The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1865-03-24
40 SO. !

Az ACT TO RAISE com FOR afi. ftAfo"" VI fOA'
Sls,lSc NECESSARY surFi.Ar FOR THE ARMY.
The Congress Of the Confederate States cf Ams-
RIGA do eSdct. That, i'll order to procure the mean
Of purchasing supplies for the afmy, the Secretary
Of the Treasury, under the direction OF the Presl-
dent, be- and ne is hereby, aXthoriznd to borrow
from any bank, banking company, corporation, As
sociation, person, any sum or sums in COIN,
not to exceed three millioAs of dollars in the ag
pregate; and to secure the repayment OF any sum
or sums so borrowed at such time may be agreed
upon to exceed two years after the ratification OF
a treaty Of peace between the Confederate States
and the United States to cause to be issued bonds Of
the Confederate States, i'll such convenient sums as
may be agreed upon, payable IN coin, and 70 pear
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, III 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, or the proceeds
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 or transport such cot
ton and tobacco beyond the limits OF the Coliede-
rate States free from any mOlestati0n on the part
of the authorities Of the Confederate States or 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
t, the amount Of three millions cf dollars, under
the provisions of the first section OF tins act then,
l a lJs
lected of twenty five per cent upon the amount Of
ali gold and silver coin. gold dust and bullion, ana
foreign exchange, in the Confederate States payable
( in kind which tax shall be due and collected ON
the first day of April next or as thereafter a.
possible Proridcd. That the above tax shall not
be leyieLlpon the gold or silver coin, gold dust and
bullion, md foreign exchange owned or possesscd
| by any person when the amount so owned or pos
| e ssed shall not exceed two hundred dollars III
value. nor hall the said tax be levied on goid or
liver coin gold dust, bullion or foreign exchange,
fknv VanSso on0 n
act, shall be lent TO the Government under the
provisions Of the first sect Of this act nor upon
the gold or silver COIN, gold dust bullion OF foreign
exchange OF any person VINO pas maae a. aioaa 70 '1s
not less than twenty-five per cent. OF the gold OF
silver can gold dust, bullion OF foreign exchange
owned and possessed by such pei son at the time Of
thc ,ssage of this act and if any state OF the Con-
fcdeiacy borrows from any bank. coin or bullion
and lends it to the Confederate Government, the
bank tha. lends such com or bullion shall be al
loan: And pr0ridcd also, That the delay Of thirty
days, mentioned in thi, section, ehal DO extended
to one hundred and twenty days for all portions Oi
: the Confcdcracy beyond the Mississippi RIVER.
SECTION 3. That the limitation Of three nilli0nl
Of dollars as expressed in the first section OF th
act shall be construed to prohibit the Secretary
of the Treasury from rec living greater amount
offer as loans accrung on taxes under this act
Pyorided, That the tax imposed by the provision
of this act upon gold and silver c0in gold and 81!
yer bullion, gold dust and foreign exchange, vhc'
paid. or the amount thereof loaned in pursuancc
the first and second sections Of thi. oct. shall Be u
lieu Of all other taxes imposed on the same article
by any other ac:: Proridcd further, That the fa
Of twenty per cent. levied by the second sector
ON the same article by any other act, and the tn
imposed by this shall be assessed ~ at tho dat
r | OF the passage Of this act.
Approved March II, 1865.
, A true S1Px JAMES NJ. MATTHEW'S.
1 NH 26-tAl Law Clerk.