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pounds three shillings and four pence three farthings, in part of the part of "said principal sum of one million two hundred and four thou- s,^°\\^t'f^l sand seven hundred eighty six pounds three shillings and four things, to the pence three farthings, to the said cashier of the governor and bankofEngcompany of the bank of England, now or for the time being, land, &c, by way of imprest and upon account, to be by him applied and paid over, with such other "monies to be raised as is hereafter mentioned, for discharging the said principal sum of one million two hundred and four thousand seven hundred eighty six pounds three shillings and four pence three farthings, and for redeeming the said annuities payable after the said rate of five pounds per centum per annum, amounting in the whole to sixty thousand two hundred thirty nine pounds fix shillings and two pence per annum as aforesaid; and that the said 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 time being, do cause the said sum of two hundred and four thousand seven hundred eighty six pounds three shillings and four pence three farthings, to be issued and paid to the said cashier accordingly, without any further or other warrant or authority to be sued for, had or obtained in that behalf \ any former law or statute whatsoever to the contrary notwithstanding.

IV. And to the end and intent that sufficient monies may be raised to make up the said principal sum of one million two hundred and four thousand seven hundred eighty six pounds three shillings and four pence three farthings, and to complete the redemption of the said annuities amounting to sixty thousand two hundred thirty nine pounds six shillings and two pence ptr annum, be it further enacted by the authority aforesaid, That it shall and may be lawful to and for the commissioners of his A/sajesty's treasury, or any three or more of them now being, or the high treasurer, or any three or more of the commis- Treasury to sioners of the treasury for the time being, and they respectively issue out exare hereby authorized and impowered to prepare and make, or chequer-bills cause to be prepared or made at the exchequer, in such method ^oo^oool1"^ and form as they or he (hall think most safe and convenient,'' any number of new, exchequer-bills containing one common sum or different sums in the principal monies, so as all the principal sums to be contained in such bills to be made forth by this act, do amount to one million of pounds Jlerling^ and no more.

Which bills are to bear an interest of % d. per cent, per diem, Sec, and be numbred arithmetically, Sec. bills prepared by virtue of this act to be placed as cash in teller's office, Sec. Bills amounting to one million in. principal to be issued out or the exchequer to the bank. &c. towards discharging the principal of".1,204,786 h 3 s. 4 d. 3 fourths, Sec. Uncancelled bills, &c. to pass as current money in payment to and from collectors, Sec, Receiver, Sec. refusing to exchange such bills for current money, &c. liable to action, &c. Tallies to be delivered for payment or loan ot".bills, kc. Interest upon such bills, Sec. Bills re-issuable out of the exchequer, £cc, Receivers general, $;c, to keep books of account of monies received, &c, New bills to be made forth in lieu of bills filled up or defaced, &c. Treasury may cause bills not exceeding 5000 L to be made forth, and placed as cam in the exchequer, &c. Forging or counterfeiting exchequer bills, &c. Felony. EXF.

"Geo 1 c XX. And whereas the several surplusses, excesses and overplus

* *7' moniesi commonly called the said sinking fund (which in and by the

said acl made in the third year of his Majesty's reign were appropriated to and for discharging the principal and inters/} of such national debts and incumbrances, as zuere incurred before the twenty fifth day of December one thousand seven hundred and sixteen, and were declared to be national debts > and were provided for by acl of parliament, in such manner and form as should be directed or appointed by any future acl or atls of parliaments to be discharged therewith or cut cfthe same) have usually been computed at or about the feast of Saint Michael the archangel in every year> and the last computation cf the clear produce thereof now lying before the honourable house of commons did terminate at or about the feast of Saint Michael the archangel one thousand seven hundred and twenty tivo: now to the end, intent and purpose that all the exchequer bills to be made forth by virtue of this act, not exceeding as aforesaid, may be paid off and discharged in such course and order as are hereafter in and by this act appointed in that behalf 5 and to the end the fame bills, or so many of them as shall from time to time remain undischarged, may the better obtain a currency for such time as they or any of them are hereby intended to be current, be it further enacted by the authority aforesaid, That the commissioners of the treasury, or any three or more of them now being, and the high treasurer, or any three or more of the commissioners of the treasury for the time being, shall from henceforth cause the clear produce of the said several surplusses, excesses and overplus monies, commonly called the finking fund, Produce of to ^e computed and stated half-yearly (to wit) at the feast of totelated the annunciation of the blessed Virgin Mary, and the feast of half-yearly, Saint Michael the archangel in every year, until all the exche&c. quer bills to be made forth by virtue of this act shall be fully

