tioned, at the times on which the fame ought to be paid as aforefaid; and that the above bargained premises, upon the fale thereof, pursuant to the directions of the faid act, will yield the principal and intereft aforefaid, remaining unpaid at the time of fuch fale, and until the third Tuesday of June next after the day of fale, together with fifteen fhillings for the charges of fuch fale: In witnefs whereof, the parties to thefe prefents have interchangeably fet their hands and feals, the day and year first above-written.

Sealed and delivered in the prefence of

XXXVIII. And be it further enacled by the authority afore 8059 copies of mort fid, That the faid Samuel Loudon fhall print eight thouf gages to be printed. and copies of the faid mortgages, and bind fo many of them in a book together, with fix leaves of clean paper for an alphabet, for the use of the loan-office of each county, that there may be a mortgage for every twenty pounds of bills of credit given to the loan-office of that county, and the number remaining he fhall give in loofe fheets, in the like proportion to each of the loan-officers, in order therewith (if there should be occafion) to give attefted copies of the original mortgages to the purchafers of any of the mortgaged lands; which books, together with the faid loofe sheets, are to be delivered by the printer, to the treasurer of this ftate, by him, with the bills, to be delivered to the loan-officers of each county.

XXXIX. And be it further enacted by the authority aforesaid, That no mortgage fhall be taken in the loan-offices but by filling up one of the blanks of the faid book of mortgages; none of them shall be defaced or torn out, except the feals when the mortgagor pays off the whole principal and intereft of the mortgage: And the loan-officers fhall proceed in the taking the mortgages from the beginning of the book forward, numbering the mortgages as they are taken, and inferting the mortgagor's name and number in the alphabet, under the letter anfwering the mortgagor's firname.

XL. And be it further enadded by the authority aforefaid, That the printer fhall alfo caufe to be bound up, twelve books of paper; one for the use of each loan-office, and to be about two thirds of the fize of the book of mortgages for the fame county, to be delivered as aforefaid, with the book of mortgages.

XLI. And be it further enacted by the authority aforefaid, That the loanoficers fhall, in one end of the last mentioned book, minute the fubftance of each mortgage, to wit: The number thereof, the date, the mortgagor's name, the fum lent, and the boundaries of the lands mortgaged: And when the one loan-officer has the cuftody of the book of mortgages, the other fhall have the cuftody of the other book; that fire or other accidents, which might happen, may be guarded against. And the printer fhall make an alphabet to it, like to that of the book of mortgages; and for the fatisfaction of the mortgagor, he may examine or fee the minute examined with the original mortgage, and with the witnefles, fhall fign the fame.

102.-officers.

XLII. And be it further enacted by the authority aforefaid, Directions to the That the loan-officers, beginning at the other end of the faid book, fhall infert the minutes of their proceedings therein, to wit:

Firit. The day they meet, place, houfe, and loan-officers prefent. Second. If any one is abfent, they fhall, at their next meeting, minute the caue of his abfence.

Third. Shall enter the hour that every one applies for the loan of money, and the fum he applies for.

Fourth. Shall enter down the reafon why a prior applicant had not the money, according to his application, and the fubftance of examinations for clearing titles and value.

Fifth. Shall enter down the monies received from the treasurer, and the monies delivered to, or received from the loan-officers of another county, and the day when, with a copy of the notice thereof, to be delivered to the treasurer, and when that notice was delivered to the treasurer, and by whom.

Sixth. The last day of their four days of meeting for receiving of monies yearly, they fhall enter whofe mortgages are forclofed, and the numbers and fums of them.

Seventh. Shall enter the orders for, and copies of the advertisements for fale, and places at which they are to be fet up, and the perfons names that are to fet them up.

Eighth. Shall enter the names of the purchafers of lands, and prices fold for, and payment of the overplus to whom it belongs, with the time and witnefles of fuch payment.

Ninth. In cafe any principals, or part thereof, are paid in before the times of payment in the mortgages, the whole amount of fuch principals fo paid in, fhall be entered in the faid book.

Tenth. Shall enter the caufe of all fuits, and the informations they have received, and of whom, at length, or if too long, refer to them in papers apart, minuting the fubftance.

Eleventh. Shall enter their meetings with the judges and fupervifors, and perfons prefent, together with the minutes of all proceedings of fuch judges and fupervifors, particularly what were the deficiencies laid before them, what measures were taken for afeffing and levying fuch deficiencies, and which of the faid judges and fupervifors were for affeffing, or for neglecting or delaying it.

XLIII. And be it further enaled by the authority aforefaid, That the printer fhall also cause to be bound, other twelve books of paper, one of them for the ufe of each loan-office, about two thirds of the fize of the book of mortgages for the fame county, to be delivered as aforefaid, with the book of mortgages; and that therein fhall be entered all the accounts of the loan-office; that at the beginning there fhall be an alphabet, wherein fhall be inferted every man's name, and the page wherein his account flands; and that this book be kept in the fairest and beft method that the loan-officers can, and it is to remain in the custody of him who has the minutes of the mortgages and proceedings.

