15 Geo. II.

to her fervants, tradefmen, and others, as are therein mentioned) the before recited provife or condition, for determining the faid yearly fund of one hundred thousand pounds, upon twelve months notice after the faid first day of Auguft, one thousand feven hundred and thirty two, upon fuch payments as aforefaid, was thereby repealed and made void; and it was thereby provided and enacted, That at any time, upon twelve months notice, after the first day of Auguft, which should be in the year of our Lord one thousand seven hundred and forty two, and not before, and upon repayment by parliament to the faid governor and company of the bank of England, or their fucceffors, of the faid fum of fixteen hundred thousand pounds, without any deduction, difcount, or abatement whatsoever, and upon payment to the faid governor and company, and their fucceffors, of all arrears of the faid one hundred thousand pounds per annum, and all the principal and intereft money, which should be owing to them upon all fuch tallies, Exchequer orders, or parliamentary funds, which the faid governor and company, or their fucceffors, bould have remaining in their hands, or be intitled to, at the time of fuch notice to be given as aforefaid (fuch funds for redemption whereof other provision is made in the faid former acts, or any of them, or in the faid recited act, always excepted) then, and in fuch cafe, and not till then, the faid yearly fund of one hundred thousand pounds should ceafe and determine and it is also further provided and enacted, That from and after fuch redemption of the faid one hundred thousand pounds per annum, and from and after redemption fhould be made by parliament of the annuity of one hundred and fix thousand five hundred and onepounds, thirteen fillings, and five pence, by the faid recited act, of the feventh year of her faid late Majefty's reign, fettled and payable to the faid governor and company, in the manner therein mentioned, and from and after redemption fhould likewife be made of the fund eftablished by the faid recited act, in relation to the Exchequer bills therein mentioned, then, and not till then, the faid corporation of the governor and company of the bank of England should ceafe and determine; but till then the faid governor and company should continue a corporation, and should have and enjoy all the powers and privileges they were intitled to, as by the fame act (relation being thereunto had) may more fully appear: and whereas by an act of parliament made in the fifteenth year of the reign of his late majesty King George the Second (intituled, An act for establishing an agreement with the governor and company of the bank of England, for advancing the fum of one million fix hundred thousand pounds, towards the fupply for the fervice of the year one thousand seven hundred and forty two) the faid governor and company, and their fucceffors, were directed to advance and pay into the receipt of his Majefty's Exchequer, for his Majesty's ufe, the full fum of one million fix hundred thousand pounds, on or before fuch time, and in fuch manner, and under fuch conditions, as in the faid act are mentioned; and it was thereby declared and enacted, That the feveral and refpective provifoes, contained in the faid acts of the feventh and twelfth years of the reign of her late majesty Queen Anne, and each of them, and all other provifoes contained in any other act or acts of parliament for

deter

>

determining the faid fund of one hundred thousand pounds per annum, and the faid corporation of the governor and company of the bank of England, upon the respective notices and payments in the fame respective acts mentioned, fhould be, and were thereby repealed and made void; and that. the faid governor and company of the bank of England, fo enlarged as aforefaid, and their fucceffors for ever, fhould remain, continue, and be, one body corporate and politic, by the name aforefaid, and fhould far ever have, receive, and enjoy, the faid entire yearly fund of one. hundred thousand pounds, out of the faid rates and duties of excife, together with a perpetual fucceffion, and privilege of exclufive banking, as therein after was mentioned, and all other abilities, capacities, powers, authorities, franchises, exemptions, privileges, profits, and advantages whatsoever, whereunto the governor and company of the bank of England, before the making of the faid act, were intitled by the faid acts of the seventh and twelfth years of the reign of her faid late majesty Queen Anne, or either of them, or by any other act or acts of parliament, grants or charters whatsoever, then in force; all which were by the faid act ratified and confirmed to the faid governor and company, and their fucceffors, freed and difcharged of and from the faid provifoes and conditions of redemption thereby repealed, or intended to be repealed, as aforesaid, and all other provifoes, powers, acts, matters, and things whatsoever, theretofore had, made, done, or committed, for redeeming, determining, or making void, the faid corporation, or yearly fund of one hundred thousand pounds, and the faid privilege of exclufive banking, and all other their abilities, capacities, powers, authorities, franchifes, exemptions, privileges, profits, and advantages, or any of them; fubject nevertheless to fuch refrictions, rules, and directions, and alfo to fuch other agreements, matters, and things, as in the faid acts and charters, or any of them then in force, were contained or prescribed, and also fubject to the power and condition of redemption thereafter in the faid act contained in that behalf; and it was thereby also provided and enacted, That at any time, upon twelve months notice, after the first day of Auguft, which should be in the year of our Lord one thousand seven hundred and fixty four, and not before, and upon the re-payment by parliament to the faid governor and company of the bank of England, or their fucceffors, as well of the faid fum of one million fix hundred thousand pounds formerly advanced, as of the fum of one million fix hundred thousand pounds before mentioned then to be advanced, amounting, in the whole, to the fum of three millions two hundred thousand pounds, without any deduction, difcount, or abatement whatfoever, to be made out of the faid fum of three millions two hundred thousand pounds, or any part thereof, and upon payment to the faid governor and company, and their fucceffors, of all the arrears of the faid one hundred thousand pounds per annum, and all the principal and intereft money which should be owing unto them upon all fuch tallies, Exchequer orders, Exchequer bills, or parliamentary funds, which the faid governor and company, or their fucceffors, fhould have remaining in their hands, or be intitled to, at the time of fuch notice to be given as aforefaid (fuch funds for redemption whereof other provifion was made in and by the acts of parliament therein mentioned,

