Further sealed land, and their successors, have hereby power, from time to bills may be time, to issue out bank bills under their common feal, not exmount of the ceeding in principal the amount of the fums of money which

ifsued to the

contracts.

shall be called in by them, or paid, from time to time, upon such contracts or agreements, as aforesaid, (over and above the sum which they have already liberty to issue in such bank bill or bills, by any former act or acts of parliament in that behalf;) any law or statute whatsoever to the contrary notwithstanding.

XVIII. And be it enacted by the authority aforesaid, That it Bank may call in money from shall and may be lawful for the faid governor and company of their mem- the bank of England, and their successors, for the better circubers, for cir- lating the Exchequer bills to be made out in pursuance of this culating, &c. act, or other their necessary occasions, to call in, or direct to be paid unto the faid governor and company, and their fuccessors, from and by the respective members of the said company for the time being proportionally, according to their respective interests in the fund or capital stock of the said governor and company, any fum or fums of money, which the faid governor and company in a general court, from time to time, shall think neceffary for the faid circulation, or such other necessary occasions, and shall 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 pursuance thereof; and that all executors, administrators, guardians and trustees, shall be indemnified in paying the same; and that it shall be lawful for the faid governor and company, from time to time, in a general court, to declare, order, and make the faid money so called in, or ordered to be called in, as aforesaid, or any part thereof, and from fuch time or times as such general court shall order and direct, to be added to the capital stock of the faid governor and company; and that then, and from thenceforth, such monies shall be deemed and taken, to all intents and purposes, as and for part of the capital stock of the faid governor and company, and the capital stock of the faid governor and company shall be proportionably enlarged thereby; any thing in the faid last mentioned act, or any other law, statute, or provision to the contrary thereof in any wife notwithstanding.

Monies fo

called in may be made part of the capital stock.

All rules, &c.

XIX. And be it enacted, That all and every the privileges, exrelating to the emptions and advantages, and also all the rules, reftrictions and capital stock, to be extend. directions, and other matters and things contained in any former ed to the fame act or acts of parliament now in force, concerning the capital so enlarged. stock of the said governor and company, shall be extended to their capital stock so to be enlarged or increased, as aforesaid.

Bank continu. ed till all the Exchequer bills be difcharged.

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 said Exchequer bills, issued, and to be issued by virtue of the faid other acts, or

any

any of them, and by virtue of this present act, shall be discharged and cancelled; any thing in this or the faid 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 discharging bils, &c. are all the principal and interest, which shall be due on all the faid difcharged, the Exchequer bills, issued and to be issued in pursuance of this and several subsithe said other acts, and cancelling all the fame bills, and full fa- dies, &c. shall tisfaction made of all arrearages (if any shall 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 also of or upon the faid yearly sums 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 said other acts, or any of them, fettled or appropriated, as well for payment of the said interest of two pence per centum per diem, and the faid allowance after the rate of three pounds per centum per annum, and the said yearly sums of forty five thousand pounds, and eight thoufand pounds, as also for raising the faid yearly sum of two hundred and seventy thousand nine hundred ninety nine pounds, and seven shillings, and every of them, shall be understood to be redeemed by parliament, and shall not be issued, 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 subsimeaning of this act, That the same subsidies, duties, and reve- dies, &c. may nues, so settled and appropriated in relation to the said Exchequer be redeemed, bills, may be redeemed from the faid governor and company, deeming theo. and their successors, in the manner and form prescribed in the ther funds. foregoing proviso or condition, without redeeming any other the funds or securities by the said act of the seventh year of her Majesty's reign, or by any other of the said acts relating thereunto, fettled or made payable to the said governor and company, and their successors; 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 att made in the seventh year of 7 Anne, c. 7. her Majesty's reign, it was declared and enacted, That the faid governor and company of the bank of England, and their fuccessors, for ever, should continue and be one body corporate and politick, and hould for ever have, receive and enjoy the intire yearly fund of one hundred thousand pounds therein mentioned, out of certain rates and duties of excise therein described, and fuch abilities, capacities, powers, authorities, franchises, exemptions, privileges, profits, and advantages, as are therein expressed, subject nevertheless to a power and condition of redemption, in that alt contained in that behalf: and it qwas thereby provided and enacted, That at any time upon twelve months notice after the first day of August, 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 said governor and company of the bank of England, or their fucceffors, of the feveral fums, a

D4

Proviso in

mounting to fixteen hundred thousand pounds, therein mentioned, without any deduction, discount, or abatement whatsoever, to be made out of the faid sum 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 interest money, which should be owing unto them upon all fuch tallies, Exchequer-orders, or parliamentary funds, which the faid governor and company, or their fucceffors, should have remaining in their hands, or be entitled to, at the time of fuch notice to be given, as aforesaid, (Such funds, for redemption whereof other provision was made in the fame act, only excepted) then, or in fuch cafe, and not till then, the faid yearly fund of one hundred thouJand pounds should cease 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 service of circulating all the Exchequerbills, according to the true meaning of this act, it is hereby declared and enacted by the authority aforesaid, That the faid re7 Ann. for de- cited proviso or condition for determining the faid yearly fund termining the of one hundred thousand pounds, upon twelve months notice, and corpora- after the faid first day of August one thousand seven hundred tion, on twelve thirty two upon such payments, as aforesaid, shall 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 fuccessors, for ever, shall remain, continue and be one body corporate and politick, by the name of the governor and company of the bank of England, and shall for 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 all abilities, capacities, powers, authorities, franchises, exemptions, privileges, profits and advantages whatsoever, 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 such restrictions, 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 also fubject to the power and condition of redemption, hereafter in this act contained in this behalf.

