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advance to Your Majesty, in Manner hereinafter mentioned, for • carrying on the present War, and other Your Majesty's necessary • Occasions, a further Sum of twelve hundred thousand Pounds • of lawful Money of Great Britain, upon such Terms, Conditions

and Advantages as are hereafter expressed and set down :' Now we Your Majelty's most dutiful and loyal Subjects, the Commons of Great Britain in Parliament assembled, being desirous not only to supply Your Majesty with such Aids as may enable Your Majesty to carry on the said War with Vigour, but also to raise the same in fuch a Manner as may create no new Charge upon Your Subjects, do most humbly beleech Your Majesty that it may be enacted ; and be it enacted by the Queen's Moft Excellent Majelty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That the said English Company English Company trading to the Eafl Indies, as well for and on the Behalf of the said to advance Governor and Company of Merchants of London trading into the 1,200,0col. East Indies, as for and on the Behalf of all others the Members of the said English Company, shall advance and actually pay into the Receipt of Her Majesty's Exchequer, for Her Majesty's Use, the said Sum of twelve hundred thousand Pounds, by such Proportions, and at such Times as are hereinafter appointed for the Pay- Times of Paya ment thereof (that is to say) two hundred thousand Pounds, Part ment. thereof on or before the twelfth Day of May which shall be in the Year of our Lord One thousand seven hundred and eight; two hundred thousand Pounds more thereof, on or before the twelfth Day of July One thousand seven hundred and eight; two hundred thousand Pounds more thereof, on or before the eleventh Day of September One thousand seven hundred and eight; two hundred thousand Pounds more thereof, on or before the twelfth Day of November One thousand seven hundred and eight; two hundred thousand Pounds more thereof, on or before the twelfth Day of January One thousand seven hundred and eight; and two hundred thousand Pounds more thereof, and in full Satisfaction to the said twelve hundred thousand Pounds on or before the tenth Day of March which shall be in the Year of our Lord One thousand feven hundred and eight; and in case the faid English Company trading to the East Indies, shall make Failure in any of the said On Non-payPaymerts

hereby appointed to be made at or before the respective men:, Company Days or Times before limited in that Behalf, the Monies whereof may be sued, ko such Failure in Payment shall be made, shall and may be recovered to Her Majesty's Use, by Action of Debt, or upon the Cale, Bill

, Suit or Information, in any of Her Majesty's Courts of Record at Westminster, wherein no Efroin, Protection, Privilege or Wager of Law, shall be allowed, or any more than one Imparlance ; in which Action, Bill, Suit or Information, it shall be lawful to declare, that the said Englis Company trading to the East Indies, are indebted to Her Majelty the Monies of which they shall have made Default in Payment, according to the form of this Statute, and have not paid the same, which shall be sufficient; and in or upon such Action, Bill, Suit or Information, there shall be further recovered to Her Majesty's Use, againft the said English Company trading to the East Indies, Damages after the Rate of twelve Pounds per Centum, for the Monies so unpaid contrary to shis Aa, besides full Costs of Suit ; and the said English Company Cults.

trong

trading to the East Indies, and their Succeffors, and the said united Stock

and Fund shall be and are hereby made subject and liable

thereunto. Company may

II. And for the better enabling the said English Company trading borrow

to the East Indies, to raise and pay the said Sum of twelve hundred 1,500,000l. on thousand Pounds to Her Majesty's Use as aforesaid, it is hereby their Common Seal.

declared and enacted by the Authority aforesaid, That the Com. mon Seal of the said English Company, now in the Hands of the Managers for the united Ï'rade of the English Company trading to the East Indies, fhall and may be made use of to borrow 'ant Sum or Sums of Money from Time to Time, upon Account of the said united Stock and Fund, so as the Sum Total of all the principal Monies which at any one Time shall be owing upon the Security of the said Seal, do not exceed one million five hundred thousand Pounds, over and above the Monies which might lawfully

be borrowed thereupon before the making of this prelent Act. The two Com. II. And it is hereby enacted by the Authority aforefaid, That panies may call in case the General Court of the said Governor and Company of in Monies for

Merchants of London trading into the East Indies, and the General advancing 2,200,000l.

