Page:Ruffhead - The Statutes at Large - vol 5.djvu/686

 64-8 ' C. 8. Anno primo Georgii II. Stat. 2. A. D. 1728. ' as aforefaid, the Surplus of the faid Jmpofiticns or Duties is refefved for the Difpofition of Parliament : ' And whereas the Governor and Company of the Bank of England have contented and agreed to advance '• and pay into the Receipt of your Majefty's Exchequer the Sum of one million feven hundred and fifty s. thoufand Pounds, at the Times and in Manner herein after mentioned, for the Purchafe of an Annuity of ' feventy thoufand Pounds to be payable to them and their SucceiTors for ever, fubject to Redemption by '■ Parliament, to be charged on the faid Duties and Impofitions, fo as the fame Duties and Impofitions be ' freed and difcharged from all the former Charges or Incumbrances thereon :' Nov/ we your Majefty's rnoft dutiful and loyal Subjects, the Commons of Great Britain in Parliament afiembled, being willing and de- firous not only to dilcharge all the faid Charges and Incumbrances, but alfo to raife the necefiary Supplies which we have chearfuily granted to your Majefty, by Means the moft eafy to your People, have freely and voluntarily given and granted, and by this Act do give and grant to your Majefty the Sum of one million feven hundred and fifty 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 After St. John King's moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and Temporal Baptift's bay and Commons, in this prefent Parliament affembled, and by the Authority of the fame, That yearly and 1718, an Annul- eve] -y Year, from and after the Feaft-Day of the Nativity of Saint John Baptijl in the Year of our Lord It IpcrCent to one thoufand feven hundred and twenty-eight, a certain yearly Sum or Fund of feventy thoufand Pounds, be raifed, re- being after the Rate of four Pounds per Centum per A?inum, for or upon the Sum of one million feven hun- rieemaHeriy dred and fifty thoufand Pounds to be raifed by this Act, be fettled and eftablifhed and be payable in the Parliament. Manner and Form herein after expreffed and declared, for fatisfying the Annuities to be purchafed in Pur- fuance of this Act from Time to Time, until Redemption thereof by Parliament, according to the Pro- vifo or Provifoes herein after for that Purpofe contained. and chargeable II. And it is hereby enacted by the Authority aforefaid, That the faid yearly Fund, or Sum of feventy on the Duty on thoufand Pounds, is and fhall by virtue of this Act be charged and chargeable upon, and payable out of the Monies, which from and after the faid Feaft-day of the Nativity of Saint John Baptift one thoufand feven hundred and twenty-eight (hall from Time to Time arife into the Exchequer, of or for the faid Im- pofitions or Duties on Coals and Culm fo granted as aforefaid. .Bank to advance III. And be it enacted by the Authority aforefaid, That the Governor and Company of England fhall, the-i,750,oco 1. and they are hereby required and enjoined to advance and pay into the Receipt of his Majefty's Exchequer, the full and intire Sum of one million feven hundred and fifty thoufand Pounds of lawful Money of Great Britain, in Manner following ; that is to fay, one Moiety thereof on or before the fourth Day of June which fhail be in the Year of our Lord one thoufand feven hundred and twenty-eight, and the other Moiety there- of on or before the twenty-fourth Day of July which {hall be in the faid Year of our Lord one thoufand feven hundred and twenty-eight. J5mk making IV. And that in cafe the faid Governor and Company of the Bank of England fhall make Failure in Pay- fiilurein i J ay- rnent of the faid Sum of one million feven hundred and fifty thoufand Pounds, or any Part thereof, contrary r.ic.-nt, may e tQ ^ & Tenor of the Directions hereby given or enacted for Payment thereof, then the Money whereof fuch Failure in Payment fhall be made, fhall and may be recovered in his Majefty's Name, for the Ufes and Purpofes of this Act, by Action of Debt or upon the C fe, Bill, Suit or Information, in any of his Ma- jefty's Courts of Record at Wcjhninjler, wherein no EfToin, Protection, Wager of Law, or more than one Imparlance fhall be granted or allowed ; in which Action, Bill, Suit or Information, it fhall be lawful to declare, that the faid Governor and Company of the Bank of England are indebted to his Majefty the Mo- nies whereof they fhall have made Default in Payment, according to the Form of this Statute, and have not paid the fame, which fhall be fufficient ; and in or upon fuch Action, Suit, Bill or Information, there fhall be further recovered to his Majefty's Ufe againft the faid Governor and Company of the Bank of England, Damages after the Rate of eight Pounds per Centum for the Money fo unpaid contrary to this Act, befides full Cofts of Suit, and the faid Governor and Company of the Hank of England, and their Capital Stocks and Funds, fhall be and are hereby made fubject and liable thereto. On Payment V. And be it enacted by the Authority aforefaid, That on Payment by the faid Governor and Company "Sink intitled of the Bank of England, of the faid Sum of one million feven hundred and fifty thoufand Pounds, at the to an Annuity Times and in Manner aforefaid, the faid Governor and Company, and their Succeffors and Affigns, fhall or 7o,oco . j. )e intitled to have, receive and enjoy, at the Receipt of his Majefty's Exchequer aforefaid, by and out of the faid yearly Fund eftablifhed as aforefaid, one Annuity or yearly Sum of feventy thoufand Pounds of lawful Money of Great Britain, to commence from the twenty-fourth Day of "June which fhall be in the Year of our Lord one thoufand ("even hundred and twenty-eight, and to be paid and payable to them, their Succeffors and Afligns, by even half-yearly Payments, at the Feaft of the Nativity of our Lord Chrift, and the Feaft of the Nativity of Saint John BaptiJl in every Year, by even and equal Portions for ever, until Redemption thereof by Parliament, according to the Provifo or Provifoes herein after for that Purpofe con- tained, and that the faid Annuity or yearly Sum of feventy thoufand Pounds, and every Part thereof, fhall be free from all A'lanner of Taxes, Impofitions or Charges whatfoever. Treafury to fign VI. And for the better and more regular Payment of the faid Annuity of feventy thoufand Pounds to the -.Ord^n tor Pay- f a jj Q ovcn ,or and Company of the Bank of England, their Succeffors and Afligns for ever, fubject to Redemption as aforefaid, an Order or Ordera fhall be figned by the Commiffioners of the Treafury now or for the Time being, or any three or more of them, or the Lord High Treafurer for the Time being, for the Payment thereof; and after the figning thereof, the fame fhall be good, valid and effectual in the Law, ac- cording to t'ne Purport and true Meaning thereof, and of this Act, and fhall not be determinable by or upon the Deaths or Removal of any of the faid CommifTioneri of the Treafury, or the Lord High Treafur-r, or by ©rupon the Determination of the Power, Office or Offices .of them, or any of them, nor fhall any C'lmmif- fionew roent thereof-
 * alfo to the faid Exchequer-Bills, amounting to three hundred thirty-eight thoufand eight hundred Pounds