·ticular duties on houses, and of or for feveral other duties and reve
mues, called the aggregate fund in that act, and in former as relat-
ing 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 houfes, 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, should be continued, but be difpofable to and for the
feveral and refpective ufes and purposes appointed by that act and fub-
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 raising, collecting, levying, iffuing, paying and ac-
counting for the fame) should be and are thereby appropriated, and
Should be iffued and applied to and for the payment and fatisfaction of
Several yearly and other fums in the faid act particularly expreffed, in
their due courfe 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 thoufand eight hundred
and thirty pounds fifteen fillings 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 excess or furplus which, at the end of every or any quarter
of a year (reckoning the quarters to end at the ufual feaft-day's) 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) should attend the difpofition of parliament,
and be applied according to act or acts of parliament in that behalf,
and not otherwise, And it was thereby declared and enacted, That
any vote or refolution of the house of commons, fignified by the fpeaker
of the faid houfe in writing, and delivered at the publick office of the
faid governor and company, should be deemed and adjudged to be a
Jufficient notice within the words and meaning of the faid act for re-
deeming the faid annuity or allowance of feventy-fix thousand eight
bundred 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 cen-
tum 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 raise 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

B4

here

"

hereafter redeemable in the time and manner thereby prescribed, 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 refpective 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 those 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) fhould 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 fubject to fuch redemption as are thereby prescribed. And by the fame at 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 fhould be an excess or furplus 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 excess 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 Majefly'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 Majesty'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 also to raise monies for fuch proprietors of the faid 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, several other cuftoms, 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 aft: and it was thereby enacted, That yearly and every year, reckoning the first year to begin from the feast of Saint Michael the archangel one thousand seven hundred and feventeen, and from thenceforth for ever (Jubject 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 fhillings ten pence and one fifth part of a penny per annum, by or out of the monies 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 said sum of
feven hundred twenty four thousand eight hundred forty nine pounds
fix fhillings ten pence and one fifth part of a penny, should be comput-
ed 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, impo-
fitions, 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 fbillings ten pence and one
fifth part of a penny per annum, then the monies fo arifing, so 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 fhillings ten pence and one fifth part of a penny per annum,
for and towards the answering and paying all the annuities and pay-
ments by that aft charged or chargeable thereupon; and in cafe all the
monies by that act appointed or appropriated, as aforefaid, fhould 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 so
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 hundred forty nine pounds fix fhillings ten pence and one
fifth part of a penny, for every or any fuch year, should be supplied
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
fhould be granted: and it was thereby enacted, That the excess or fur-
plus, which at the end of every or any quarter of a year (reckoning
the quarters to end at the four most ufual feast days) fhould 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 feven hundred twenty four thousand eight
hundred forty nine pounds fix fillings ten pence and one fifth part of
a penny, over and above fo much as fhall 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 fe-
veral 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 excess
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 faid 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 fishery; as alfo 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 Majesty'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 seven 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 act laft before recited (relation being thereunto had) may likewife more fully appear. And whereas the faid fum, not exceeding two millions 3 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 com→ pany of the bank of England, or called for or required by the commiffioners of your Majefty's treasury, 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 otherwife howfoever; and the faid fum, not exceeding, two millions, mentioned in the faid act relating to the Geo. 1. c. 9. South Sea company, or any part thereof, was not advanced by that company, or called for or required by the commiffioners of your Majefy's treasury, fo that the faid duties, revenues and incomes, comprehended 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 act relating to that company or otherwise bowfoever. And whereas we your Majefty's faid dutiful and loyal fubjects the commons of Great Britain in parliament assembled (pursuant to the claufes contained in the act first 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 thoufand eight hundred and thirty pounds fifteen. Shillings; and ordered the speaker of the faid houfe, on or before Lady-day one thousand seven hundred and eighteen, to fignify the faid refolution in writing to the faid governor and company, which was fignified accordingly. And whereas by computation as many of the faid. exchequer bills as do amount to the faid fum of two millions five bundred 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 undif charged 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

3

of

of one penny per centum per diem, amount in the whole to one bundred and fifteen thousand seven hundred seventy nine pounds thirteen fillings and four pence per annum, or thereabouts, except fo much thereof as is javed and may be abated fer bills, from time to time, in the exchequer or in the hands of recicers or collectors of any taxes, aids or revenues payable to your Majejły; and it being apparently just and neceffary with regard to the publick, that the said prefent coft and expence, and the faid national debts and incumbrances be leffened as far as conveniently may be, We your Majesty's faid dutiful and loyal fubjects, for that end and purpofe have refolved, That the furplus monies herein after particularly directed and appointed, and a further fum not exceeding five hundred thousand pounds, to be raised by way of a lottery, and another further fum, not exceeding five hundred and twenty thousand pounds, to be raised by way of loan, be applied towards paying off the principal and intereft borne upon the faid bills, and for cancelling the bills whereof the principal and interest shall be fo paid off; and that fo many of the faid exchequer bills as shall remain undifcharged and uncancelled by or with the money Jo to be applied, fhall be circulated and exchanged in the manner hereafter in this act appointed in that behalf: now we your Majesty's faid dutiful and loyal fubjects the commons of Great Britain in parliament affembled, for the better and effectual accomplishment of their defires and intentions in the premiffes, and that your Majefty and your fubjects may be eased of the burden of the faid national debts and incumbrances as faft as is confiftent with honour and juftice, do moit humbly pray your Majefty, That it may be enacted; and be it enacted by the King's most excellent majesty, by and with the advice and confent of the lords fpiritual and temporal, and commons, in this present parliament affembled, and by authority of the fame, That the fum of one hundred ninety fix thousand four hundred The feveral forty four pounds eighteen fhillings three pence half penny; of the aggrefurplus monies which remained in the exchequer at Michaelmas one thousand gate fund, &c. feven hundred and eighteen for the overplus of the faid parti- to be applied cular duties on houses and other duties and revenues compre- towards rehended in the faid fund, commonly called the aggregate fund, deeming exchequer bills. appointed to be referved for difpofition of parliament as aforefaid, being over and above the excefs of the civil lift fund for three years, ended at the same feast day; and that all the overplus monies of the civil lift fund for three years ended at Michaelmas one thousand seven hundred and eighteen, which overplus is also appointed to be reserved for difpofition of parliament as aforefaid; and the fum of nineteen thousand five hundred seventy seven pounds and ten fhillings, which remained in the exchequer at Michaelmas one thousand feven hundred and eighteen, for the furplus or overplus of the fund, commonly called the fund of the South Sea company, appointed to be referved for dif pofition of parliament as aforefaid; and the fum of one hundred ninety thoufand four hundred thirty fix pounds fifteen fhillings eleven pence and nine twentieth parts of a penny, being the excess or furplus for the year ended at Michaelmas one thousand feven

hundred