October 1646: An Ordinance for securing of all those that shall advance the Two hundred thousand pounds for the service of the State.

Page 884

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

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October, 1646

[13 October, 1646.]

Who shall have the benefit of this security.; Any person may assign his Debt upon the publique Faith.

The Lords and Commons assembled in Parliament, intending to raise the sum of Two hundred thousand pounds, for the present service of the State, for the encouragement of such as shall advance any sum for and towards the same, and to the intent they may have notice thereof, do Declare, That every Person who hath advanced any Moneys, Plate, or Horses, with their Furniture and Arms, upon the Publique Faith, may for every sum of Money he shall further lend for the advancement of the said Sum, be secured a like sum more out of the Receipt of the Grand Excise in course, and the sale of the Bishops Lands, (except Advowsons and Impropriations) which shall first happen, together with the Interest, after the rate of 8 li. per centum, per annum, to be paid every six Moneths out of the Receipts of the Excise, till Principal and Interest be fully discharged, As for example, If there be owing to any person 100 li. Principal, which, with Interest due thereupon for three years past, will make 124 li. he adventuring 124 li. more, may be secured for the whole 248 li. as aforesaid; and so proportionably for a greater or lesser sum, and according to the Interest due thereupon. And for the more speedy re-imbursing of the said Money secured and lent for the purpose aforesaid, That the said Lands of the Bishops (except before excepted) are estated and made over to such Feoffees for the speedy sale thereof, and such Treasurers for the receipt of the Moneys, as may give satisfaction to the Lenders. And the said Lords and Commons do Declare, That it shall and may be lawfull for any Person or Persons to assign his Right and Interest in any sum or sums of Money owing to him upon the Publique Faith, as aforesaid, to any Person or Persons that will advance the like sum, in manner as is before expressed.