always

always and only excepted) then, and in fuch cafe, and not till then, the faid yearly fund of one hundred thousand pounds should ceafe and determine: and whereas the faid governor and company of the bank of England are willing and contented to advance, towards the fupply granted to your Majefty for the fervice of the year one thousand seven bundred and fixty four, the fum of one million, on Exchequer bills bearing intereft at the rate of three pounds per centum per annum, the faid intereft to be paid quarterly, and the faid Exchequer bills to be charged upon, and repaid out of, the first aids or fupplies which fball be granted by parliament for the fervice of the year one thousand feven hundred and fixty fix, and in cafe fufficient aids or fupplies fhall not be granted for that purpose before the fifth day of April, one thoufand feven hundred and fixty fix, the fame to be charged upon, and repaid out of, the finking fund; and alfo to pay into his Majesty's Exchequer, towards the faid fupply, the fum of one hundred and ten thousand pounds, without any repayment of the principal, or allowance of intereft for the fame, provided that the privilege of exclusive banking, and all other the abilities, capacities, powers, authorities, franchifes, exemptions, privileges, profits, and advantages, in this or any former alt contained, be granted and confirmed to the faid governor and company, in fuch manner as is herein after mentioned: now we, your Majesty's most dutiful and loyal fubjects, the commons of Great Britain in parliament affembled, being defirous to raise, with as much ease and advantage as poffible to your fubjects, the neceffary fupplies, and to encourage the faid governor and company to advance the faid fums of one million, and of one hundred and ten thousand pounds, in the manner herein after appointed, do moft humbly befeech your Majefty, that it may be enacted; and be it enacted by the King's most Commiffion- exceilent majefty, by and with the advice and confent of the ers of the trea- lords fpiritual and temporal, and commons, in this prefent parfury impower-liament affembled, and by the authority of the fame, That it. time before shall and may be lawful to and for the commiffioners of his Ma5 Jan. 1765, to jesty's treasury now or for the time being, or any three or more direct Exche- of them, or the high treasurer for the time being, at any time quer bills to be made out for or times before the fifth day of January, one thousand seven hundred and fixty five, to caufe or direct any number of Exchequer bills to be made out for any fum or fums of money not exceeding in the whole the fum of one million, in the fame or as is prefcrib- like manner, form, and order, and according to the fame or ed by the malt like rules and directions, as in and by an act of this present sesact of this fef- fion of parliament (intituled, An act for continuing and granting fion, concern- to his Majesty certain duties upon malt, mum, cyder, and perry, for ing Exchequer bills thereby the Service of the year one thousand feven hundred and fixty four) are authorized to enacted and prefcribed concerning the Exchequer bills to be be made out. made in pursuance of the said act.

ed at any

any fum not exceeding 1,000,000 1.

in like manner

extended to

Claufes, &c. II. And be it further enacted by the authority aforefaid, That in the Laid act all and every the claufes, provifoes, powers, privileges, advan the Exchequer tages, penalties, forfeitures, and difabilities, contained in the bills to be faid laft mentioned act, relating to the Exchequer bills authomade in pur- rized to be made by the fame act (except fuch claufes as do

charge

charge the fame on the taxes granted by the same act, and fuch fuance of this claufes as limit or relate to the afcertaining the rate of intereft act. to be paid for the forbearance of money lent on the credit of the faid act, and also except as herein after mentioned) fhall be applied and extended to the Exchequer bills to be made in purfuance of this act, as fully and effectually, to all intents and purpoíes, as if the fame had been originally authorized by the faid laft mentioned act, or as if the faid feveral claufes or provifoes had been particularly repeated and re-enacted in the body of this act.

III. And be it further enacted by the authority aforefaid, Bills to carry That the faid Exchequer bills fhall bear an intereft after the 3 per cent. rate of three pounds per centum per annum.

interest.

