146 Assembly Proceedings, November 17-December 20, 1769.

Liber R. G.
1769
[The Com-
missioners
to compel
punctual
Payment of
Interest, &c.
which may
be lent out
again.]

And be it further Enacted That the said Commissioners shall and
they are hereby Directed and required to compel the Punctual Pay-
ment of the Interest Annually which shall be due on all Loans to be
made by Virtue of this Act within Three Months after the same
shall respectively become due and for any Interest they shall receive
shall give a receipt to the Person paying the same and in Default
of such Payment of Interest shall cause such Process as aforesaid to
be issued to call in both Principal and Interest and shall and may
Lend out again in Manner aforesaid such Gold and Silver or Bills
of Credit to be emitted by Virtue of this Act as they may from Time
to Time receive in from the Borrowers aforesaid, and more effectu-
ally to enforce the regular & Punctual Payment of the Interest which
may become due on the said Loans and in which the Public is so
greatly interested —

[Commis-
sioners and
their Sure-
ties, liable
on Failure
of Duty.]

Be it Enacted That in Case the Commissioners aforesaid shall not
issue Process on any of the said Bonds by the space of Six Months
next after the Interest on such Bond shall be due and payable then
the said Commissioners shall be Chargeable with and their said Office
Bonds and their Sureties therein be Liable for not only the Principal
Money and Interest due on such Bonds but also Interest on the
Interest as it shall arise till Actual Payment into the said Office of
the Principal and all such Interest on the same Bond and the better
to support the Credit of the said Bills now to be emitted —

p. 25

[When Ex-
change shall
be above
Par, no Bills
of Credit to
be issued out
of the Office,
but the Com-
missioners
may draw
Bills on the
Trustees,
and sell them
for the best
Exchange, in
Gold and
Silver, &c.]

Be it Enacted That whenever the Current Exchange between this
Province and London shall be more than at the rate of four Shillings
and six pence Sterling per Dollar that is when Dollars will not
Purchase Bills of Exchange at that rate or under then and so Long
as the Exchange shall keep so above par it shall not be lawful for the
said Commissioners to Lend out any of the Bills of Credit they may
then have in their Office, And it shall and may be Law full also when-
ever Exchange shall be at or above par that is when Bills of Exchange
will Purchase Gold or Silver at the Sterling Rates aforesaid or the
Bills of Credit aforesaid or under the Rate of four Shillings and
six pence Sterling per Dollar for the said Commissioners to draw
Bills on the Trustees in London as aforesaid for any part of the
Produce of the Ten Thousand pounds Capital Stock that shall not
be Lent out as aforesaid and sell Them for the best Exchange to be
had not under par for Gold and Silver or Bills of Credit as aforesaid
and the same Lend out in manner aforesaid but shall not then Lend
out any of the said Bills of Exchange any Thing herein contained
to the contrary notwithstanding

[Debts due
to the Public
of this Prov-
ince, to be
called in,]

And Whereas it appears to this general Assembly that there is now
in the Hands of William Hunt and Mary Hunt acting Executors
of Thomas Hunt who was sole Executor of William Hunt deceased
Late of London Merchant the Sum of Four Hundred and seventy
Pounds six Shillings and Ten pence Sterling Money belonging to