such acceptance, or that you will send to Mr. George H. Giddings full authority to execute to us the necessary receipts. We sincerely hope that in the exchange of these funds much benefit may be derived by the Confederate States, and that by their use arms, ammunition, & c., may be purchased that will materially aid in driving from our soil the base and foul invaders.
We have the honor to be, yours, very respectfully,
F. R. LUBBOCK,
CLEM. R. JOHNS,
C. H. RANDOLPH,
[Inclosure No. 1.]
AN ACT to provide funds for military purposes.
SECTION 1. Be it enacted by the Legislature of the State of Texas, That the Governor, comptroller, and treasurer shall constitute a military board, and a majority of said board shall have the power to provide for the defense of the State by means of any bonds and coupons which may be in the treasury on any account, and may so use such funds o r their proceeds, and therefore may sell, hypothecate, or barter such bonds and coupons, provided such disposal shall not exceed the amount of $ 1,000,000 of such bonds and coupons, and that they shall not be disposed of at any discount greater than 20 per cent. of their face amounts.
SEC. 2. Any bonds which may be disposed of under the provisions of this act shall be substituted by equal amounts of any bonds of the Confederate States of America that may be obtained by this State, and the bonds so substituted, respectively, in all respects shall be inn place of the funds disposed of as aforesaid.
SEC. 3. That this act be in force from and after its passage.
N. H. DARNELL,
Speaker of the House of Representatives.
JNO. M. CROCKETT,
President of the Senate.
Approved January 11, 1862.
F. R. LUBBOCK.
Austin, January 13, 1862.
I certify that the foregoing is a true copy of the original act.
F. R. LUBBOCK.
[Inclosure No. 2.]
Received, Austin, January 13, 1862, of F. R. Lubbock, Governor; C. R. Johns, comptroller; and C. H. Randolph, treasurer, constituting the military board established by the Legislature of the State of Texas, 100 U. S. bonds bearing 5 per cent. interest of $ 1,000 each, with coupons attached, which bonds I hereby receive and take charge of as the agent of the Ordnance Bureau of the Confederate States Government for the purchase of arms and munitions of war generally, with the positive understanding that the War Department will recognize my authority and pay over to the military board aforesaid bonds of the Confederate States for a like amount bearing 8 per cent. interest.
Witness my hand:
G. H. GIDDINGS,
Agent Ordnance Bureau.