The allowan

ces of 31. per fhall be paid

cent. per ann.

to the bank weekly.

thousand pounds herein after-mentioned, from time to time arifing, are and fhall be one general or aggregate fund and security for fatisfying and paying all monies which are, and from time to time fhall be incurred and grown due or payable for intereft, after the rates of two pence per centum per diem, and for the faid allowance of three pounds per centum per annum, for all the Exchequer-bills abovementioned, or fuch of them as fhall from time to time be uncancelled or undischarged; and all the monies which are or shall be grown due, from time to time, upon the faid fums of forty-five thousand pounds per annum, and eight thousand pounds per annum, for fo long time as those yearly fums are to continue or be payable; and for fupplying to his Majefty during his life (which God long preferve) the yearly fum of one hundred and twenty thousand pounds, from the feaft of Saint Michael the archangel in the year of our Lord one thoufand seven hundred and fifteen, by quarterly payments, at the -four moft ufual feafts of the year, by equal portions, or within ten days after every fuch feaft-day, for the fervice of his Majefty's houfhold and family, and other his neceffary expences and occafions; and alfo for fupplying the further yearly fum of fiftyfour thousand fix hundred pounds for ever, by like quarterly payments, to commence from the faid feast of Saint Michael the archangel in the year of our Lord one thousand seven hundred and fifteen, in order to raise any fum or fums of money thereupon, not exceeding nine hundred and ten thousand pounds, for publick fervices, and for making good any fuch deficiencies as fhall or may happen, as aforefaid, and likewife for or towards furnishing the faid yearly fum of two hundred and feventy thou fand nine hundred ninety-nine pounds and feven fhillings, for paying off and cancelling the faid bills, all which is to be done in fuch order, manner and form, as are herein after prescribed: and that fuch of the faid fubfidies, duties, revenues, additional revenues, furplus monies, remains and arrears, as are already commenced or arifen, and the refidue thereof, as they fhall arife and take effect, fhall be and are by this act appropriated, and fhall be applied thereunto accordingly; any other act or acts of parliament, or other matter or thing whatfoever to the contrary in any wife notwithstanding.

XVI. And it is hereby declared and enacted by the authority aforefaid, That the faid allowances, after the rate of three pounds per centum per annum, and all arrears thereof, fhall from time to time be paid and fatisfied at the receipt of Exchequer to the faid governor and company and their fucceffors, weekly, or as foon as the fame can be fatisfied, out of the monies of the faid general or aggregate fund arifing by the faid duties and revenues thereof, already commenced, or hereafter to commence, or come in, as aforefaid, or by any of them, fo as by fuch weekly or other payments, the whole of the faid allowances, after the rate of three pounds per centum per annum, due to the faid governor and company, and their fucceffors, at the end of each quarter (reckoning the quarter to terminate at the four moft

6

ufual

ufual feafts of the year respectively) be not exceeded; and that And the 2d. the commiffioners of the treafury, or any three or more of them, per cent. per diem, to fuch or the lord treasurer for the time being, fhall, and they are hereperson as by impowered and directed, out of the monies of the faid gene- the treasury ral or aggregate fund, arifing by the faid duties and revenues intruft, by already commenced, or hereafter to commence, or come in, as way of imaforefaid, or by any of them, to iffue unto such person or perpreft, &c. fons, as the faid commiffioners of the treasury, or lord treasurer do or fhall think fit to intruft in that behalf, and upon fecurity given or to be given, to the good liking of the faid commiffioners of the treasury, or lord treasurer, fuch fum and fums of money, by way of impreft, and upon account, from time to time, and by fuch proportions at a time, as the fame commiffioners or lord treasurer shall find neceffary for discharging all the interest, after the rate of two pence per centum per diem, which is and shall from time to time be due or demandable upon the faid Exchequer-bills made forth upon the acts aforefaid, or any of them, the faid intereft to be discharged at such time, and in fuch manner and form, as by the faid former acts, or any of them, were prescribed in that behalf.

lowances, then

XVII. And be it further enacted by the authority aforefaid, After fatisfyThat after paying or referving fufficient to pay or fatisfy, from ing the faid altime to time, so much as is or fhall be grown due or demand- the 45,000l. able for the faid allowance of three pounds per centum per annum, and 8000l. and intereft of two pence per centum per diem, then the monies per ann. to be which are or shall, from time to time, be grown due to the faid paid to the bank. governor and company, and their fucceffors, upon their faid other allowances of forty-five thousand pounds per annum, and eight thousand pounds per annum, during fo long time as those allowances are to continue, as aforefaid, fhall quarterly at the respective days and times before appointed for payment thereof, be paid and fatisfied to the faid governor and company, and their fucceffors, at the receipt of the Exchequer, weekly, or as foon as the fame can be fatisfied, out of the monies of the faid general or aggregate fund, arifing or to arife by the faid duties and revenues already commenced, or hereafter to commence or come in, as aforefaid, fo as by fuch weekly or other payments, the fums to be due to the faid governor and company, or their fucceffors, upon their allowances laft mentioned, at the end of each quarterly day of payment thereof, be not exceeded.

