་

&c. were loft

in the fame,

court of exchequer, or any of them, that any of the bills which
shall have been made forth for the faid fum, not exceeding one On affidavit,
million, by this act, were, by cafualty or mifchance, loft, burnt &c. that bills,
or otherwife deftroyed, before the time of fuch notice given for or deftroyed,
calling in the fame, and if by the party's oath the numbers and &c. before no-
fums of fuch bill or bills thall be afcertained, and if thereupon tice for calling
the faid chief baron and other the faid barons, or any of them, &c. treasury
before whom fuch oaths were made, fhall certify, that he or to fatisly
they are satisfied in fuch proof, then, and in every fuch case, them out of
the commiffioners of the treasury, or any three or more of them, the money re-
or the high treasurer for the time being, are hereby authorized paid.
to cause the money due upon fuch bill or bills fo loft, burnt or
destroyed, to be fatisfied out of the money which fhall be repaid
as aforefaid, as if the original bill or bills were brought in to be
cancelled provided the perfon or perfons fo receiving the mo-
ney, do give security to the King, to the good liking of the per- Security to be
fon or perfons who fhall be appointed as aforefaid, to take in the given for
faid bills, to pay into the exchequer, for the ufe of the publick, money paid
on certificate,
fo much money as fhall be paid upon fuch certificate or certifi-
cates, if the bill or bills fo certified to be loft, burnt or destroy-
ed, be hereafter produced.

&c.

XXV. And to the end a fufficient provision may be made for circulating and exchanging for ready money from time to time, the faid exchequer-bills not exceeding one million, to be made forth by virtue of this act, during the time they are to be current, and for circulating and exchanging in like manner fo many of the faid exchequer-bills, made forth by virtue of the faid two acts of the fixth and Seventh years of his Majesty's reign, as will remain after cancelling one million thereof, out of the faid furpluffes and other monies pursuant to this act, which remaining bills will, by eftimation, amount in principal money to the further fum of nine hundred and nineteen thousand nine hundred and twelve pounds ten fillings or thereabouts, fo long as they are to be current; be it further enacted by the authority aforefaid, That the commiffioners of the treafury, or any three or Treafury may more of them, or the high treasurer for the time being, on his contract with Majefty's behalf, fhall and may, from time to time, enter into undertakers, any contract or contracts for obliging any perfon or perfons, bo- &c. for circulating bills for dy or bodies politick or corporate, who will voluntarily under- ready money. take this service at his or their own cofts and charges, to circulate and exchange, or cause to be circulated and exchanged, at fome publick office in London or Westminster for ready money, from time to time, all fuch of the faid bills for feveral fums not exceeding one million and nine hundred and nineteen thoufand nine hundred and twelve pounds ten fhillings, as fhall be demanded at the faid publick office, during the time or respective times of fuch contract or contracts, by paying in ready money, Undertakers at their own costs and charges, upon every fuch demand, or with- to pay princiin twenty four hours after, all the principal monies contained pal and in. in every such bill fo demanded, and the intereft which fhall then tereft of bills, on demand. be due thereupon, and fo toties quoties as often as any fuch bill hall be demanded, the faid undertakers, from time to time, up

Ff 4

on

Allowances for payment

on exchanging every fuch bill, taking in the bill so exchanged for their own use, and being allowed a rate not exceeding three pounds per centum per annum, as well for paying the said intereft and fervices. at their own cofts, as alfo in reward for their fervice, upon all the bills fo undertaken to be circulated, fo long as they shall exceed one million in principal, and a rate not exceeding twenty fhillings per centum per annum for the like, upon all the bills fo undertaken to be circulated, from the time they in the whole shall be reduced to any fum, not exceeding one million in principal, which faid refpective rates fhall be paid as is herein after mentioned; and the faid contract or contracts fhall be made in be registred. writing, and regiftred in the office of the auditor of the receipt of his Majesty's exchequer, and fhall be made to endure for fuch time and times refpectively as fhall be agreed by the

Contracts to

Contractors, for that cause,

not disabled to be members of par

liament, nor

liable to be bankrupts.

Intereft of 51. per centum per annum, payable by South Sea

company, &c. and finking fund, to be fe

curities for al

lowances to

contractors.

XXVI. And it is hereby enacted, That fuch contractors or any of them, shall not, for that caufe only, be disabled from being a member or members of parliament, or be adjudged liable to be a bankrupt or bankrupts, within the intent or meaning of all or any of the itatutes made against or concerning bankrupts; any law, ftatute or provifion to the contrary notwithstanding.

