Page:Ruffhead - The Statutes at Large - vol 6.djvu/511

A. D. 1742. Anno decimo quinto Georgii II. C. 13.* 44.5 chequer Orders, or Parliamentary Funds, which the faid Governor and Company, or their Succeflbrs fhould have remaining in their Hands, or be intitled to, at the Time of fuch Notice to be given as al faid ; (fuch Funds, for Redemption whereof other Provision was made in the fame A£t, only cx< cpted) then' or in fuch Cafe, and not till then, the faid yearly Fund of one hundred thoufand Pounds, (hould ceafe'and determine ; as by the faid Aft (Relation being thereunto had) may more plainly appear: And whereas by an Act of Parliament made and palled in the twelfth Year of her faid late Majefty's Reign, »"<> '* Anne, (intituled, An A£i to raife one million two hundred thoufand Pounds for publick Ufes, by circulating a /farther •'*• '■ Cl "• Sum in Exchequer Bills, and for enabling her Majejly to raife five hundred thoujand Pounds on the Revenues appointed for the Ufes of her Civil Government, to be applied for or towards Payment of fuch Debts and Ar- rears owing to her Servants, Tradefmen, and others, as are therein mentioned) it is, amongft other Things, peale_ ceflbrs for ever, fhould remain, continue, and be one Body Corporate and Politick, by the Name of The Governor and Company of the Bank of England, and fhould for ever have, receive, and enjoy the faid entire yearly Fund of one hundred thoufand Pounds out of the faid Rates and Duties of Excife, together with a perpetual Succeffion, and all Abilities, Capacities, Powers, Authorities, Franchifes, Ex- emptions, Privileges, Profits, and Advantages whatfoever, whercunto the Governor and Company, of the Bank of England are, or before the making of the faid Aft were intitled by any Aft or Afts of Par- liament, Grants, or Charters then in Force, fubjeft neverthelefs to fuch Reftrictions, Rules, Directions, Agreements, Matters, and Things, as in the faid Afts and Charters, or any of them, then in Force, were contained or prefcribed ; and it was thereby alfo further provided and enafted, That at any Time, upon twelve Months Notice, after the firft Day of Augujl, which fhould be in the Year of our Lord one thoufand feven hundred and forty-two, and not before, and upon Repayment by Parliament to the faid Governor and Company of the Bank of England, or their Succeflbrs, of the faid Sum of one million fix hundred thoufand Pounds, without any Deduction, Difcount, or Abatement whatfoever, and upon Pay- ment to the faid Governor and Company, and their Succeflbrs, of all Arrears of the faid one hundred thoufand Pounds per Annum, and all the Principal and Intereft Money which fhould be owing to them upon all fuch Tallies, Exchequer Orders, or Parliamentary Funds, which the faid Governor and Com- pany, or their Succeflbrs, fhould have remaining in their Hands, or be entitled to, at the Time of fuch No- tice to be given, as aforefaid ; (fuch Funds, for Redemption whereof other Provifion is made in the faid former Afts, or any of them, or in the faid recited Aft, always excepted) then, and in fuch Cafe, and not till then, the faid yearly Fund of one hundred thoufand Pounds fhould ceafe and determine ; and it is alfo further provided and enafted, That from and after fuch Redemption of the faid one hundred thoufand Pounds per Annum, and from and after Redemption fhould be made by Parliament of the Annuity of one hundred and fix thoufand five hundred and one Pounds thirteen Shillings and five Pence, by the faid recited Aft of the feventh Year of her faid late Majefty's Reign, fettled and payable to the faid Go- vernor and Company, in the Manner therein mentioned, and from and after Redemption fhould likewife be made of the Fund eftabiifhed by the faid recited Aft, in relation to the faid Exchequer Bills ; then, and not till then, the faid Corporation of the Governor and Company of the Bank of England fhould ceafe and determine ; but till then the faid Governor and Company fhould continue a Corporation, and fhould have and enjoy all the Powers and Privileges they were entitled to, as aforefaid, as by the fame Aft (Relation being thereunto had) may more fully appear : And whereas the faid Governor and Company of the Bank of England, in regard the common Intereft for Money is very much leflened under your Majefty's moft aufpicious Government, are willing and contented to advance and pay into the Receipt of your Ma- jefty's Exchequer, towards the Supply granted to your Majefty for the Service of the Year one thoufand (even hundred and forty-two, the further Sum of one million fix hundred thoufand Pounds, upon their prefent yearly Fund of one hundred thoufand Pounds, being allowed a Difcount after the Rate of three Pounds per Centum per Annum for the fame, from the refpeftive Time or Times of advancing or paying the (aid Sum of one million fix hundred thoufand Pounds, or any Part thereof, into the Exchequer, as aforTaid, to the firft Day of Auguft one thoufand feven hundred and forty-three, over and above the faid yearly Fund of one hundred thoufand Pounds, and the faid Governor and Company of the Bank of England are alfo willing_ to accept of an Annuity of ninety-fix thoufand Pounds from the faid firft Day of Auguft one thoufand feven hundred and forty-three, being after the Rate of three Pounds per Centum per Annum, upon the whole Principal Sum of three million two hundred thoufand Pounds, together with the Allowance of four thoufand Pounds per Annum, hitherto granted them towards their Charges of Ma- nagement, fubjeft to fuch Conditions and Power of Redemption as are herein after mentioned ; provided that the prefent yearly Fund of one hundred thoufand Pounds payable to the faid Governor and Com- pany, inrefpeft of their faid Original Capital of one million fix hundred thoufand Pounds, be continued unto them until the faid firft Day of Auguft one thoufand feven hundred and forty-three, and that the Privilege of exclufive banking, and all other the Abilities, Capacities, Powers, Authorities, Franchifes, Exemptions, Privileges, Profits, and Advantages in this Aft, or any former Act mentioned or contained, be granted and confirmed to the faid Governor and Company :' Now we your Majefty's moft dutiful and loyal Subjefts the Commons of Great Britain in Parliament affembled, being defirous, not only to raife the necelfary Supplies with as much Eafe as is pofiible to your Majefty's Subjefts, for the carrying on the prefent War with Vigour, but alfo to ufe fuch Ways and Means in doing thereof, as that your Majefty may have the better and more fpeedy Effect of the faid Supplies, and to encourage the faid Governor and Company to advance the faid Sum of one million fix hundred thoufand Pounds in the Manner herein after- mentionedj do moft humbly befeech your Majefty that it may be enafted j and be it enafted by the King's-