XVIII, And it is hereby enacted, That after paying or re- After that the serving sufficient to pay and fatisfy, from time to time, fo much yearly sum of as is or fhall be grown due or demandable for the faid allow- 120,000l.fhall be paid for the ance of three pounds per centum per annum, and intereft of two civil lift. pence per centum per diem, and the faid allowances of forty-five thousand pounds per annum, and eight thousand pounds per annum, then the faid yearly fum of one hundred and twenty thoufand pounds for the fervice of his Majesty's houshold and family, and other his neceffary expences and occafions, shall grow due and be payable to his Majefty quarterly, from the said feast of Saint Michael the archangel in the year of our Lord one thouN 2

fand

After that, the

54,600l. fhall

be fet apart to answer the

perpetual an

nuities.

fand seven hundred and fifteen, at the four most usual feasts in the year, by equal portions, during his Majefty's natural life, as aforefaid, out of the monies of the faid general or aggregate fund, arifing or to arife by the faid duties or revenues already commenced, or hereafter to come in, as aforefaid; and that the commiffioners of his Majefty's treasury, or lord treasurer, and under-treasurer of the Exchequer, for the time being, shall and may, and they are hereby authorized and required to cause the faid yearly fum of one hundred and twenty thousand pounds to be iffued and applied, weekly, or as foon as the fame can be fatisfied, in the order and courfe aforesaid, for the same services, out of the faid monies of the faid general or aggregate fund, or any of them, fo as by fuch weekly or other payments, the fum of thirty thousand pounds to be due thereupon at the end of each quarter be not exceeded.

XIX. And be it further enacted by the authority aforesaid, yearly fum of That after paying or referving fufficient to pay and fatisfy, from time to time, fo much as is or fhall be grown due or demandable for the faid allowance of three pounds per centum per annum, and the interest of two pence per centum per diem, and the faid allowances of forty-five thousand pounds per annum, and eight thousand pounds per annum, and for or upon the said sum of one hundred and twenty thousand pounds per annum, then the faid fum of fifty-four thousand fix hundred pounds per annum, from the feast of Saint Michael the archangel in the year of our Lord one thousand seven hundred and fifteen, for ever, shall at the faid four ufual feafts in the year, by equal portions, without any deduction or abatement, be feparated and fet apart in the faid receipt of Exchequer, out of the monies of the faid general or aggregate fund, arifing and to arise by the faid duties or revenues already commenced, or hereafter to come in, as aforefaid, and fhall, from time to time, be iffued and applied to answer and fatisfy fuch perpetual annuities as fhall be purchafed thereupon, after the rate of fix pounds per centum per annum, fubject nevertheless to redemption by parliament, according to the true intent and meaning of fuch act or acts of parliament, as is, are, or fhall be paffed, for raifing thereupon any fum or fums of money not exceeding the faid fum of nine hundred and ten thousand pounds, for the fervice of the publick. XX. And it is hereby declared to be the true intent and preferences. meaning of this act, That the faid allowance after the rate of three pounds per centum per annum, and the faid payments for intereft, fhall from time to time take place, and be preferred in point of payment, out of the said general or aggregate fund hereby cftablithed, before the faid yearly fums of forty-five thoufand and eight thoufand pounds, or either of them; and that the faid yearly fums of forty-five thousand pounds, and eight thousand pounds, fhall from time to time take place, and be preferred in point of payment, before the faid yearly fum of one hundred and twenty thousand pounds; and that the said yearly

The feveral

fum

fum of one hundred and twenty thousand pounds fhall from time to time take place, and be preferred in point of payment, out of the faid general fund, before the faid yearly fum of fiftyfour thousand fix hundred pounds; and that the faid yearly fum of fifty-four thousand fix hundred pounds fhall from time to time take place, and be preferred before any fums herein. after mentioned, for making good deficiencies (when any fuch fhall happen) of or in other funds of the faid governor and company, and before the yearly fum herein after mentioned, for cancelling and discharging the faid Exchequer-bills.