paid off and discharged, or money sufficient shall be reserved for completely paying off and discharging the same: the first of which accounts so to be stated of the said surplusses, excesses and overplus monies shall terminate at the feast of the annunciation of the blessed Virgin Mary which shall be in the year of our Lord one thousand seven hundred and twenty three, and the subsequent accounts thereof mall be made up and adjusted at every of the said half-yearly feast-days, or as soon after as the accounts of the publick revenues, whereupon such stated accounts are to be formed, can be collected for that purpose. XXI. And it is hereby enacted by the authority aforesaid, How applied. That all the monies of the said surplusses, excesses and overplus monies, called the sinking fund, which were produced at or before the said feast of Saint Michael the archangel one thousand seven hundred and twenty two, which shall remain over and aboye the said sum of two hundred and four thousand seven hundred dred eighty six poands three (hillings and four pence three farthings, to be issued out of the fame as aforesaid, (if any such be) and all the monies from time to time arising of or for the said furplusses, excesses and overplus monies, called the sinking fund, which hereafter (hall or ought to appear upon the making up and adjusting every half-yearly account or state of the produce of the fame as aforesaid, (except such monies of the said sinking fund, as are appropriated to any particular use or uses by any other or former act or acts of parliament in that behalf, and shall be payable or demandable before the end os every such half-year respectively) shall, from time to time, as the fame shall arise at the said receipt of exchequer, be issued to such paymaster as is herein after mentioned, by way of imprest and upon account, for and towards the paying off and discharging the said exchequer-bills, which mall have been made forth by virtue of this act, in their due course and order as they shall be numbered and stand in the said register, and for or towards the charge of exchanging and circulating the said bills or any of them, and for or towards such other payments as are in and by this act directed or allowed to be made or discharged out of the same, and for no other use, intent or purpose whatsoever, until all the said bills (hall be paid off, discharged and cancelled, and the said other payments shall be satisfied^ or money sufficient shall be reserved for those purposes.

Treasury to appoint persons to discharge principal, arising in course of payment, upon exchequer-bills, Sec. Surpluses, &c. applied to the discharge of exchequer-bills, &c. Bills to be registred in course, Sec. No undue preference in payment. Treasury to appoint salaries, Sec. Treasury may contract with persons for circulating and exchanging bills for money, &c. Contracts to be registred, &c. Contractors not liable to bankruptcy, Sec. for that cause only. No fee, &c. to be taken in the exchequer for any thing there done in pursuance os this act, Sec. Interest: upon bills not to be paid to any sum less than a penny, Sec. Treasury may pay out of finking fund, the charges of making forth new bills, Sec, Monies due upon bills lost, burnt or destroyed, to be satisfied upon oath, Sec. Bills paid off to be cancelled, &c. EX P.

XXXIV. Provided always, and it is hereby likewise enacted Monies arising by the authority aforesaid, that all the monies arisen or to arise from linking into the exchequer of or for the said furplusses, excesses an^ *l"^^^ap~ overplus monies, commonly called the finking fund (except £c pua' such monies thereof as are by this or any act or acts of this or any former session or sessions of parliament, specially charged upon the said finking fund, or to be paid out of the same, or out of any revenues or branches composing the said linking fund) shall be appropriated, reserved and employed, to and for discharging the principal and interest of such national debts and incumbrances as were incurred before the twenty fifth day of December one thousand seven hundred and sixteen, and are declared to be such national debts as may be redeemed, and are provided for by act of parliament, in such manner and form as ihall be directed and appointed by any future act or acts of parliament

