V

BONDS OF COMMISSIONERS OF THE
LOAN OFFICE, 1758

LEGAL OPINION, DATED MAY 18, 1758, OF STEPHEN
BORDLEY, ATTORNEY-GENERAL OF MARYLAND, GIVEN TO
GOVERNOR HORATIO SHARPE, UPON THE SCOPE OF THE
SURETY BONDS, GIVEN UNDER THE TERMS OF THE CUR-
RENCY ACT OF 1732 BY THE COMMISSIONERS OR TRUSTEES
OF THE LOAN OFFICE FOR THE PERFORMANCE OF THEIR
DUTIES. THE SUFFICIENCY OF THESE BONDS AS A BASIS FOR
SUITS AGAINST THEM WAS A MATTER OF HEATED DIS-
CUSSION BETWEEN GOVERNOR HORATIO SHARPE AND THE
LOWER HOUSE, AS RECORDED IN THIS VOLUME.
May it please Y.^r Excy

MSS.
Archives
of Md.

Portfolio

No. 4

Letter 53
Hall of
Records

I have carefully perused the Act of Assembly in 1732 for Emitting
the Paper Currency; The Act in July 1740 on the Expedition ag.^t
Carthagena; And the Act in June 1746 on y^e Expedition ag.^t Canada :
By the first of the said Acts fo. 7. I find that the Com." or Trustees
of the Loan Office, before they Enter upon the Execution of their
said Trust, are each of them to Enter into Bond with Suff.^t Sureties to
one of the prov.^l Treasurers for the time being, in the penalty of
one thousand pounds each Sterling, payable to the Lord proprietary,
Conditioned for the observance of the Trust by that Act reposed
in them; So that the Bond given by y^e Com.^rs upon their Entring into
their Office, is by an Express Limitation to be Considered only as a
Security for their performance of the Trust reposed in them by the
Currency Act in 1732 And as I do not find either in the Act of 1740,
or of 1746, any reference to their Bonds given under the Act of
1732, Or in either of these Acts any direction that they should give
New Bonds as a Security for their Compliance with either of them;
There seems to me to be no bond from them upon which
Action will lie, for any Monies which it may be said they have Re-
ceived either by Virtue of the Law of 1740, or of 1746.
I am S.^r Y.^r Excys
Most Obed.^t
Hble Serv.^t
S. Bordley
Annapolis 18.^th May 1758.