Bank of England Act 1696

XXXIX.

Monies of the said General Fund hereby appropriated, arising before 28th June 1698, for the Duties on Houses, after Payment of £7, 382 11s. 4d. and Interest, &c. also for additional Rates on Merchandizes, &c. continued by this Act, to satisfy the Interest due on Loans directed to be repaid out of the 1st, 3d, and 4th 4s. Aids, Quarterly Poll, &c.; With Interest after the Rate of £8 per Cent. per Ann.

And to the end all the Monies which shall arise and be brought into the Receipt of the Excheq[uier] of or for the several Duties Impositions and Revenues which are hereby appropriated for making good of the deficient Funds and are before in this Act particularly enumerated and declared to be the general Fund for that purpose may be duely issued and applied for and towards the Payment & Satisfaction of the Principal and Interest due and to grow due upon the said Funds hereby declared or computed to be deficient according to the true Intent & Meaning of this Act and that the Moneys by this Act appropriated for that Purpose may not be diverted or applied to any other Use then is hereby intended Be it further enacted and provided That 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 the Exchequer att any Time or Times before the Eight and twentieth Day of June One thousand six hundred ninety eight as well for the said Duties upon Houses (after the said Principal Moneys not exceeding Seven thousand three hundred eighty two pounds eleven shillings and foure pence and the Interest thereof and the said Reward of Six pence an Ounce for Silver shall be satisfied) as also for, the said additional and other Rates Duties Impositions & Charges upon several sorts of Goods and Merchandizes by this Act continued from the last Day of February One thousand six hundred ninety six shall be [X1 issued &] applied for and towards the Payment and Satisfaction of the Int[r]est due or to grow due (as well to the Bank of England as to any other Person or Persons that are or shall be intituled to Interest) of or for the Loans that are or shall be remaining unsatisfied which were made upon or directed to be repaid out of the said First Aid of Foure shillings in the Pound and the said Third Aid of Foure shillings in the Pound and the said Fourth Aid of Foure shillings in the Pound and the said quarterly Poll and the said Three Fourth Parts of the Customes and the said Two third Parts of the additional Excise and such additional Impositions and Duties on Goods and Merchandizes as were granted by the said Act ending on the First Day of March One thousand six hundred ninety six and that out of the same Moneys so ariseing and brought into the Exchequer att any Time or Times before the said Eight and twentieth Day of June One thousand six hundred ninety eight the said Governour & Company of the Bank of England and their Successors shall receive so much as will make upp their Part of the Interest out of the Funds last mentioned to be after the Rate of Eight pounds per Centum per Annum as well for such Talleys and Orders charged on those Funds as shall be subscribed and brought into the Bank as aforesaid as for other their Talleys and Orders on those particular Funds whereof the Interest is to be augmented to the said Rate of Eight pounds per Centum per Annum by virtue and in pursuance of this Act.

Editorial Information

X1 interlined on the Roll.