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Jefferson Davis, The Rise and Fall of the Confederate Government, Chapter 13: (search)
ssued in denominations of one and two dollars, which were receivable for all public dues except the cotton duty. An amount of treasury notes bearing interest at two cents per day on each hundred dollars, as a substitute for as much of the one hundred and sixty-five millions of bonds authorized, was also authorized to be issued. On September 19, 1862, three million five hundred thousand dollars in bonds was authorized to be issued to meet a contract for six ironclad vessels of war. On September 23, 1862, the amount of treasury notes under the denomination of five dollars was increased from five million to ten million dollars, and a further issue of bonds or certificates of stock, to the amount of fifty million dollars, was authorized. On March 23, 1863, an effort was made to remove from circulation some of the issues of treasury notes by funding them. For this purpose it was provided that all treasury notes not bearing interest, issued prior to December, 1862, should be fundable i