Page:Ruffhead - The Statutes at Large - vol 4.djvu/393

A.D. lyoS. Anno feptimo ANNiE Regins. C. 7. 341 Duties upon Houfes, to fecure a yearly Fund for circulating Exchequer Bills, whereby a Sum not exceeding fif- teen hundred thoufand Pounds is intended to be raifed for carrying on the War., and other her Majefly s Occqft- ons] feveral Duties upon Houfes therein mentioned or referred unto, are continued from the laft Day of 'July one thoufand feven hundred and ten, and from thenceforth made payable to your A-Iajefty, your Heirs and Succeflbrs for ever, for the Purpofes in that Aft expreffed, fubjeft to the Provifo or Con- dition of Redemption therein contained ; aiid the Duties fo continued, together with fiich Remainder and Arrears of Houfe Money, as are therein mentioned, are thereby charged with the yearly P'und, after the Rate of four Pounds ten Shillings per Centum per Annum, to be paid to the faid Governor and Company of the Bank oi England, for circulating all fuch Exchequer Bills as fhould be ilTued by or in purfuance of that AiSi: ; and by the fame Act: a Power was given for making forth Exchequer Bills for any Sum not exceeding fifteen hundred thoufand Pounds for your Majefty's Supply ; and it w.is thereby enacted, that like Bills fhould be made out quarterly for fo much as fhould be computed to be due and owing upon and for the faid Allowance of four Pounds ten Shillings per Centum per Annum, until the Feattof St. Jkfichael the Archangel one thoufand feven hundred and ten inclufively, in the Manner therein mentioned ; and it was thereby enafted, t'hat the faid Governor and Company, after the faid Exchequer Bills, or any of them, fhould be iflued upon that Aft as aforefaid, fiiould, from Time to Time, exchange all fuch Exchequer Bills as they fhould be required to exchange by any Ferfon or Perfons wlvatfoever for ready Money; and that the faid Governor and Company, and their Succeflbrs, fhould continue and remain a Corporation until all the faid Exchequer Bills fhould be redeemed and cancelled in the Manner in that Aft mentioned; and in the fame Aft there is contained a Provifo, that at any Time, upon on-s Year's Notice and Payment of the Principal Money to be due on the faid Exchequer Bills, and of fo much as fhould be due for the faid Allowance, after the Rate of four Pounds ten Shillings per Centum per Annu?n, for circulating the faid Exchequer Bills, then, and not till then, the faid Exchequer Bills fhould be cancelled and difcharged, and the faid Allowance after the Rate of four Pounds ten Shil- lings />«• Cf«/«w /tr yfewwOT, fhould ceafe and determine; and fo'much of the faid Duties on Houfes as fliould have been applied for the Payment of the faid four Pounds ten Shillings per Centum per Annum, in cafe the fame had continued, fhould from thenceforth be underflood to be redeemed by Parliament, and fhould not be iffued, paid, or applied to any Ufe or Purpofe whatfoever but by Authority of Parli- ament; and it is alfo thereby enafted, that the faid Governor and Company might call in from their re- fpeftive Members proportionably, any Sums of Money as they fliould think neceffary for the faid Cir- culation; and that until all the Exchequer Bills by that Aft directed to be iffued, fhould be paid ofF, difcharged, and cancelled, no more or other Bills of the like Nature fhould be made out and iffued at- the Receipt of her Majefty's Exchequer, either with or without the Authority of Parliament, unlefs with the Confent of the faid Governor and Company ; and that nothing in that Aft contained fisould hinder the Redemption of the faid original Fund of one hundred thoufand Pounds per Amwm, or of any other Funds granted or to be granted by Parliament, upon which the faid Governor and Company had or fhould have lent any Monies, and which were redeemable by Parliament, but that the fame might be redeemed from the faid Governor and Company, according to former Afts for that Purpofe, without redeeming the faid four Pounds ten Shillings per Centum per An?ium ; neverthelefs, without determining or diffolving the Corporation of the faid Governor and Company, un'til the faid four Pounds ten Shil- lings ^^r Centu?n per Annum, fnould be redeemed from them ; as by the faid feveral Afts, Relation being thereunto refpeftively had, more at large may appear: And whereas the fuid Governor and Company, New Subfcr'pti- for the better enabling themfelves to fupply the publick Exigencies, did lately confent to admit new ons for doubling Subfcriptions for doubling their then prefent Stock of two millions two hundred and one thoufand one the prefcnt Stock hundred feventy-one Pounds ten Shillings, at the Rate of one hundred and fifteen Pounds to be paid of the Bank. for every one hundred Pounds fubfcribed > and upon a CommifTion granted by your Majefly, under the great Seal of Great Britain, bearing Date the fixteenth Day of February in the feventh Year of your Reign, to Sir Thomas Abney, and others direfted, grounded upon an Addrefs of the Commons of Great Britain in Parliament afTembled, feveral Perfons have fubfcribed feveral Sums, amounting to two milli- ons two hundred and one thoufand one hundred feventy-one Pounds ten Shillings, for doubling the faid Stock as aforefaid, and have paid down to the faid Governor and Company, at or before their refpeftive Subfcriptions, one fifth Part of the Sums by them refpeftively fubfcribed, and are to pay the remaining four fifth Parts thereof, together with fifteen Pounds per Centum more (being in all one hundred and fif- teen Pounds for every one hundred Pounds fubfcribed) in Manner hereafter mentioned ; all which Sub- fcriptions are contained in Books of Vellum or Parchment for that Purpofe, attefted by three or more of the faid CommifTioners, and now remaining in the Cuflody of the Governor and Company of the Bank o^ England, whereof there are two Duplicates made in Vellum or Parchment, attefted by fe- ven or more of the faid Commiffioners ; and one of the faid Duplicates is delivered into the Office of^ the Auditor of the Receipt, and the other of them into the Office of the Clerk of the Pells in your Majefty's Exchequer, there to remain for ever :' Now for the better purfuing the Ends and Intent of the faid Sub- Ses<jAnr.. c. 7, fcribers in making fuch Subfcriptions-and Payment as aforefaid, it is hereby enafted, at the humble Suit of the faid Governor and Company of the Bank ol England, and be it enafted by the Qiieen's moft Ex- cellent Majefly, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Com- mons, in this prefent Parliament afFembled, and by Authority of the fame. That the feveral Sums New Subfrnpti- fubfcribed or written in the faid Books, amounting to the faid Sum of two millions two hundred and one ""= ^° be adoed thoufand one hundred feventy-one Pounds ten Shillings, fhall be added and united, and be judged and 'ifjl^ ^,^P."^^ deemed to be added and united to the Stock of the faid Governor and Company, which before fuch Ad- Bank, dition confifled of the like Sum of two millions tv/o hundred and one thoufand one hundred feventy-one Pounds