432 C. 7. Anno nono Ann^ Reginse. A, D. 1710. Contract with ' fpedively had) may more fiJlly appear : And whereas we your Majefty's rnoft dutiful and loyal Subjects, the Bank, f^r c ^^^ Commons oi' Great Britain in Parliament ailembled, did refolve on the fixteenth Day of Janu^iry ons r"enrEx^cheq"er ' thouCand feven hundred and ten, That an annual Sum, not exceeding forty-five thoufand Pounds, Bills. ' ' fhould be granted, to enable your Majefty to contradl for anfwering all Non-fpecie Exchequer Bills, . ' by exchanging them from Time to Time for ready Money ; and thereupon the faid Governor and Com- ' p my have humbly propofed, That in cafe a fuflicient Fund fhould be granted to your Majefty for Pay- ' ment of forty-five thoufand Pounds per Amiuw to the faid Governor and Company, by quarterly Pay- ' ments, from the Time their Undertaking in this Behalf ihall commence, until the one and thirtieth ' Day oijuly one thoufand feven hundred and fourteen; and if a like Sum of forty-five thoufand Pounds ' per Annum, to commence and take Eficd from the faid one and thirtieth Day of J/z/jj' one thoufand feveii ' hundred and fourteen, and to be alfo payable quarterly out of the Funds eftabliftied by the faid Ads, or ' feme of them, for the Payment of the faid Iiuerefl: and Allowance, and for difcharging and cancelling ' the faid Exchequer Bills, fhall (after the Payment of fuch Intereft and Allowance, and with Preference ' to the cancelling or difcharging any of the faid Bills) be appropriated and continued to the faid Gover- ' nor and Company, until fuch I'ime as all the faid quarterly Exchequer Bills, made or to be made for ' Intercfl: or Allowance as aforefaid, upon the faid Bills for two millions nine hundred thoufand Pounds, ' together with a million of the faid Bills for two millions nine hundred thoufand thoufand Pounds, fhall ' be paid and cancelled, or until fuch Time as of the faid Bills for two millions nine hundred thoufand ' Pounds, and quarterly Bills taken together, there fhall not be ftanding out and uncancelled more than ' one million nine hundred thoufand Pounds in the whole, they the faid Governor and Company in Con- ' fideration thereof, (for the publick Service, further than the A£ts before mentioned require) are wil- ' ling to undertake, and be obliged, after fuch Time as fliould be agreed on, to exchange for ready Mo- ' ney all fuch of the faid Exchequer Bills, as from Time to Time, and at all Times then after, fhould ' be in the Hands of any Perfon or Perfons, and be demanded of the faid Governor and Company to be ' exchanged for ready Money, whether fuch Bills or any of them fhould or fliould not have pafted, or ' had a Currency in your Majefi-y's Revenue or Taxes as aforefaid : The faid Governor and Company at ' the fame Time alfo propofing, that they may be impowered to contrail and agree with any Perfons for ' advancing to the faid Governor and Company, from Time to Time, fuch Sums on fuch Terms as they ' fliall find necefTary for the more fecure making good fuch Undertaking; and that they might have fuch ' other Claufes granted them as might be reafonable for enabling them to perform the fame :' Now to the Bank to have ejiJ the Undertaking fo offered may obtain its full and due Efted: for the Advantage and Service of your Ann™" Majcfly and and your Subjeds, we your Majefly's faid dutiful and loyal Subjeds, the Commons of nnuni. Great Britain in Parliament alTembled, do moll humbly befeech your Majefty, that it may be enaded ; and be it enacted by the Queen's moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament afTembled, and by Autiiority of the fame, That for the better enabling the faid Governor and Company of the Bank oi England, and their SuccefTors, to perforrn fuch Undertaking, the full Sum of forty-five thoufand Pounds /iisr Annum, or fo much Money as fhall be after the Rate of forty-five thoufand Pounds ^i?r Annum, fhall be well and truly paid and fatisfied, by fuch Ways and Means, and during fuch Time as are herein after exprefled, unto and for the Ufe of the faid Governor and Company, and their Succeffors, without any Account, Impreft, or other Charge to be fet upon them for the fame or any Part thereof, and without any Abatement for Taxes, or other Caufe or Occafion whatfoever; and that the faid Sum of forty-five thoufand Yonnds per Annum or after that Rate, fliall commence and take EfFeft from fuch Time as fhall be prefixed by the Coinmiffioners of her Majefty's Treafury, or any three or more of them now being, or by the High IVea- furer, or any three or more of the Commiffions of the Treafury for the Time being, in Writing under his or their Hands to be publickly affixed on the Royal Exchange oi London, and to be alfo notified in the Lon- To continue till ^/^^ Gazette, for the Commencement of the faid Undertaking; and fhall continue, and be paid, and Tpz-f^ ExchT ueTBiUs^ ^^^^ from thenceforth, until fuch Time as all the fiid quarterly Exchequer Bills, made or to be made for niadek)r Intereft, Intereft or Allowance as aforefaid, upon the faid Bills for two millions nine hundred thoufand Pounds, and a million of together with a million of the faid Bills, for two millions nine hundred thoufand Pounds, fhall be paid ofr the Bills be paid and cancelled, or until fuch Time as there fhall not be ftanding out and uncancelled more than one mil- oiT, &c. iJQn ,-|ine hundred thoufand Pounds in the whole of the faid Bills for two m.illions nine hundred thoufand Pounds, and quarterly Bills taken together, (which of the Limitations aforefaid fhall firft happen) and that fo much of the faid yearly Sum, after the Rate of forty-five thoufand Pounds ^^r Annum, as is to be rec- koned by the Day, for fo many Days as fhall incur from the Day of the Commencement -of the faid Un- dertaking exclufively, until the one and thirtieth Day oijuly one thoufand feven hundred and eleven in- clufively, fliall be paid and fatisfied unto the faid Governor and Company, on the faid one and thirtieth Day of July one thoufand feven hundred and eleven; and that from and after the faid one and thirtieth Day of July one thoufand feven hundred and eleven, during the Term of three Years from thence next and immediately enfuing, the faid yearly Sum of forty-five thoufand Pounds fhall be paid and fatisfied to the faid Governor and Company, and their SuccefTors, by quarterly Payments ; that is to fay, on the one and thirtieth Day oi OSiober, the one and thirtieth Day of January, the thirtieth Day oi April, and How the fame the one and thirtieth Day oi'July yearly, by even and equal Portions; and that all the Payments i'o to be ni.i;ibe fausfiecl nfiade of or for the faid yearly Sum of forty-five thoufand Pounds, or after that Rate, from the Com- tillij Julyi7i4. rncncement of the faid Undertaking, until the faid one and thirtieth Day of July one thoufand feven hun- dred and eleven inclufively, and from thence until the End of the faid Term of three Years, to wit, until the one and thirtieth Day of July one thoufand feven hundred and fourteen inclufively, fhall be and are, by Force and Virtue of this prefent Aft, charged and chargeable upon, and fhall be difcharged and fatis-, fied