Court of the faid Englis Company trading to the East Indies at any Time or Times whilst they shall separately continue, shall think fit, or if the General Court of the faid English Company, after the Determination of the other General Court aforesaid, shall think fit to call in Monies from their respective Adventurers or Members for or towards the raising the faid Sum of twelve hundred thousand

Pounds to be advanced to Her Majesty's Use or any Part thereof, Or for repaying or for repaying the Monies borrowed for that purpose, or the Monies bor- Interest thereof, that then it shall and may be lawful to and for rowed.

the faid Governor and Company of Merchants of London, trading into the East Indies, and the faid English Company trading to the East Indies respectively, at any Time or Times during the leparate Continuance of their Ġeneral Courts, as aforesaid, and afterwards to and for the faid English Company trading to the Eaft Indies, by whatsoever Name or Names the same shall then be called or known, to call in or direct to be paid unto them respectively, from and by their respective Adventurers and Members for the Time being, proportionably, any Sum and Sums of Money which shall from Time to Time be so thought fit, for or towards the making up the said Sum of twelve hundred thousand Pounds to be advanced to Her Majesty's Use as aforesaid, or for repaying the Monies

borrowed for that Purpose, or the Interest thereof; and that all Executors, &c.

Executors, Administrators, Guardians and Trustees, shall be indem. iademnitied. nified in paying the famé ; and in case any Adventurers or Members

of the said respective Corporations shall neglect or refuse to pay his, her or their Shares of the Monies so called in, at the Time or Times appointed for that Purpose, by Notice to be fixed upon

the Royal Exehange in London, or in case any Adventurer or Members re

Adventurers, Member or Members of the said respective Corporafufing, &c. to tions shall neglect or refuse to pay his, her or their Share of the Pay.

Monies which the said Companies of either of thein (hall (in fursuance of the said firít recited Act and their respe&ive Charters, or any of either of them) call in, for the carrying on of their Trade, at the Time or Times appointed for that Purpose, by the like Notices às aforesaid ; then and in either of the laid Cales it Shall and may be lawful for the said Governor and Company of

Merchants

Merchants of London trading into the East Indies, and the faid English Company trading to the East Indies respectively and their company may. respective Successors, not only to stop the Share or Dividends which stop their Divifhall from Time to Time become payable to such Adventurer or deuds, &c. Adventurers, Member or Members, so neglecting or refufing, of the Fund, Stock or Profits of the said respective Companies, and to apply the same from Time to Time for or towards Payment of the Share of the Money so called in, and which ought to have been paid by such Adventurer or Adventurers, Member or Members so negle&ing or refufing to pay the same, until the same shall be satisfied, but also to stop the Transfers of the Shares of every

and Transfers,

and charge such Defaulter, and to charge such Defaulter and Defaulters

Interest at 6L with an Interest after the Rate of fix Pounds per Centum per per Cent. Annum, for the Monies so by him and them neglected to be paid from the Time the fame were appointed to be paid until the Payment thereof; and the Share and Stock of such Defaulter and Defaulters shall be liable to make good and answer the said Monies so appointed to be paid, and the Interest thereof; and that in case the Principal and Interest shall not be paid within the Shares not paid

in three Months Space of three Months, then the said Governor and Company and the said English Company and their Succeffors respectively as aforesaid, Mall have Power to sell so much of the Stock of such Defaulter or Defaulters as will satisfy and pay the same.

IV. And be it further enacted by the Authority aforesaid, That the said Sum of twelve hundred thousand Pounds agreed to be advanced and paid as aforesaid shall be and be called, deemed and taken to be a further Addition to the capital Stock of the said English Company, and shall be and is hereby exempted from any Taxes, Rates, Impofitions or Afleffments whatsoever.

