Taxation (No. 4) Act 1696

XVIII. Recital of c. 6. ante, § 94.; and of c. 20. ante,

§ 63.; § 64.; Treasury may make forth Bills for £1,200,000 over and above the Sum of £1,500,000, to beissued under c. 6. ante, § 94. so as there be not Bills at one Time outstanding to more than £2,000,000; Such Bills to have the like Currency and bear the same Interest as the Bills for £1,500,000.

And whereas by an Act of this present Session of Parliament intituled An Act for granting an Aid to His Majesty as well by a Land Tax as by several Subsidies and other Duties payable for One Yeare Itt is amongst other Things enacted That for the better and more speedy answering of the Supplies hereby granted or that should be granted for this present Yeare One thousand six hundred ninety seven Itt should and might be lawfull to and for the Co[m]missioners of His Majesties Treasury or any Three of them now being or for the High Treasurer or any Three or more of the Co[m]missioners of the Treasury for the time being to cause Bills to be made forth att the Receipt of Exchequer in such Manner as they should appoint for any Sum[m] or Su[m]ms of Money not exceeding Fifteen hundred thousand Pounds and to issue the same to the Uses of the Warr in such proportions as they should think fitt And by another Act of this present Session of Parliament intituled An Act for making good the Deficiency of several Funds therein mentioned and for enlargeing the Capital Stock of the Bank of England and for raiseing the Publick Creditt Itt is enacted That the Bills by the aforementioned Act authorized to be issued should passe and be current to all and every the Co[m]missioners Receivers or Collectors of any Revenue Aid Tax or Supply whatsoever granted or that should be granted dureing this present Session of Parliament either for the Warr or any other Use and also att the Receipt of Exchequer and that there should be annexed unto attend and go along with the said Bills an Interest after the Rate of Five Pence a Day for every One hundred Pounds contained therein and proportionably for a greater or lesser Su[m]m with such Directions concerning the said Bills as in and by the said several Acts relation being thereunto respectively had may more fully appeare Now to the end His Majesty may likewise have the better and more speedy effect of the Supplies by this Act intended be it further enacted by the Authority aforesaid That it shall & may be lawfull to and for the Co[m]missioners of His Majesties Treasury or any Three of them now being or for the High Treasurer or any Three or more of the Co[m]missioners of His Majesties Treasury for the time being to cause Bills to be made forth att the Receipt of Exchequer for any Su[m]m or Su[m]ms not exceeding Twelve hundred thousand Pounds over and above the said Fifteene hundred thousand Pounds by the First mentioned Act authorized to be issued in such Proportions neverthelesse as that there shall not att any one time be more Bills standing out than to the Value or Amount of Two Millions in Principal Money And that the said Bills shall have like Currency and beare the same Interest after the Rate of Five Pence per Centum per diem as the Bills for the said One Million Five hundred thousand Pounds.