A. D. 1776. No. 1029. AN ORDINANCE FOR APPOINTING COMMISSIONERS TO STAMP Commissioners appointed to issue bills. AND LOAN ANY SUM OR SUMS NOT EXCEEDING FIVE HUNDRED THOUSAND POUNDS I. Be it ordained, by His Excellency John Rutledge, Esq., President and Commander-in-chief in and over the State of South Carolina, and by the honorable the Legislative Council and General Assembly of the same, That Maurice Simmons, Peter Bocquet, William Scott, jr., Anthony Toomer, Keating Simmons, John Berwick and Benjamin Elliott, Esqs., be, and they are hereby, appointed Commissioners, with all possible despatch to stamp, and any two of them and any one of the commissioners of the treasury (who is to number the said bills) to sign, one hundred and thirty thousand pounds currency, in bills of the following denomination, in dollars: that is to say, five thousand bills of one dollar each, two thousand five hundred bills of two dollars each, two thousand five hundred bills of four dollars each, two thousand five hundred bills of six dollars each, two thousand five hundred bills of eight dollars each, and two thousand five hundred bills of ten dollars each; and the said bills shall be in the following form, and with such devices as the commissioners or a majority of them shall think fit viz: "South Carolina This bill entitles the bearer to receive Form of bills. dollar or dollars (as the case may be) of the value of —, current money, which will be provided for by this State, according to an Ordinance of the General Assembly, passed the nineteenth day of October, in the year of our Lord one thousand seven hundred and seventy-six." Said bills to be And the said bills are hereby declared to be a tender in law in all paya legal tender. ments whatsoever; and the said commissioners shall from time to time deliver the said bills, as soon as they shall be stamped and signed, into the public treasury, for the use of this State. Penalty for counterfeiting said bills. President to contract for a loan. II. And be it further ordained by the authority aforesaid, That any person or persons who shall forge, counterfeit or alter, or utter, knowing them to be forged, counterfeited or altered, any of the said bills, shall, upon being duly convicted thereof, be adjudged guilty of felony, and shall suffer death as a felon, without benefit of clergy. III. And be it further ordained by the authority aforesaid, That the President and Commander-in-chief for the time being, by and with the advice and consent of the Privy Council, shall be, and he is hereby, authorized and empowered to take upon loan, for the use of this State, any sum or sums of money not exceeding five hundred thousand pounds current money of this State, from any person or persons, company or body corporate, willing to lend the same or any part thereof, and for such time or times as they shall agree for, on interest, at the rate of six pounds like money per centum per annum, for the repayment whereof, with the above mentioned interest, the said public treasury shall be liable, and the faith of this State is hereby pledged. THOS. SHUBRICK, Speaker of the Legislative Council. Assented to: J. RUTLEDGE. A. D. 1776. AN ACT FOR APPOINTING COMMISSIONERS TO PRINT OR STAMP AND SIGN No. 1030. WHEREAS, the General Assembly of this State, for the defence thereof at this alarming crisis of public affairs, have unanimously resolved to give and grant, for the use of the State, the sum of six hundred and fifteen thousand three hundred and eighty-four Spanish milled dollars, and to lodge the same in the public treasury, Preamble. I. Be it therefore enacted by his Excellency John Rutledge, Esq., President and Commander-in-chief in and over the State of South Carolina, and by the Honorable the Legislative Council, and by the General Assembly of the said State, and by the authority of the same, That Messrs. William Ancrum, John McCall, Joshua Ward, Nathaniel Russell, Edward Lightwood, William Greenwood, James Wakefield, John Commissioners appointed to isDart, jr. William Price, John Webb, Thomas Jones, James Fisher, sue bills. George Cook and Peter Timothy be, and they are hereby, appointed commissioners, with all possible dispatch to print or stamp, and any three of them, and any one of the commissioners of the treasury (who is to number the said bills) to sign, bills to the amount and value of three hundred and eight thousand Spanish milled dollars, of the following denominations, (that is to say) two thousand of twenty dollars, ten thousand of eight dollars, ten thousand of six dollars, five thousand of five dollars, ten thousand of four dollars, ten thousand of three dollars, ten thousand of two dollars and thirteen thousand of one dollar; and the said bills shall be in the formn following, (that is to say) "South Carolina This bill entitles the bearer to receive bills. Spanish milled dollar or dollars, as the case may be, or the value thereof f Form of said in gold or silver, according to An Act of the General Assembly, passed at Charlestown, the day of - one thousand seven hundred and seventy-six. Which said bills shall have such devices as the Commissioners before mentioned, or a majority of them, shall think proper. to oversee the printing of said II. And be it further enacted by the authority aforesaid, That the said Commissioners, or one of them, shall regularly attend the press at all times when the impressions of the said bills are making, and shall see all Commissioners and every the letter press forms properly secured, or keep the plates for printing or stamping the said bills, in safe custody, at all other times, to bills. prevent any impressions thereof being made in the absence of the said Commissioners; and when the said sum of three hundred and eight thousand dollars shall be printed or stamped as aforesaid, the said letter press forms shall be distributed in the presence of the Commissioner or Commissioners attending the press as aforesaid, or the said plates shall be returned into the treasury of this State. contract for a III. And be it further enacted by the authority aforesaid, That the said Commissioners Commissioners of the Treasury shall have full power and authority, and impowered to are hereby duly authorized and impowered, to take up upon loan, for the loan. use of this State, the sum of three hundred and seven thousand three hun VOL. IV.