LOAN UNDER 'ACT TO RAISE SUPPLIES FOR THE YEAR COMMENCING OCTOBER 1, 1860.' $500. STATE OF SOUTH CAROLINA. NO. 75 CHARLESTON, 1ST FEBRUARY, 1861. BE IT KNOWN, THAT THERE IS DUE BY THE STATE OF SOUTH CAROLINA UNTO JOHN FISHER JR. OR BEARER, THE SUM OF FIVE HUNDRED DOLLARS, REDEEMABLE AT THE TREASURY IN THIS CITY, ON THE 1ST DAY OF JULY, IN THE YEAR EIGHTEEN HUNDRED AND SEVENTY-TWO, BEARING INTEREST AT THE RATE OF SEVEN PER CENT PER ANNUM, PAYABLE ANNUALLY, ON THE 1ST DAY OF JULY, AT THE TREASURY, IN CHARLESTON, ON PRESENTATION OF THE ANNEXED COUPONS... SIGNED BY THE PRESIDENT, AND COUNTERSIGNED BY THE CASHIER, OF THE BANK OF THE STATE OF SOUTH CAROLINA, UNDER THE PROVISIONS OF THE ABOVE ACT

[Charleston, SC]: Evans & Cogswell, Print., 1861. 10" x 11-1/2", including eight annexed coupons in four rows of two coupons each. Bond surrounded by ornamental border. Cuts of South Carolina's palmetto flag and a palmetto tree surrounded by agricultural products, a ship and steam train in the background. Fisher's name and the number '75' are in manuscript. The bond is signed in ink at the bottom by Thos. R. Waring, Cashier, and C.M. Furman, President. The coupons are signed in ink by Jno. D. Alexander, "By authority of Legislature." Fine.

The Act to Raise Supplies for the Year Commencing October 1860 was ratified on January 28, 1861. It levied taxes on land, slaves, free Negroes, mulattos or mestizos, professions, factorage, and other targets of opportunity. Under Section VIII of the Act, "The President of the Bank of the State of South Carolina was authorized and required to issue... four hundred certificates or bonds, of the value of five hundred dollars each, to be signed by the said President and countersigned by the Cashier of the said bank, bearing interest at the rate of seven per cent, per annum, payable on the first day of July, of each and every year, at the Treasury... which said certificates or bonds shall have suitable coupons, to be signed by an officer appointed by the President of the said Bank, attached thereto." All proceeds from the bond sales were to be placed in the Treasury at Charleston for the use of the Governor.
Charles Manning Furman [1797-1872] was a native of Charleston, South Carolina. A lawyer, he served in several State governmental capacities and became cashier and later president of Bank of the State of South Carolina. He was also a director of the South Carolina Railroad, and a delegate at Carolina's secession convention in 1860. Thomas R. Waring and John D. Alexander were bank officers. The purchaser of this bond, John Fisher, Jr., was likely John Fisher of Richland, born about 1802 and listed in the 1860 Federal Census as "Cash Br. Bank."
Not located in Parrish & Willingham, Crandall, Turnbull, or on OCLC.