iffued to the

Further fealed land, and their fucceffors, have hereby power, from time to bills may be time, to iffue out bank bills under their common feal, not exmount of the ceeding in principal the amount of the fums of money which fhall be called in by them, or paid, from time to time, upon fuch contracts or agreements, as aforefaid, (over and above the fum which they have already liberty to iffue in fuch bank bill or bills, by any former act or acts of parliament in that behalf;) any law or ftatute whatsoever to the contrary notwithstanding.

contracts.

Bank may call in money from

their mem

bers, for circulating, &c,

Monies fo

called in may be made part of the capital ftock.

All rules, &c.

relating to the to be extend ed to the fame fo enlarged.

capital stock,

Bank continu

ed till all the Exchequer bills be dif

charged.

XVIII. And be it enacted by the authority aforefaid, That it fhall and may be lawful for the faid governor and company of the bank of England, and their fucceffors, for the better circulating the Exchequer bills to be made out in pursuance of this act, or other their neceffary occafions, to call in, or direct to be paid unto the faid governor and company, and their fucceffors, from and by the respective members of the faid company for the time being proportionally, according to their respective interefts in the fund or capital ftock of the faid governor and company, any fum or fums of money, which the faid governor and company in a general court, from time to time, fhall think neceffary for the faid circulation, or such other neceffary occafions, and fhall accordingly order to be called in; which monies shall be called in upon fuch notices, and in fuch manner, and shall be answered and paid by the members under such penalties as are directed and prescribed by any other act or acts of parliament for any other monies thereby authorized to be called in by the faid governor and company in purfuance thereof; and that all exe→ cutors, adminiftrators, guardians and trustees, fhall be indemnified in paying the fame; and that it fhall be lawful for the faid governor and company, from time to time, in a general court, to declare, order, and make the faid money fo called in, or or dered to be called in, as aforefaid, or any part thereof, and from fuch time or times as fuch general court shall order and direct, to be added to the capital ftock of the faid governor and company; and that then, and from thenceforth, fuch monies fhall be deemed and taken, to all intents and purpoíes, as and for part of the capital ftock of the faid governor and company, and the capital ftock of the faid governor and company thall be proportionably enlarged thereby; any thing in the faid laft mentioned act, or any other law, ftatute, or provifion to the contrary thereof in any wife notwithstanding.

XIX. And be it enacted, That all and every the privileges, exemptions and advantages, and alfo all the rules, reftrictions and directions, and other matters and things contained in any former act or acts of parliament now in force, concerning the capital ftock of the faid governor and company, fhall be extended to their capital stock fo to be enlarged or increafed, as aforefaid.

XX. And it is hereby enacted and declared, That the governor and company of the bank of England, and their fucceffors, shall continue a corporation, with all the powers, privileges and advantages thereunto belonging, until all the faid Exchequer bills, issued, and to be iffued by virtue of the faid other acts, or

any

any of them, and by virtue of this prefent act, fhall be discharged and cancelled; any thing in this or the said other acts contained to the contrary notwithstanding.

be understocd

XXI. Provided always, and it is hereby further enacted, After all the That from and after the complete paying off, and difcharging bils, &c. are all the principal and intereft, which fhall be due on all the faid difcharged, the Exchequer bills, iffued and to be iffued in pursuance of this and feveral iubfithe faid other acts, and cancelling all the fame bills, and full fa- dies, &c. fhall tisfaction made of all arrearages (if any fhall be then due) as to be redeemwell of or upon the faid allowance after the rate of three pounds ed by parlia per centum per annum, as alfo of or upon the faid yearly fums ment. of forty five thousand pounds, and eight thousand pounds, or either of them; then and not till then, the several subsidies, duties, and revenues, by this and the faid other acts, or any of them, fettled or appropriated, as well for payment of the faid intereft of two pence per centum per diem, and the faid allowance after the rate of three pounds per centum per annum, and the faid yearly fums of forty five thousand pounds, and eight thoufand pounds, as alfo for raising the faid yearly fum of two hundred and feventy thousand nine hundred ninety nine pounds, and feven thillings, and every of them, fhall be understood to be redeemed by parliament, and shall not be iffued, paid or applied to any use, intent or purpose whatsoever, without the authority of parliament.

without re

XXII. And it is hereby declared to be the true intent and The faid fubfimeaning of this act, That the fame fubfidies, duties, and reve- dies, &c. may nues, so settled and appropriated in relation to the faid Exchequer be redeemed, bills, may be redeemed from the faid governor and company, deeming the oand their fucceffors, in the manner and form prescribed in the ther funds. foregoing provifo or condition, without redeeming any other the funds or fecurities by the said act of the feventh year of her Majesty's reign, or by any other of the faid acts relating thereunto, fettled or made payable to the faid governor and company, and their fucceffors; any thing herein, or in any other act or acts of parliament contained, or any other matter or thing whatfoever, to the contrary thereof in any wife notwithstanding.

