Page:Ruffhead - The Statutes at Large - vol 7.djvu/331

 A. D. 1751. Anno vicefimo quarto Georgii 11. -C. 4* 311 ' fand three hundred twenty-one Pounds one Shilling and nine Pence, the Amount of the unfubfcribed ' Annuities of the Year one thoufand feven hundred and forty-eight, transferrable ss aforefaid, on the ' twenty-fifrh Day oi March one thoufand feven hundred and fifty-one ;. and alfo the principal Sum of ' one hundred and three thoufand nine hundred fe'enty-five Pounds twelve Sh-illirgs and two Pence,- the ' Amount of the unfubfcribed Annuities of the Year one thoufand feven hundred and forty-nine, trans- ' fcrrable as aforefaid, on the twenty-ninth Day of September one -thoufand feven hundred and hfty-one •; ' And whereas the Governor and Company of the Bank oi En gland hs-ve propofed to advance and pay .into' ' the Receipt of hi-s Majefty's Exchequer the Sum of one million twenty-fix thoufand four hundred feven-^ ' ty-fix Pounds four. Shillings and fix Pence, at the llated Times and in the Proportions before-mentioned^. ' Excelles or Overplus Monies, commonly called the Slnkirig Fund, at an Intercft not exceeding, the Rate.' ' of three Pounds per Ctntum per Annum, to be paid out of the faid Sinking Fund, and to commence from. ' the llat::d Times on which the feveral Sums are propofed to be advanced, and that the principal Sums- ' contained in fuch Exchequer Bills fliall be repaid to them out of the firft ExcelTes or Surplufies of the ' faid Sin.'-j-dg Fund that ftvall be applied to the Payment of the Principal of the National Debt : And'- ' whereas, fmce the making of the faid Propofa), the Sum of thirteen thoufand three hundred twenty- ' eight Pounds, in Bank Annuities, is by this Att direfted and aliov/ed to be fubfcribed by the Proprietors ' thereof, fo that the principal Sum to be advanced by the faid Governor and Company,, to pay oft" the ' remaining unfubfcribed Annuities before-mentioned, will amount to the Sum of one million thirteen^ ' thoufand one hundred forty-eight Pounds four Shillings and fix Pence only :' Now we, your A/Tajefty's- moft dutiful and loyjl Subjedls,. the Commons oi Great Britain in Parliament aflTembled, being of Opinion; that it will be of Advantage to the Publick to accept of the faid Pn^pofal, and being, alfo defirous to Icflen the Interefl of the National Debt, as far as m.ay be confiftent with Juftice and publick Faith, do moft humbly befeech your Majefty that it may be enafted ; and be it enafted by the King's moR Excellent Ma- jefly, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this ly tnree or more oi the Commuiioners oi the 1 realury tor the i mie being, on nis iViaje fty's Behalf, to contract and agree with the faiJ G-overnor and Compan)' of the Bank of England to ad- . . vance and pay into, the faid Receipt of Exchequer, any Sum or Sums of Money, not exceeding in the " "|, whole the faid reduced Sum of one million thirteen thoufand one hundred forty-eight Pounds four Shillings j's_ %i_ ^'^ and fix Pence, for Exchequer Bills to be made forth at the faid Receipt, in manner hereafter mentioned, ExclitquciBUIsi- in fuch Proportions and at fuch flated Times, as are herein before diretfed, towards paying off and re- deeming the faid feveral unfubfcribed Annuities, amounting to the faid Sum of one million thirteen thou- land one hundred forty-eight Pounds four Shillings and fix Pence, according, to the feveral Notices given^ by the Speaker of jhe Houfe of C- mmons in ihat Behalf as aforefaid. II. And be it further enadbed by the Authority aforefaid^ That the faid Governor and Company o*' the at 3I. perCeati- Bank of £H^/rt;;.'/, and their SuccelTors, fhall have, receive and enjoy, and lliall be intitled by virtu3x>r' this Adt,. to have, receive and enjoy an Intereft or Premium, after the Rate of three Pounds per Centum per Annum, for the faid principal Sum of one million thirteen thoufand one hundred forty-eight Pounds. four Shillings and fix Pence, to be advanced by them into the faid Receipt of Exchequer, in the manner following ; that is to fay, on the Sum of four hundred fifcy-two thoufand two hundred forty-three Pounds one Shilling and nine Pence, from the twenty-fifth Day of March one thoufand {e-v^tn hundred and fifty-- one ; on the Sum of two hundred forty-fix thoufand two hundred ninety-four Pounds fifteen Shillings and' feven Pence, from the twenty-fourth Day of 'June one thoufand feven hundred and fifty-one ; and on the' Sum of three hundred fourteen thoufmd fix hundred ten Pounds feven Shillings and two Pence, from the twenty-ninth Day oi September one thouGmd feven hundred and fifty-one ; which faid Interefi: or Premium fhall. from Time to Time be paid to the faid Governor and Company, and their Succefiors, by quarterly payable (ftiarteri- Payments out of the Monies ariung at the faid Receipt of Exchequer, of or for the faid Surplufies, ExceiTesb; ""^ "f 'he or Overplus-monies, commonly called the Sinking Fund, until i'uch Times as the faid Exchequer Bills fo^'"'^'"S F"'"!}, to be ifiued, or any Part thereof, fhall be difcharg.ed and cancelled, in the Manner and Form by this Aft. hereafter provided. III. And be it further enadled by the Authority aforefaid. That the faid Commiffioners of the Treafury,and fo p'-epare or any three or more of them now being, or the High Treafurer, or any three or more of the Commif-g^|r^'"^'"^1"™ fioiiers of the Treafury for the Time being, are hereby authorized and impowered to prepare and make, ' or caufe to be prepared and made, at the Exchequer at once, or at the flated Times, and in the Propor- tions herein before diredled, in fuch Method and Form as they or he (hall think moft fafe and convenient,, any Number of new Exchequer Bills, containing one common Sum or different Sums in the principal Mo- nies, fo as fuch Bills do not exceed in the whole,, the faid principal Sum of one million thirteen thoufand' ene hundred forty-eight Pounds four Shillings and fix Pence. IV. And be it further enadfed by the Authority aforefaid,. That the faid Bills to be made and prepared '° '"^" ^"''^'■^'*, in purfuance of this Act, fhall and may bear an Intereft not exceeding the faid Rate or Premium of three'"' ^ p.erCeM,- Pounds per Centum per Annum, and proportionably for any greater or lefs Sum to be contained therein,. and to be payable to the Bearers thereof refpedtively ; neverthelefs the faid Intereft fhall be abated and faved upon fuch of the faid Bills to be made, forth by this Adt, as fhall at any Time or Times be in the Reccipt- ot the Exchequer,, or in the Hands or Power of any Receivers or Collectors of any Taxes, Aids or Re-- venues'. .
 * upon Condition that Exchequer Bills be iflued to them on or before the I imes the faid feveral Sums are
 * propofed to be advanced; which Bills are to be made forth at the faid Receipt, and charged on theSurpluir.s,-