The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1865-03-25
mo. 1884,

AN xcr m RAISE coIS FOR THE PURPOSE OF fvR-
N1si1NG NECESSARY SUPPLIES FOR THE ARMY.
The Conqress of the Confederate States Of Ame-
RIGA do Enact That, in order to procure the mcals
If purchasing supplies for the army, the Secretary
of the Treasury, under the direction OF the Presl-
dent. be. and he is hereby, authorized to borrow
from any bank, banking company, corporation, as
socaton OF person. any sum f d Tl s in the ar
ereeate; aud to secure the repayment OF any SUN
or sums so borrowed at such time as may be agreed
upon not to exceed two years after the
a treaty Of peace between the Confederate states
and the United States to to be issued Oonos OF
the Confederate States, in such convenient sums as
may be agreed upon, payable In COIN, ana to bear
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 DC turner
authorized and empowered to pledge, IN such iegai
owned by the government, to the extent IN value
OF oc any such loan 50 obtained, or the proceeds
thereof when sold, or to convey such cotton ana
of such loan, with the right on the part OF the
lender of such coin to export or such cot
ton and tobacco beyond the limits OF the Confede-
States free from any on Inc par th
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
to the amount of thtee millions ct dollars, under
the provisions of the first section OF this act then
and in that event, tax shall be levied apd col.
lected Of twenty per centpon .ae amour. o.
foreign exchange in the Confederate States payable
| in kind, which tax shall be due and collected on
| the first day of April Wxt, or as soon thefeatef0s
nossible: Ptorided, That the above tax shall not
be levied upon the gold silver coin, gold dust and
| bullion and foreign exchange owned or possessed
| by any person when the amount so owned or pos
| .essed shall not exceed two hundred dollars IN
| yalne nor shall the said tax be levied OF Id OF
silver coin, gold dust, bullion or foreign exchange,
which, within thirty days afer the passage of this
| act, shall be lent to the Government under the
provisions Of the first section OF this act MOI upon
the gold or silver coin, gold DUST bullion or foreign
Exchange, of any person who has made loan to the
Government. according to the said first section, OF
not less than twenty-five per cent. II the gold OF
/ silver coin, gold dust, bullion or foreign exchange
owned and possessed by such person at the time o.
the passage of this act and if any State OF the Con
federaey borrows FROM any bank, coin or bullion
| and lends it to the Confederate Government, the
| bank that lends such coin or bullion shall be al
lowed credit against this tax to the extent OF suct
loan And, provided also, That the delay Of thirty
days, mentioned in this section, shall be extended
the oc confsderacy beyond the Mississippi river
of dollars as expressed in the first section ef thi
act shall not be construed to prohibit the Secretar
Of the Treasury from receiving greater amount
offe, ell as loans accruing on taxes under this act
Prorided, That the tax imposed by the provision
of this act upon gold and silver coin, gold and sill
yer bullion, gold dust and foreign exchange, whe
paid, or the amount thereof loaned in pursuance
the first and second sections OF this act shall be
lieu of all other taxes imposed on the same article
by any other act Provided further, That the Ia
Of twenty-five per cent. levied by the second section
of this act shall be in lieu OF all other taxes impose
on the same article by any other act, and the ia
imposed by this act shall be assessed at the dat
| of the passage of this act.
> Approved March II, 1885.
A true copy:
JAMES n. MATTHEWS,
ii NH 26-tAl Law Clerk.