in addition to the amounts heretofore authorized to be issued by an act entitled "An act to authorize the issue of Treasury notes and to provide a war tax for their redemption," approved August 19, 1861, and by the further supplemental act to the above-cited act, approved December 19, 1861, from time to time, as the public necessities may require. Treasury notes, certificates of stock, and bonds, not to exceed in the aggregate the sum of $215,000,000, of which $50,000,000 in Treasury notes, to be used as a reserve fund, and to be issued to pay any sudden or unexpected call for deposits; and $165,000,000 certificates of stock or bonds: the said Treasury notes, certificates of stock, and bonds to be issued under the same forms, conditions and restrictions as are provided by the above-cited acts, in every respect and particular: Provided, however, That the Secretary of the Treasury may, if he shall deem the same advisable, effect a loan, at home or abroad, in specie funds or bills of exchange or Treasury notes, by a sale of the said bonds or stock upon such terms as may be found practicable: And provided, further, That all bonds issued under this section shall be made redeemable at the pleasure of the Government after the expiration of ten years from their respective dates, but the faith of the Government shall be pledged to redeem the same at the expiration of thirty years from such dates.
SEC. 2. The Secretary of the Treasury may issue in exchange for any of the Treasury notes which may be issued under this or any other law, bonds or certificates, payable in not more than ten years, at a rate of interest not exceeding 6 per cent. per annum, payable semi-annually, to the extent of $50,000,000 which $50,000,000 shall constitute part of the $165,000,000 of stock and bonds above authorized; the said bonds or certificates to be reconvertible, at the pleasure of the holder, into Treasury notes, and the said exchange and re-exchange to be subject to such regulations as the Secretary of the Treasury may prescribe.
SEC. 3. The form of the said bonds or certificates authorized by the second section above, shall be determined by the Secretary of the Treasury; the said certificates may be issued with or without coupons, and may be made payable to order or bearer, as may be deemed expedient.
Approved April 18 , 1862.
CONFEDERATE STATES OF AMERICA, WAR DEPARTMENT,
Richmond, Va., April 12, 1862.
His Excellency Governor J. E. BROWN,
DEAR SIR: I have just received your kind letter of the 3d and reciprocate most cordially your wishes for harmonious action between the State and Confederate Government in the present contest. In a struggle which involves the existence of both, I am persuaded that we only need mutual patience and forbearance to insure a good understanding. Sometimes things may happen requiring explanation, and all that we should ask is the opportunity for such explanation. The conscription bill passed the Senate yesterday by a vote of 19 to 5, and will, no doubt, go through the House. This will render a redistribution of arms unnecessary, and I hope will effectually