250 Assembly Proceedings, November 16-December 23, 1773.

Liber R. G.
1773

said Bills shall be paid in London or if protested when the Sum
Damages and Charges of Protest shall be paid and satisfied and
not before the said Bond shall be discharged and given up and
until then shall stand and remain as a Lien and Security as fully
and effectually as when first executed And the said Commissioners
shall keep a fair Account of all the said Bills of Credit so to be
received in as well in Discharge of Debts aforesaid as for which
they shall have drawn Bills of Exchange or paid Gold and Silver
and Lock up the said Bills of Credit in the Iron Chests aforesaid
to be examined cancelled and destroyed by a Committee of Assembly
at the next Session after Receipt thereof

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

And be it enacted that the said Commissioners shall and they are
hereby Directed and required to compel the punctual payment of
the Interest Annually which shall be due on Loans to be made by
Virtue of this Act within three Months after the same shall respec-
tively become due and for any Interest they shall receive shall give
a Receipt to the person paying the same and in Default of such pay-
ment 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 except such as are herein
directed to be retained in the said Office

And the more effectually to enforce the Regular and 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
in Case of
Failure of
Duty.]
p. 292

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 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 it arise till actual Payment into the Office of
the Principal and all such Interest on the said Bond

[When the
Exchange
shall be
above Par,
no Bills of
Credit to be
lent out of
the Office.]

And the better to support the Credit of the said Bills now to be
emitted 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 any thing herein con-
tained to the Contrary Notwithstanding.

And be it enacted That all Monies and Bills of Exchange which
shall remain in the said Office or in England in Stock or in the Hands