A. D. 1729. Anno fecundo Georgii II. C. 3. 671
- turn per Annum, redeemable by Parliament, for fo much of the faid principal Sums carrying Intereft at r o it
' Pounds per Centumper Afttiupi, as fhould be fo taken into their Capital Stock; and as to (o much of tl ' faid principal Sums carrying an Intereft after the Rate of live Pounds per Centum per Annum, as flbo'ul ' taken into the faid Capital Stock, the faid Company were to be intitled to an Annuity aft r th Elate of ' five Pounds per- Centum per Annum, until the Feaft-Day of the Nativity of Saint / bn the Bapti/i which ' fhould be in the Year of our Lord one thoufand feven hundred and twenty-feven, and from and after ' faid Feaft-Day then to an Annuity after the Rate of four Pounds per < , ' . / r Annum, red i lablebyPar- ' liament, in lieu of the former Interefl or Annuity payable for the fame, and to be charged on the faid ad- ' ditional Duties, Rates or Impofitions; and alfo by Virtue of the faid Act the faid Soutb-Sea Company
- were to be infilled to an additional Allowance for Charges of Management, to be afterward fei I and
' adjuflcd in refpecr. of the whole Increafe of their Capital by Virtue of that Aft,' to be charged proportionally
- on the refpective Duties and Revenues on which the refpe&ive Debts that {hould be taken into their Capital
' were then charged : And whereas in Piirfuance of the laft recited Act the feveral following principal Sums ' were fubferibed or taken into the Capital Stock of the faid South-Sea Company, videlicet, So many of the ' faid principal Sums, carrying an Intereft after the Rate of four Pounds per Centum per Annum, as amount- ' ed together to the principal Sum of five hundred thirty-eight thoufand feven hundred and twenty Pounds ; ' and fo many of the faid principal Sums, carrying an Intereft after the Rate of five Pounds per Centumper 1 Annum, as amounted together to the principal Sum of eight hundred fixty-five thoufand two hundred and ' fifty Pounds, both which principal Sums make together the principal Sum of one million four hundred and ' three thoufand nine hundred and feventy Pounds, in refpect whereof the faid Company are now intitled to ' an Annuity of fifty-fix thoufand one hundred and fifty-eight Pounds fixtcen Shillings, being after the Rate ' of four Pounds per Centumper Annum for the faid principal Sum of one million four hundred and three thou- ' fand nine hundred and feventy Pounds, redeemable by Parliament, charged on the faid additional Duties, ' Rates or Impofitions: And whereas the additional Allowance to the faid Company, by Virtue of the laft re- ' cited Act, for Charges of Management, hath been fettled and adjufted at twelve thoufand Pounds per An- ' num, and the proportional Part thereof, in refpect of the faid Sum of one million four hundred and three ' thoufand nine hundred and feventy Pounds, which by Virtue of the faid laft recited Act is charged or charge- 1 able upon the faid additional Duties, Rates or Impofitions, amounts by Computation to the yearly Sum of ■' fix hundred forty-fix Pounds twelve Shillings and two Pence Half-penny: And whereas all the Reft and ' Refidue of the feveral principal Sums fo as aforefaid charged on the faid yearly Fund of one hundred aTid ' fixteen thoufand five hundred feventy-three Pounds and twelve Shillings, to arife out of the faid addi- .* tional Duties, Rates or Impofitions (over and beyond the Sums foas aforefaid taken into the Capital Stock ' of the Soutb-Sea CompanyJ have been paid off and difcharged, by Means whereof and of the Provifions in ' the faid laft recited Act, the faid former Fund is ceafed and determined, and the faid additional Rates, 4 Duties or Impofitions ftand now charged only with the faid Annuity of fifty-fix thoufand one hundred and ' fifty-eight Pounds fixteen Shillings, payable to the South-Sea Company, redeemable by Parliament, and ' the faid proportional annual Sum of fix hundred forty-fix Pounds twelve Shillings -and two Pence lialf- ' penny, payable to the faid Company for Charges of Management -as aforefaid, and fubject thereto, the ' Surplus of the Monies arifing from the faid additional Duties, Rates or Impofitions is liable to the Difpc- c fition of Parliament: And whereas the Governor and Company of the Bank of England have confented BankofTngland e and agreed to advance and pay into the Receipt of your Majefty's Exchequer the Sum of one million two to advance ' hundred and fifty thoufand Pounds, at the Times and in Manner herein after mentioned, for the Purchafe I > 2 ^°^oU ' of an Annuity of fifty thoufand Pounds to be paid to them and their Succeflbrs for ever, fubject to Re- ' demption by Parliament, to be charged on the faid Surplus Monies to arife for the additional Duties, ' Rates or Impofitions, fo fubject as aforefaid :' Now we your Majefty's moft dutiful and loyal Subjects, the Commons of Great Britain in Parliament aiTembled, being defirous effectually to enable your Majefty tofe- cure and preferve the Commerce, Privileges and Pofleflions of your Majefty and your Subjects, and the Ba- lance of Power in Europe, by a juft, fafe and honourable Peace, and at the fame Time to raife the Supplies which we have chearf'ully granted to your Majefty for thefe Purpofes in the eafieft Manner we are able, for the Benefit of your Majefty, have freely and voluntarily given and granted, and by this Act do give and grant to your Majeftythe Sum of one million two hundred and fifty thoufand Pounds to be raifed in fuch Manner and Form as is herein after directed ; and to that End do moft humbly befeech your Majefty, that it may be enacted; And be it enacted by the King's moft Excellent Majefty, by and with the Advice _ An Annuity of ty-nine, a certain yearly Sum or Fund of fifty thoufand Pounds, being after the Rate cf four Pounds per 50,000 l.efla- . Centum per Annum, for or upon the Sum of one million two hundred and fifty thoufand Pounds to be raifed bliuS - ed - by this Act, be fettled and eftablifhed and be payable in the Manner and Form herein after expreffed and declared, for fatisfying the Annuities to be purchafed in Purfuance of this Act from Time to Time, until the Redemption thereof, by Parliament, according to the Provifo or Provifoes herein after for that Purpofe contained. II. And for the better fecuring and eftablilhirig the faid Fund, it is hereby enacted by the Authority afore- faid, That the faid yearly Fund or Sum of fifty thoufand Pounds-fhall be and is hereby charged upon, and payable out of all the Overplus or Surplus Monies of the faid additional Duties, Rates or Impofitions, fo Charged upon granted as aforefaid, which ihall from_ time to time remain in the Exchequer, after fatisfying or refervino- the ? vcrp . lus there fufficient to fatisfy fo much as ihall be incurred or grown due to the faid South-Sea Company upon their additional eT faid Annuity, and additional Allowance for Charges of Management ; and the Commitfioners of his Ma- ties) ^^ jetty's Treafury now or for "the Time being, or any three or more of them, or the Lord High Treafurer for t the Time being, {hall, and they are hereby required quarterly in every Year, after the faid Feaft-Day of J^ly froAia* 1 * 4 the June 17:9..