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liament to be discharged therewith, or out of the same, and to none other use, intent or purpose whatsoever; any thing in this act contained to the contrary notwithstanding. 1 Geo. 1. stat. • ^XXV. And whereas by an aft of parliament of the first year of 2. c.24.' 'his Majesty s reign, intituled, An act ^for appointing commissioners to take, examine and state the debts due to the army, several persons therein named, were constituted commissioners for taking and fiating the accounts, claims and demands therein mentioned, which aft ivas to endure from the tenth day 0/* September one thousand seven hundred and fifteen, to the tenth day of September one thousand seven hundred and sixteen ; and by another aft of the first 1 Geo. 1. stat. year of his Majesty s reign, intituled, An act to. appoint a commif35, sioner for taking, examining and stating the debts due to the army, in the room ot'Thomas Smith, esq "deceased ; and for continuing the former act until the tenth day of March one thousand seven hundred and sixteen, several persons therein named, were constituted commissioners, ivith power to proceed in the examining and stating the accounts, and to do other things therein mentioned, from the ninth day of September one thousand seven hundred and sixteen, to the tenth day of March then next following: and by an aft of the third year of his Majesty s reign, intituled, An act to enable his Majesty to appoint commissioners to take, examine, 'slate and determine the debts due to the army, it was enacted, That it should and might be lawful for his Majesty to grant to any persons {whom his Ada j esty should think fit, not exceeding the number of seven) his commission under the great seal of Great Britain, with full power, at any time before the tenth day of March one thousand seven hundred and seventeen, to take, examine and state the debts then remaining due to the nrmy \ and that it should and might be lawful to and for the commissioners so to be constituted, or any four or more of them, to proceed "to determine such accounts, claims and demands, as had been taken and staled by the commissioners appointed by the said f ormer afts, or any four or more of them, and also to take, state and determine such of the said accounts, claims and demands, as were not so taken and slated, and after such determinations respectively, to cerfify the fame to the paymaster of his Majesty's forces for the time being, or to the then late paymaster or paymasters for such respective times as they were employed or concerned in the payment of her late Majesty's forces, and in which the said debts, claims or 'demands became due and were contra ft ed, and ivhat stoould remain due upon such respective accounts, claims or demands, and to whom the fame was respectively due, in order to the said paymasters making out debentures to the officers, engineers, gunners, and other persons, to whom the?nonies so certified to be due should respectively belong, ivhich said debentures the said paymaster or paymasters respectively, were thereby directed and required to make out accordingly : and that the commissioners of the treasury, or any three or more of them, or the high treasurer for the time being, should order and appoint such a form and method of making out the said debentures, as might best tend to prevent the counterfeiting of the fame: and zuhereas on the eighth day of February one 'thousand seven hundred andseventeen, James then lord viscount Stan*

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hope, (afterwards earl Stanhope,J .Thomas lord Torrington, John Wallop, esquire, {now lord Lim'mgton) and George Baillie, esquire, then coinmisfioners of bis Majesty s treasury, did by an instru.ment in writing under their hands, pursuant to the pozuer to them given by the said ac~t os the third year os his Majesty s reign, approve a form and method of making out debentures in the manner thereby described, and did order and appoint the said method and form accordingly: and ivhereas by several acts of parliament, made and passed 3 Geo. i.e. 17. since the said afl os the third year of his Majejlys reign, several per- 4 Geo. 1. c. 9. Jons therein respectively fiamed have been constituted commissioners to j'^*'4* examine, fate and determine the debts due to the army, ivho were by Geo] ** the fame acts respect iv^ impowered to a51 in performance of the trujls j. c. 30.% in them respectively reposed, without obtaining any neiv commission under the J aid great seal in that behalf: and wherea: by one os the said subsequent acts ivhich ivas made and passed in the fifth year of $ Geo. 1, c.14. his Majejlfs reign, it was enacted, that all certificates made out by virtue of that atl, should be directed to the right honourable (James earl of Carnarvon [now duke of Chandos) or his deputy, or fuel? person or persons as the commissioners of the treasury, or any three or more of them, or the lord high treasurer for the time being, should think fit to nominate and appoint; and the said earl ^Carnarvon, or his deputy, or the said person or persons jo to be nominated, were thereby directed and authorized to issue the debentures accordingly, as well for such sum or sutns of money, as JJwuld appear to have arisen or become due to the respective cla'nnants for any time, during which he zvas paymaster, as for any time or times bef ore or since: and whereas by an instrument in writing, bearing date the fourth day of June one thousand seven hundred and nineteen, under the hands and seals of John Aislabie, esquire, John Wallop, esquire, {now lord Limington) George Baillie, esquire, and William Clayton, esquire, then commissioners of his Ma1'eftss treasury, Thomas More, esquire, (who had acted and then continued to act as deputy to the said James duke 0/Chandos /;/ all cases where debentures had heretofore been, or -were by the said act of the fifth year of his Majesty's reign, authorized to be made out by the said duke, as late paymaster general of the army, or his deputy) zvas conjlituted and appointed to make out debentures on ad and every the certificates whatsoever, that zverer should or might be issued by the commissioners appointed as aforefaidr upon or by virtue of the'said act of "the fifth year of his Majesty s reign : and whereas by an act made'and passed in the seventh year of 7 Geo. t. stat, his Majesty s reign (being one of the acts for appointing commissioners 1% c* 3°to examine,state and determine the debts due to the army) it was enacted, That all debentures made out, or to he nude out by any paymajler or paymasters, or .his or their deputy or deputies, in pursuance of any certificate authorized to be made cut by the commissioners by virtue of that or any other act or acts of parliament, for stating and determining the debts due to the army* should carry an annuity after the rate of four pounds per centum per annum, to commence from the twenty fourth day of June one thousand seven hundred and seventeen, and that the same annuities should be payable out of the monies arising or to arise prom the customs and other duties and taymenis, commonly called

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