The Lower House. 183

P M

The House met
On Reading the Bill Entitled An Act to prevent the Navigation of
Patowmack River Monocasy & Conococheague Creeks being ob-
structed with the Amendments proposed by the Upper House this
House doth not agree therewith

And Ordered that a Message be prepared and sent to the Upper
House signifying the same

Ordered that M^r Johnson and M^r Fielder Gantt do prepare and
bring in a Message accordingly
The Bill Entitled an Act to aid and revive the Proceedings of
Caecil County Court was read the second Time and will pass and was
sent to the Upper House by Col.^o Hyland and M^r Baker

Thomas Ringgold Esq.^r brings in and delivers to M^r Speaker the
following Report Viz
By the Committee appointed to report to the House their Opinion
of what will be the best Way of disposing of the public Money in the
Treasury & paper Currency Office belonging to the Country and of

L. H. J.
Liber No. 52
Nov. 28

the Capital Bank Stock that will belong to the Country after Payment
to all the private Proprietors of the Paper Bills of Credit and also
the best Method to support the Trade and Commerce of this Province
at this Time when Specie is so scarce among us
Your Committee are of Opinion that the most advantageous Way
of disposing of the public Money in the Treasury and paper Currency
Office will be to have it sold for Bills of Exchange and that the Bills
purchased therewith be converted into Capital Stock of the Bank of
England to be an Addition to the Stock already the Property of
this pvince and that to supply the Want of Specie and support the
Trade and Commerce of this pvince Paper Bills of Credit be emitted
redeemable in ten Years by Bills of Exchange to be then drawn on
the Sale of so much of the said Stock as may be necessary to sink
them and to that End your Committee submit the following Scheme
to the Consideration of the Hon.^ble House

Funds for Sinking Bills of Credit

p. 294

D^r

Sterl

To Bills of Credit to be sunk in 10 Years 135,000

Dollars at 4/6 p Dol.^r The Bills to be emitted
in the Denomination of Dollars & Aliquot Parts

£30,375..0.0

of a Dollar ................................

Balance of Stock remaining at the End of ten years
the Property of the Province to the Value of ....

£20,025..0..0

£50,400..0..0

17