Taxation, etc. Act 1695

XXVI.

His Majesty or the Exchequer may borrow £70,000 Monies on Credit of Duties.; Interest as herein mentioned.

And to the End aswell the whole Rates and Duties upon Low Wines or Spirits of the First Extraction and Sweets hereby granted as alsoe the weekly Su[m]m herein after mentioned to be taken and applied out of the hereditary Branch of His Majesties Revenues of Excise. upon Beer Ale and other Liquors and out of that part of His Majesties Revenues of Excise upon Beer Ale and other Liquors which is granted to His Majesty dureing His Life (which God preserve) and likewise another Weekly Su[m]m herein after mentioned to be taken and applied out of His Majesties Revenue ariseing within the General Letter-Office or Post-Office or the Office of His Majesties Post-Master-General may be made Funds or Securities for raiseing any Su[m]m or Su[m]ms of Money not exceeding in the whole Five hundred and fifteen thousand Pounds (that is to say) any Su[m]m or Sums not exceeding Five hundred thousand Pounds for defraying the Expences of His Majesties Household and Family and other His Majesties necessary Occasions And any Su[m]m not exceeding Fifteen thousand Pounds for the Relief of the Poor French Protestants by borrowing Moneys upon the same Rates Duties or Branches respectively in such Proportions Manner and Forme as are herein after exp[re]sed Be it further enacted by the Authority aforesaid That it shall and may be lawfull to and for his Majesty or His Majesties Officers in the Receipt of His Exchequer to borrow or take in by way of Loan to His Majesties Use on Creditt of the said Rates or Duties upon Low Wines or Spiritts of the First Extraction and Sweets hereby granted any Su[m]m or Su[m]ms of Money not exceeding Seventy thousand Pounds (to be reckoned part of the said Su[m]m not exceeding Five hundred and fifteen thousand Pounds for the Purposes aforesaid) from any Person or Persons Natives or Forreigners Bodies Politick or Corporate as shall be willing to advance or lend the same And that Interest for the Forbearance thereof not exceeding the Rate of Six Pounds per Centum per Annum for the First Forty thousand Pounds and Seven Pounds per Cents per Annum for remaining Thirty thousand Pounds which shall be so lent shall be allowed and paid out of the said Rates or Duties upon Low Wines or Spirits of the First Extraction and Sweets hereby granted And that the Money so to be lent shall not be rated or assessed to any Publick Tax or Assessment whatsoever.