April 11, 1863, The Charleston Mercury
On the 23d instant all the Confederate Treasury notes, dated prior to December 2d, 1862, will cease to be fundable in eight per cent. bonds, but will be fundable until the 1st of August in seven per cent. bonds. To facilitate the funding of these notes, the Secretary of the Treasury has established depositaries in the principal cities and towns of each State in the Confederacy. The inducement to fund in eight per cent. bonds before the 22d of this month, when the privilege ceases, is that the holder of Confederate bonds will be exempt from taxation to the amount of the bonds so held. A bond which yields eight per cent. interest is, of course, better than one which yields only seven per cent., and those who now invest in eight per cents. will, doubtless, have any opportunity, ere long, of selling their bonds at a premium. Eight per cent. bonds of the hundred million loan, long dates, are already selling at a premium of five per cent., and when this premium advances to eight or ten per cent. the bonds now issued, bearing eight per cent., will also command a premium.