XXIII. And whereas by the faid act made in the feventh year of 7 Annæ, c. 7. her Majefty's reign, it was declared and enacted, That the faid governor and company of the bank of England, and their fucceffors, for ever, fhould continue and be one body corporate and politick, and Should for ever have, receive and enjoy the intire yearly fund of one bundred thousand pounds therein mentioned, out of certain rates and duties of excife therein defcribed, and fuch abilities, capacities, powers, authorities, franchifes, exemptions, privileges, profits, and advantages, as are therein expreffed, fubject nevertheless to a power and condition of redemption, in that at contained in that behalf: 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 thirty-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 feveral fums, a

D4

mount

Provifo in

mounting to fixteen hundred thousand pounds, therein mentioned, without any deduction, difcount, or abatement whatsoever, to be made out of the faid fum of fixteen hundred thousand pounds, or any part thereof, 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 unto them upon all fuch tallies, Exchequer-orders, or parliamentary funds, which the faid governor and company, or their fuccefors, should have remaining in their hands, or be entitled to, at the time of fuch notice to be given, as aforefaid, (such funds, for redemption whereof other provifion was made in the fame act, only excepted) then, or in fuch cafe, and not till then, the faid yearly fund of one hundred thoufand pounds fhould ceafe and determine, as by the fame act (relation being thereunto bad) may more plainly appear: now for the better encouragement of the faid governor and company of the bank of England, to perform the fervice of circulating all the Exchequerbills, according to the true meaning of this act, it is hereby declared and enacted by the authority aforefaid, That the faid re7 Ann. for de- cited provifo or condition for determining the faid yearly fund termining the of one hundred thousand pounds, upon twelve months notice, yearly fund and corpora- after the faid first day of August one thoufand feven hundred tion, on twelve thirty two upon fuch payments, as aforefaid, fhall be, and is months notice hereby repealed and made void; and that the faid governor and after 1 August 1732, repealed. Company of the bank of England, and their fucceffors, for ever, fhall remain, continue and be one body corporate and politick, by the name of the governor and company of the bank of England, and fhall for ever have, receive and enjoy the faid entire yearly fund of one hundred thoufand pounds out of the faid rates and duties of excife, together with a perpetual fucceffion, and all abilities, capacities, powers, authorities, franchifes, exemptions, privileges, profits and advantages whatfoever, whereunto the governor and company of the bank of England are, or before the making of this act were entitled by any act or acts of parliament, grants or charters whatsoever, now in force; fubject nevertheless to fuch reftrictions, rules, directions, agreements, matters and things, as in the faid acts and charters, or any of them, now in force are contained or prefcribed; and alfo, fubject to the power and condition of redemption, hereafter in this act contained in this behalf.

On 12 months notice after

1 Aug. 1742 and on pay

ment to the bank of

XXIV. Provided always, and it is hereby further enacted by the authority aforefaid, That at any time upon twelve months notice after the first day of Auguft, which fhall be in the year of our Lord one thoufand feven hundred forty two, and not before, and upon repayment by parliament to the faid governor 1,600,000l.&c, and company of the bank of England, or their fucceffors, of the the yearly faid fum of fixteen hundred thoufand pounds, without any deduction, discount or abatement whatfoever, and upon payment to the faid governor and company, and their fucceffors, of all arrears of the faid one hundred thoufand pounds per annum, and all the principal and intereft money which fhall be owing unto them upon all fuch tallies, Exchequer orders, or parlia

fund of

100,000l. to ceale.

mentary

mentary funds, which the faid governor and company, or their fucceffors, fhall have remaining in their hands, or be entitled to at the time of fuch notice to be given, as aforefaid (fuch funds, for redemption whereof other provifion is made in the faid former acts, or any of them, or in this act, always excepted) then and in such case, and not till then, the faid yearly fund of one hundred thousand pounds fhall ceafe and determine. XXV. Provided alfo, and it is hereby enacted, That from After redempand after fuch redemption of the faid one hundred thousand tion, &c. corpounds per annum, and from and after redemption fhall alfo be poration to made by parliament of the annuity of one hundred and fix determine. thousand five hundred and one pounds, thirteen fhillings and five pence per annum, by the faid act of the feventh year of her Majesty's reign, fettled and payable to the faid governor and company, in the manner therein mentioned, and from and after redemption fhall likewise be made of the fund established by this act, in relation to the faid Exchequer bills, then, and not till then, the faid corporation of the governor and company of the bank of England fhall ceafe and determine, but till then, the faid governor and company fhall continue a corporation, and fhall have and enjoy all the powers and privileges they arenow entitled unto, as aforefaid.

