June 1649: An Act for borrowing 150,000l. upon the first 400,000l. charged on the Excise.

Pages 159-160

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

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June, 1649

[29 June, 1649.]

Act of 27 June 1649, recited.

Whereas by an Act of this present Parliament made the 27th of this present June, It is Enacted and Ordained, That so much of the sum of 400,000l. secured unto the Lenders and Advancers of the 200,000l. by Ordinance of Parliament of the 13th October, 1646. as is already, or shall be satisfied to the said Lenders, by the sale of the Bishops Lands, shall neverthelesse stand charged upon the Receipts of the Grand Excise, for the service of the Commonwealth, to be paid by the Commissioners of Excise in course, as is directed by like Ordinance of Parliament of the 16th October, 1646. to have been paid to the said Lenders, had they not been satisfied by the sale of the said Lands, of which said sum there is already satisfied the sum of 350,000l. or thereabouts, by sale of the Lands aforesaid.

Moneys charged by recited Act to be security for loan of 150,000l. for Ireland.

And whereas the present and pressing necessities of Ireland, do require a speedy supply of money, which cannot bee delayed untill the course of the said Ordinance of the 13th October, 1646 (though now near at hand) doth fall. It is Enacted and Ordained by this present Parliament and authority thereof. That if any person or persons shall advance and lend any sum or sums of Money towards the raising of 150,000l. for the service of Ireland aforesaid, the said person or persons shall be secured and reimbursed the same out of the moneys so standing charged for the use of the Commonwealth, upon the Grand Excise, by the said Act of the 27th of this present June, and in course of the said Ordinance of the 13th October, 1646. together with interest for the same after the rate of 8l. per centum, per annum, to bee paid every six moneths for so long time as they shall remain unpaid.

Moneys advanced to be paid to Treasurers to be appointed by Council of State

And it is further Enacted and Ordained by Authority aforesaid, That the Moneys so advanced and lent upon the credit of the said Act, shall be paid unto such Treasurer or Treasurers as the Councell of State shall under the seal of the said Councell appoint an the Receipt or Receipts of the said Treasurer shall be a sufficient authority unto the person or persons lending and advancing the same, to require and demand the respective sum or sums by them and every of them advanced and lent, together with interest as aforesaid, of the Commissioners of Excise and New-impost, who are hereby authorized to pay the same accordingly, in such course as the said respective sum or sums shal be lent and advanced, not staying until they have one fourth part of the whole debt in Cash, but proceeding in payment thereof, as fast as money shall arise upon the said Act; anything in the said Act of the 27th of this present June to the contrary notwithstanding; And the Receipt or Receipts of the said person or persons that shall advance any sum or sums upon the credit aforesaid; together with the Receipt of the Treasurers aforesaid; testifying the sum or sums by him or them respectively lent, shall be a sufficient discharge unto the Commissioners of Excise, for payment of the said Principall and interest.

And be it further Declared and Ordained by Authority aforesaide That neither the said sum or sums so advanced and lent, nor any other sum or sums whatsoever, remaining and standing now charged upon the Grand Excise, and untransferred upon sale of Deans and Chapters Lands shall be taken off, or transferred from the said Excise upon any other Security whatsoever, nor bee paid otherwise then in their true and proper courses, wherin they were first charged, upon any exigent or occasion whatsoever.