Land Tax Act 1698

XCII. Out of the next Money arising by the Customs granted by 6 & 7 W. & M.c. 1. for Five Years, ending 26th Dec. 1699, after £1,250,000 borrowed thereon, and the Interest thereof is satisfied, £40,000 to be applied for Premiums to Contractors for circulating Exchequer Bills.

And be it further enacted by the Authority aforesaid That out of the neat Moneys ariseing or to arise and which shall be paid into His Majesties Exchequer by virtue of the Act of Parliament made and passed in the Sixth Yeare of the Reigne of His Majesty and the late Queen Mary of blessed Memory whereby a Subsidy of Tonnage and Poundage and other Duties payable upon Merchandizes exported and imported were granted for the terme of Five Yeares which will end on the Six and twentieth Day of December One thousand six hundred ninety nine over and above the necessary Charges of and Allowances incident to the levying raising and manageing the said Subsidy or other Duties and after all the Moneys remaining unpaid of the Sum not exceeding Twelve hundred and fifty thousand Pounds borrowed on the Credit of the yearly Sum of Three hundred thousand Pounds appropriated thereupon and all the Interest remaining due and to grow due for the same or any part thereof shall be satisfied or that sufficient Money of the said Subsidy and other Duties shall be reserved and kept in Bank for the clearing and paying off all the said Principal and Interest the Sum of Forty thousand Pounds shall be appropriated and applied and is hereby appropriated to satisfie the Præmiums and Rewards due or to be due to such Persons as have contracted or shall contract to advance Money from time to time for exchanging or circulating the Bills commonly called Exchequer Bills as the Commissioners of His Majesties Treasury or any Three of them now being or the Treasurer of the Exchequer or any Three or more of the Commissioners of the Treasury for the time being shall direct and appoint who are hereby alsoe impowered to assigne the same in Talleys to that Purpose