XXI. Provided always, and be it enacted by the authority How the defiaforefaid, That after paying or referving fufficient to pay and ciencies fhall fatisfy, from time to time, so much as is or fhall be grown due be made good. or demandable for the faid allowance of three pounds per centum per annum, and intereft of two pence per centum per diem, and the faid allowances of forty-five thoufand pounds per annum, and eight thousand pounds per annum, and for and upon the Taid yearly fums of one hundred and twenty thousand pounds per annum, and fifty-four thoufand fix hundred pounds per annum, then the said deficiency and deficiencies for making good the payments, to be from time to time incurred and grown due, for or upon the faid yearly fums of one hundred thousand pounds, and one hundred and fix thousand five hundred and one pounds thirteen fhillings and five pence, and either of them (when and as often as any fuch fhall happen) fhall from time to time be fatisfied and answered out of the monies of the faid general or aggregate fund, arifing or to arife by the faid duties or revenues already commenced, or hereafter to come in, as aforefaid; and the commiffioners of the treafury, or the lord treasurer, and under-treasurer of the Exchequer for the time being, are hereby authorized and required to cause every fuch deficiency or deficiencies fo happening, to be fatisfied and paid accordingly, with preference to any iffues then to be made for cancelling the faid bills, which deficiencies (if any fuch be) fhall be annually computed at the Exchequer, from the produce of the faid refpective revenues there (to wit) the deficiency of the faid original fund on the first day of June yearly, and the deficiency of the annuity laft mentioned at Michaelmas yearly.

XXII. Provided alfo, and it is hereby enacted, That after How the prinpaying or referving fufficient to pay and fatisfy, from time to cipal money of the Exchetime, fo much as is or fhall be grown due or demandable for quer bills fhall the faid allowance of three pounds per centum per annum, and in- be paid off. tereft of two pence per centum per diem, and the faid fums of forty-five thousand pounds per annum, eight thousand pounds. per annum, one hundred and twenty thousand pounds per annum, and fifty-four thousand fix hundred pounds per annum, and so much as fhall be demandable by virtue of this act, to make good fuch deficiency and deficiencies, as aforefaid, (all which are always to be preferred, as aforefaid) then the faid full and entire yearly fum of two hundred and feventy thousand nine hundred ninety-nine pounds feven fhillings, or fo much thereof,

Overplus of

any year dif

polab'e by par> lament.

as the remainder of the monies of the faid general or aggregate fund, arifing or to arife by the faid duties or revenues already commenced, or hereafter to come in, as aforefaid, fhall from time to time produce for that purpose, fhall be, and is by this act appropriated for paying off all the principal money contained in all and every the faid Exchequer-bills made forth upon the acts aforesaid, or any of them, and for cancelling the fame, until all the faid bills fhall be difcharged and cancelled, and fhall be iffued and applied to and for that use and purpose, in fuch manner as the commiffioners of the treasury, or lord treafurer for the time being, fhall from time to time direct and appoint in that behalf; and that the iffues thereof fhall be made quarterly, or oftner, fo as by the payments within any quarter, the fourth part of the yearly fum laft mentioned for that quarter be not exceeded.

XXIII. Provided alfo, and it is hereby enacted by the authority aforefaid, That in cafe the produce of the faid general or aggregate fund, to arife by all or any the fubfidies, duties and revenues hereby appropriated for all the purposes aforefaid, fhall at the end of any year, reckoning from the faid feaft of SaintMichael the archangel in the year of our Lord one thousand feven hundred and fifteen, exceed all the money due at the end of every fuch year for all the purposes aforefaid, fo that there fhall be an excefs or furplus of the faid general fund, fuch excefs or furplus fhall be difpofable, from time to time, for the publick ufe and fervice by authority of parliament, and not otherwife; any thing herein, or in any other act or acts of parliament contained to the contrary notwithstanding.

Deficiency to XXIV. Provided alfo, and it is hereby enacted by the aube made good thority aforefaid, That in cafe the produce of the faid general or by parliament. aggregate fund, to arife by all or any the fubfidies, duties and revenues hereby appropriated for all the purposes aforefaid, fhall at any time or times appear to be fo deficient, that within any one year, reckoning from the faid feaft of Saint Michael the archangel in the year of our Lord one thousand seven hundred and fifteen, the fame shall not be fufficient to anfwer and fatisfy the said several and refpective purposes to which the fame is hereby intended to be applied, Then and in every fuch cafe, and as often as any fuch deficiency of the faid general fund shall happen, the fame fhall be provided for, anfwered and made good by and out of the next aids to be granted in parliament. XXV. Provided alfo, and it is hereby enacted by the authothe civil lift, rity aforefaid, That if the revenues fettled or appointed for the fhall be part of fervice of his Majefty's houfhold, and of the honour and digthe aggregate nity of his crown, by the late act of parliament of the first year fund. Geo. 1 of his Majefty's reign, intituled, An act for the better fupport of his Majefty's houfhold, and of the honour and dignity of the crown of Great Britain, together with the faid additional revenue of one hundred and twenty thousand pounds per annum, intended by this act to be fupplied, as aforefaid, fhall from the faid feaft of Saint Michael the archangel in the year of our Lord one thou

Överplus of 700,000l. for

stat. 1. c. 1.

fand