Coin Act 1697

III. Recital of 8 & 9 W. III. c. 6. §94.

8 & 9 W. III. c. 24. §18.; and that several of the Bills therein mentioned had been paid in and re-issued so often as not to admit of further Indorsement.; Treasury may cause new Bills to be made forth in lieu of such Bills,; and the old Bills cancelled. The new Bills to be current, &c.; Proviso as to the Interest incurred on the old Bills.

And whereas in and by an Act made and passed in the Session of Parliament which was holden att Westminster in the Eighth Yeare of His Majesties Reigne intituled An Act for granting [X1 an Aid] to His Majesty as well by a Land Tax as by several Subsidies and other Duties payable for One Yeare itt was amongst other things enacted That the Commissioners of His Majesties Treasury or any Three of them might cause Bills to be made forth at the Receipt of the Exchequer for any Sum or Sums of Money not exceeding One Million five hundred thousand Pounds by virtue of that Act which were to be current in such Manner and Forme as in the said Act and in several other Acts of the said Session of Parliament are mentioned And in and by another Act made and passed in the aforesaid Session intituled An Act for granting to His Majesty a further Subsidy of Tunnage and Poundage upon Merchandize imported for the Terme of Two Yeares and Three Quarters and an additional Land Tax for One Yeare for carrying on the Warr against France itt was enacted That the Co[m]missioners of His Majesties Treasury or any three of them might cause further Bills to be made forth att the said Receipt of the Exchequer for any Su[m]m or Su[m]ms not exceeding Twelve hundred thousand Pounds to have like Currency as the Bills before mentioned as by the said several Acts relation being thereunto had may more fully appeare And whereas several of the Bills above mentioned have been paid into the Publick Receipts for Revenues Taxes and Aids and issued out againe several times by which they have been subject to so many Indorsements that they will admitt of no further indorsements to be made thereupon and consequently will not be so current in Payments as before which inconveniency will daily increase unlesse some proper Remedy be provided Be it further enacted by the Authority aforesaid That in respect to such of the said Bills as are or shall from time to time be filled upp with Indorsements it shall and 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 new Bills to be made forth att the Receipt of the Excheq[uer] to be delivered from time to time to such Person or psons as shall demand the same in lieu of such Bills as shall be brought in filled upp with Indorsements which old Bills shall be cancelled and kept apart from all other Bills whatsoever and such new Bills shall in all respects have the like Currency and there shall be inflicted the same Punishment for forgeing or counterfeiting the same and they shall be subject to the same Rules Methods and Continuance as by the said former Acts are provided in respect to the Bills thereby made forth or any of them and such new Bills respectively shall beare the same Numbers Dates Principal Su[m]ms and Rate of Interest per diem as were borne on the old Bills brought in so to be cancelled respectively and as to the Interest that shall have incurred on the said old Bills to the Days of their being brought in to be renewed the intire Su[m]m of such Interest shall be so computed as to take off and abate what did accrue whilst they lay in the Hands of any of His Majesties Receivers or Collectors or in His Majesties Exchequer and shall be written upon the said New Bills Any thing in the said former Acts contained to the contrary notwithstanding.

Editorial Information

X1 interlined on the Roll.