XXVII. And to the end the faid respective rates, not exceeding three pounds per centum per annum, and twenty fillings per centum per annum to be paid to the faid undertakers as aforefaid, may conftantly be raised and paid: it is hereby enacted by the authority aforefaid, That the abovefaid intereft after the rate of five pounds per centum per annum, payable by the said South-Sea company, for the faid million which was lent to them, fhall be, and the fame is hereby enacted to be a fund or fecurity, so long as undertakers. fuch interest shall be payable, for or towards answering the said allowance, not exceeding the faid rate of three pounds per centum per annum to the faid undertaker or undertakers; and that the monies hereafter to come in upon the said finking fund, shall be a fund or fecurity for anfwering fo much as (together with the faid intereft payable by the South-Sea company) fhall make up the faid allowance after the said rate not exceeding three pounds per centum per annum, so long as the fame fhall be payable, and for anfwering the faid allowance not exceeding the rate of twenty fhillings per centum per annum, from the time the fame is to commence, during the continuance thereof, according to the true intent and meaning of this act; and that the commiffioners of the treasury, or any three or more of them, or the high treasurer for the time being, fhall cause the said refpective rates to the faid undertakers to be paid and applied out of the fame funds or fecurities accordingly; any former law or ftatute to the contrary notwithstanding.

Treafury to

caufe payments, &c.

liament of

If provision be XXVIII. Provided always, and it is hereby enacted by the made by par- authority aforefaid, That if at any time or times hereafter promoney for dif. vifion fhall be made by authority of parliament, in the lawful charging the coins of this realm, placed in the exchequer, for paying off and

6 Geo. then

discharging the faid exchequer-bills, which are made forth by bills made
the faid act of the fixth year of his Majefty's reign (in lieu of forth by
old exchequer-bills which were cancelled in pursuance thereof) the bills paid
computed to amount to the said fum of nine hundred nineteen off, fhall be
thousand nine hundred twelve pounds and ten fhillings or there- cancelled.
abouts, then the faid bills themselves fo computed to amount to
nine hundred nineteen thoufand nine hundred twelve pounds
and ten fhillings or thereabouts, which fhall be fo paid off, or
for which fuch coined money shall be reserved in the exchequer
to discharge the fame, fhall be discharged and cancelled; and if
before the feventh day of June one thousand seven hundred and If monies be
twenty three, coined money fhall not be raised and brought in- not raised be-
to the receipt of the exchequer for discharging the bills laft men- fore 7 June
1723, then the
tioned, then all the monies which fhall then remain or after- monies com-
wards come into the exchequer, of or for the said surpluffes, ex- ing in of the
ceffes and overpluffes, commonly called the finking fund, fhall finking fund,
to be applied
be applied for or towards paying off, difcharging and cancelling to cancelling
the faid exchequer-bills, not exceeding nine hundred nineteen bills, &c.
thousand nine hundred twelve pounds and ten fhillings or there-
abouts, till they fhall all compleatly be paid off and cancelled,
in fuch or the like manner and form as are by this act prescrib-
ed for cancelling and discharging the faid bills not exceeding one
million, to be made forth by virtue of this act; this present act
or any thing therein contained to the contrary notwithstanding.

XXIX. Provided always, and it is hereby enacted by the au-
thority aforefaid, That all the monies arisen or to arise into the
exchequer by the faid furpluffes, exceffes and overpluffes, com-
monly called the finking fund (except fo much as at Lady-day
one thousand seven hundred and twenty two or afterwards, is to
be applied to discharge the faid exchequer-bills not exceeding
one million, which were originally created to be lent to the said
company as aforefaid, and except fo much of the said finking Monies to a-
fund as will pay off and difcharge the faid bills, not exceeding rife by fink-
nine hundred nineteen thousand nine hundred twelve pounds ing fund (ex-
and ten fhillings or thereabouts, in fuch cafe as aforefaid, and cept as herein
excepted) to
except such monies as are by this or any other act of this feffion be appropria-
of parliament, or by any other act or acts of any former feffion ted for dif
of parliament, fpecially charged upon the faid finking fund, or charging prin-
cipal and inte-
to be paid out of the fame, or out of any monies compofing the reft of nation-
faid finking fund) shall be appropriated, referved and employ- al debts incur-
ed, to and for difcharging the principal and intereft of fuch na- red before 25
tional debts and incumbrances, as were incurred before the Dec. 1716.
twenty fifth day of December one thousand seven hundred and
fixteen, and are declared to be fuch national debts as may be re-
deemed and are provided for by act of parliament, in fuch man-
-ner and form as fhall be directed and appointed by any future
act or acts of parliament, to be difcharged therewith or out of
the fame, and to and for none other ufe, intent or purpose what-
foever.

XXX. And it is hereby enacted by the authority aforefaid, No fee to be That no fee, reward or gratuity fhall be demanded or taken, taken for any

6

di- thing done in

pursuance of this act.

monies, &c.

directly or indirectly, by any his Majefty's officers in the exchequer, or by any of their clerks or fubftitutes, from any his Majefty's fubjects, for any matter or thing to be done by the faid officers, clerks and fubftitutes, or any of them respectively, Penalty on of. in pursuance of this act; and that no fuch officer, clerk or fubficer, &c. ftitute shall divert or misapply, or caufe or procure to be divertmifapplying ed or mifapplied, any of the monies by this act intended for the exchanging, circulating or paying off the faid bills or any of them, under fuch penalties, forfeitures and difabilities, to be incurred by and inflicted on them refpectively, as by one act of this feffion of parliament for granting an aid to his Majesty by a land-tax to be raised in Great Britain, for the fervice of the year one thousand seven hundred and twenty two, are prescribed or enacted for diverting and mifapplying any the monies thereby granted, or for taking or demanding any fee, reward or gratuity concerning the fame.