--46. A. D. 1776. Proviso. Bills to be a legal tender. sued in case a dred and eighty-four dollars, at the rate of thirty-two shillings and sixpence currency each, or the value thereof, in any money current in this State, or any part thereof, from any person or persons, company or body corporate, willing to lend the same or any part thereof, on interest, at the rate of seven per centum for every year; for the repayment whereof, with the abovementioned interest, and sinking the bills stamped and issued by virtue of this Act, within the space of ten years, the said public treasury shall be liable, and the faith of the State is hereby pledged; Provided never-、 theless, that if the said Commissioners of the Treasury cannot, within four months from the passing of this Act, procure the said loan of the said sum of three hundred and seven thousand three hundred and eighty four dollars, that then and in such case it shall and may be lawful for the said Commissioners before named, for printing or stamping the sum of three hundred and eight thousand dollars as aforesaid, and they are hereby authorized and required, with all possible dispatch, to print or stamp, and any three of them and any one of the Commissioners of the treasury (who is to number the said bills) to sign, another sum of three hundred and seven thousand three hundred and eighty-four dollars, or such part of the said sum as cannot be procured on a loan by the Commissioners of the treasury as aforesaid, in bills of the same denominations as heretofore directed to be printed or stamped, immediately after the passing of this Act, and of the same tenour and form. IV. And be it further enacted by the authority aforesaid, That all and every the bills which shall be printed or stamped, signed and issued under and by virtue of this Act, shall be, and are hereby declared to be, a tender in law in all payments whatsoever. V. And be it further enacted by the authority aforesaid, That if it should be found necessary to print or stamp and sign the said last menBills to be is- tioned sum of three hundred and seven thousand three hundred and loan cannot be eighty-four dollars, as aforesaid, or any part thereof, if the said Commisprocured. sioners of the treasury cannot procure the same on a loan as aforesaid, that then the Commissioners herein before named for printing or stamping and signing the sum of three hundred and eight thousand dollars, shall print or cause to be printed the further sum of three hundred and seven thousand three hundred and eighty-four dollars, or such part thereof as cannot be borrowed as aforesaid; or the said Commissioners of the treasury shall deliver to the said Commissioners appointed by this Act, the plate or plates for stamping the said sum of money, and which is by this Act directed to be delivered into the treasury after the printing or stamping of the first sum of three hundred and eight thousand dollars, according to this Act. to oversee VI. And be it further enacted by the authority aforesaid, That the Commissioners Commissioners herein before named and appointed by this Act, or one printing bills. of them, shall regularly attend the press at all times when any impressions are making of the bills to be printed or stamped for the said sum of three hundred and seven thousand three hundred and eighty-four dollars, or any part thereof which the said Commissioners of the treasury may not procure on a loan as aforesaid, and shall properly secure or keep in safe custody all and every the letter press forms or plates for stamping the said bills, at all other times, to prevent any impressions thereof being made in the absence of the said Commissioners; and as soon as the said last mentioned sum of three hundred and seven thousand three hundred and eighty-four dollars, or any part thereof which cannot be procured by the Commissioners of the treasury on loans as aforesaid, shall be printed or stamped, shall see the letter press forms broken and distributed, or deliver the said plates for stamping the same into the custody of the said Commissioners of the treasury. A. D. 1777. cates. VII. And be it further enacted by the authority aforesaid, That for each sum of money lent to the public upon this Act, the Commissioners Commissioners of the treasury shall give to the lender a certificate, specifying the lend- to give certifiers' names, and extending to his executors, administrators or assigns, the sum lent, the time when lent, when to be paid, and the rate of interest, which said certificate shall be transferable by a short memorandum on the back thereof, under the hand and seal of the owner of the said certificate, in the presence of one or more witnesses. VIII. And be it further enacted by the authority aforesaid, That the No certificate Commissioners of the treasury shall not give any certificate for a less sum than one thousand pounds currency. to be issued for IX. And be it further enacted by the authority aforesaid, That if any person or persons whosoever shall forge, counterfeit or utter any bill or bills to be printed or stamped, signed and issued by virtue of this Act, Penalty for or any certificate or certificates for monies borrowed as aforesaid by counterfeiting virtue of this Act, or any assignment or transfer thereof in imitation, bills or certifilikeness or similitude of any bills of credit or certificates for monies cates. borrowed