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 thoufand eight hundred forty nine pounds fix fhillings ten pence and one fifth part of a penny, should 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 customs, 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 fhillings ten pence and one fifth part of a penny per annum, then the monies fo arising, 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 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 faid cuftoms, 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 fhillings 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 thoufand eight hundred forty nine pounds fix fhillings ten pence and one fifth part of a penny, for every or any such year, should be supplied and made good, from time to time, by or out of the first aid or supply to be granted in parliament next after fuch deficiency fhould appear, and fhould from time to time be transferred thereunto, as foon as the fame hould 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 feven 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 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 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 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

t

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 said 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 should 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 last 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 company of the bank of England, or called for or required by the commiffioners of your Majesty'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 commiffioners of your Majefty'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 whatfoever in respect of the fame, by virtue of the faid act relating to that company or otherwife how 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 should be given to the faid governor and company of the bank of England, That the houfe 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 hillings; and ordered the speaker of the faid houfe, on or before Lady-day one thousand feven 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 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 centuri per annum, and by the faid growing intereft

of

*

of one penny per centum per diem, amount in the whole to one hundred and fifteen thousand feven hundred seventy nine pounds thirteen Shillings and four pence per annum, or thereabouts, except fo much thereof as is Javed and may be abated for bills, from time to time, in the exchequer or in the hands of receivers or collectors of any taxes, aids or revenues payable to your Majefty; and it being apparently just and neceffary with regard to the publick, that the faid prefent cofi and expence, and the said national debts and incumbrances be leffened as far as conveniently may be, IVe your Majefty's faid dutiful and loyal Jubjects, for that end and purpose 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 Jo paid off; and that so many of the faid exchequer bills as shall remain undifcharged and uncancelled by or with the money fo 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 eafed of the burden of the said national debts and incumbrances as fast as is confiftent with honour and juftice, do most humbly pray your Majefty, That it may be enacted; and be it enacted by the King's moft excellent majefty, 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 said fund, commonly called the aggregate fund, deeming exappointed to be referved for difpofition of parliament as afore- chequer bills. faid, being over and above the excefs of the civil lift fund for three years, ended at the fame feast day; and that all the overplus monies of the civil lift fund for three years ended at Michaelmas one thousand feven hundred and eighteen, which overplus is alfo appointed to be referved 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 thoufand 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 difpofition of parliament as aforefaid; and the fum of one hundred ninety thousand four hundred thirty fix pounds fifteen shillings eleven pence and nine twentieth parts of a penny, being the excess or furplus for the year ended at Michaelmas one thousand feven

hundred

3 Geo. 1. c. 8. 3 Geo. I. C. 9. 3 Geo. 1. c. 7.

§ Geo. I. c. 8,

hundred and eighteen, upon the yearly fund of seven hundred twenty four thoufand eight hundred forty nine pounds fix fhillings ten pence and one fifth part of a penny, commonly called the general fund, likewise appointed, as aforefaid, to be referved for the difpofition of parliament (over and above the fum of one hundred and thirty thousand pounds, which is hereafter in and by this act directed to be referved towards making good the half yearly payment on the annuities charged on the faid general fund for the half year ending at Christmas one thoufand feven hundred and eighteen) and all the excefs or overplus monies, which within and for the half year to end at Lady-day one thousand seven hundred at. I nineteen, fhall arife upon the feveral rates, duties, revenues and incomes, commonly called the aggregate fund, the South Sea company's fund, and the general fund before mentioned, every or any of them, which by the faid acts of the third year of his Majefty's reign, were feverally referved and intended to be referved, for difpofition of parliament, fhall by force and virtue of this act, be applied (fo far as the monies of all the said several furpluffes, exceffes or overpluffes will extend) towards redeeming the faid annuity or allowance of feventy fix thoufand eight hundred and thirty pounds fifteen fhillings per annum, and to and for the fatisfying and difcharging so much as the fame will extend to fatisfy and discharge of the principal monies contained in the faid exchequer bills, and the intereft due or to be due upon the fame, according to the direction and true meaning of this act herein after specified.

