Page:Ruffhead - The Statutes at Large - vol 5.djvu/566

 520 C. 9. Anno undecimo Georgii Regis. A. D. 1724.. 3 Geo. 1. c. S. determine ; and then alio the faid Duties on Houfes fhould be underftood to be redeemed by Parliament, and fhould not be iffued, paid or applied to any Ufe or Purpofe whatfoever, but by the Authority of Parliament : And whereas in an Act of Parliament, made and palled in the third Year of your Majefty's Reign, intituled, An Ail for redeeming feveral Funds of the Governor and Company of the Bank of England, purfuant to former Provifoes rf Redemption ; and for fecuring to tbem feveral new Funds and Allowances re- deemable by Parliament ; and for obliging them to advance further Sums, not exceeding two millions five hun- dred thoujand Pounds, at five Pounds per Centum per Annum, as jhall be found neceffary to be employed in lejjening the National Debts and Incumbrances ; and for continuing certain Provifions formerly made for the Ex- pence of your Majefrys Civil Government ; and for Payment of Annuities formerly pur chafed at the Rate of five Pounds per Centum ; and for other Purpofes in the faid Act mentioned, reciting, that the faid Go- vernor and Company of the Bank of England, in Regard the common Rate of Intereft- Money was very much leflened under your Majefty's moft aufpicious Government, and that feveral of the Funds of the faid Governor and Company of the Bank of England, in the faid Act mentioned, were redeemable at fuch Times, and in fuch Manner, as in the faid Act are particularly fet forth ; and that they the faid Governor and Company were willing and contented to accept one Annuity of eight-eight thoufand feven hundred fifty-one Pounds {even Shillings and ten Pence Half-Penny, being after the Rate of five Pounds per Centum per Annum, on the faid Principal Sum of one million feven hundred feventy-five thoufand twenty-feven Pounds feventeen Shillings and ten Pence Half-Penny, in Lieu of their then prefent Annuity or Sum of one hundred and fix thoufand five hundred and one Pounds thirteen Shillings and five Pence per Afitumi; and that the faid Governor and Company were alfo willing and contented to difcharge and deliver up to be cancelled, as many of the Exchequer-Bills, formerly made forth, as amounted to two millions in Principal Money, and to accept an Annuity or Sum of one hundred thou- fand Pounds per Annum, being after the Rate of five Pounds per Centum per Annum, for the fame : It was in and by the faid Act of the third Year of your Majefty's Reign enacted, That the faid Governor and Company of the Bank of England, and their Succeffors, fhould have, receive and enjoy the faid Annuity or 3'early Sum of eighty-eight thoufand feven hundred fifty-one Pounds feven Shillings and ten Pence- Half-penny, in refpect of the faid Principal Sum of one million feven hundred feventy-five thou- fand twenty-feven Pounds feventeen Shillings and ten Pence Half-penny; which annual or yearly Sum of eighty-eight thoufand feven hundred fifty-one Pounds feven Shillings and ten Pence Half-penny, was thereby charged upon, and made payable from time to time, out of all the Monies arifen or to arife, at the Receipt of your Majefty's Exchequer, of or for the particular Duties on Houfes therein mentioned, and of or for the faid Duties and Revenues, commonly called the Aggregrate Fund, and every or any of them, and was to be paid to the faid Governor and Company of the Bank of England, and their Succeffors for ever, from the Feaft of the Nativity of Saint John Baptifl one thoufand feven hundred and eighteen, at the four moft ufual Feafts or Days of Payment in the Year, by even and equal Portions ; all which Payments were to be made in fuch Manner and Form, and with fuch Pre- ference as are in the faid Adt prefcribed in that Behalf: But it was thereby alfo provided and enacted, That upon one Year's Notice to be given at the faid Feaft of the Nativity of Saint John Baptifl one thoufand feven hundred and eighteen, or any quarterly Feaft-day after, and upon Repayment by Par- liament, to the faid Governor and Company of the Bank of England, or their Succeffors, of the faid Sum of one million feven hundred feventy-five thoufand twenty-feven Pounds feventeen Shillings and ten Pence Half-penny, and of all Arrears of the faid Annuity of eighty-eight thoufand feven hundred fifty-one Pounds feven Shillings and ten Pence Half-penny per Annum (if any fhould be then due) ; then, and not till then, the faid Annuity of eighty-eight thoufand feven hundred fifty-one Pounds feven Shillings and ten Pence Half-penny per Annum, fhould ceafe and determine; and in and by the faid Act it was further provided and enacted, That the faid Governor and Company of the Bank of England fhould, on or before the twenty-fifth Day of December one thoufand feven hundred and feventeen, de- liver up as many Exchequer-Bills formerly made forth (then being uncancelled and undifcharged) as amounted to the Sum of two millions in Principal Money, to fuch Perfon or Perfons as the Commif- ' fioners of his Majefty's Treafury, or any three or more of them, or the High Treafurer for the Time being, fhould nominate, to be discharged, cancelled and made void; and that, from and after the Feaft of the Birth of our Lord Chrift one thoufand (even hundred and feventeen, the faid Governor and Com- pany of the Bank of England, and their Succeffors for ever, fhould have, receive and enjoy one An- nuity or yearly Sum of one hundred thoufand Pounds, being after the Rate of five Pounds per Centum per Anmm, computed upon the faid Principal Sum of two millions ; which yearly Sum of one hundred thoufand Pounds was thereby charged upon and made payable, from time to time, out of all the Monies arifing or to arife at the Receipt of your Majefty's Exchequer, as well of or for the faid feveral Du- ties, Revenues and Incomes, called the Aggregate Fund aforefaid, as of or for the faid particular Duties on Houfes, and was to be paid at fuch Times, and in fuch Manner and Form, and with fuch Prefe- rence as are in the faid Acl prefcribed in that Behalf: And it is by the faid Acl alfo enacted and pro- vided, That at any Time, upon one Year's Notice to be given at the Feaft of the Birth of our Lord Chrift one thoufand feven hundred and feventeen, or any quarterly Feaft-day after, and not before, and upon Repayment by Pailiament to the faid Governor and Company of the Bank of England, or their Succefibrs, of the laid Sum of two millions, and of all Arrearages of the faid yearly Sum of one hundred thoufand Pounds (if any fhould be due at the Time of fuch Payments) ; then, and not till then, the faid Annuity of one hundred thoufand Pounds per Annum fhould ceafe and determine, as in and by the laid Act it doth and may more fully and at large appear : And whereas purfuant to the faid Act, and the Provifions therein contained, the faid Governor and Company of the Bank of England did, on or ' bek'i'c