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Proceedings and Acts of the General Assembly, October 1773 to April 1774
Volume 64, Page 249   View pdf image (33K)
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Acts. 249


And be it enacted That the said Bills of Credit by this Act to be
emitted shall not continue in Circulation for a longer Time than
Twelve Years from the tenth Day of April next And for the sink-
ing the same the Commissioners aforesaid are hereby required
within the first six Months of the last Year of the said twelve Years
to call in all the Debts due in the said Office on Loans by Virtue
of this Act to the End the said Bills of Credit may be brought in
and burnt or destroyed And that within the Last six Months of the
said twelve Years to wit at any Time between the Tenth Day of
October which shall be in the Year of our Lord One thousand seven
hundred and Eighty five and the tenth Day of April which shall
be in the Year of our Lord One thousand seven hundred and Eighty
six any person or persons who shall have the Property in or Pos-
session of any Number of the said Bills of Credit to be issued by
Virtue of this Act shall be hereby entitled by Delivering the same
to the said Commissioners to Demand and Receive from them the full
Sterling amount of the said Bills of Credit so delivered either in good
Bills of Exchange at forty Days Sight to be drawn by the said
Commissioners on the Trustees residing in London mentioned in
the said Act Entitled an Act for emitting Bills of Credit and other
purposes therein mentioned or in Gold and Silver as Rated in and
by that Act

Liber R. G.

1773
[Bills of
Credit emit-
ted by this
Act, not to
continue in
Circulation
longer than
12 Years
from the
10th of
April next,
&c. but
Debts to be
called in the
first Six
Months of
the last
Year.]

And be it enacted that it shall not be Lawful for the said Com-
missioners to lend out any Bills of Exchange Bills of Credit or Gold
or Silver within the last Year of the twelve Years aforesaid and
they are hereby empowered within the said Last Year but not before
to Receive in Good Bills of Exchange at not more than forty Days
Sight payable at some House in London if offered in Discharge of
any of the Loans by this Act directed which Bills they shall as soon
as may be remit to the Trustees in London to be presented for
payment and the said Trustees are hereby required if any of the
said Bills of Exchange are not paid to return Protests immediately
to the said Commissioners to recover the Money and Damages that
may be due thereon and if paid to keep the Money in their hands
to the Credit of the Public of this Province out of which to pay
such Bills as the said Commissioners shall draw on them to the Pro-
prietor or Possessors of such Bills of Credit as shall be brought
in And the said Commissioners are directed to draw Bills of Ex-
change at forty Days sight on the said Trustees for the purpose
aforesaid.

[Bills of
Exchange,
&c. not to
be lent out
within the
last Year,
but then,
and not be-
fore, to be
received in
Discharge
of Loans,
&c.]
p. 291
[Trustees in
London to
pay Bills
drawn by
the Commis-
sioners, &c.
to the Pro-
prietors of
Bills of
Credit.]

Provided Nevertheless that the Bond or Bonds for which such
Bills of Exchange may be tendered or offered shall not be given up
nor be understood to be discharged until Advice shall be received of
the Payment of such Bills in London but that there shall be an in-
dorsement made on the Back of the Bond for which such Bills
of Exchange shall be paid of the Receipt thereof and when the

[Proviso.]



 
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Proceedings and Acts of the General Assembly, October 1773 to April 1774
Volume 64, Page 249   View pdf image (33K)
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