The 7.30 or 2 cents Per diem, interest bearing $100 Confederate Treasury notes.
--The information contained in the following communication from the Treasury Department will be found interesting and important, and ought to give currency, at par and interest and render bankable, at same rate, the 7.30 or 2 cents per diem interest-bearing $100 Confederate Treasury notes: Treasury Department, C. S. A., Richmond, June 4, 1863.
R. Yeadon, Esq., Charleston, S. C.:
Dear Sir:
The question proposed in your letter, of 29th ult., as to the allowance of the interest, in arrear on the 7.30 Treasury notes, in payment of public dues, has never before been submitted.
By the terms of the Act of April 17th, 1862, these notes bear an interest of two cents per day on each hundred dollars, and said notes are declared to be receivable in payment of all public dues, except the export duty on cotton.
The legal effects of the words "two cents per day," is to make the interest a daily accruing debt, and, when this is followed by a direction that the notes are to be received for public dues, it seems to be a necessary legal conclusion that the accrued interest must attend the principal in its office of paying the public dues.
I am of opinion, therefore, that the interest accrued at the date of any payment to the public, should be allowed whenever the 7.30 notes are received for a public due. The notes, it retained by the holder, receive payment of interest, annually, on 1st January. R. Yeadon, Esq., Charleston, S. C.:
Dear Sir:
