Page:Ruffhead - The Statutes at Large - vol 4.djvu/657

 A. D. I7i3« Anno duodecimo An N^ Reginae. Stat, i. 60 them for ready Money as fliould, from Time to Time, have pafTed through your Majefty's Revenue or Taxes, and alfo through the Exchequer in the Manner therein mentioned) fhould have an Allowance after the Rate of three Fonnds per Cent, per Ann. for the whole Sum of the faid Bills, amounting to two Mil- lions and nine hundred thoufand Pounds; And whereas in and by the faid Aftofthe feventh Year of your 7 Ann. c. 7, Majefty's Reign, certain Duties were granted, continued, or made payable to your Majefly, your Heirs and SucceiTors, for ever (fubjedt to fuch Redemption as is therein exprefied) that is to fay, the Duties called the two Thirds of a Subfidy of Tonnage and Poundage therein mentioned, which were to talce Effect: by that AcSt, from the feventh Day o^ March one thoufand feven hundred and eleven, certain Du- ties upon Coffee, Cocoa Nuts, Chocolate, Cocoa Pafte, Tea, Nutmegs, Cinnamon, Cloves, Mace, Pic- tures and Muflins, and certain increafed Duties upon Coffee, Cocoa Nuts, Chocolate, Cocoa Paflre, Tea, Nutmegs, Cinnamon, Cloves, Mace and Piftures, and certain further Rates or Duties upon all white Callicoes, Porcelan, commonly called China Ware, and Drugs ; all which are to take Effect by the A£t laft mentioned, from the twenty-third Day oi June one thoufand feven hundred and fourteen; and one Half of another Subfidy of Tonnage and Poundage therein mentioned, which is to take Effeft from and after the laft Day oijuly one thoufand feven hundred and fourteen; and all the faid Duties fo granted, conti- nued, or made payable, together with the Surplus which fhould, from Time to Time, arife of or from the other Half of the fame Subfidy of Tonnage and Poundage (over and above eighty • thoufand Pounds per Ann. formerly charged thereupon for Payment of Annuities) and divers Arrears and other Sums of Mo- ney or Revenues more largely defcribed in the faid Adt of the feventh Year of your Majefty's Reign, are thereby, and by the other A€ts abovementioned, or fome of them, made a general Fund or Security for paying the faid Intereft which was to be born on the faid Bills, and the faid Allowance after the Rate of three PoundsJ)«r C^«^. per Ann. and for or towards raifing a yearly Sum of two hundred thoufand Pounds for paying off and cancelling the faid Bills; and by the aforefaid Afts, or fome of them, it was provided, that Qiiarterly at the four ufual Feafts of the Year, until the faid Duties fhould take Effect, and be fuffi- cient tor Payment of the faid Intereft and Allowance, there fhould be a Computation made of the Sum which on every of the faid Feaft Days fhould be due and owing (over and above fo much as fhould have been applied of the faid Duties to thofe Purpofes) for the faid Intereft and Allowance, and that other Exchequer Bills fhould be made out for fo muctf as fhould be fo computed to be due, bearing the like Intereft, and for circulating whereof the faid Governor and Company were to have the like Allow- ance of three Pounds per Cent, per Ann. and the Quarterly Bills fo made forth until and for the Quarter ended zt Lady-Day one thoufand feven hundred and thirteen, have amounted to the further Sum of four hundred and eighty thoufand three hundred and twelve Pounds, and ten Shillings, or thereabouts, and more Qiiarterly Bills of the like Nature may further be iffuable on the faid former A6ts : And by the fame Afts, or fome of them, it was declared and enafted. That out of the Remainder of the faid Duties and Reve- nues, when and as the fame fhould refpeftively take Effeft (Regard being firft had to the faid Payments for Intereft and Circulation, which are always to be preferred) the full Sum of two hundred thoufand Pounds, or fo much thereof as the faid Remainder would from Time to Time extend unto, fhould be appropriated for paying off all the Principal Money which fhould be contained in the faid Bills, and for cancelling the fame, until all the faid Bills fhould be difcharged and cancelled : And whereas by an A61 j^ecital of made and paffed in the ninth Year of your Majefty's Reign, for enabling and obliging the Bank of England g Ann. c. 7. to exchange all Exchequer Bills for ready Money upon Demand, it was ena£ted. That the full Sum of forty-five thoufand Pounds per Amu fhould be paid to and for the Ufe of the faid Governor and Com- pany, and their Succeffors, by Quarterly Payments, and by fuch Ways and Means, and in fuch Manner and Form, as in that A<S are prefcribed, until fuch Time as all the faid Quarterly Exchequer Bills made or to be made for Intereft or Allowance, as aforefaid, together with a Million of the faid Bills for two Mil- lions nine hundred thoufand Pounds fhall be paid off and cancelled, or until fuch Time as there fhall not be ftanding out and uncancelled more than one million and nine hundred thoufand Pounds in the whole of the faid Bills for two millions and nine hundred thoufand Pounds, and Quarterly Bills taken together (which of the Limitations aforefaid flrall firft happen) as by the faid feveral A<Ss, Relation being thereunto refpeftively had, may more fully appear: And whereas the faid Governor and Com- pany of the Bank oi England zk willing (for the Publick Service) to undertake the Circulation of the further Sum of twelve hundred thoufand Pounds in other Exchequer Bills to be iffued for your Majefty's Supply, and of fuch Quarterly Bills for Intereft and other Allowances, as fhall and may be made forth in Purfuance of this prefent ASt, fo as the faid Governor and Company may have fuch Encouragements, and fuch Terms and Advantages as are hereafter in this Aft expreffed :' Now we your Majefty's moft du- tiful and loyal Subjefls, the Commons of Great Britain in Parliament affembled, do humbly befeech your Majefty that it may be enadied, i^c.' Treafury may iffue out i, 200,000!. in Exchequer Bills. Bills to bear Intereft at tA. per Cent, per Diem- to the Bearer, and to the Bank 3 1. per Cent, per Ann. 8000I. above the .^50001. of 9 Ann. c. 7. to be paid to the Bank yearly, to commence 31 July 1713. and paid Quarterly. To be paid till no more than i,90o,':ool. ftand out uncancelled. gAnn.c.-j. Subfidies, Duties, fe^c. "jAnn-c."]. fhall be the gene- ral Fund and Security. The 3 1. per Cent, to be paid weekly. Treafury to dire£l Jmprtft Money for difcharging Intereft on Exchequer Bills. After paying the Intereft of 2 d per Cent. per Diem, an Allowance of 3I pef- Cent, per Ann. the Monies grown due on the 8000I. and 4.^,000]. per Ann. fhal! Quarterly be paid to the Bank, &c. Remainder appropriated for paying off and difcharging Exchequer-Bills. See i Geo. i^ Stat. 2. c. iz. Se£f. 15. Till the Fund eftablifhed takes Effeft, Treafury to compute Quarterly the In- tereft due and owing, &c. And to make out other Bills for fo much as fhall be due, v/iih like Intereft and Currency, ^c. Deficiency to be made good by Parliament. Surplus difpofable by Parliament. Thefe Bills fhall be fubied to the Rules, iffc. of the former Ads, iffc. The Powers, i:fc. of the former " has