The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1865-03-31
fNo. 1897

AN ACT TO aAIsE COIN FOR THE PURPOSE OF FUR.
NIsuISG NECESSARY SUPPLIES FOR TIE ARMY.
The Congress of the Confederate States of Ame-
RIGA do eR0ct That, in order to procure the means
of purchasing supplies for the army, the Secretary
of the Treasury, under the direction of the Presi-
dent, be, and he is hereby, authorized to borrow
from any bank, banking company, corporation,
ISOLATION, or person, any sum sums in coin,
not to exceed three millions of dollars in the ag-
gregate; and to secure the repayment of any sum
or SUMS so borrowed, at such time may be agreed
upon not to exceed two years afterthe ratification Of
a treaty of peace between the Confederate States
and the United States to cause to be issued bonds Of
the Confederate States, in such convenient as
may be agreed upon, payable In coin, and to bear
interest at the rate Of six per cent. per annum,
payable sem-annually 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
owned by the Government, to the extent in value
of any such loan so obtained, or 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 the part of the
lender of such coin to export transport such
ton and tobacco beyond the limits OF the Confede-
rate States, free from any molestation the part
of the authorities Of the Confederate States the
payment Of any duty, except to the extent Of one
eighth per cent, now imposed by law.
SECTION 2. In the event the Secretary of the
Treasury shall not be able at once to obtain coin
to the amount of three millions of dollars under
the provisions of the first section of this act then
and in that event; tax shall be levied and col
lected Of twenty five per cent upon the amount OF
all gold andsilver coin, gold dust and bullion, and
foreign exchange in the Confederate States, pay
in kind, which tax shall be due and collected on
the first day Of April next soon thereafter as
possible: Proridcd, 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 so 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 or 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 or silver coin, gold dust bullion foreign
exchange, OF any person who has made aloan to the
Government. according to the said first section, Of
not 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 of the Con-
federacy borrows from any bank, coin or bullion,
and lends it to the Confederate Government, the |
bank that lends such coin bullion shall be al |
lowed credit against this tax to the extent Of such
days, mentioned in this section shall be extended
to one hundred and twenty days for all portions OF
the Confederacy beyond the Mississippi river.
SECTION 8. That the limitation Of threemilliOns |
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 as loans accruing taxes under this act
Proclded, That the tax imposed by the provisions
VI Az upUA Soiu anu SlNeI Gull, kOIO ouO
yer bullion, gold dust and foreign exchange, when
paid, the amount thereof loaned in pursuance of
the first and second sections of this act shall be in
lieu Of all other taxes imposed the same articles
by any other act: Proeidfd 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 at the date
VI the passage Of this act.
Approved March II, 1865.
A true copy:
JAMES n. MATTHEW'S.
NH 26-tAl Law Clerk.