Taxation, etc. (No. 2) Act 1695

LXVII.

His Majesty or the Exchequer may borrow upon Interest as herein mentioned; Money lent Tax free.

And for the more certaine speedy & effectuall raiseing of the said Su[m]m of Twenty five hundred and sixty foure thousand Pounds for the several Purposes before mentioned And to the end the Supplies thereby intended as well for the carrying on of the said Warr as for the just Satisfaction of all Persons who had Securities upon the said Duties by this Act taken away or otherwise disposed may not in any Case be frustrated disappointed or diminished itt is hereby provided and be it further enacted by the Authority aforesaid That it shall and may be lawfull to and for His Majesty or His Officers in the Receipt of Exchequer by His Majesties co[m]mand and Appointment from time to time to borrow or take into the said Receipt any Su[m]m or Su[m]ms of Money whatsoever from any Person or Persons Natives or Forreigners Bodies Politick or Corporate that shall be willing to lend or advance the same either upon the Creditt of Repayment by Orders to be registred and paid in Course with Interest after the Rate of Seven Pounds per [X1 Cent] per Annum or upon the Creditt of Bills to be made payable upon Demand with Interest not exceeding the Rate of Three pence per diem for every One hundred pounds in the respective Manners and Forms herein after mentioned so as that the principal Su[m]ms which att any one time shall be due and owing either upon the said Orders or upon the said Bills or both shall not exceed the said Su[m]m of Twenty five hundred and sixty foure thousand Pounds And so as that before the First day of August One thousand six hundred ninety six any Su[m]m or Su[m]ms of Money exceeding in the whole the Su[m]m of Fifteen hundred thousand Pounds shall not be advanced upon the Creditt of such Bills payable att demand as aforesaid And that it shall and may be lawfull to and for His Majesty att any time or times by any Warrant or Warrants under His Privy Seale to direct limitt and appoint how much of the said Su[m]m and Su[m]ms of Money so to be lent or advanced as aforesaid shall or may from time to time be lent upon the Creditt of Orders in course bearing Interest att the said Rate of Seven Pounds per [X1 Cent] per Annum or be advanced from time [X2 to time] upon Creditt of Bills payable att Demand with such Interest not exceeding Three pence per diem for every One hundred Pounds as aforesaid so as the Principal to be due or owing att any one time upon the whole or the Money to be advanced upon Bills before the said First Day of August do not exceed as aforesaid And that no Moneys whatsoever so to be advanced or lent shall be taxed or assessed to or for any publick Tax Charge or Imposition whatsoever.

Editorial Information

X1 Variant reading of the text noted in The Statutes of the Realm as follows: Centum O. [O. refers to a collection in the library of Trinity College, Cambridge]

X2 interlined on the Roll.