yearly fund

On 12 months notice after

XXIV. Provided always, and it is hereby further enacted by the authority aforesaid, That at any time upon twelve months Aug. 1742. notice after the first day of August, which shall be in the year and on pay of our Lord one thousand feven hundred forty two, and not

ment to the bank of

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 faid fum of fixteen hundred thousand pounds, without any deduction, discount or abatement whatsoever, and upon payment to the said governor and company, and their successors, of all arrears of the faid one hundred thoufand pounds per annum, and all the principal and interest money which shall be owing unto them upon all such tallies, Exchequer orders, or parliamentary

mentary funds, which the said governor and company, or their fucceffors, shall have remaining in their hands, or be entitled to at the time of such notice to be given, as aforesaid (fuch funds, for redemption whereof other provision is made in the said former acts, or any of them, or in this act, always excepted) then and in such cafe, and not till then, the said yearly fund of one hundred thousand pounds shall cease and determine.

determine.

XXV. Provided also, 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 shall also be poration to made by parliament of the annuity of one hundred and fix thousand five hundred and one pounds, thirteen shillings and five pence per annum, by the said act of the seventh year of her Majesty's reign, settled and payable to the said governor and company, in the manner therein mentioned, and from and after redemption shall likewise be made of the fund established by this act, in relation to the said Exchequer bills, then, and not till then, the said corporation of the governor and company of the bank of England shall cease and determine, but till then, the said governor and company shall continue a corporation, and shall have and enjoy all the powers and privileges they are now entitled unto, as aforesaid.

XXVI. And be it further enacted and declared, That this Publick act. act shall be esteemed in all courts of law and equity to be a publick act, and notice thereof shall be taken as fuch by all courts and perfons accordingly.

1

XXVII. And whereas by an act of parliament made and paffed Recital of the in the first year of her Majesty's reign, intituled, An act for the act 1 Annæ, better fupport of her Majesty's houshold, and of the honour stat. 1. c. 7. and dignity of the crown, it was enacted and declared, That the hereditary rates and duties of excise 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 excise upon 12 Car. c. 23. beer, ale, and other liquors, by the said act of the first year of ber Majesty's reign granted to her Majesty for the term of her life (fubjett nevertheless to fuch weekly payments or incumbrances as were thereby appointed to be charged upon, and payable out of the feveral duties of excise 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 Majesty during her life, should be for the support of her Majesty's houshold, and of the honour and dignity of the crown; and in the faid alt feveral provisions are made to restrain granting or aliening the revenues aforesaid, 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 otherwise difposed 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 post office hath been fince regranted and increased, and part of that revenue fo regranted and increased bath been appropriated to raise money

Ann. c. 10. money for the publick use, and other part thereof is applicable to the Support of her Majesty's faid houshold, and the honour and dignity of the crown, pursuant to another act of parliament made for those ends and purposes, as by the said respective acts, relation being thereunte bad, may more fully appear: and whereas by occasion of several extraordinary expences fince the faid act of the first year of her Majesty's reign, divers arrears of falaries, wages, diet-monies, and other allowances, and fundry debts for emptions, provisions, and other causes, have incurred, and grown due to her Majesty's servants, tradesmen, and others, and do now remain unsatisfied, 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 support of her Majesty's houshold, and of the bonour and dignity of the crown, as aforesaid: now her Majesty's faid most dutiful and loyal fubjects, the commons of Great Britain in parliament affembled, being defirous that her Majesty, in the administration of her civil government, may not remain under any difficulties, in refpelt of the arrears or debts contracted, as aforesaid, and being therefore defirous that a fum not exceeding five hundred thousand pounds may be raised, by fuch ways and means, as in this act are authorized or appointed, the better to enable her Majesty 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 aforesaid, Her Majesty, That it shall and may be lawful to and for the Queen's most by letters pa- excellent majesty, by letters patents, to be made and passed, 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 seal of Great Britain, to issued out of limit, appoint, set, and appropriate, any fum not exceeding

tents, may ap

the Exche

quer,

thirty five thousand pounds per annum, to be issued or paid by weekly or quarterly payments, as her Majesty shall 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 sum shall be charged upon, and payable out of of the crown, all the faid revenues, duties, and branches, which were ap

&c.

and prefera

pointed for the fupport of her Majesty's houshold, and the honour and dignity of the crown, as aforesaid, as well those which are hereditary in the crown, as those which were granted during her Majesty's life, as aforesaid, and every of them, during all the said term of thirty two years, in case her Majesty (whom God preserve) shall so long live; and in case of her Majesty's demise within the faid term, then the said yearly sum, not exceeding thirty five thousand pounds per annum, shall be charged upon, and be paid and payable out of the hereditary revenues, duties, and branches last before mentioned, for and during so long time as shall be then to come and unexpired of and in the faid absolute term, not exceeding thirty two years, to be reckoned from the time aforesaid; all which payments shall be made with. preference to all other payments whatsoever, which shall