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Proceedings and Acts of the General Assembly, 1757-1758
Volume 55, Page 533   View pdf image (33K)
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The Upper House. 533

Principal Names

Securities Names

Sums due on
Bond &

Interest due

D.r James Walker.....

.John Howard ........


2..1I.. 2.

U. H. J.

John Inch ............

. William Reynolds ....



Liber No. 35

Brian Philpot jun.r....

. Patrick Creagh .......



May 8

John Hammond Dorsey.

. Nathan Hughes .......


Nathan Hughes .......

John Hammond Dorsey.


£12,757.. 8.. 3..

£ 1873.. 2.. 10.

Your Committee farther report that by the Act entituled, An Act
for emitting & making Current the Sum of £90000 : Current Mony of
Maryland in Bills of Credit the Commissioners are impowered to
lend upon Security such Sum or Sums of Money as remained in
the Office and not particularly applied by that Act under certain
Conditions and Limitations therein mentioned whereof one is that
the principal Money shall be repaid at such Times and in such
Proportions as the Commissioners or Trustees and the Borrower
shall agree not exceeding 7 : Years & the Interest of the whole Sum
paid every Year; notwithstanding whereof the Comm.r suffer large
Sums of Money due to the Public on Bonds to lye in the Hands of
the Borrowers by which Means the Public lose not only the Accumu-
lation of the Interest, but in many Instances the Principal is in Danger
of being lost for Want of bringing Suits on such Bonds in Time.

Your Committee further observe that by the said Act, such of
the Commissioners or Trustees as shall undertake and execute the
said Trust shall be allowed for their Service and Trouble therein

after the Rate of one hundred Pounds each for the first Year and for
every Year after eighty Pounds each, and the same Sum is allowed
to their Clerk which they have constantly drawn and paid quarterly,
notwithstanding that two of the said Commissioners viz.t Charles
Hammond and George Steuart are or have been several Years
Interest in Arrear on Sums of Mony borrowed of their said Office in
their own Names at the Time they drew such quarterly Payments
These Matters your Committee beg Leave to report as being in their
Opinion Misbehaviours and Breaches of Duty in the said Comm :rs
or Trustees which must in all Probability be attended with great
Loss to the Country

NB: On the Day of May 1758: Col: Hammond paid the
Interest due on his Bonds.

Your Committee having also examined into the Account of
William Hunt & John Hanbury relative to that Part of the Trust
directed by the Paper Currency Act to be transacted at London
do find that the Bank Stock stands in the same State & Condition as
reported in April Session 1757 : but by a Letter from the said Hunt
and Hanbury dated at London the of March 1757. and directed

p. 346


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Proceedings and Acts of the General Assembly, 1757-1758
Volume 55, Page 533   View pdf image (33K)
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