all fuch hides and skins and pieces of hides and skins, and vel lom and parchment, as from time to time fhall have been laf ftamped by the officers for the faid duties, feparate and apar from all other hides and skins and pieces of hides and skins, vel lom and parchment, which at any time or times before fhal have been ftamped by the officers for the faid duties, during the respective times herein after-mentioned, (that is to fay) with in the limits of the weekly bills of mortality by the space o twenty four hours next after fuch ftamping thereof by the fai officers; and in other places out of the limits of the faid week ly bills, by the space of two days next after such stamping there of, unless the fame fhall refpectively fooner have been weighed and taken account of by the refpective furveyors or fupervifor Penalty 101. for the faid duties, on pain to forfeit for every offence therein the fum of ten pounds.

Recital of the

act of

3

Geo. I. c. 8.

CA P. III.

An alt for applying certain overplus monies, and further fums to be raifed, as well by way of a lottery, as by loans towards paying off and cancelling exchequer bills, and for Leffening the prefent great charge in relation to thofe bills and for circulating and exchanging for ready money the refidue of the fame bills for the future.

MA

AY it pleafe your most excellent Majefty, Whereas by an að of parliament of the third year of your Majefty's reign, inFarther provi- tituled, An act for redeeming feveral funds of the governor and hons concerning company of the bank of England, pursuant to former provifoes the funds grant- of redemption; and for fecuring to them feveral new funds and ed by this aft allowances redeemable by parliament; and for obliging them to advance further fums not exceeding two millions five hundred 11 Geo.1, c. 9. thousand pounds, at five pounds per centum, as fhall be found 13 Geo. 1.c.3. neceffary to be employed in leffening the national debts and in

6 Geo. I. c. 2.

4, & 10.

cumbrances; and for continuing certain provifions formerly made for the expences of his Majefty's civil government; and for payment of annuities formerly purchased at the rate of five pounds per centum; and for other purposes in this act mentioned, the faid governor and company of the bank of England, and their fucceffors, for circulating certain bills, commonly called exchequer bills, therein mentioned, amounting to two millions five hundred fixty one thousand and twenty five pounds or thereabouts, in principal money, and for exchanging the fame for ready money on demand, are entitlea to an annuity or yearly fum of feventy fix thousand eight hundred and thirty pounds fifteen fillings (being an allowance after the rate of three pounds per centum per annum, computed upon the faid fum of two millions five hundred fixty one thousand and twenty five pounds) fubject nevertheless to a provifa of redemption in that act contained, upon fuch notice as is thereby prescribed, which annuity or yearly allowance is by the fame at charged upon and made payable out of the monies grifen or to arife at the receipt of the exchequer, of on for certain par

2.

ticular

ticular duties on boufes, and of or for feveral other duties and reve mues, called the aggregate fund in that act, and in former as relating to the faid fund more particularly mentioned and defcribed in the order and courfe, and with fuch preference as is thereby directed; and by the act first above-mentioned it is enacted and declared, That as well the faid particular duties on houses, and the duties, revenues and incomes compofing the faid aggregate fund, and all other duties which were fettled for payment of a former yearly fum of one hundred and fix thousand five hundred and one pounds thirteen fillings and five pence, and the intereft and allowances relating to former exchequer bills therein mentioned, fhould be continued, but be difpofable to and for the feveral and refpective ufes and purposes appointed by that a&t and sub- ̧ ject to the feveral provifoes of redemption therein contained; and that all the monies of the faid duties, revenues and incomes, which should or ought to be brought into the receipt of the exchequer (except the necef fary charges for raifing, collecting, levying, issuing, paying and atcounting for the fame) fhould be and are thereby appropriated, and fhould be iffued and applied to and for the payment and fatisfaction of Several yearly and other fums in the faid at particularly expreffed, in. their due course and with fuch preferences as are thereby appointed; amongst which payments an express provifion is made for payment of the faid annuity or allowance of feventy fix thousand eight hundred and thirty pounds fifteen fbillings per annum, and for answering all demands of intereft due and to be due upon the faid exchequer bills as is therein mentioned. And by the fame act it was declared and enacted, That the excefs or furplus which, at the end of every or any quarter of a year (reckoning the quarters to end at the ufual feaft-days) should or might be produced by the faid feveral rates, duties, revenues and incomes thereby appropriated, and should remain in the exchequer (over and above the money then due or demandable for or upon the feveral annuities, allowances and other payments therein before-mentioned, or any arrears of the fame) fhould attend the difpofition of parliament, and be applied according to act or acts of parliament in that behalf, and not otherwife. And it was thereby declared and enacted, That any vote or refolution of the house of commons, fignified by the Speaker of the faid houfe in writing, and delivered at the publick office of the Jaid governor and company, should be deemed and adjudged to be a fufficient notice within the words and meaning of the faid act for redeeming the faid annuity or allowance of seventy-fix thousand eight hundred and thirty pounds fifteen fhillings per annum, as by the fame act, relation being thereunto had (amongst many other matters and things therein contained) may more fully appear. And whereas by Recital of another act of parliament of the faid third year of your Majesty's the act of reign, intituled, An act for redeeming the yearly fund of the 3 Geo. 1. c. 9. South Sea company, being after the rate of fix pounds per centum per annum, and fettling on the faid company a yearly fund after the rate of five pounds per centum per annum, redeemable by parliament; and to raife for an annuity or annuities at.five pounds per centum per annum any fum not exceeding two millions, to be employed in leffening the national debts and incumbrances; and for making the faid new yearly fund and annuities to be

