Page:Ruffhead - The Statutes at Large - vol 7.djvu/439

 A. D. 1752. Anno vicefimo quinto Georgii II. C. 25. 419 CAP. XXV. An Aft for granting to his Majcfty a certain Sum of Money therein mentioned, out of the Sinkinf Fund -, and for enabling his Majcfty to raife a further Sum of Money therein alfo mentioned, by Exchequer Bills, to be charged on the faid Sinking Fund, for the Service of the Year one thoufand feven hundred and fifty-two ; and for the further appropriating the Supplies granted in this Seffion of Parliament, MO S T Gracious Sovereign ; We your Majefty's moft dutiful and loyal Subjeds, the Commons of Great Britain in Parliament afiembled, being clefirous to raife trie neceifary Supplies which we have chearfully orantcd to your Maiefty in this Seffion of Parliament, for the Service of the Year one thoufand feven hunch'ed and fifty-two, in the eafiefl: Manner we are able, for the Benefit of your Majefty's Subjects, and alfo to ufe fuch V/ays and Means therein as that your Majelty may have the better and more fpeedy Effeft of the faid Supplies, have refolved to give and grant unto your Majefty the Sum of five hundred thoufand Pounds out of the Surplufles, Excefles and Overplus Monies, commonly called the Sinking Fund;. and to that End and Purpofe do mofl humbly befeech your Majefty, that it may be enafted ; and be it enafted 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 afiembled, and by the Authority of the fame, That*by or out of fuch Monies iis now are or fliall from Time to Time be and remain in the Receipt of 500,000!. the Exchequer, of the faid Surplufles, Excefles or Overplus Monies, commonly called the Sinking Fu?id,t-r<'"^^'i out ot (after paying o'r referving fufficient to pay all fuch Annuities, or annual Sum and Sums of Money as have^^^'^^^'^^^^'^?^^ been directed by any former A£t or Ads of Parliament, to be paid out of thefame) there fliall and may bejhe"sup°pw"foV iflbed and applied, a Sum not exceeding the faid Sum of five hundred thoufand Pounds, for and towards the current the Supply granted to his Majefty for the Service of the faid Year one thoufand feven hundred and fifty- Year, two ; and theCommiffioners of his Majefty's Treafury, or any three or more of them now being, or the High Treafurer, or any three or more of the Commiflioners of the Treafury for the Time being, are hereby authorized and impowered to iflue and apply the fame accordingly. ■ ' II. And whereas your Majefty's faid dutiful and loyal Subjeits, the Commons of Great Britain in Par- ' liament aflTembled, have alfo refolved to give and grant unto your Majefty the further Sum of one million ' four hundred thoufand Pounds, towards the Supply granted to your Majefty for the Service of the faid 1.400.000 i. ao- ' Year one thoufand feven hundred and fifty-two, to be raifed in Manner hereafter mentioned : And whereas ^■^■"j^'i ^ythe ' the Governor and Company of the Bank of England have propofed to advance and pay into the Receipt oi ^^^'^°^^{^l„l ' ' your Majefty's Exchequer the Sum of one million, for Payment of Part of the Debt of the Navy, and other Serviceso ' other publick Services ; and alfo the Sum of four hundred thoufand Pounds charged on the additional ' Duties on Stamps herein after mentioned, now carrying an Intereft at three Pounds ten Shillings per ' Centum per Annum, which purfuant to Notice given the laft Seffioij of Parliament are to be redeemed and ' paid off- upon Condition that Exchequer Bills be ifTued to them on or before the Times at which the faid ' Sums of one million and four hundred thoufand Pounds refpe<5lively fhall be wanted to be advanced, car- j-ying- an Intereft at three Vounds per Centum per Annum, to be charged on the Sinking Fund ; and that the ' faid principal Sums of one million and four hundred thoufand Pounds, fhall be repaid to them out of the ' firftExcelles or Surplufles of the faid Sinking Fund that fhall be applied to the Payment of the Principal ' of the National Debt, next after the Remainder of the Sum of one million one hundred and ninety thou- ' fand one hundred and eleven Pounds fixteen Shillings and one Penny, which has been advanced by the ' paid off;' Now we your Majefty's laid dutiful and loyal Commons in Parliament aflem.bled, being of Opinion that it v/ill be of Advantage to the Publick to accept of the faid Propofal, and being alfo defirous to lefli^n ihe National Debt as faft as conveniently m.ay be confiftent v/ith Juftice and publick Faith, do alfo moft humbly befeech your Majefty, that it may be cnaded ; and be it enaiSted by the Authority aforefaid, That it fliall and may be lawlul to and for the Commiffioners cf the Treafury, or any three or more of t^em now beino- or the High Tnafurer, or any three or more of the Commiffioners of the Treafury for theTimc beino-'''on his Majefty's Behalf, to contrait and agree with the faid Governor and Company of the Bank of EV^/and to advance and pay into the f.dd Receipt of Exchequer any Sum or Sums of Money, not exceeding in the Whole the faid Sum of one m.illion four hundred thoufand Pounds for Exchequer Bills, to be made forth at the faid Receipt in the Manner herein after mentioned, in fuch Proportions, and at fuch refpeftive Times, as the faid Commiffioners of the Treafury, or any three or more of them now being, or the faid High Treafurer, or any three or more of the Commiffioners of the Treafury for the Time being, fhall judge to be moft for the Advantage of the Publick, for the Purpofes aforefaid. Ill And be it further enacted by the Authority aforefaid, That the faid Governor and Company of the The Bank ah Bank of England, and their Succeffors, fliall have and receive an Iiitereft or Premium after the Rate of"^°";'/ -' '• K^ thr^e Pounds per Centum per Annum, for the faid principal Sum of one million tour hundred thoaland " • Pounds to be advanced by them imo the faid Receipt of Exchequer, from the refpeflive Times of ad- vancing' and paying the fame, or any Part thereof into the faid Receipt, which faid Intereft or Pramium Ihall be p-.id fronA'ime to Time to the faid Governor and Company, and their Succeflors, by quarterly Payments out of the Monies arifing at the faid Receipt of Exchequer, of or for the Surplufles, Excefles or Overplus Monies, commonly called the Sinking Fund, until fuch Times as the faid Exchequer Bills, or ^ H h h 2 any
 * faid Governor and Company, purfuant to an A£t of the laft Seffion of Parliament, fhall be difcbarged and