The Camden confederate. [volume] (Camden, S.C.) 1861-1865, 1862-06-20
wCHARLEsTON. JUNE ?, 1861


attention of Planters, and others interested, in
this state, to the following REGULATIONS,
just received from the Treasury Department.
He has also been instructed to obtain from
subscribers the ARMY SUPPLIES, in kind
(such as RICE, CORN, &c. &c.) which they
pledged to the Produce Loan Bureau, for which
payment will be made in Confederate Eight
per cent. BONDS, or transferable Stock.
is. K. BENNETT,
General Agent for the State of So Ca.
REGULATIONS AS TO THE PURCHASE OF PRODUCE
UNDER THE "ACT TO AUTHORIZE THE Ex-
CHANGE OF BONDS FOR ARTICLES IN KIND, AND
THE SHIPMENT, SALE, OR HYPoTHEcATIoN OF
SUCH ARTICLES" APPROVED APRIL 81, 1862
The several Produce Loan Agents appointed
in each State shall accept Cotton in kind, which
has been or shall be subscribed, in exchange
for Eight per cent, Bonds of the Confederate
States, under the following regulations:
F l. Each Agent shall, by public advertise
ment, call for offers to be made, setting forth
the quantity, price and quality of the Cotton
and the place at which the same is deposited;
and upon receiving the offers, he shall cause
the Cotton offered to be examined, and the
price ascertained and reported upon, bv an ex-
perienced Cotton Broker, and, upon being
satisfied that the purchase would be desirable,
and the place ofdeposit is safe, he may con-
clude the purchase to the extent prescribed to
him by the Secretary of the Treasury. When
bids are equal, preference shall be given to
subscriptions heretofore made to the Produce
Loan.
Ii. No purchase shall be made of Cotton
deposited on plantation, unless the seller shall
engage, in writing, to take due care the Cotton
while Oh his plantation, and to deliver the
same, at bis own expense at the usual place
of Shipment or railroad delivery, whenever
demanded oy the Secretary of the Treasury
or his Agents, or his or their assigns; nor shall
any such purchase be made of less than twenty
bales on one plantation. Wherever purchases
of less than one hundred bales are made, the
Government Agent is authorized to have them
collected and deposited in warehouse, or
upon some plantation where proper provision
cam be made for their secure custody, and for
delivery at the usual place of shipment; and
he shall report to the Chief Agent the arrange
ments thus made, with proper documents for
the delivery.
III. Before completing the purchase the
Government shall see that each bale of Cotton
is sufficiently secured with Rope and Bagging,
and is deposited IN a warehouse, or if on a
plantation, in some enclosed or covered build
ing, secure from fire, to remain under charge
Of the seller as warehouseman. The purchase
shall then be completed by tho delivery of
Confederate Bonds or Stock for the place in
exchange for the documents transferring the
property to the Confederate States, and stipula.
ting as specified in these Regulations; and
whereupoL the Agent shall place upon each
bale Governments mark to identify the same
In all cases he shall take the transfer of title in
duplicate to the Chief Produce Loan Agent of
the State wherein the Cotton is deposited, and
the other to the Treasury Department of the
Seat of Government.
4 T.
VIII. When the Cotton is deposited at a
warehouse, the form of transfer shall be in the
usual and customary form in private transac-
tions.
= y
x. Subscribers to the Produce Loan may
any time, pay the amount or value of their sub
scriptions in Treasury Notes; instead ofdelver.
ing the same in kind, and such payment shall
entlte them forthwith to receive Bonds or Ger
tifcates of Stock in exchange.
G. G. MEMMINGER,
Secretary Of Treasury.
Cash Store.