New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-16
LOAN FOR THE DEFENSE OF TIE
Confederate sfarea


share of the benefit, at the same time of sustain.
ing the cause of his country.
Bonds with coupons will be issued in sums from
Slooo to $50, and where it is preferred stock Ger.
''ncd1es IN the usual form may be had. The intev-
o'' az eight per cent. per annum, payable every
SIX months at all our principal cities.
Inc aeo1 mas the very unusual and important &C.
cur1ty OF duty of one eighth of a cent rer nouna
or about 62 cents per bale on all cotton aznor,oa
This duty, under all circumstances of peace or war
secures the punctual payment Of the interest ana
furnishes sinking fund for the redemption ~ tbe
principal. The coupons when due are receivable
in payment of the duty on cotton, and are thus
made available as coin, everywhere in 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 COM
mon defense, books of subscription will be openea
at the cities and principal interior towns five per
cent must be paid in cash at the time of subscrip-
tlon and the remainder on or before the 1st May
interest to run from the date of such payment,
Persons desiring to their subscriptions NAV
pay in cash the whole amount, and take a recent
for the delivery of bonds or stock. To enualfze
the rate of subscription at all points and to enable
all persons conveniently to subscribe. current bans,
notes of the place will be received at their market
value in coin.
In case of an over-subscription, preference will
be given to those who pay down the whole sub-
scription; next to subscribers of $50 next to sub
scribers of 500.
C, G. MEMM1NGER,
. Secretary Of the Treasury
Montgomery, March 10Th, 1861.
For more ample information to all concerned. a
copy of the act of Congress is subjoined:
AN ACT TO RAISE MONEY FOR THE SUPPORT OF THE
GOVERNMENT, AND TO PROVIDE FOR THE DEEEssR
OF THE CONFEDERATE STATES OF AMERICA.
e, SECTION l. The Congress Of the Confederate
states OF America do enact, That the President Of
| the Confederate States be and he il hereby an-
thorized, at any time within twelve months after
the passage of this act, to borrow the credit of
| the Confederate States, sum not exceeding fff-
| teen millions of dollars, or SO much thereof a. in
his opinion the exigencies of the public service
may require, to be applied to the payment of an
preparations made by law for the support of the
Government and for the defense of the Confederate
States.
Sec. 2. The Secretary of the Treasury is hereby
authorized by the consent of the President Of the
Confederate States, to to be prepared eerti-
cates 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 TreasurV
and the said certificates of stock or bonds shall be
made payable at the expiration of ten years from
the hrst day of September next; and the interest
thereon shall be paid semiannually, at the rate Of
| 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 be
issued, as aforesaid, shall be attached coupons for
the semannna 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 prucinal and
interest of the said stock and bonds.
SEC 3. At the expiration of five years from the
hrst day OF september next the Confederate States
may 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
or bonds to be paid, and the time and place of
payment; and from and after the time so ap-
pointed, no further interest shall be paid on said
stock or bonds.
SEC. 4. 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
ury, and may be assigned or delivered under such
regulations as he may establish But none of them
shall be for less sum than fifty dollars and he
shall report to Congress, at its next session,
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
| 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
paGugeI g a. TO te due payment Of interest and prine
pal OF the loan provided for in this act and the
secretary of the Treasury is hereby authorized and
required to establish sinking fund to carry into
elfect the provisions of this section. Provided,
however, That the interest coupons issued under
the second section of this act when due shall be
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 eHtingushed, or the sinking fund provided
for that purpose shall be adequate to that end the
said export duty shall cease and determine.
Approved 28th February, 1861.
SINKING FUND FOR TIE CONFEDERATE loan,
TREASURY DEPARrHEEr
T., ,,,,.-. Montgomery, April 1, lt5l.
loan of Five Millions of Dollars and directing the
Secretary of the Treasury to establish Sinking
FUND from the export duty on cotton, for the pay
ment OF the principal and interest of the same [ do
hereby establish the following plan for the said
Sinking Fund:
The Treasurer of the Confederate States shall
keep separate account of all moneys paid over
by the collections of the customs az the net pro-
ceeds OF the export duty cotton, and from the
SAID moneys he shall pay the semi-annual interest
which shall accrue on each first day of March;
whenever an amount shall be placed in the Trea-
sury sufficient to pay the interest to accrue in the
following September, he shall reserve the same for
That purpose, and the surplus proceeds of the lnty
iecelSea up TO the said first of September, remain
ing alter payment of all interest and expenses of
the management of the debt, shall be applied to
the purchase from the lowest bidder, of the Bonds
or Stock Certificates issued under the said act.
Public notice shall be given in gazette at the
seat OF Government for thirty days. and at such
other places as the Secretary of the Treasury may
direct inviting proposals from holders for the sale
to the Government of the said Bonds and Stock to
be accepted at the discretion of the said Secretary
OF the Treasury, where the bids shall demand more
than the face of the Bonds or Certificate.
c. G. NJ MMINGER,
secretary Of the Treasury.
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 annun-payable semi annually, and the
highest order of security-a special. appropriation
OF an export duty on cotton of one-eighth of q
cent per pound-thus presenting inducements
which cannot fail to commend the loan to public
favor as q sound and profitable investment.
SAMUEL SMITH
JAMES D. DFNEGRE,
EBM J. FORSTALL,
JOHN l. NOBLE.
Commissioners.
NEW ORLEANS, March o. 1851. mar29 tapl7
FAITHFUL DoG-A man named Rufus schweigert,
aged forty years, and mbecile, whose mother,
sisters and brothers reside near Westminster Ma