Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1861-09-19
CIRCULAR,
S. 4. TRASURY DEPARTMENT,
RICHMOND, August 20, 1861.

The Congress of the Confederate States
has authorized the Secretary of the Trea-
sury to issue bonds to an extent not exceed
ing one hundred millions of dollars, for the
purpose of funding its treasury notes, and
for making exchanges for the proceeds of
the sale of raw produce and manufactured
articles, and the purchase of specie and of
military stores.
Under the authority of a previous act the
Secretary appointed commissioners, resi-,
dent in different sections of the several
States, to solicit, in advance from planters,
manufactures and others, subscriptions of
the proceeds of the sales of their crops and
other branches of industry, to be paid for
in bonds of the Confederate States.
To the patriotic and Jealous efforts of
these commissioners, less than to the lofty
patriotism of the people, the Government
is indebted for an aggregate subscription
which reaches already many millions of
dollars The liberality of every class cf
the community has been eviuced. The
cotton, the rice, the tobacco and the sugar
plauters have We'd with each other, aud in
the first named staple alone the subscrlp,
tiou in several of the States reaches from
one.third to one-half of the entire crop.
1t is not proposed, as has been frequently
explained, to interfere with the usua! and
customary arrangements of Planters and
others in making sale of their produce
This is not necessary. 1t is only asked that
each individual shall indicate in advance
the proportion of the same which he is will
ling to subscribe, the time and place of
delivery, and factor or merchant in whose
hands it is to be placed for sale, and who
is authorized to pay over the proceeds and
receive in exchange Confederate bonds.
These bonds carry interest Of eight per
cent, payable semi-anuually, and arc not
to be issued of less denomination than one
hundred dollars, except where subscription
is for less amount, when the limit is fixed
at fifty dollars. The payment of the prin-
cipal and interest Of tfe bonds is secured,
as will be perceived, by special act of Con-
gress.
The agricultural and manufacturing in
terests which have now the opportunity OF
contributing to the wants, and sustaining
the credit of the Government, were not in
condition to make cash subscriptions to the
loan previously authorized Their surplus
capital was already invested: and their COM
mand of resources, in the nature of things,
was mainlyaka be looked for in the future.
Upon sasS Seure resources they are au'
thorzed&fsly to draw, and the investment
proposed from its claims on tl,se9 the score
as III Eatag geous and as safe as any other
business transaction.
T1As tip8 as1e referred to in the cap
tion Il 4 thsa Ills %hich are sent out is intend
ed to indicate the usual date at which the
crop is brought to market, and will of course
be subject to those considerations of mu-
tual interest which would postpone sale
where the propertNwd6ld be sacrificed.
Special agents have been appointed, or
will be appointed, in every county and dis
trict of the South. They will be furnished
with subscription lists, and requested to
bring the subject before their fellow-citi-
zens in every proper manner, by personal
anneals nnhlic addresses or through the
ins,rumentality of the press. The results
of their labors will be communicated from
time to tine to this department, and it is
requested that agents will endorse upon the
lists the name of the post office, county and
State to which they belong.
. The sections of the several acts of Con-
gress which relate to the subject of the loan
are herewith annexed
G. G.. MEMMINGER,
Secretary of the Treasury.