V. And be it further enacted by the Authority aforesaid, That 1,200,0001 to the united Stock and Fund of the said English Company and their be Tux-free. &c. Successors, by whatsoever Name or Names they shall be called or known, shall be and are by this present Act made subject and liable to the Payment and Satisfaction of all such Debts as are or shall be contracted by the same Company for or upon Account of the said united Stock or Trade.

"VI. And whereas by the said former Acts and Charters it Liability to

was provided, That at any Time, upon three Years Notice, Debts. • after the nine and twentieth Day of September One thousand • seven hundred and eleven, upon Repayment of the said two • millions, and all Arrears of the said Annuities or yearly Pay• ments, the said Duties upon Salt and Rock Salt, and the said • Duties upon &ampt Vellum, Parchment and Paper, and the said • yearly Fund charged thereupon, and the faid Annuities issuing • out of the fame, and the Duty of five Pounds in the Hundred • on imported Goods therein expressed, and all the Corporations * to be erected by or in pursuance of that Ad, and the Benefit

of Trade thereby given or intended to be given to them or any

of them, mall absolutely cease and determine :' Now, to the Encouragement Intent that the said Engii Company and their Successors may

be to Company to encouraged to proceed in their Trade, and may have Time to settle factories, and perform such other Matters and Things as are necessary for carrying on the said Trade to their bett Advan. tage and Profit, it is hereby declared and enacted by the Authority, Former Proviso aforesaid, That the latt mentioned Proviso for Redemption and for Redemption Vol. VI.

Determi. repealed.

trade.

Xx

6.44

Determination of the said several Duties, yearly Fund, Annuities, Corporations and Benefit of Trade, shall be and is hereby repealed and made void ; and that the said Duties upon Salt and Rock Salt, and the faid Duties upon stampt Vellum, Parchment and Paper, and the faid Duty of five Pounds in the Hundred upon imported Gouds, Mall continue, and the said English Company trading to the East Indies and their Successors, by whatsoever Name or Names they fhall be called or known, shall have and enjoy the said yearly Sum of one hundred fifty nine thousand four hundred twenty four Pounds per Annum, and all the Benefit of Trade, Franchises, Privileges, Profits and Advantages whatsoever in respect thereof givea

or granted or intended to be given or granted unto them by the 9 & 10 W. 3. faid Act of the ninth Year of His said late Majesty's Reign, or

by the said Charter of the fifth Day of September in the tenth Year of His faid late Majesty's Reign, or by the said Indenture Tripartite of the two and twentieth Day of July One thousard seven hundred and two, and every or any of then, freed and discharged of and from the faid former Proviso or Condition of Redemption, and all other Provisoes, Powers, Aets, Matters or Things heretofore had, made, done or committed for redeeming, determining or making void the said Duties, yearly Fund, Benetit of Trade, Franchises, Privileges, Profits and Advantages or any of them ; subject nevertheless to the Restrictions, Covenants and Agreements in the faid Act first recited, and the said recited Charters and Iridenture Tripartite or any of them contained, now in Force, and also subject to the general Provisoes or Condition of Redemption hereafter in this Act contained.

[See 3 G.2. c. 14. 11.]

• VII. And whereas several Persons who did subscribe, or do • derive under Persons who did subscribe several Sums, amounting • in the whole to seven thousand two hundred Pounds, Part of • the said two millions, are in respect thereof entitled to five • hundred seventy fix Pounds per Annum, Part of the said Sum of

one hundred and fixty thousand Pounds per Annum, and to a proportional Part of the Trade to the East Indies and other the

Parts aforesaid, have not united their Stock and Fund to the • Stock and Fund of the said Corporations impowered to trade • by a Joint Stock as aforesaid, but do by themselves or others by • them licensed, carry on their Trade for their own separate l'ie

. and Accounts:' It is hereby provided ard enacted by the Separate Stock Authority aforesaid, That the several Persons entitled to the said contii med. Stock, amounting to feven thousand two hundred Pounds, their