Money fhall be iffued for payment of the half yearly annuities charged on the general fund. Money to be iffued to fatisfy the annuities for one quarter, to end at Lady-day 1719. Afterwards thofe annuities to be paid half yearly. Treafury at Lady-day 1719, to caufe all the furpluffes for that half year to be computed. After Lady-day 1719. 20000l. yearly to be the fund for answering the annuities of 41. per centum, to the contributors in this lottery. Till redemption by parliament. Any perfons may be contributors. Times of payment. Fortunate tickets to be printed. Forging or counterfeiting tickets felony. Managers to enter fortunate tickets in a book, and tranfmit it into the exchequer; and a duplicate to the cashier of the bank, &c. Perfons named in the faid book entitled to an annuity of 41. per centum, for their respective principal sums, payable half yearly. First payment at Mich. 1719. Guardians may contribute for infants. Annuities tax free. Redeemed 13 Geo. 1. C. 3.

XXII. And to the end all the annual and other payments, which by the faid first recited act were charged upon the faid duties, revenues and incomes, called the aggregate fund (other than and except fuch payments, as from and after Lady-day one thousand seven hundred and nineteen might incur for or upon the said allowance of feventy fix thoufand eight hundred and thirty pound fifteen fhillings per annum, hereby intended to be redeemed, and other than and except fuch other fums of money and payments as are already fatisfied and discharged, or are by this act intended to be reduced or faved to the publick) may, together with the faid yearly fund, not exceeding twenty thoufand pounds per annum, be well and fufficiently fecured, and

may

fund continued for ever.

1

may respectively obtain their due courfe of payment, with fuch preferences as by the faid former act, and this present act, are appointed in that behalf; it is hereby further enacted and declared by the authority aforefaid, That all the faid particular The duties of duties on houses, and all the faid other rates, duties, revenues the aggregate and incomes, which by the said first recited act of the third year of his Majesty's reign were fettled for answering the respective payments therein mentioned (all which are by this act deno- 3 Geo. I. c. 8. minated to be the aggregate fund, as aforefaid) and every of them, are and fhall be continued, and be paid and payable to his Majesty, his heirs and fucceffors for ever, and shall be raised, levied, collected and brought into the exchequer of England, by and according to fuch rules, methods and directions, and with fuch drawbacks, repayments and allowances, and under fuch penalties, forfeitures and disabilities, as are prescribed in and by the refpective act and acts of parliament now in force, or any articles, claufes, matters or things therein contained, or thereby referred unto, for raifing, levying or bringing in the fame, as fully and effectually as if the fame acts, articles, claufes, matters and things, and every of them, were repeated and reenacted in the body of this prefent act; nevertheless all the monies arifing thereby into the faid receipt of exchequer, from and after the feast of the annunciation of the bleffed Virgin Mary one thousand seven hundred and nineteen, and all the monies then remaining in the faid receipt, of the fame rates, duties, revenues and incomes, fhall be difpofeable to and for the several and respective ufes and purposes by this or the faid first recited act appointed or intended (other than and except, as aforefaid)

and subject to the several provifoes of redemption herein con- Redeemable tained; any former law, ftatute, provifion, reftriction, claufe by parliament. or claufes, matters or things whatsoever to the contrary notwithstanding.

All the monies to be entred in a book. The aggregate fund appropriated. Penalty on officers mifapplying the monies. How the monies thall be iffued and applied to the bank, &c. 120,000l. for his Majefty during life. Provifo for the deficiencies of 116,573 l. 12 S. Deficiencies to be made good by parliament. The annuities of 88,751 1. 7 s. and 10d. half penny, and 100,000l. per annum payable to the bank, redeemable. On fix months notice to the bank, and repayment, annuities to cease. After redemption of the feveral annuities, aggregate fund to be redeemed. See 13 Geo. 1. c. 3. fect. 1. Till the lottery annuities are redeemed, bank to employ a chief cashier and accountant general. This annuity a perfonal eftate. The principal monies of thefe annuities to be deemed a capital ftock, and affignable. No stamp duty on transfers, &c. No fee for paying thefe annuities. The powers of 3 Geo. 1. c. 8. continued. The furpluffes of the aggregate fund, &c. made liable to fatisfy the loans hereafter mentioned. Further loan for difcharging exchequer bills. Treafury every quarter to enter in a book a juft account of the feveral furpluffes for the preceding quarters. Another book for entry of orders of loan. 520,000l. may be advanced at 51. per centum. Money lent tax-free. Tallies of loan to be ftruck, &c. No fee for regiftring, or undue preference. Tallies dated the fame day, no undue preference. Orders affignable. All the monies of the feveral funds arisen before 25 March 1719. to be applied towards paying off and cancelling exchequer bills. Notice to be affixed on the royal exchange, and published in the London Gazette, of

the