Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1865-03-31
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no. 1891
A y ACT TO RAISE COIN FOR THE PURPOSE or
- FURNISHING NECESSARY SUPPLIES FOR ThE
AnMY.
The Congress ~ tn Confederate state. Of America 10
enact That in ord procure the Of purchasing
SUPPLIES for the amy the Secretary of the nsa-nrg I'm.
direction the President be IT, here By
authO,i1cl 10 borrow nom any BANK, banking company.
corporation, assoc alton person, any sums in
c'in not TO exceed thee millions Of dollars in the agPr
cate aud tn secure tile repayment 0 any
borrowed at such time as may he agreed upon. not 10
exceed years after the ratification of treaty OF peace
between the Come onte states and the nited States
10 be issued bonds of the C0hiedc ate States in
such convenient may be- agiecd ubun pay abe in
and to bear interest the rate OF A per cent per
Rnnum payable semi annually in specie; and 10 secure
the Trd ynent of any borrO ed with tie
interest thereon tie said Secretary ne turtle. authorized
and empowered to pledge in such legal form may lie
agreed upon amy cotton tobacco owned Us the Cow
crnnent 10 the eNtel; in value of any such loan
tanned 0r the proceeds thereof wien sold 10 convey
such cotton tubG any part thfeof in absolute
payment of such loan ith the right the part ne
lender e such coin Ia export transport such cotton
and obacc0 beyond the limits of tie C0nederatsStaas
free from any mOestatiOn the pant OF the authorities
OF The Confederate States the payment OF any dntv.
except to the extent OF onoeighth per cent. impose
by law,
See. ?. In the event the Secretary Of the Treasury
shall not he able at once TO obtain coin the amaut
of three millions Of dollars under the provisions ri the
first section OF this act then and in that event tax
shall he levied AM collected of TWENTY-FIVE per cent Ip.
ola the amount Of all gold and silver coin gold dust at
bullion ana OICgn exchange IN the Come ucrdta states.
pa able III kind which shall be due and collected on
the inst day OF April soon thereafter pos
sihe Provided Thar the above tax shall he levied
upon the gold silver coin gold dust and bullion and
t"re IN exchange owned or possessed by any person
when the amount owned or possessed sla exceed
hundred dollars in value shall the said tax he
e, ic gold silver com gold dust bullion OF for.
cgn exchange which. within thirty days alter the pas
sage OF this act shall be lent 10 the government under
TIE pros soas Of the fret section OF this act Nor upon
gold silver coin, gold dust bullion foreign cx.
..Inre of who has made a loan Ia tho
nueHt according the said first section of not less
twenty five per cent. Of the gold silver coin gold
st.ibuoIior foreign exchange owned and possessed
sdch person at the time Of the passage OF this act,
ri ii ans state OF the COnfedeTacY boTroWs from anv
tank coin bullion and lends II to the Confederate gov
eminent the bank thar lends such coin bullion shall
he allowed credit against this to the extent of such
loan nd provided also, That the delay Of thirty days
mentioned in this section shall he extended one hun
ded aud twenty day. TOR all portions OF the COnleleracy
be yond The Mississippi river.
sec That tie limit alton of three millions OF dollars
as expressed in the first section of this act hal not lie
construed prohibit the Secretary Of the Treasury from
receiving greater amount offered as loans accruing
on taxes under this act Provided, That the imposed
nv tie provisions oil this upon gold and silver coin
gold and silver bullion gold dust and foreign exchange
when paid the amount thereof loaned in Pursuance t
the st and second sections Of this act shall he i'll lieu
OF all other taxes Imposed the articles by ans
other act Provided further That the tax Of q per cent
cvcd BY the second section this act shall DC IN lieu
~ Other taxes imposed the Article 10y any other
at the date ofthc passage Of this act.
Approved Msrch II, 1866
A true copy: JANIsN. MATTHEW'S.
mh1l-tall Law Clerk.