Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1865-03-30
no. Is9.


A y act TO RAISE com For THE PURPOSE OF
N FURNISHING NECESSARY SUPPLIES FOR THE
ARMY.
The Congress Of the Confederate States of America do
enact, That in order to procure the Of purchasing
supple. Tor the army the Secretary OF the Treasury -
the direction OF the President be and he Is hereby
authorized 10 borrow nom any bank banking company,
corporation association. or person. any or sums ia
not 10 exceed three millions OF dollars in the ager-
gate aud 20 secure the repayment OF any
borrowed AT such lime as may lie agreed upon, 10
exceed yeats ate. the ratification OF treaty Isace
etW the Confederate states GHj the nei states 10
be- issued bonds Of the Confederate STATES
such convenient may be agreed upon payab.c IN
coin aud bear interest az tie hf SIX pcr cent Der
amman payable sem'annually in specie; 10 sccie
TIE repayment eli any sum or sums borrow ei with tie
interest thereon the said Secretary be uthes authorized
and empowered pledge Ia such legal form may lie
agreed upon, any cotton tobacco owned 10y Tie
,Tneh Ia the extent in valge Of any such loan 50 Oh
Iainrd the pro se, thereof when o,d, convey
such cotton or tobacco anv part Thereof IN absolute
payment OF such loan Win The right the part OF the
lender q such coin, port transport such cotton
and tobacco beyond She limits of the Confederate States
free from any moiestaton the part of lie authorities
the Confederate States the payment Of dutl,
except to the een' NJ oneeghth er cent now imposed
by Law.
shall not be abe II obtain coin to the amount
of three millions OF dollars under the provisions the
irs section of this act thea and in that event tax
shall he levied and collected Of twenty per cent up
the amount o! all gold and silver coin gold dist and
bullion and foeign exchange in the Confederate States
payable in kind which tax shall be due aud collected on
the first day of April next, or as thereafter pos
sble Provided That the above tax shall not he levied
upon the gold silver coin gold dust and bullion and
foreign exchange owned OF possessed Ly any person
when The amount owned or possessed shall not exceed
Two hundred dollars in yalae, nor shan the said tax he
Wed OF gold or silver coin gold dust bullion iOr-
ci2n exchange which within thirty days after the pms
sage of this act shalt be lent 10 the government under
the provisions G the hrst section of thsact Nor upon
The gold siheI cuin, gold dust bullion foreign OK.
change OF any person who has made loan 10 the GOV.
ernmt according to the said first section Of not les
than twenty-five per cent. OF the gold silver coin gold
dust JLuiOnor foreign exchange owned aud possessed
b., such person The time Of the passage of this act
and any State of the C0nfcdcracy from any
bank coin bullion and lends 10 10 the Confederate gov
eminent the bank that lends such coin bullion shall
he allowed credit against this 10 the extent of such
loan A nd provided also That the delay of thirty days
mentioned in this section, shall be extended 10 nun
ded and twenty days for all portions of the Conederacy
beyond the Mississippi river.
See That the limitation OF three millions Of dollars
expressed in the st section Of THIS act shall not lie
construed prohibit the Secretary of the Treasury from
receiving greaera mount offered loans or accTuing
on taxes under this Provided That the tax imposed
by tie provisions Of this act upon gold and silver coin
gol and silver bullion gold dust and foreign exchange
When paid the amount thereof oaHel III pursuance Of
The lint and second sections of this AIT shall he In lieu
all other taxes imposed the articles by AM
other Provided further, That the tax Of - per cent
levied by the second section oil this act shall bee IN lieu Of
all Other imposed the article by any other
act and the tax imposed by this act shall he assessed
at the date of the passage OF this act
Approved March H. 1850.
true copy JAGEs u. MATTHEWS,
mh24--tspl Law Clerk.