Bank of England Act 1696

LXVI.

Treasury may contract for lending Money to exchange Exchequer Bills not accepted in Payment; Persons so lending Monies to have the said Bills for Security, or other Security agreed upon, and Interest at £10 per Cent. per Ann.

And to the intent that such Person or Persons who have or may have or be intituled to any Talleys or Orders on any Branch of the Revenues or on any Aid Tax or Supply that is or shall be appropriated for repayment and Satisfaction thereof and shall refuse or be unwilling to accept the said Bills in payment may not be obliged to receive the same Be it further enacted That for the Ease Accomodation and Satisfaction of all and every Person and Persons so refusing or being unwilling to receive the said Bills in repayment of such Talleys and Orders Itt shall and may be lawfull to and for the Co[m]missioners of his Majesties Treasury or any Three of them now being or the High Treasurer or any Three or more of the Co[m]missioners of his Majesties Treasury for the time being to covenant and agree in such manner as they shall think fitt with any Persons Natives or Foreigners Bodies Politic or Corporate (with whose Abilities they shall be well satisfied) for the i[m]mediate advancing or lending of Money from Time to Time as there shall be occasion for exchanging such Bills as shall be so refused or not accepted or taken in repayment of Tallies and Orders as aforesaid And that such Person and Persons as shall so contract and agree with the said Co[m]missioners of the Treasury or High Treasurer to advance and furnish Money for the exchangeing and circulating the said Bills in such Manner as the said Co[m]missioners of the Treasury or High Treasurer shall appoint shall i[m]mediately upon their paying or advancing any Moneys pursuant to their Contracts or Agreements have for their Security & Satisfaction the said Bills or such Security as shall be agreed upon between the said Co[m]missioners of the Treasury and the said Contractors and shall also have and receive as a further Encouragement an Interest or Reward not exceeding the Rate of Ten pounds per Cents per Annum for the Su[m]ms so by them respectively contracted or agreed to be furnished or advanced from the Day they become severally obliged for and dureing so long time as their said Obligations shall be in force.