XXXI. Provided always nevertheless, and it is hereby enactTreasury out ed by the authority aforefaid, That the faid commiffioners of the of finking fund to defray treasury, or any three or more of them, or the high treasurer the charges of for the time being, fhall have power, and he or they are hereby executing this enabled to pay and allow, or caufe to be paid and allowed, out act,

Recital of
7 Geo. 1.
itat. 1. c. 27.

of the monies to arise of or for the faid furpluffes, exceffes and overplus monies, called the finking fund, from time to time, the neceffary charges of cancelling fuch exchequer-bills as are hereby directed to be cancelled, and of making forth the new exchequer-bills hereby authorized to be made forth, and fuch other charges as shall be neceffarily incident in or for the execution of this act, or any part thereof; any thing herein contained to the contrary notwithstanding.

XXXII. And whereas the revenues fettled or appointed for the fervice of his Majefly's houfhold, and the honour and dignity of the crown, did produce in clear money for one year, ended at Michaelmas one thousand feven hundred and twenty, the fum of one hundred two thousand fix hundred eighty two pounds feven fillings and eleven pence three farthings, over and above the fum of feven hundred thousand pounds, allowed for those fervices in that year; and by an act of parliament made and paffed in the feventh year of his Majefty's reign, intituled, An act for raising a fum not exceeding five hundred thousand pounds, by charging annuities at the rate of five pounds per centum per annum, upon the civil lift revenues till redeemed by the crown; and for enabling his Majefty, his heirs or fucceffors (by caufing fuch a deduction to be made as therein is mentioned) to make good to the civil lift the payments. which fhall have been made upon the faid annuities; and for borrowing money upon certain lottery tickets; and for discharging the corporations for affurances of part of the money which they were obliged to pay to his Majefty; and for making good a deficiency to the Eaft-India company, it was enacted, That yearly and every year, from and after the feast of the nativity of Saint John Baptift in the year of our Lord one thousand feven hundred and twenty one, a certain yearly fund, to be computed after the rate of

five

five pounds per centum per annum, for and upon all the annuities to be purchafed upon that act, should be and was, by virtue thereof, Settled and established in the manner therein mentioned; and that for raising any fum or fums of money, not exceeding five hundred thousand pounds, for the purposes therein mentioned, it should be lawful for any perfons, bodies politick or corporate, to contribute, advance and pay to the first or chief cashier of the governor and company of the bank of England for the time being, any fum or fums of money, not exceeding in the whole the faid fum of five hundred thousand pounds, for the purchase of fuch annuity or annuities as were thereby charged or chargeable, fubject to fuch redemption as is therein mentioned; and the commiffioners of his Majefty's treafury, or the high treasurer for the time being, were thereby impowered to cause any arrear or arrears of any fees, falaries, wages, penfions, annuities or other certain or extraordinary allowances, or any debt or debts, fum or fums of money due or to be due or payable at the receipt of exchequer, by virtue of any letters patents or other lawful authorities, whereupon the fame reSpectively were or should be grounded, to be fatisfied and paid at the fame receipt, by levying tallies of pro or affignment, or other tallies upon the faid cashier for the time being, for or in part of the faid fum not exceeding five hundred thousand pounds; and that upon producing fuch talley or tallies, and delivering or tendring the fame to the faid cashier, the fame cashier fhould forthwith give a receipt in writing for fuch talley or tallies, and the perfon or persons so producing and delivering or tendring the fame, fhould in refpect thereof be deemed contributors within the meaning of that act; and their names and the fums contained in fuch tallies respectively, should be fairly entred in the book or books of the controller therein mentioned, and into the duplicates thereof, to be tranfmitted into the office of the auditor of the receipt of the exchequer; and fuch contributor and contributors, by delivering up his, her or their tallies, or fuch as he, The or they should nominate, his, her or their executors, adminiftrators, fucceffors and affigns fhould have, receive and enjoy the respective annuity and annuities fo purchased out of the yearly fund by that act fettled and established, and fhould have fuch or the like estate and intereft therein, as if his, her or their contribution or contributions had been Specifically made in ready money, as by the aft laft mentioned, relation being thereunto had, may more fully appear. And whereas the above mentioned fum of one hundred two thousand fix hundred eighty twa pounds feven fhillings and eleven pence three farthings, was part of the faid fum not exceeding five hundred thousand pounds intended to be raifed by the act laft in part recited, and after the raising thereof, the faid fum of one hundred two thousand fix hundred eighty two pounds Seven fillings and eleven pence three farthings, ought (as part of the excefs or furplus of the fund, commonly called the aggregate fund, arifen within the faid year, ended at Michaelmas one thousand seven hundred and twenty) to be applied to make good fo much of the furpluffes, exceffes and overplus monies, commonly called the finking fund, out of which the exchequer-bills, formerly lent to the South-Sea company, are by this act appointed to be paid off and cancelled, as is above mentioned: now for the more effectual raifing the faid fum of one

hun