Page:Ruffhead and Runnington - The Statutes at Large - vol 18 (14).djvu/50

8 C. 3. Anno tricesimo nono Georgii III. A.D. 1798. [Orders assignable.]

Commissioners of the Treasury empowered to prt pane any Num>>er of Exchequer Bills of one common l Sum, or different Sums, in the principal Monies.

Bills (boll bear an Interest at 4I. 10 s. per Cent, per ann.

These Bill* shall be numbered arithmetically.

Treasury shall direct the Course of Payment for Loans or Exchequer Bills,

and appoint Cheques, &c.

XXVIII. And be it further enacted, That all and every Person and Persons, to whom any Money shall be due for Loans to be registered by virtue of this Act, after Order entered into the Book of Register aforesaid, his, her, or their Executors, Administrators, or A (Tigris, by proper Words of Alignment, to be indorsed and written on his, her, or their Order, may assign and transfer his, her, or their Right, Title, Interest, and Benefit of such Order to any other; which being notified in the Office of the Auditor of the Receipt aforesaid, and an Entry or Memorial thereof also made in the Book of Register as aforesaid for Orders, (which the Officers shall, upon Request, without Fee or Charge, accordingly make,) shall entitle such Assignee, his Executors, Administrators, Successors, and Assigns, to the Benefit tnercof, and Payment thereon; and such Assignee may, in like Manner, assign again, and so toties quoties\ 2nd afterwards it shall not be in the Power of such Person or Persons who hath or have made any speh Alignment to make void, release, or discharge the same, or any the Monies thereby due, or any Part thereof.

XXIX. And to the End there may be no Want or failure of a certain Sum, not to exceed in the Whole two Millions, to be raised either by such Loans as aforesaid, or by issuing Exchequer Bills, as is herein- after mentioned, or by both or either of tiiofe Ways or Means, for the Publick Service be it further provided and enacted, That in ca(e the Commissioners of his Majesty's Treasury, or any three or more of them now being, or the High Treasurer, or any three or more of the Commissioners of the Treasury for the Tim^ being, shall judge it more adviseable to rajfe the said Sum of two Millions, or any Part thereof, by Exchequer Bills, instead of such Loans as aforesaid; that then they respectively are hereby authorised and empowered, at any Time or Times, at once, or by such Proportions at a Time as they respectively shall find to be most for the Advantage of the Publick, to prepare and make, or cause to be prepared and made, at the Exchequer, in such Method and Form as they or he shall think most safe and convenient, any Number of new Exchequer Bills, containing one common Sum or different Sums in the principal Monies; so that in case there shall be no Loans made, then all the principal Sums to be contained in the said Bills to be made forth by this Act shall not exceed two Millions; and in case any such Loans shall be made as aforesaid, then all the principal Sums to be contained in the said Bills to be made forth by this Act, together with such Loans so made, shall not exceed the said Sum of two Millions.'

XXX. And be it further enacted, That the said Bills to be prepared and made in pursuance of this Act shall and may bear an Interest not exceeding the Rate of four Pounds and ten Shillings per Centum per Annum upon or in respect of the whole Amount of the Monies thereby raised, and proportionally for any greater or lese Sum to be contained therein^and to be payable to the Bearers thereof respectively; nevertheless the said Interest shall be abated and saved upon such of the said Bills to be made forth by this Act as shall at any Time or Times be in the Receipt of the Exchequer, or in the Hands or Power of any Receivers or Collectors of any Taxes, Aids, or Revenues whatsoever, payable to his Majesty, his Heirs and Successofs, during such Time and Times respectively as such Bills shall be or remain in the said Receipt, or in such Hands or Power as aforesaid.

XXXI. And it is hereby enacted, That all the said Bills so to be prepared and made shall be numbered arithmetically, beginning with No. L and so proceeding in an arithmetical Progression ascending, wherein the common Excess or Difference shall always be one, and shall be registered accordingly, so that the principal Sum be contained in every such Bill, (after Repayment of the Loans which shall have been made as aforesaid, if any such be, with the Interest thereof, or reserving Money sufficient for that Purpose,) may regularly be paid off and discharged, in Course, according to the Number of every such Bill as it shall (land in the said Register; and that the Interest upon all and every the said Bills shall be payable every three Months, according to the Purport and true Meaning of this Act; and that upon every such Bill there shall be indorsed, printed, or written, in Words at Length or in Figures, the Sum after which the Principal to be contained therein shall be payable in such Courlc as aforesaid, according to the Purport and true Meaning of this Act.

XXXII. Provided always, and be it enacted, That in case the said Sum, not exceeding two Million?, shall be raised partly by Loans, and partly by Exchequer Bills, according to the Powers before given by this Act, that then and in such Case, it shall and may be lawful to and for the Commissioners of his Majesty's Treasury, or any three or more of them now being, or the High Treasurer, or any three or more of the Commissioners of the Treasury fer the Time being, when and as often as they shall, by virtue of the said Powers, direct any such Loans to be taken, or any such Exchequer Bills to be made out, at the same Time. also to direct and appoint the Course and Order in which such Loans and Exchequer Bills shall stand upon the said Register, and after what Time they shall respectively begin to be payable in Course, so as no subsequent Loans or Exchequer Bills be made to alter the Course at fix ft appointed for prior Loans or Exchequer Biils at the Time of taking in or making out such prior Loans or Exchequer Bills; any Thing herein-before contained to the contrary notwithstanding.

XXXIII. And be it further enacted, That all the said Bills shall be prepared and made with such Cheques, Indents, or Counterfoils, as shall be directed by the Commissioners of the Treasury,or any three or more of them now being, or by the High Treasurer, or any three or more of the Commissioners of the Treasury for the Time being; and that the Person or Persons who is, are, or shall be appointed to pay off the said Bills in Course, shall from Time to Time have the Use and Custody of One Part of all the Cheques, Indents, or Counterfoils of the said Exchequer Bills to be prepared and made by virtue of this Act, from which the said Bills shall have been cut, to prevent his or their being imposed upon by counterfeit or forged Bills; and that the Undertakers, Contractors for exchanging or circulating the said Bills, or such of them as shall be current, shall from Time to Time have the Use and Custody of one other Part of all the said Cheques, Indents* or Counterfoils of the said Exchequer Bills from which the same shall have been cut 0ff as aforesaid,

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