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No. 38 An Act for limiting the Time for sinking the Paper Bills of Credit
Ex.d now Current in this Province and other Purposes therein men-
tioned.
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Whereas it is necessary to close the Office established by the Act
of Assembly entituled an Act for emitting and making Current
Ninety thousand Pounds Current Money of Maryland in Bills of
Credit, and that some Time should be limited for bringing in and
sinking such of the said Bills of Credit as are not yet brought in;
and whereas there is a considerable Sum of Money in Specie the
Property of the Country now in that Office and also a considerable
Sum of Money likewise belonging to the Country in the Hands of
the Treasurers bringing in no Interest when if both these Sums were
invested in Capital Bank Stock, the Dividends thereof would be
increasing and assist in paying off the Publick Debt now due from
the Country
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[Preamble]
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Be it therefore enacted by the Right Honourable the Lord Pro-
prietary by and with the Advice and Consent of his Lordships Gov-
ernor and the upper and Lower Houses of Assembly and the
Authority of the same that the Treasurers of this Province for the
Time being respectively shall and are hereby required on or before
the first Day of February next to pay into the said Commissioners
or Trustees at their Office all the Publick Money they have in their
Hands belonging to the Province not particularly appropriated
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[Treasurers
to pay all the
Public
Money in
their hands
into the
Paper Office
except &c]
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except five hundred Pounds which shall remain in each Treasurers
Hands, For which Monies so paid the said Commissioners or Trus-
tees shall give particular Receipts to the said Treasurers expressing
in what Specie whether in Paper Bills of Credit, Gold or Silver,
or what Part in each or either of those Species shall be so paid
and enter a particular Account thereof in their Books to the Credit
of this Province
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p. 588
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And be it further enacted by the Authority aforesaid that the
said Commissioners or Trustees shall and are hereby impowered
and required as soon as may be and before the last Day of April
next as well with the Money so as aforesaid to be paid in by the
Treasurers as all the Gold and Silver belonging to the Country
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[And to
Purchase
Bills of
Exchange]
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