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Jefferson Davis, The Rise and Fall of the Confederate Government, Chapter 13: (search)
ty-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 in eight per cent bonds or stock during the ensuing thirty days, and during the succeeding three months in seven per cent bonds or stock, after which they ceased to be fundable. All treasury notes not bearing interest, and issued after December 1, 1862, until