Bank of England Act 1696

XLII.

Application of the General Fund; Treasury, on or before 26th July 1698, and thenceforth, once in 28 Days, to cause an Account to be taken of all Monies brought into the Exchequer, &c.; and cause the same to be applied to Account of deficient Taxes.

And as to for and concerning so much of the Moneys of the said General Fund hereby appropriated as aforesaid as shall arise and be brought into the said Receipt of Exchequer att any time or times after the said Eight & twentieth Day of June One thousand six hundred ninety eight as well for the said Duties upon Houses as for the said additional and other Rates Duties Impositions and Charges upon several sorts of Goods and Merchandizes dureing the Continuance of this Act and as to for and concerning so much of the Moneys of the said General Fund hereby appropriated as aforesaid as shall arise and be brought into the said Receipt of Exchequer att any time or times of or for the Several Duties Impositions or Revenues herein after mentioned (that is to say) of or for the said Duties upon Vellum Parchment and Paper by this Act granted and continued from the Eight and twentieth Day of June One thousand six hundred ninety eight until the said First Day of August One thousand seven hundred & six and of and for the said Subsidy of Tunnage and Poundage & other Duties upon Merchandizes therewith granted and continued by this Act from the said Five and twentieth Day of December One thousand six hundred ninety nine until the said First Day of August One thousand seven hundred & six and of [X1 and] for the said Rates & Duties upon Marriages Births Burials Batchelors & Widdowers hereby granted and continued from the First Day of May One thousand seven hundred until the said First Day of August One thousand seven hundred and six and of or for the said Impositions or Duties upon Wines Vinegar Tobacco East India Goods wrought Silks and other Duties therewith granted and continued by this Act from the Eight & twentieth Day of September One thousand seven hundred and one until the said First Day of August One thousand seven hundred and six and all the Moneys (if any such be) which from & after the full Payment and Satisfaction of the said Su[m]ms not exceeding Fifteen hundred thousand pounds borrowed upon the Creditt of the said Act passed in the Parliament holden in the Seventh and Eight Yeares of his Majesties Reigne for the said continued Duties upon Wines Vinegar Tobacco East India Goods and other Merchandizes shall arise thereby until the said Nine and twentieth Day of September One thousand seven hundred and one and be brought into the said Receipt of Exchequer and as to all the Moneys which from and after the full Payment and Satisfaction of the Su[m]ms of Money not exceeding One million seven hundred twenty foure thousand pounds borrowed or to be borrowed as aforesaid for the Service of the Warr upon Creditt of the said Act for continuing and making perpetual the said Duties upon Salt Glasse Wares Stone and Earthen Wares and upon Tobacco Pipes and other the Duties thereby granted or continued itt is hereby further enacted and provided That all the Moneys so ariseing and brought from time to time into the said Receipt [X2 of Exchequer ] of or for the said general Fund consisting of the said several Duties Impositions and Revenues before enumerated and mentioned as the same shall from time to time co[m]mence or take effect shall be distributed issued & applied to and for the Payment of Principal and Interest charged upon or directed to be paid as aforesaid out of the said deficient Funds that is to say the said First Aid of Foure shillings in the pound the said Third Aid of Foure shillings in the pound the said Fourth Aid of Foure shillings in the pound the said quarterly Poll the said Three fourth parts of the Customes the said Duties upon Salt glasse Wares and other earthen Wares and Tobacco Pipes the said Two third parts of the additional Excise the said additional Impositions payable for Goods and Merchandizes the said Duties payable upon Vellum Parchment and Paper the said Rates and Duties payable upon Marriages Births and Burials Batchelors and Widdowers the said continued Impositions payable for Wines Vinegar Tobacco East India Goods and other Merchandizes imported and upon the said yearely Su[m]m of Three hundred thousand pounds payable out of the Subsidy of Tunnage and Poundage so as that a proportionable part of the Moneys so coming in to be distributed as aforesaid shall be distributed issued & applied to pay principal and Interest upon every one of the Funds last mentioned according and in proportion to the Su[m]m of the Deficiency thereof before in and by this Act computed and expressed and that the Co[m]missioners of his Majesties Treasury or any Three or more of them now being or the High Treasurer or under Treasurer of the Exchequer or any Three or more of the Co[m]missioners of the Treasury for the time being shall on or before the Six and twentieth Day of July One thousand six hundred ninety eight and from thenceforth once in every Eight and twenty Days or oftner cause and exact Account to be made or taken of all the Moneys that shall be brought into the Excheq[uer] applicable to pay Principal & Interest on the said deficient Funds as aforesaid and shall thereupon i[m]mediately from time to time by their Warrants and Orders cause such Money to be distributed applied and placed to the Account of each Tax Revenue or Fund so deficient as aforesaid in the just Proportions before mentioned and according to the true intent and meaning of this Act.

Editorial Information

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

X2 interlined on the Roll.