XLIV. And be it further enabled by the authority aforefaid, That the deeds to be granted by the loan-officers for any lands to be fold by them, whereof the equity of redemption is foreclofed, fhall be in form following,

to wit:

Form of the deeds to be granted by luanofficers.

hundred and

HIS INDENTURE, made the

THIS

of the one part, and

loan-officers of the

of

Tuesday of in the year of our Lord one thoufand feven between the loan-officers of the

of

of the other part; Witneffeth, That the faid of for and in confideration of the fum

to them in hand paid, whereof they acknowledge the receipt, and difcharge the faid heirs, executors and adminiftrators, thereof forever, have, pursuant to a law of the flate of New-York,

entitled, An act for emitting the fum of two hundred thousand pounds in bills of credit, for the purpoles therein mentioned, granted, bargained, fold, releafed, enfeoffed, and confirmed, and by thefe prefents, do grant, bargain, heirs and afligns, fell, release, enfeoff and confirm unto the faid together with all

all that

of

and all manner of improvements, hereditaments and appurtenances whatfoever, to the fame belonging, or in any wife appertaining, and all the eftate, right, title, intereft, claim and demand whatsoever, of the loan-ofand their fucceffors, to the above barficers of the gained premifes, and every part thereof: To have and to hold the above bargained premifes, and every part thereof, with the appurtenances, to the heirs and affigns, to the fole and only proper ufe, benefit and heirs and afligns forever: In witness whereof, have hereunto fet the feal of their cor

faid

behoof of the faid
the loan-officers of the

poration, together with their hands, the day and year above-written. Sealed and delivered in the prefence of

A loofe feet of the

blank mortgages fill

To which deed the loan-officers fhall affix the feal of the loan-office, and refpectively fubfcribe their names in the prefence of two witneffes. XLV. And be it further enacted by the authority aforefaid, That upon every fale of lands, the loan-officers fhall fill up ed up, fhall be evi- one of the loofe fheets of blank mortgages, like to the original mortgage, and atteft the fame as a true copy, under their hands and the feal of the loan-office, and give it instead of the original mortgage for evidence of the title to the purchafer. And the bond to be entered into by the loan-officers, fhall be in the form following, viz.

dence of title to the

purchafer.

Form of bond to be

given by loan-officers.

NOW all men by thefe prefents, That we,

people of the

to be paid to the faid people; flate of New-York, in the fum of for which payment well and truly to be made and done, we bind ourselves, our heirs, executors and adminiftrators, and every of us, and them jointly and feverally, firmly by the e prefents. Sealed with our feals, and dated the in the of our Lord one thousand seven hunyear day of

dred and

THE condition of the above obligation is fuch, That if the above-bounden fhall and do well and truly perform the office and of

and

duty of one of the loan-officers of the fhall demean himself therein without favour, malice or partiality, then the above obligation to be void, otherwise to remain in full force and virtue. Sealed and delivered in the prefence of

of fich bond, the tuit

XLVI. Ad be it further enabled by the authority aforefaici, In cafe of forfeiture That in cafe of the forfeiture of fuch bond as aforefaid, the to be faved on certain fuit thereon fhall be ftaid, on the defendant's paying, or tendering in court to pay, the damages arifen by the breach of the condition of the faid bond, with the cofts to that time;, and if judgment be had thereon, a jury fhall enquire of the damages according to law.

conditions.

XLVII. And be it further enabled by the authority afirelaid, That for the better fatisfaction of the loan-officers, as to the title and value of what is of fered in mortgage by borrowers, the loan-officers, or either of them, are hereby authorifed and empowered to examine the borrower and witne fes

upon oath, or if of the people called Quakers, on affirmation, concerning the fame; a brief minute of which examination, and the names of the perfons fo examined, they fhall enter into their minute-book of proceedings.

XLVIII. And be it further enacted by the authority aforefd, That the treasurer shall pay the expence of printing the faid bills, and the incidental expences which may arife in or about the fame; and to each of the fame perfons authorised to fign the bills to be emitted by virtue of this act, at the rate of two fhillings for every hundred of the faid bills they may have ref pectively figned, according to fuch accounts thereof as they fhall refpectively produce, audited by the auditor of this flate.

XLIX. And be it further enabled by the authority aforefaid, That the figners of the faid bills, or any three of them, fhall meet at the treafury of this flate, on the first Monday in November, which will be in the year one thoufand feven hundred and eighty-feven, and annually on every firft Monday in November, and the treasurer of this ftate fhall, when the laid figners are fo met as 1 aforefaid, deliver unto them all fuch of the laid bills of credit as fhall then have come into his hands, as treasurer of this ftate, from any of the faid loan-officers, for principal and intereft, together with a list of the feveral denominations of the faid bills; and having examined and compared the faid bills with fuch lift, fhall deftroy the faid bills, and fhall certify that they have deftroyed the bills mentioned and defignated on fuch lift; which lift, fo certified, fhall be delivered to the faid treasurer, and a copy thereof, fo figned, fhall be kept by the faid figners, or one of them, to be by him or them delivered to the legiflature, when thereunto required.

change fuh bills as

gold or filver.

