406 Assembly Proceedings, July 11-August 8, 1732.

U. H. J.

in Calvert County for the Building of a Church and Vestry Room
and for the purchasing two Acres of Land thus Subscribed

31^st July 1732
Read & Assented to by the Lower House of Assembly
Signed p order M. Macnemara Cl. Lo. Ho.

Read & Assented to by this House & ordered to be so Subscribed.
The paper bill so Endorsed is sent to the lower house by Col Rider
Philemon Lloyd Esq^r from the Conferrence of both Houses Ap-
pointed in Relation to a Paper Currency Bill makes the following
Report

At a Conferrence held at the House of M^r Geo. Neilson in An-
napolis July 29^th 1732

Present

The Honble

Philemon Lloyd Esq^r
Benj^a Tasker Esq^r &
Col. John Rider

of the Upper house

M^r Dulany
M^r Beale
M^r Hooper

M^r Magruder
M^r Sprigg
M^r George

of the Lower house

p. 206

Philemon Lloyd Esq^r Chairman

Your Conferrees have taken into Consideration the Subject matter
of the Conferrence and propose
I: That Bills of Credit be emitted for £72000
2. That the said bills Circulate for fifteen Years
3: That there be paid in by every Borrower a proportionable part
of the Sume to be borrowed to the Number of the fifteen Years
Limitted for the Circulation of the Bills which shall be unexpired at
the time of borrowing the money.
For Example if a Sume be borrowed within one Year after the
passing the Act then one third part must be paid in Annually to the
end all the bills may be brought in by the end of the 15^th Year.
4. That the Interest be 4£ p Cent p Ann. and Annually paid for
the whole surne to be borrowed and the Bills be lent on Real or per-
sonall Security.
5. That what shall be paid in of the principal for the first five years
be remitted and afterwards to be destroyed as it comes in.
6. That what shall be paid in for Interest in the whole time be
remitted.
7. That there be care taken to Support the Credit of the Bills &
in order thereto that all Duties payable for discharging the publick