Executors, Administrators and A fligns. shall and may peaceably and quietly have, hold and enjoy their said Proportion of the said yeariy Fund and Trade, as fully and effectually as they might tave done if this Act had never been made; nevertheless it hall and may be lawful to and for the faid Englib Company and their Succeffors, at any Time after the nine and twentieth Day of September One thousand seven hundred and eleven, by Writing to be ligned by their Secretary, and to be affixed upon the Royal Exchange in London, to give Notice of their Intention to repay the said Sum of seven, thousand two hundred Pounds to the Perfums

who Thall be interested therein or entitled thereunto at the End of But upon three

three Years after such Notice given ; and in case the said Englijb Years Notice and Repayment Company, at the End of the said three Years, do fully pay aid & Co,

fatisfy

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satisfy to such Persons the said Sum of seven thousand two hundred Pounds at the Guildhall of London, together with all Arrears (if any) of the said yearly Sum of five hundred seventy fix Pounds, which ihall be then due to the faid Persons respectively, then, and upon such Payment made or lawful Tender thereof, the said Stock of seven thousand two hundred Pounds, and the proportional Trade and Fund belonging thereunto, shall be and are by virtue of this separate Sock 1 Act vested and lettled in the said Englifs Company and their to be veiled in Successors ; subject nevertheless to the general Provifo or Condition the Englith of Redemption hereafter in this Act contained, and to no other Company. Provifo or Condition of Redemption whatsoever; any Thing in this Act contained, or any other Matter or Thing to the contrary not withitanding

VIII. Provided always and it is hereby further enacted by the Duty of 51. per Authority aforesaid, That the before mentioned Duty of five Cent to ceale. Pounds per Centum, for or in respect only of such Goods and 9 & 10 W. 3. Merchandizes as shall be imported into Great Britain by the said C. 44 English Company trading to the East Indies, from and after the nine and twentieth Day of September One thousand seven hundred and fourteen, shall ceafe, determine and be no longer collected or paid ; any Thing in this or in the said first recited Act to the contrary in any wise not withitanding.

IX. Provided always and it is hereby declared and enacted Upon three by the Authority aforesaid, That at any Time upon three Years Years Notice, Notice, after the five and twentieth Day of March which shall be and Repayment, in the Year of our Lord One thousand seven hundred and twenty

&c. Corporation

to ceale. fix, upon the Expiration of the said three Years, and upon Repayment hy Parliament, as well of the said Sum of two millions formerly advanced, as of the said Sum of twelve hundred thousand Pounds to be advanced as aforesaid, making in the whole three millions and two hundred thousand Pounds, unto such Companies, Corporations or Persons as shall be then entitled thereunto, and of all Arrears which at the End of the said three Years shall be due for or upon the said yearly Fund of one hundred and fixty thousand Pounds për Annun, then and from thenceforth, as well the said Duties upon Salt and Rock Salt, as the said Duties upon stampt Vellum, Parchment and Paper, and also the said yearly Fund of one hundred and fixty thousand Pounds, and all the Corporations erected by or in pursuance of this or the said former Acts, and the Benefit of Trade by this and the said former Acts and Charters or any of them given or intended to be given to them or any of them, shall absolutely cease and determine ; any Thing herein contained to the contrary notwithstanding. [Repealed, 10 Ann. c. 28. See as to exclufive Trade, 3 G. 2.6. 14. 11.)

X. Provided always and be it enacted by the Authority afore- Not to repeal, said, That this Act or any Thing her:in contained, shall not be 11 & 12 W. 3. deemed, taken or construed to repeal or alter an Act made in c. 1o. the eleventh and twelfth Years of the Reign of the late King William the Third of glorious Memory, intituled, An A& for the more effettually employing the Poor, by encouraging the Manufactures of this Kingdom, or any Clause, Matter or Thing therein contained ; but that the said Act, and every Clause, Matter or Thing therein contained, shall stand, remain and be in full Effect and Force to all Intents and Purposes whatsoever as if this Act X x2

had

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