as aforesaid, or any such assignment or transfer thereof, and directed by this Act to be printed or stamped, signed and issued, knowing the same to be forged or counterfeited, or shall counsel, advise, procure or any ways assist in the counterfeiting, printing, impressing, stamping, signing, or uttering any such bill or bills, certificate or certificates, assignment or transfer, as aforesaid, or that shall furnish or set any printing types, or engrave any plate, or make any other instrument, knowing the same to be intended to be used in making such false or counterfeit bill or bills, certificate or certificates, as aforesaid, that then all and every such person or persons so offending, and being thereof lawfully convicted, shall be adjudged to be guilty of felony, and shall suffer the pains of death as a felon, without the benefit of clergy. HUGH RUTLEDGE, Speaker of the Legislative Council. AN ACT FOR THE REDUCTION OF INTEREST, FROM EIGHT TO SEVEN POUNDS No. 1031. FOR EACH HUNDRED POUNDS. WHEREAS, by the constant and uniform experience of all states and nations for ages past, it has been found that a moderate and reasonable interest or annual premium for monies lent on contracts, is productive of the most beneficial effects to a State, by promoting the circulation of specie as a medium of commerce, and rendering the attainment of money easy to the poor and industrious, whereby the honest and laborious, being furnished with the means of labour and industry, are encouraged to pursue their respective employments and arts with diligence and application, and thereby giving rise and progression to the arts, extending and diffusing trade and commerce, advancing and improving agriculture and good husbandry, every occupation becomes flourishing and successful, the strength, wealth, credit and power of a people is supported and in Preamble. A. D. 1777. creased, and peace, plenty, liberty and happiness become firmly established amongst them; in order, therefore, to promote ends so beneficial and desirable, I. Be it enacted by His Excellency John Rutledge, Esq., President and Commander-in-chief in and over the State of South Carolina, and by the honorable the Legislative Council and General Assembly of the said Penalty for exacting interest State, and by authority of the same, That no person or persons above the rate whatsoever, from and after the third day of January, which will be of 7 per cent. in the year of our Lord one thousand seven hundred and seventy-seven, upon any contract which shall be made from and after the said third day of January, shall take, directly or indirectly, for loan of any monies, wares, merchandizes or other commodities whatsoever, above the value of seven pounds for the forbearance of one hundred pounds for one year, and so after that rate for a greater or lesser sum, or for a longer or shorter time, and so according to that rate and proportion, for goods, wares and commodities lent, to be repaid again in goods, wares, commodities, or in monies; and that all bonds, specialties, contracts, promises and assurances whatsoever, made after the time aforesaid, for payment of any principal or money or goods, wares or commodities as aforesaid, to be lent or covenanted to be performed, upon or for any usury whereupon or whereby there shall be reserved or taken above the rate of seven pounds in the hundred as aforesaid, and so according to that rate and proportion if goods, wares, merchandizes or commodities are lent as aforesaid, shall be utterly void and of none effect; and that all and every person and persons whatsoever, who, after the time aforesaid, upon any contract to be made after the said third day of January, shall take, accept or receive, by way or means of any corrupt bargain, loan, exchange, shift or interest of any monies, wares, merchandizes, commodities, or other thing or things whatsoever, or by any deceitful way or means, for the forbearing or giving day of payment for one whole year, of or for their money or other thing, above the sum of seven pounds for the forbearing of one hundred pounds for one year, and so after that rate for a greater or lesser sum, or for a longer or shorter time, or so after that rate or proportion for other goods, wares or commodities, where such shall be lent, contracted or agreed for, taken, accepted or received, shall forfeit and lose for every such offence the treble value of the monies, wares, merchandizes, commodities, or other things so lent, bargained, exchanged, shifted or taken; the one half of which forfeiture shall be paid to the Commissioners of the public treasury, for the use of the State aforesaid, and the other half to him or them that will inform and sue for the same, to be recovered with full costs of suit in any court of record in this State, by action of debt, bill or plaint, wherein no essoign, wager of law or protection shall be allowed: Provided always, that every such action by bill or plaint as aforesaid, shall be commenced and sued in the lender's life time, and within six months after the offence committed, and at no time after. Borrower a usury. II. And whereas, it is to be feared that wicked and evil minded persons, for the sake of lucre and unjust gain, will often exact and take greater sufficient wit- usury and higher rates of interest from necessitous persons than is allowed ness in case of by this Act, in hopes that their offences against this Act may not be discovered for want of proof, as such transactions will be generally carried on when only the borrower and lender are present together; for remedy whereof, and preventing or punishing as much as possible all usurious practices for the future, Be it further enacted, That in all cases whatever, after the said third day of January aforesaid, where any suit or action shall be brought, sued or depending in any court of record in this State, touching or |