Acts. 145

missioner's Bills for the Purpose aforesaid any Thing in the said
recited Act to the Contrary notwithstanding

Liber R. G.
1769

And Whereas it appears to this Assembly by the account Lately
received from the Trustees in London that this Province hath now
Thirty four Thousand Pounds Capitol Stock in the Bank of England
twenty four Thousand of which with its Accumulation will be Suf-
ficient to sink the Bills of Credit Lately emitted and now in Circu-
lation at the Time appointed by Law for them to be called in And
that great advantage may be gained to this Province by selling out
the other Ten Thousand pounds Capital at this Time when the
Price of Stock is very High and putting out the Sterling Money
to Interest in the Province and Trade thereby be the better supported
and carried on —

[Amount of
the Capital
Stock be-
longing to
this Prov-
ince;]

Be it Enacted That the Trustees aforesaid residing in London
shall be and are hereby Authorized and required to sell out the said
Ten Thousand pounds Capital Bank Stock in such Sums as they
may Think most to the Advantage of this Province for the best
price in Money that can be got for the same at not Less than one

[Part of
which to be
sold but not
under 150
Per Cent.]

Hundred and Fifty pounds Sterling for one Hundred pounds of the
said Capital Stock and the produce thereof retain in their Hands
for Payment of the Bills of Exchange herein after directed to be
drawn on them by the Commissioners aforesaid and of such Sales
immediately advise the said Commissioners

p. 24

And be it further Enacted That the Commissioners aforesaid
after they shall be so advised of the Sale of the said Bank Stock or
any part thereof on the Application of any person or Persons residing
and Inhabiting within this Province to borrow Sterling Money in
Bills of Exchange are hereby required to Lend out upon Interest on
Bond with good Security in the same Manner in any Sums and on
the same Terms and Conditions as herein are directed respecting the
Loan of Bills of Credit to be emitted by Virtue of this Act Bills of
Exchange drawn by the said Commissioners on the Trustees afore-
said payable at Thirty days Sight to the amount and Value in the

[The Com-
missioners,
on Advice
of such Sale,
to lend out
Bills of Ex-
change,]

whole of the Produce of the said Ten Thousand Pounds Capital
Stock or such part thereof as shall be sold as aforesaid to be paid
in again in Gold and Silver or Bills of Credit now in Circulation or
to be emitted by Virtue of this Act —

[which may
be paid in
again in Gold
or Silver,
&c.]

And be it further Enacted That the said Commissioners as soon
as may be after they shall be appointed by Virtue of this Act shall
Transmit to the Trustees residing in London by different Opportuni-
ties two Copies of this Act and shall before any Money or Bills of
Exchange shall be by them issued give Notice by Advertisement in
the Maryland Gazette for at Least four Weeks Successively of the
Times they shall begin to issue such Bills of Credit or Bills of
Exchange respectively —

[Two copies
of this Act
to be trans-
mitted to the
Trustees and
4 weeks No-
tice to be
given before
any Bills of
Credit, &c.
shall be
issued.]