Page:Ruffhead - The Statutes at Large - vol 5.djvu/658

 620 i. C4- 370,000 1» granted to his Majefty. AnyPerfonsrnay lend on Credit of tbe overplus Mo- ney on Coals, at 4 1. per Cent. C„2t. Anno decimo tertio Geor gii Regis. A. D. 1726. and fatisfied, fhould be kept apart, and referved for the Difpofition of Parliament, and fhould not be dif- pofed or applied to any Ufe or Purpofe whatfoever r but by the Authority of Parliament, and accordingto fuch future Act or Acts of Parliament, as fhould be made and palled for the Difpofition thereof: And whereas by a fubfequent Ad of Parliament, made in the fixth Year of your Majefty's Reign, for enabling the South-Sea Company to enlarge the Capital Stock and Fund of the faid Company, the faid Duties on Coals and Culm were continued for ever; and it was thereby enacted, That the faid Governor and Com- pany might before the firft Day of March one thoufand feven hundred and twenty-one redeem all and every, or any the redeemable Debts and Incumbrances therein particularly fet forth and enumerated, in- cluding therein the faid Sum of five hundred thoufand Pounds for the faid Lottery, and the Securities for the fame, by paying off the fame, at the Rate of one hundred Pounds for every one hundred Pounds prin- cipal Money, and proportionably for a greater or leffer Sum; and it was thereby enacted, That upon fuch Payment of the refpective Sum or Sums payable to the Proprietors for fuch Redemption the fame fhould be adjudged to be redeemed, and the Intereft and Annuity payable in refpect thereof to the refpeclive Pro- prietors of fuch Debts and Incumbrances fhould thenceforth ceafe and determine to be payable to them, and in lieu thereof an Annuity after fuch and the like Rate as the Intereft Money and Annuity, as was then payable for or in refpect of fuch Debts or Incumbrances, fhould be from thenceforth payable to the faid Governor and Company, and their Succeffors, until Redemption by Parliament, and a proportional Addition in refpect thereof fhould be made to their Capital Stock; and it was by the fame Ait provided, That if the Proprietors of the faid redeemable Debts and Incumbrances fhould be willing to accept, in lieu of the faid Rate of one hundred Pounds per Centum in Money, a Share or Shares in the Capital or Joint Stock of the faid Company, at fuch Price as fhould be agreed on between the faid Company and tbe faid Proprietors, that then, in lieu of their refpective Debts, they fhould be entitled to fuch Shares in the faid Capital or joint Stock; and that fuch Perfons fo accepting Stock in lieu of Money fhould deliver up to fuch Perfon or Perfons, as for that Purpofe fhould be appointed, the Orders whereby fuch Propiietors were entitled to fuch Debts or Incumbrances, and that the Perfon or Perfons to be appointed for taking in the faid Orders fhould deliver the faid Orders into the Office of the Auditor of the Receipt of Exchequer, there to remain for ever; and that no Payments or Iffues upon any of the faid Orders fo delivered up fhould afterwards be made at the Exchequer, unlefs for Arrears of the faid Annuities or Intereft Monies; and the particular Duties, Revenues, Funds and Provifions charged with the Payment of the Annuities and Debts, which were payable by the faid Orders fo delivered up, fhould be thenceforth difcharged of and from the fame ; and by the fame laft mentioned Act it was enacted, That the faid Company fliould have 1 an additional Allowance for Charges of Management, in Proportion to the Annuities and Debts to be taken in or paid off", by them to be fettled in Manner as therein is mentioned ; and that the fame, together with the Sum then allowed them for Charges of Manag ment, fhould be charged upon and payable out of the particular Duties, Revenues and Incomes by the faid Act charged or intended to be charged to and with their then prefent Annuity, and the feveral Additions to be made thereto : And whereas, in Purfuance of the faid laft mentioned Act, the South-Sea Company did redeem fo much of the faid Debt of five hundred thoufand Pounds as amounted to the principal Sum of four hundred thirty-four thoufand fix hundred and five Pounds, by taking the fame into their Capita! Stock at the Prices agreed between them and the faid Proprietors, and the ftanding Orders for the fanje have been accordingly delivered up into the Office of the Auditor of the Receipt of Exchequer, and by Means thereof the faid Company are become entitled to an Annuity or yearly Sum of feventeen thoufand three hundred eighty-four Pounds four Shillings, being after the Rate of four Pou>-ds/)<?r Centum per Annum, in refpect of the faid principal Sum fo redeemed and taken into their Capital Stock, and the Refidue of the faid principal Debt or Sum of five hundred thou- fand Pounds hath been fince paid off and difcharged, by Means whereof the faid Annuity of thirty thou- fand five hundred fifty-nine Pounds fourteen Shillings is redeemed and determined, and the faid Impofi,- tions or Duties ftand now charged with the faid particular Fund of twenty-one thoufand Pounds per An- num for the Refidue of the faid Term of thirty-two Years, for the Purpofes aforefaid, and with the faid Annuity of feventeen thoufand three hundred eighty-four Pounds four Shillings, payable to the South-Sea. Company, until the Redemption thereof by Parliament, and with a proportionable Part of the additional Allowance for Charges of Management, allowed or to be allowed the faid Company, in refpect of the (aid Sum of four hundred thirty-four thoufand fix hundred and five Pounds fo redeemed and taken into their Capital^ Stock as aforefaid:' Now we your Majefty's moft dutiful and loyal Subjects, the Commons of Great Britain in Parliament aflembled, taking into our ferious Confideration the great Expences and Charges your Majefty muft neceflarily be at for the Defence of this Realm, and maintaining the important Town and Fortrefs of Gibraltar, now actually befieged by the Forces of the King at Spain; for the preferving the I rade and Navigation of this Kingdom, and maintaining and preferving a juft Balance of Power and Peace in Europe ; and being defirous to raife the neceffary Supplies which we huve chearfully granted to your Ma- jefty for thefe Purpofes, in the eafieft Manner we are able, for the Benefit of your Subjects, have freely and voluntarily given and granted, and by this Act do give and grant to your Majefty the Sum of three hun- dred and feventy thoufand Pounds, to be raifed in fuch Manner and Form as is herein after directed ; and to that End do moft humbly befeech your Majefty, that it may be enacted ; And be it enacted by the King's moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament affembied, and by the Authority of the fame, That there fh all be provided and kept in the Office of the Auditor of the Receipt of the Exchequer one Book or Regifter, in which all the Orders for Money payable upon this Act fhall be entred and regtftred ; and that it (hall and may be lawful to and for anv Perfon or Perfons, Natives or Foreigners, Bodies Politick or Corporate, tc* lend to his Majefty, at the faid Receipt, upon Credit of the faid Surplus, Excefs or Overplus Monies fo as aforefaid referved for the Difpofition of Parliament, any Sum or Sums of Money not exceeding in the whole the Sum of three hundred and feventy thoufand Pounds, which. Lenders fhall have Intereft for their For-