B 4

here

hereafter redeemable in the time and manner thereby prefcribed, feveral other fubfidies, impofitions, duties, revenues and proportional parts of duties and revenues therein mentioned, or thereby referred unto, were continued for the feveral and respective ufes and purpofes in that act. And it was thereby enacted, That all the monies thereof which should or ought to be brought into the exchequer for thofe purpofes (except the necessary charges of raising, collecting, levying, issuing and accounting for the fame; and except fuch part thereof, as by any former act or acts of parliament was applicable to the repayment of loans then remaining unsatisfied, and to pay the intereft of the fame) Should be and are thereby appropriated, and should be iffued and applied to and for the payment of the yearly and other fums in the fame act particularly expreffed, in their due method and order, and subject to fuch redemption as are thereby prescribed. And by the fame alt it was provided and enacted, That if at any time at the end of any quarter of a year (reckoning the quarters to end at the ufual feafts) there Should be an excess or Jurplus of the monies brought into the exchequer of the faid fubfidies, impofitions, duties, revenues and proportional parts, and fuch excess or furplus fhould remain there, over and above the money then or before that time grown due, by or in pursuance of that act, as is therein mentioned, then fuch excefs or furplus fhould from time to time attend the difpofition of parliament, and be applied according to act or acts of parliament, and not otherwife, as by the act last mentioned (relation being thereunto had) may also more fully Recital of the appear. And whereas by another act of parliament of the faid third year of your Majesty's reign, intituled, An act for redeeming the deeming feve- duties and revenues which were fettled to pay off principal and ral lotteries, intereft on the orders made forth on four lottery acts paffed in the ninth and tenth years of her late Majefty's reign, and for redeeming certain annuities payable on orders out of the hereditary excife, according to a former act in that behalf; and for establishing a general yearly fund, not only for the future payment of annuities at feveral rates, to be payable and transferrable at the bank of England, and redeemable by parliament, but alfo to raise monies for fuch proprietors of the said orders as shall chufe to be paid their principal and arrears of interest in ready money; and for making good fuch other deficiencies and payments as in this act are mentioned; and for taking off the duties on linfeed imported, and British linen exported, feveral other customs, fubfidies, impofitions, additional impofitions, rates, duties, additional rates and duties, proportional parts of duties, revenues, and weekly and other payments out of duties and revenues therein Specified, or thereby referred unto, were continued for the purposes in that act: and it was thereby enacted, That yearly and every year, reckoning the first year to begin from the feaft of Saint Michael the archangel one thousand feven hundred and feventeen, and from thenceforth for ever (fubject nevertheless to fuch provifoes and power of redemption as are in that act contained) the full fum of feven hundred twenty four thousand eight hundred forty nine pounds fix fbillings ten pence and one fifth part of a penny per annum, by or out of the momies arifing of or for the faid cuftoms, fubfidies, impofitions, rates,

act for re

&c.