L. And be it further enacted by the awhority aforefaid, Treaturer having That whenever the faid treafuter fhall have received from rece ved 150,000l. in gold or filver and the faid loan-officers, a fum equal to one hundred and fifty bills of credit, to ex- thousand pounds in gold or filver, rartly in gold and filver, are in circulation for and partly in the bills of credit aforefaid; itfall and may be lawful to and for the faid treasurer, and he is hereby required to exchange fuch of the faid bills as may be then in circulation, for the gold or filver fo received, at the nominal value expreffed on fuch bills as may, by any perfon, be tendered to him for exchange; and the faid treasurer is hereby required, as foon as he shall have received to the faid amount, in manner aforefaid, to give public notice thereof, by advertisement to be published in three of the news-papers printed in this flate, and fhall require all perfons having any of the faid bills of credit in poffeffion, within fixty days from the date of fuch advertisement, to bring the fame into the treafury, and to receive gold or filver therefor; and if any fuch bills fhould not be brought in, thofe remaining in circulation fhall not be fo exchanged, but shall be received in all payments into the treafury of this state.

eure blank certificates,

terfeits.

LI. And be it further enacted by the authority aforesaid, Treafurer to pro That the treafurer of this flate be, and he is hereby authorwith checks and de- ifed and required to procure, at the expence of the people vices to Prevent coun- of this ftate, a competent number of blank certificates, with fuch checks and devices as he may deem proper, to guard against counterfeits, and with a margin, or counterpart, fufficiently large to contain a memorandum of the annual payment of intereft which may be made thereon; the blanks of which certificates fo to be procured, fhall be filled up as to the numbers, fums, date, day, and year of paffing this act, and be delivered as herein after directed; and the faid blank certificates hall feverally contain the words following, viz.

Form of certificates.

be paid to the faid

NUMBER

HE people of the flate of New-York, have received on loan, from

TH

the fum of

to

or bearer, on or before the first day of January, which will be in the year of our Lord one thousand feven hundred and ninety, with intereft from the

hundred and e'ghty-five, at the rate of

day of

one thousand feven per centum per annum, to be paid annually at the treasury, according to a law of this flate, pafled on day of

the

.

LII. And it be further enacled by the authority aforesaid, Theatreren receive That the faid treasurer be, and he is hereby authorised and public fecurities on Joan, and give certi- required to receive on loan, in behalf of the people of this ficates in lieu thereof. ftate, fuch public fecurities as are herein after defcribed, and to iffue and deliver, in lieu thereof, to any perfon or perfons who fhall, before the first day of May, which will be in the year of our Lord one thoufand feven hundred and eighty-feven, make fuch loan or loans, a certificate or certificates, at the election of the lender, in the form herein before prefcribed, to the amount or value of the fum or fums due as principal money, on the fecurity and fecurities which he shall fo receive on loan, and shall endorfe on each certificate by him delivered, the amount of intereft due to the first day of January, one thoufand feven hundred and eighty-five, and fubfcribe his name thereto. Provided always, That no more than one certificate fhall be iffued by the faid treasurer, for a fum less than twenty pounds, received from any one perfon.

LIII. And be it further enacted by the authority aforefaid, That each certificate to be delivered by virtue of this act, fhall be numbered, beginning with number one, and fo on in arithmetic progreffion, to the laft that shall be delivered, inclufive; and the blanks of the certificates fhall be filled as follows, viz. The first and third with the name of the perfon making the loan; the fecond, with the amount of principal money of the fecurity or fecurities loaned; the fourth, with the word firfl; the fifth with January; and the fixth, with a rate of intereft equal to the intereft expreffed in the certificates received on loan; and the day, month and year in which this act palled, fhall be printed in the certificates; and each certificate, before the fame is delivered, fhall be figned by the faid treasurer, with his name and file of office.

LIV. And be it further enacted by the authority aforefaid, That the faid treasurer fhall be, and he is hereby authorised and required to receive the following public fecurities on loan, in manner aforefaid, viz.

fecurities to be re

Loan-office certificates iffued by the continental commi What kind of public fioner of loans in this flate, for monies lent to the United ceived on loan. States, at the nominal value expreffed therein, if iffued on or before the first day of feptember, one thousand feven hundred and feventy-seven.

Loan-office certificates iffued by the continental commiffioner of Loans in this flate, for monies loaned to the United States, fince the faid first day of September, reduced to fpecie value by the feale of depreciation, eflablished by the United States in congrefs affembled, on the twenty-eighth day of July, one thousand seven hundred and eighty-one.

Certificates iffued or to be iffued by the continental commissioner of accounts within this ftate, for fervices performed or articles delivered by the inhabitants of this flate, for the ufe of the United States, commonly called Barber's notes.