the Secretary vi
tie Treasury. And The faith OF the C0nleder-
ale States i hereby pledged Tor tie due payment
o! the pTiHc!pa! and Interest OF said stock and
bonds.
SEC. 3. AT the expiration of i've years from
the first day OF September next, the Confederate
States may pay up any portion Of the bonds OI
slocks, upon giving three months previous pub.
lie notice, al The seat OF Government, o! the par
ticuidr stocks or bonds 10 be paid, and the time
aGd place OF payment; and from and after the
Tine so appointed, no luther InieTes. shall be
paid on sand stock or bonds.
SIC. !. The certificates Ct stock or bonds shat!
be issGeG in such fOIm and for such amounts a,
may lie determined by The Secretary OF the
Treasury; and NAY be assigned or delivered uu.
der such regulations as be may establish. BG
I.oae o! them shal. be for a less sum than hiy
dUla,s and he snail report 10 Congress, al IL
next session, a siaiemeut in detail o. his pro.
ceediugs, and the rate al which the loans MAJ
have been made, and all expenses attending Ia,
sane.
SIC. 5. From and after the first day Of August
! 1901, there snail be levied, collected and paid,
duty OF One-eI9hlh OF OHe cent per pound on al
cotton IN the law state exported from the Con
iederaie States which du;y'is hereby special,
pledged 10 the due payment OF interest aud prR
cipai OI the loan provided for ~ this act an
the Secretary OF the Treasury is hereby author
lzed and required 10 establish u sinking iant I
carry lnio effect lhe provisions Of this section
Provided. however. that the interest coupons is
sued under the second section u this act, whe
due, shall be receivable N payment OF tie expo
duty on cotton provided also, that when ih
debt aud interest thereon, herein authorized /
be contracted, shall be extinsuished, or the sink
inG .uAd provo ed Tor that purpose. shall be al
equaie 10 that end, the said export duty sha
cease and determine.
approved zSth February, 1861.