Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1861-04-24
c. c. MEMMINGER, sec'y OF Treasury
MONTGOMERY, March Il, 1851.

HS-For more convcnicn information 10 all conccr-
ned, copy of the Act of Congress is suhjoned:
IN ACT TO raise money for The support Of The GOrern-
mrn, and 10 prorideJor lie defence Of the Confederate
STATES Of imoricd:
SECTION l. Tie Congress II The Confederate States NJ
I8,cp do enact, That hclrcsidrnt of he Confederate
States he, and he is hereby authorized at any time
within twelve months afcr he passage Of this Act, 10
borrow The credit of the Confederate States, a
not exceeding fifteen millions Of dollars much
thereof in his opinion he cxgcncSs Of the public
service may require be applied 10 the i
preparations nic uy law for the support OF The Gov
crnmcnt and for the dcfences of the Confederate
) atcs.
SEC q The Secretary of The Treasury is hereby au-
thorzcd, by the consent of the President OF the Con-
tolerate States to be prepared cerhcn'cs OF
stock bonds in such as are hereinafter men
toned, for he amount be borrowed as aforesaid,
to he signed by the Register Of the Treasury and seal
ed with the seal of the Treasury and the said certi-
Gates OF stock or bonds shall be made payable tho
expiration of ten years from the first day OF Scptsn-
Der next and the interest thereon shall be paid semi
annually at the of eight per cent. per annun at
the Treasury and such OF her place the Secretary
of The Treasury may designate. And to the bonds
wsch shall be issued aforesaid shall he attached
coupons for the semi-annual interest which NAV sc-
cruc, which coupons may be signed nv officers 10 h.
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 Ofih said stock and bonds
SEC B. At the expiration of five years. from tina first
! day of Sept 'mbeT next, the Confederate States may
pay up any portion the bonds or stocks upon giving
Z
Government Of thc particular stocks OF bonds he
paid, and the time and place Of payment and from
aud after the time 20 appointed no further interest
( shall be paid on said stock or bonds.
SEC. 4. Tho certificates Of stock and bonds shall he
/ issued in such form and for such amounts may he
determined by the Secretary Of the Treasury, and
he assigned delivered under surh regulations a. he
may establish. But none Of them shall 10 for less
sum than my dollars and he shall report 10 Congress
AZ rs next session, statement ia detail of his pro-
cceings and The rate at which the loans may have
| been madc and ali expenses attending the same.
FEC. .. From and after the first day If August 1851
there shall DO levied collected and paid duty Of
eighth of one cent Ter pound n All cotton in thr
state exported from The Confederate States. " irI
duty il hereby specially pledged to the due ta,nent
Of interest ard principal u the loan provided Tor in
this Act and the Secretary Of the Treasury is hcrey
authorized and required to establish sinking fund
to carry into effect the provisions Of this section rro
r,d however that the interest coupons issued ui,der
the second section Of This Act, when due. siall lie re-
criyable in IayIncnt Il the duty cott0n prorid>d
also that " hen fh- debt and interest tlsre0n here
il nl ariz1 - 'r elnt-artrd. siaii ~ eXIfguis.i
%. .lsiur .ur.d provided or ihat Erri .laii o.
adequate O.. .l .i-i, -le aid aDrt -l-y sifa r0as
. and fef 70 o.
ArfEet za. z.-h T,i.rulrg, Is61. IrTG-ii'isa.y