XXVI. And be it further enacted and declared, That this Publick act. act fhall be esteemed in all courts of law and equity to be a

publick act, and notice thereof fhall be taken as fuch by all

courts and perfons accordingly.

XXVII. And whereas by an act of parliament made and paffed Recital of the in the first year of her Majefty's reign, intituled, An act for the act 1 Annæ, better fupport of her Majefty's houthold, and of the honour ftat. 1. c. 7. and dignity of the crown, it was enacted and declared, That the hereditary rates and duties of excife upon beer, ale, and other liquors, which were granted to the crown in the twelfth year of the reign of his late majesty King Charles the Second, and the duties of excife upon 12 Car. c. 23. beer, ale, and other liquors, by the faid act of the first year of her Majefty's reign granted to her Majefty for the term of her life (fubject nevertheless to fuch weekly payments or incumbrances as were thereby appointed to be charged upon, and payable out of the feveral duties of excife before mentioned) and the revenue of the general letter office or poft office, and divers small branches of her Majesty's revenues therein enumerated, and the monies arifing by the further fubfidy of tunnage and poundage, and other duties upon wines, goods, and merchandizes, by the faid act granted or made payable to her Majefty during her life, fhould be for the fupport of her Majesty's boufbold, and of the honour and dignity of the crown; and in the faid act feveral provifions are made to refrain granting or aliening the revenues aforefaid, or any of them: fince which time the revenues of firstfruits and tenths of the clergy (being part of the faid small branches) have been otherwife difpofed by or in pursuance of an act of parliament 5 Ann. c, 24. in that behalf; and the revenue arifing in the general letter office or poft office hath been fince regranted and increased, and part of that revenue fo regranted and increased hath been appropriated to raise

money

[1713. Ann. c, 10. money for the publick ufe, and other part thereof is applicable to the Support of her Majesty's faid houfhold, and the honour and dignity of the crown, pursuant to another act of parliament made for those ends and purposes, as by the faid refpective acts, relation being thereunto had, may more fully appear: and whereas by occafion of several extraordinary expences fince the faid act of the first year of her Majefty's reign, divers arrears of falaries, wages, diet-monies, and other allowances, and fundry debts for emptions, provifions, and other causes, have incurred, and grown due to her Majesty's fervants, tradesmen, and others, and do now remain unfatisfied, which debts and arrears do amount to a very confiderable fum in the whole, and are properly chargeable upon the faid branches or revenues which were appointed for the fupport of her Majesty's houfbold, and of the honour and dignity of the crown, as aforefaid: now her Majefty's faid most dutiful and loyal fubjects, the commons of Great Britain in parliament allembled, being defirous that her Majesty, in the administration of her civil government, may not remain under any difficulties, in respect of the arrears or debts contracted, as aforefaid, and being therefore defirous that a fum not exceeding five hundred thousand pounds may be raifed, by fuch ways and means, as in this act are authorized or appointed, the better to enable her Majefty to discharge the faid debts and arrears, do, for that end and purpose, most humbly pray that it may be enacted; and be it enacted by the authority aforefaid, Her Majefty, That it fhall and may be lawful to and for the Queen's moft by letters pa- excellent majesty, by letters patents, to be made and paffed, at point 35,000l. any time or times, on this fide or before the five and twentieth per annum for day of December, in the year of our Lord one thousand seven 32 years, to be hundred and thirteen, under the great feal of Great Britain, to iffued out of limit, appoint, fet, and appropriate, any fum not exceeding

tents, may ap

the Exche

quer,

of the crown,

&c,

"

thirty five thousand pounds per annum, to be iffued or paid by weekly or quarterly payments, as her Majefty fhall therein direct, at the receipt of the Exchequer, for and during any term not exceeding thirty two years, to commence and be reckoned from the feast of Saint Michael the Arch-angel, in the year of chargeable on our Lord one thousand seven hundred and thirteen; and that the revenues the faid yearly fum fhall be charged upon, and payable out of all the faid revenues, duties, and branches, which were appointed for the fupport of her Majesty's houfhold, and the honour and dignity of the crown, as aforefaid, as well those which are hereditary in the crown, as those which were granted during her Majefty's life, as aforefaid, and every of them, during all the faid term of thirty two years, in cafe her Majefty (whom God preferve) fhall fo long live; and in cafe of her Majesty's demife within the faid term, then the faid yearly fum, not ex-ceeding thirty five thousand pounds per annum, thall be charged upon, and be paid and payable out of the hereditary revenues, duties, and branches laft before mentioned, for and during fo long time as fhall be then to come and unexpired of and in the faid abfolute term, not exceeding thirty two years, to be recand prefera- koned from the time aforefaid; all which payments shall be made with. preference to all other payments whatsoever, which

ble to all

other payments.

fhall