IV. Provided always, and be it further enacted by the autho- Exchequer rity aforefaid, That no Exchequer bill or bills to be made out bills fo iffued by virtue of this act, fhall, after the fame hath or have been not to be teniffued at the Exchequer, be afterwards, at any time before the dered or received in payfifth day of April, one thousand seven hundred and fixty fix, re- ment of any ceived or taken, or pafs or be current to any receiver or collector of the publick in Great Britain of the customs, excife, or any revenue, fupply, taxes, before aid, or tax whatsoever, due or payable to his Majefty, his heirs, 5 April, 1766, or fucceffors, or at the receipt of the Exchequer, from any fuch receiver or collector, or from any other person or persons, bodies politic or corporate, otherwife, or on any other account, than for the discharge and cancelling of such bills, in cafe the fame unless the fhall be in due course or order of payment, before the faid fifth fame be in day of April, one thousand seven hundred and fixty fix; nor fhall courfe of payany fuch receiver or collector exchange, at any time before the the faid day. faid fifth day of April, one thousand seven hundred and fixty fix, for any money of fuch revenues, aids, taxes, or fupplies, in his hands, any Exchequer bill or bills which fhall have been iffued as aforefaid by virtue of this act; nor shall any action be maintained against any fuch receiver or collector, for neglecting of refufing to exchange any fuch bill or bills for ready money before the faid fifth day of April, one thousand seven hundred and fixty fix; any thing in the faid act made in this present feffion of parliament, intituled, An act for continuing and granting to his Majefty certain duties upon malt, mum, cyder, and perry, for the fervice of the year one thousand feven hundred and fixty four, or this act, contained to the contrary notwithstanding.

ment before

V. And be it further enacted by the authority aforefaid, That The faid bills all fuch Exchequer bills, together with the intereft and charges to be repaid incident to or attending the fame, fhall be and are hereby out of the first charged and chargeable upon, and fhall be repaid or borne by thall be grant or out of, the first aids or fupplies which fhall be granted by ed for the year. parliament for the service of the year one thousand feven hun- 1766; dred and fixty fix; and in cafe fufficient aids or fupplies for that purpose shall not be granted before the fifth day of April, one thoufand feven hundred and fixty fix, then all the faid Exchequer bills, with the intereft and charges incident to or attending the fame, fhall be and are hereby charged and chargeable upon

fuch

that year.

fuch monies as, at any time or times at or after the faid fifth day of April, fhall be or remain in the receipt of the Exchequer, of or out of the the furpluffes, exceffes, overplus monies, and other revenues, finking fund, if no fupplies compofing the fund commonly called The Sinking Fund (except be granted be- fuch monies of the faid finking fund as fhall then be approfore 5 April of priated to any particular use or uses by any act or acts of parliament in that behalf) and fuch monies of the faid finking fund shall and may be iffued and applied, as foon as the fame can be regularly stated and afcertained, for and towards paying off, cancelling, and discharging, fuch Exchequer bills, intereft, and charges, until the whole of them fhall be paid off, cancelled, and discharged, or money fufficient for that purpose be kept and reserved in the Exchequer, to be payable on demand to the refpective proprietors thereof.

Monies iffued

VI. Provided always, and be it enacted by the authority aforefor that pur- faid, That whatever monies fhall be fo iffued out of the faid pofe out of the finking fund, furpluffes, exceffes, overplus monies, or other revenues comto be replaced pofing the finking fund, fhall from time to time be replaced out of the first by and out of the first supplies to be then after granted in parfupplies after. liament; any thing herein contained to the contrary notwithstanding.

fuch of the faid

be tendered

them before the faid 5 April, with the intereft due thereup

on;

Bank to exVII. And it is hereby further enacted by the authority aforechange for faid, That the faid governor and company of the bank of Engready money, land, and their fucceffors, fhall and are hereby required to exbills, as thall change for ready money, from time to time, all fuch of the faid Exchequer bills as fhall, at any time or times before the faid fifth day of April, one thousand seven hundred and fixty fix, be tendered or produced to them, or their cafhier or cashiers, for that purpose, by any person or perfons; and shall pay or cause to be paid to fuch perfon or perfons, in ready money, the fum for which every fuch bill, fo tendered or produced, was iffued, together with the intereft, after the faid rate of three pounds per centum per annum, which shall be then due thereupon; and fhall exchange, in manner as aforefaid, fuch of the faid bills as fhall have been, from time to time, paid away or circulated by or on the behalf of the faid governor and company, or their and no allow-fucceffors, and fhall before the said fifth day of April, one thousand ance is to be feven hundred and fixty fix, be tendered or produced as aforemade to the faid, as often as fuch cafe fhall happen; and the faid governor and company, or their fucceffors, or their agents or fervants, fhall not be intitled to or receive any premium, rate, or allowance whatsoever, for or in respect of the exchanging or circulating the faid Exchequer bills; any thing herein, or in any other act of parliament to the contrary notwithstanding.

bank for the fame.

Bank refufing to difcharge fuch bills,

VIII. And be it further enacted by the authority aforefaid, That in cafe the faid governor and company of the bank of England, or their fucceffors, or their cashier or cashiers, shall neglect or refuse to exchange any fuch Exchequer bill or bills for ready money as aforefaid, contrary to the true intent and meaning of this act, upon demand thereof made at their chief office within the city of London, for the space of twenty four

hours,