50 GEORGII III. Cap. CXIV.
WHEREAS the United Company of Merchants of England trading to the East Indies, at present labour and have for some Time past laboured under Difficulties, in the providing for certain Demands, by Creditors in the East Indies drawing upon the said Company in England: And whereas it is expedient that a Sum of Money should be advanced for the Relief of the said Company: And whereas it has been resolved, that a Sum not exceeding One million five hundred thousand Pounds be granted to His Majesty, to be applied for the Purpose of relieving the East India Company; We, Your Majesty's most dutiful and loyal Subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, do most humbly beseech Your Majesty, that it may be enacted, and be it enacted, by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal and Commons in the present Parliament assembled, and by the Authority of the same, Treasury may issue 1,500,000l. Exchequer Bills.That it shall be lawful for the Commissioners of His Majesty's Treasury, at any Time or Times before the Fifth Day of April One thousand eight hundred and eleven, to cause or direct any Number of Exchequer Bills to be made out at the Receipt of the Exchequer, for any Sum or Sums of Money, not exceeding in the Whole the Sum of One million five hundred thousand Pounds, in the same or like Manner, Form, and Order, and according to the same or the like Rules and Directions as are prescribed in an Act, passed in the Forty-eighth Year of His present Majesty's Reign, intituled, 48 G. 3. c. 1."An Act for regulating the issuing and paying off of Exchequer Bills."
Powers of recited Act extended to this Act.II. And be it further enacted, That all and every the Clauses, Provisoes, Powers, Privileges, Advantages, Penalties, Forfeitures, and Disabilities, contained in the said Act, shall be applied and extended to the Exchequer Bills to be made but in pursuance of this Act, as fully and effectually to all Intents and Purposes, as if the said several Clauses or Provisoes had been particularly repeated and re-enacted in the Body of this Act.
Exchequer Bills to be charged on the Supplies to be granted in the next Session.III. And be it further enacted. That the principal Sum or Sums of Money to be contained in such Exchequer Bills shall be and are hereby charged and chargeable upon, and shall be paid and discharged by and out of the Supplies to be granted in the next Session of Parliament.
Exchequer Bills to bear Interest after the rate of 3½ per Cent. per Diem.IV. And be it further enacted, That the Exchequer Bills to be made out In pursuance of this Act shall bear Date on the Days on which the same shall be respectively issued; and shall and may bear an Interest, not exceeding the Rate of Three-pence Half-penny per Centum per Diem, upon or in respect of the Whole of the Monies respectively contained therein, payable out of the Aids or Supplies in the Receipt of His Majesty's Exchequer.
Treasury to advance the Money raised on such Exchequer Bills to the East India Company.V. And be it further enacted, That it shall be lawful for the Commissioners of His Majesty's Treasury or any Three or more of them, and they are hereby required, at any Time before the Fifth Day of April One thousand eight hundred and eleven, to advance and pay the said United Company, out of the Money raised or which maybe raised upon such Exchequer Bills such Sums of Money not exceeding in the Whole the Produce of the Exchequer Bills allowed to be issued under this Act, and at such Times as shall be required by the said Company, for their Relief; and the said Company shall on or before the First Day of January One thousand eight hundred and twelve, pay into the Receipt of His Majesty's Exchequer at Westminster, such Sum or Sums of Money as shall be equal in Amount to the Money so to be advanced to the said Company, together with the Interest and Charges incident to and attending the Exchequer Bills to be issued, by virtue of this Act, or any other Exchequer Bills which may be issued under theAuthority
