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This Day in Georgia Civil War History

December 14, 1863

Act Encouraged Investment in Confederate Bonds, Land, Slaves

The Georgia General Assembly passed an Act authorizing Georgia “Guardians, Trustees, Executors” to invest in Confederate bonds, lands, and negroes.

Full Title: Act to amend an Act entitled an Act to authorize Guardians, Trustees, Executors and Administrators to invest in Confederate bonds and in land and negroes, assented to December 16th, 1861. 1. SEC. I. The General Assembly of Georgia do enact, That the [Illegible Text] to authorize Guardians, Trustees, Executors and [Illegible Text] to invest in Confederate bonds and in lands and negroes, [Illegible Text] to December 16th, 1861, is hereby amended as follows: in [Illegible Text] to the investment in said Act authorized, Guardians, [Illegible Text], Administrators and Trustees are hereby authorized to [Illegible Text] in interest-bearing Treasury notes of the Confederate States, [Illegible Text] all such bonds as may have been and may hereafter be issued the Confederate States and by the State of Georgia; provided, [Illegible Text] before making any such investment as in said Act allowed, and [Illegible Text] this Act is allowed, the Exe’r., Adm’r., Guar’n or Trustee, so [Illegible Text] to invest, shall first make application to the Judge of the [Illegible Text] Court of the circuit in which he resides, or in case of the absence such Judge from the State, the Judge of any adjoining circuit [Illegible Text] leave to do so, whereupon the Judge is hereby authorized to [Illegible Text] testimony and argument either at term time or at chambers in [Illegible Text], as to which of the investments authorized is the best for [Illegible Text] interest of the wards, heirs, legatees or cestui qui trust; and all in his order direct in what securities or property the proposed [Illegible Text] shall be made; and whenever such investment shall be [Illegible Text] in bonds or interest-bearing notes of the Confederate States America, or bonds of the State of Georgia, the Executor, Administrator, Guardian or Trustee so investing, shall within twelve months thereafter, make a legal return thereof, in which he shall [Illegible Text] forth the prices paid, the time of the purchase and the name the seller; and whenever the investment shall have been made [Illegible Text] and negroes or other property, he shall set forth a [Illegible Text] description thereof, stating price, and from whom and when [Illegible Text], all which shall be entered on record by the Ordinary [Illegible Text] to like scrutiny and exceptions, with other returns of [Illegible Text] acting in any of the above mentioned capacities. [Sidenote: Guardians, executors, administrators, &c., allowed to invest their funds in interest bearing notes of Confed. States & in any bonds of Government or the State, already issued or to be issued.] [Sidenote: Proviso.] [Sidenote: Must first make applicato Judge of Sup’r Court.] [Sidenote: Within 12 months after investment full and specific returns to be made.] [Sidenote: Same as to investment in land and negroes.] SEC. II. Repeals conflicting laws. Approval Date: Assented to Dec. 14, 1863.