The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1865-03-28
mo. 1871

AN ACT TO RAISE COIN FOR THE rcRPosE or FUR.
S1sHINo NECESSARY SUPPLIES FOE THE ARMY.
The Ccngrtss Of the Confederate States IF Aaie.
sea do enact. That, in order to procure the means
ct purchasing supplies tor the army, tie Secretary
OF the Treasury, under the direction CT the Plesi
dent, lie, and he is hereby, authorized 10 borrow
from any bank, banking company, corporation, AS
ISOLATION, or person, any sum or Sums III coin,
not tt exceed three millions ct dollars n the ag-
greeate; and to secure the repayment of any sum
SO borrowed, at such time may be agreed
uPo not to exceed two years after the rtiAcaton OF
q treaty Of peace between the Confederate States
and the United States, to to be issued bonds Of
the Confederate States III such convenient SUMS
may be agreed upon payable in coin, and to bear
interest ut the rate OF SIX per cent Fer annum,
payable semi-annualy in specie; and to secure the
repayment of any sum or sums SO borrowed, with
the interest thereon the said Secretary be further
authorized and empowered to pledge, in such legal
form as may be agreed upon, any cotton or tobacco
owned by the Government, to the extent IN value
Of any such loan obtained, the proceeds
thereof when sold, or to convey such cotton and
tobacco, or any part thereof, in absolute payment
Of such loan, with the right on the part Of the
lender Of such coin to export transport such cot
ton and tobacco beyond the limits Of the COnfede-
rate States free from any molestation on the part
Of the authorities Of the Confederate States, the
payment Of any duty, except to the extent Ut One-
eighth per cent, now imposed by law.
SECTION g In the event the Secretary Of the
Treasury shall not be able at once to obtain coin
t. the amount Of three millions Of dollars, under
and in that event, a tax shall be levied and col
lected Of twenty-five per cent. upon the amount Of
all gold and silver coin, gold dust and bullion and
IN tna on
the frat day Of April next, or as soon thereafter
possible: frOrided, That the above tax shall not
be levied upon the gold or silver coin gold dust and
bullion and foreign exchange owned or possessed
by any person when the amount 10 owned or pos
sessed shall not exceed two hundred dollars in
value, nor shall the said tax be levied on gold or
silver coin, gold dust, bullion foreign exchange,
which, within Thirty days after the passage Of this
act, shall be lent to the Government under the
provisions of the first section Of this act Nor upon
the gold silver con gold dust, bullion or foreign
G,vsrnment according to the said FIRST section, of
no. less than twenty-five per cent. Of the gold or
silver coin. gold dust, bullion or foreign exchange,
owned and possessed by such person at the time Of
the passage Of this act and if any State the Con-
federacy borrows from any bank, coin or bullion,
and lands Il u the Confederate Government, the
bank that lends such coin or bullion shall be al
tovs credit against this tax to the extent Of such
days, mcntQned in this section, shall be extended
to one sunderland twenty days for all portions Of
the Contederacy beyond the Mississippi river.
SEcrIoS 3, That the limitation Of three millions
Of dollars expressed in the first section of this
act shall not BE- construed to prohibit the Secretary
Of the Treasury from receiving greater amount,
offered rs loans or accrung on taxes under this act
Preceded, That the tax imposed by the provisions
Of this act upon gold and silver coin gold and sill
yer bullion, gold dust and foreign exchange, when
paid, or the amount thereof loaned in pursuance Of
the first and second sections Of this act shall be in
lieu Of all other taxes imposed on the same articles
by any other act: Prorided further, That the tax
Of twenty-five per cent levied BY the second section
Of this act shall be in lieu Of all other taxes imposed
on the same article by any other act, and the tax
imposed by this act shall be assessed as at the date
Of the passage Of this act.
Approved March II, 1865.
A true copy:
JANES n. MATTHEws,
NH 26-tAl Law Clerk.