The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1865-03-30
mo. 1897

AN ACT RAISE COIN FOR THE PURPOSE OF FUR.
NIsnISe NECESSARY SUPPLIES FOR TlhE ARMY.
The Congress Of the Confederate States cf Ame-
RIGA ITO enact That, in order to procure the means
of purchasing supplies for the army. the Secretary
of the Treasury, under the direction Of the PreH.
dent, be, and he is hereby, authorized TO borrow
from any bank, banking company, corporation, as
sociation, OF person, any sum Or SUMS in coin,
not to exceed three millions Of dollars in the ag.
grcgate; and to secure the repayment OF any sum
or sums borrowed, Mt such time rs may be agreed
upon not to exceed 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 sums as
may be agreed upon, payable In coin, and to bear
interest at the rate OF six per cent. per annu1n,
payable semi-annually in specie; and to secure the
repayment Of any sum or sums 20 borrowed, with
the interest there0n the SAID secretary Do
authorized and empowered to pledge, in 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 SO 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 co.,
ton and tobacco beyond the limits o. the Coniede.
rate States free from any molestation On the part
of the authorities Of the Confederate States or the
payment of any duty, except to the extent Of ono.
eighth per cent, now imposed by Law.
SECTION 2. LII the event the secretary o. the
Treasury shall not be able at once to obtain com
to the amount Of three millions Of dollars, under
the provisions of the first section Of this act, then,
IL,
lccted Of twenty -nvo per cent upon the amount q
all gold and dysr iS State:
IN kind, which tax shall be due and collected on
the first day of April next, or as soon theresfter -
possible: Proridfd, That the above tax shall not
be LEVIED upon the gold silver coin, gold dast ana
bv ' anv person when the amount 50 owned OF pos
| sesscd shall not exceed two hundred dollars In
value nor shall the said tax be levied on gold O.
silver coin, gold dust, bullion foreign exchange,
thirty d0vs AFTER the al thu
act, shall be lent to the Government under the
provisions of the first section Of this act Nor upon
the gold silver coin, gold dust, bullion or forsn
exchange. Of any person who has made asoan 70 the
Government. according to the said first section. Of
no. less than twenty five per cent Of the gold or
silver coin gold dust, bullion or foreign exchange.
owned and possessed by such peIson at the tune OF
the passage of this act and if any State Of the Con-
| federacy borrows from any bank, coin or huilions
and lends it 10 the Confederate 0overnment. tho
| bank that lends such coin or bullion shall be al
lowed credit against this ia to the extent Of seh
loan And, pyorided also, That the delay OF thirty
days, mentioned in this section, shall BE exes0de1
to one hundred and twenty days for al portions O
tho Confeleracy beyond the Mississippi river.
srcTIoS s. That the Limitation of three millions
Of dollars as expressed in the first section OF this
act shall not be construed to prohibit the secretary
q the Treasury from receiving ereassr Am souns ~.
P,orided, That the tax imposed by the provisions
of this act upon gold and silver coin, gold add sil
yer bullion, gold dust snd foreign exchange, wher
paid. or the amount thereof loaned in pursuance o
the first and second sections Of this act shall ne -
lieu OF all other taxes imposed on the same atucao
bv any other act Prorided further, That the =,
Of Twenty-Five per cent levied ny the :ecosd sec1oi
the article by sny other 9ct, ana sns ~,
imposed by this act shall be assessed - as tne oaS
| OF the passage Of this act
Approved March IL, 1863.
true S%zzs ;sps NJ. xArEMxs
|: NH 2e-.Al Law Clesk.