June 1649: An Act touching the first 400,000l. charged on the Receipt of the Excise.

Page 158

Acts and Ordinances of the Interregnum, 1642-1660. Originally published by His Majesty's Stationery Office, London, 1911.

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June, 1649

[27 June, 1649.]

Ord. of 13 Oct. 1646, recited.; Ord. of 16 Nov. 1646.; Excise to be charged with sums paid out of proceeds of sale of bishops' lands to lenders on the public faith.

Whereas the Lords and Commons assembled in Parliament, by their Ordinance of the thirteenth of October, 1646. Intending to raise the said sum of 200,000l. for the service of the State; Did Declare, That every person who should advance Moneys, Plate, &c. upon the Publique Faith, might for every sum of Money hee should so lend, bee secured a like sum more out of the Grand Excise in course, or by Sale of the Bishops Lands, which should first happen, together with interest, according to 8l. per centum, per annum to be paid every six months out of the Receipts of the Grand Excise, till Principall and Interest bee fully discharged. And whereas by the said Ordinance of the 16th of November, 1646. It is Ordained, That in case the 400,000l. so secured, or such part thereof, as shall not be satisfied by the sale of the said Bishops Lands, that then the Commissioners for the Grand Excise, should bee, and are thereby charged and chargeable to pay the said sums, with interest as aforesaid, or so much thereof as should be due and unpaid, and should begin to pay the same, when they should have in ready money one fourth part of the whole Debt, that should be owing to the lenders in course, as they did pay in their moneys, with the interest then due. And whereas by the sale of the said Lands the sum of 350,000l. or thereabouts, is already satisfied to the said Lenders, together with interest, according to 8l. per centum per annum, which therefore ought not to stand charged on the said Excise as a Debt to bee paid the said lenders; but neverthelesse may remain and bee charged for the service of the Common-wealth: The Parliament taking the same into consideration, together with the pressing necessities for the speedy reliefe of Ireland, Doe Enact and Ordaine, and bee it Enacted and Ordained, by the authority of this present Parliament, That so much of the said 400,000l. as is already, or shall be satisfied to the said Lenders by the Sale of the said Lands, shall neverthelesse stand charged upon the said Receipt of the Excise for the service of the Commonwealth, to bee paid by the said Commissioners in course as is directed in the said Ordinances and as ought to have been paid to the said Lenders, had they not been satisfied by the Sale of the said Lands.

And it is hereby further Enacted and Ordained, That the said Commissioners do issue out the said sums hereby declared to stand charged as aforesaid, for the service of the Commonwealth, according to such Orders and Directions as they shall from time to time receive from the Councell of State; And the Receipt of the person or persons so authorized to receive the same, shall be a good discharge to the said Commissioners.