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This Day in Georgia Civil War History

March 17, 1864

Governor Authorized to Fund Notes with Bonds

The Georgia General Assembly passed an act authorizing the Governor to fund Confederate notes remaining in the state treasury at a six percent rate in bonds.

Law Number: (No. 51.) The General Assembly of the State of Georgia do resolve, That His Excellency the Governor, be, and he is hereby authorized, to have funded in six per cent bonds, provided for by the act of Congress, all Confederate notes which may remain in the Treasury, or may be in the hands of the financial agents of the State, after the first day of April next; and to sell and dispose of such bonds at their market value in currency, which can be made available in payments to be made by the Treasury; and to credit the Treasurer with any losses that may accrue, by reason of the failure of the bonds to bring their par value, when sold. [Sidenote: Gov. authorized to have funded in six per cent. Con. bonds all Confed. notes belongiug to the State.] [Sidenote: State Treasurer to be eredited with loses for sales helow par.] Approval Date: Assented to, March 17th, 1864.