3 Geo. 1. c. 7.

additional duties, proportional parts, weekly and other payments by that act appropriated and directed to be brought, from time to time, into the exchequer, in cafe the fame should extend to the faid fum of Seven hundred twenty four thousand eight hundred forty nine pounds fix fbillings ten pence and one fifth part of a penny, fhould be computed and reckoned to be a general fund; and in cafe all the monies fo arifing into the exchequer of or for the faid cuftoms, fubfidies, impofitions, rates, duties, additional duties, proportional parts, weekly and other payments, fhould not amount to feven hundred twenty four thoufand eight hundred forty nine pounds fix shillings ten pence and one fifth part of a penny per annum, then the monies fo arifing, fo far as the fame would extend, fhould be part of the faid general yearly fund of feven hundred twenty four thousand eight hundred forty nine pounds fix fbillings ten pence and one fifth part of a penny per annum, for and towards the answering and paying all the annuities and payments by that act charged or chargeable thereupon; and in cafe all the monies by that act appointed or appropriated, as aforefaid, should at any time or times appear to be fo deficient or low in the produce of the fame, as that within any one year to be reckoned, as aforefaid, the faid monies fo arifing in the exchequer, of or for all the said customs, fubfidies, impofitions, rates, duties, additional duties, proportional parts, weekly and other payments, should not amount to fo much as Seven hundred twenty four thousand eight hundred forty nine pounds fix fbillings ten pence and one fifth part of a penny, that then and fo often, and in every fuch cafe, fo much as fhould be wanting to make up the faid general fund or fum of feven hundred twenty four thou fand eight bundred forty nine pounds fix fhillings ten pence and one fifth part of a penny, for every or any fuch year, should be fupplied and made good, from time to time, by or out of the first aid or fupply to be granted in parliament next after fuch deficiency should appear, and fhould from time to time be transferred thereunto, as foon as the fame Should be granted: and it was thereby enacted, That the excess or furplus, which at the end of every or any quarter of a year (reckoning the quarters to end at the four most ufual feast days) should or might be produced by the customs, fubfidies, impofitions, additional and other duties, proportional parts of duties, and by the faid weekly and other payments, by that act appropriated or charged to make good the faid general yearly fund of seven hundred twenty four thousand eight hundred forty nine pounds fix fhillings ten pence and one fifth part of a penny, over and above fo much as shall be fufficient to make good the fame; and fo much of the faid general yearly fund as at the end of any quarter of a year fhall remain in the receipt of the exchequer, over and above all the monies then due or payable, to discharge the feveral annuities and other payments by that act directed to be fatisfied out of the fame, and all arrears thereof (if any fuch were) should likewife from time to time attend the difpofition of parliament and be applied according to act or acts of parliament, and not otherwife. And by the act laft recited, it was further declared and enacted, That 3 Geo. 1. c. 7. all the monies to arife from time to time, as well of or for the excefs or furplus by virtue of the faid act made for redeeming the funds of the governor and company of the bank of England, and of or for

the

the faid excefs or furplus by virtue of the said act made for redeeming the funds of the faid governor and company of merchants of Great Britain trading to the South Seas and other parts of America, and for encouraging the fifbery; as also of and for the faid excefs or furplus of the faid duties and revenues by the faid other act of the third year of your Majefty's reign, appropriated to make good the faid general yearly fund as aforefaid, and the overplus monies of the fame general yearly fund thereby established, or intended to be established as aforefaid, fhould be appropriated, referved and employed to and for the difcharging the principal and intereft of fuch national debts and incumbrances as were contracted before the twenty fifth day of December one thousand feven hundred and fixteen, and were declared to be national debts, and were provided for by acts of parliament, in fuch manner and form, as fhould be directed or appointed by any future act or acts of parliament to be discharged therewith or out of the fame, and to and for none other ufe, intent or purpose whatsoever, as by the att laft before recited (relation being thereunto had) may likewife more fully appear. And whereas the faid fum, not exceeding two millions 3 s Geo. 1. c. 8. five hundred thousand pounds, in the faid first recited act mentioned, or any part thereof, was not advanced by the faid governor and company of the bank of England, or called for or required by the commillioners of your Majefty's treafury, fo that the faid duties, revenues and incomes, called the aggregate fund, are not charged or chargeable with any annuity or other payment whatsoever in respect of the fame, by the faid first recited act or otherwise howsoever; and the faid fum, not exceeding two millions, mentioned in the faid act relating to the 3 Geo. 1. c. 9. South Sea company, or any part thereof, was not advanced by that company, or called for or required by the commissioners of your Majefy's treasury, fo that the faid duties, revenues and incomes, comprebended in the fund of that company, are not charged or chargeable with any annuity or other payment whatsoever in respect of the fame, by virtue of the faid att relating to that company or otherwife bow foever. And whereas we your Majefty's faid dutiful and loyal fubjects the commons of Great Britain in parliament affembled (pursuant to the claufes contained in the act firft above recited) did on the tenth day of March in the year of our Lord one thousand feven hundred and seventeen refolve, That notice fhould be given to the faid governor and company of the bank of England, That the house of commons would at Lady-day one thousand feven hundred and nineteen redeem the faid annuity of feventy fix thousand eight hundred and thirty pounds fifteen billings; and ordered the speaker of the faid houfe, on or before Lady-day one thousand seven hundred and eighteen, to fignify the said refolution in writing to the faid governor and company, which was fignified accordingly. And whereas by computation as many of the said exchequer bills as do amount to the faid sum of two millions five hundred fixty one thousand twenty five pounds in principal money, made forth by the faid former acts of parliament, do on the fourteenth day of January one thousand feven hundred and eighteen remain undifcharged and uncancelled, and the prefent coft and expence to the publick for circulating and exchanging the fame doth, by the faid allowance of three pounds per centum per annum, and by the faid growing interest

of