Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1865-03-29
No. ISa.

no. 49,
AN ACT TO RAISE COlN FOR THE PURPOSE OF
"A FURNISHING NECESSARY SUPPLIES FOR THE
AI.MY.
The Congress of the Confederate States of America do
enact That IN order 70 procure the means of purchasing
supplies for the army the Secretary Of the Treasury
dr the direction o the President be and he il hereby
authorzed 10 borrow lIom any bank. banking company
corporation, association or person. any SUN
coin not exceed three millions of dollars in the ager
gate and to the repayment OF any yum or sums
bnnoweL, at such time may he agreed upon, not to
exceed two years aztec the ratification OF treaty OF peace
between the Confederate states and the United STATES 10
case h. he sSlird bonds Of the Confederate STATES in
such convenient Sirs rs may 10" ae1ecd upon plNIH III
aud TO bear interest at the rate OF u sr cent por
aunuhi payable Sem annually in specie; and 10 secure
TIE dyment of any sum or sums so borrowed with the
thereon the sand Secretary be farther authorized
and Owered 10 pledge in such legal form may lc
agreed upon amy cotton tobacco owned Icy the Gov.
eminent to the extent ia value Of amy such loan Oh
tanned the proceeds thereof when sold To convey
such cotton tobacco any part thereof IN absolute
payment of such loan with the right the part of the
tender 81 such coin To export or transport such cotton
aud tobacco beyond the limits of the Confederate States
free from my mole tatlOn the part Of tie authorities
Of the Confederate states the payment of any duty
except To the extent OF oneeight per cent now impose
by law.
See , In the event the Secretary of 'thc Trcasul
shall Ice able at to obtain coin 10 the amount
of three millions Of dollars under the provisions of the
fat section OF this act, then and in that event tax
Il be levied and collected of twenty-five per cent up.
The amount Ot all gold and silver coin gold dust aud
Hon and fOiCEn exchange IN the COME dafdte states
able in Kind which tax shall be due and collected
fist day OF April next or soon thereafter pos
e: Provided That the above tax shall not he levied
III the gold silver coin gold dust and bullion, and
reign exchange owned possessed by any person
hen the amount owned possessed shall not exceed
two hundred dollars IN value shall the said tax be
levied on gold or silver coin gold dast bullion for
e eu exchange whic within thirty days after the pas
Ge of this shalt be lent the government under
the provisions of the first section of this act Nos upon
the gold siNer coin, gold dust bullion foreign
chance of any person who has made loan to tie gov
eminent according TO the said first section, of not les.
than twenty-five per cent Of the gold silver coin gold
dlst 1bnOnlOr foreign exchange owned and Possessed
By such person the time of the passage 81 this act
aud If any State of the COnfederacy bOrows from any
bank coin bullion aud lends il TO the Confederate gov
sumen the bank that lends such coin or bullion shall
he allowed credit gainst this tax TO the extent of such
loan And prov dcl Also That the delay of thirty days
mentioned IN this section shall be extended to hun
bred and twenty days or all portions of the ConiederaCy
beyond HE Mississippi rver.
see g. That the limitation Of three millions Of dollars,
"a expressed in the inst section this act shall not be
receiving greater amount, offered loans accruing
on taxes under this Provided That the imposed
bv provisions of this act upon gold and silver coin
gold and silver bullion, gold dust and foreign exchange
when paid the amount thereof loaned ia pursuance u
the first and second sections Of this act shall he lieu
of all other taxes imposed tie articles by am
other act Provided further That the tax Of - per
levied by the second section of this act shall he in lieu al
all other taxes imposed the article b any OTHER
act and the tax imposed by this shall lie assessed
al the date of the passage of this act
Approved March II, 1860.
\ true copy JAMES NJ. MATTHEWS,
mhaI--tapl Law Clerk