A. D. 1731. Anno quarto Georgii II. C. 4, 5. 43 CAP. IV. An Act for granting an Aid to his Majefty by a Land-Tax to be raifed in Great Britain, for the Service of the Year one thoul'and feven hundred and thirty-one. EXP. zs. in the Pound. C A P. V. An Act for the further Application of the Sinking Fund, by paying off one million of South- Sea Annuities. Moft Gracious Sovereign, ' "1X7 HERE AS by an Act made in the ninth Year of his late Majefty King George the Firft 9 Geo. i. c. 6. ' VV (for reviving and adding two millions to the Capital Stock of the South Sea Company) the ' whole increafed Capital Stock of the faid Company, being then computed at thirty-three millions eight ' hundred and two thoufand four hundred eighty-three Pounds fourteen Shillings and a Halfpenny, was
- divided into two equal Parts, and one Moiety thereof, being therein ftated at fixteen millions nine hundred
- and one thoufand two hundred and forty-one Pounds feventeen Shillings and a Farthing, was to be con-
' verted into a Joint Stock, attended with certain Annuities payable out of the Funds of the faid Com-
- pany, in lieu of all the Dividends, Profits and Advantages fuch Moiety was then intitled to, after the
' Rate of Five Pounds per Centum per Annum, until the twenty-fourth Day of June one thoufand feven ' hundred and twenty-feven, and from thenceforth with Annuities at four Pounds per Centum per An-
- num, redeemable by Parliament, and the fame were thenceforward to be called The joint Stock of South-
- Sea Annuities ; and the other Moiety or Half Part of the faid whole Capital Stock, amounting to the
' like Sum of fixteen millions nine hundred and one thoufand two hundred and forty-one Pounds feven- ' teen Shillings and a Farthing, was to remain, continue and be in the faid Company as a Joint Stock ' in their own Right, attended with the Relidue of the Annuities or yearly Funds payable in the Exche-
- quer for their faid whole Capital, until the Redemption thereof by Parliament, and attended with the
- feveral Allowances fettled or to be fettled for Charges of Management, and with all the other Benefits,
' Profits of Trade, Privileges and Advantages then belonging to the faid Company; and by the fame
- Act it was provided, That after the Feaft of the Nativity of Saint John Baptiji in the Year of our
' Lord one thoufand feven hundred and twenty-feven the fame Stocks might be redeemed by any Pay- ' ments not lefs than five hundred thoufand Pounds at a Time, and that fuch Payments fhould from
- Time to Time be applied, either towards difcharging the Principal Sums which Ihould belong to the
' faid South-Sea Company in their own Right, or towards difcharging the Principal Sums of the faid
- South-Sea Annuities, or towards difcharging as well the Principal Sums of the faid Company, as of the
' faid South-Sea Annuities, in fuch Proportions, Manner and Form, as fhould be prefcribed by the re-' ' fpective Act or Acts of Parliament for furnifhing fuch Sums : And whereas by reafon or means of a ' fmall Error in computing the Amount of the whole increafed Capital Stock, and lince rectified, and by ' a Payment and Application of a Sum of five hundred thoufand Pounds in Moieties towards reducing ' the Capital Sums both of the Stock of the Company and of the Joint Stock of Annuities, in purfuance
- of an Act of the firft Year of the Reign of his prefent Majefty, the Capital Sum remaining due on each i Geo.2,Stat,3.
' of them did amount to fixteen millions fix hundred fifty-one thoufand one hundred and one Pounds <=• 8.
- twelve Shillings and nine Pence Farthing reflectively, and no more ; and by a further Payment and
' Application of one million of Pounds, towards reducing the Capital Sum of the Stock of the faid Com- ' pany, in purfuance of an Act of the third Year of his Majefty's Reign, the Capital Sum remaining due G g 4 on the Stock of the fame Company doth now amount to fifteen millions fix hundred fifty-one thoufand J °
- one hundred and one Pounds twelve Shillings and nine Pence Farthing, and on the joint Stock of
1 Annuities, to fixteen millions fix hundred fifty-one thoufand one hundred and one Pounds twelve Shil- 1 lings and nine Pence Farthing, and no more : And whereas it is deemed juft and equitable, that the
- Sum of one million Sterling fhould be paid and applied for and towards paying off fo much of the laid
- remaining Capital Stock or Principal Sum belonging to the faid Company, commonly called South'
- Sea Annuities ;' Be it therefore enacted by the King's moil Excellent Majelty, by and with the Advice
and Confent of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament sflembled, and by the Authority of the fame, That by or out of fuch Monies as are or fhall be in the Re- sinking Fund at ceipt of the Exchequer of the SurpluiTes, Exceffes or Overplus Monies, commonly called The Sink- Michael. 1731, ing Fund, arifen or to arife at or from the Feaft of Saint Michael the Archangel, which (hall be in the Year andfoquarteriy, of our Lord one thoufand feven hundred and thirty-one (after Payment of or referring fufficient to J°deemm< e ° r pay fuch Monies as have been directed by any former Act or Acts of Parliament to be paid out of the i,ooo,oco"i. of fame) there fhall be iffued and applied to the Governor and Company of Merchants of Great Britain South-Sea An- trading to the South-Seas and other Parts of America, and for encouraging the Filhery, at the faid Feaft- nulUe:, • Day, and afterwards quarterly from Time to Time, as the fame (hall arife, fuch Sum or Sums of Money as fhall on fuch Quarter-Day or Days be in the faid Receipt of Exchequer, for or towards redeem- . ing Part of the Annuities attending on the faid Capital Stock of Annuities remaining due to the laid Company, until the fame Payments fhall in the whole amount to the Sum of one million Sterling; and that as the faid Payments of Principal Money fhall be from Time to Time made, a pro- portional Part of their faid Capital Stock of Annuities, and of the Annuities attending thereon, fhall alfo from time to time ceafe and determine, for the Benefit of the Publick, G 2 « II. But
