.MTAzNQ.Njk0NjM

From Newberry Transcribe
Revision as of 21:31, 16 August 2019 by 207.38.94.30 (talk)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

and the twenty fifth day of June in the Year seventeen hundred and seventy seven should nominate and appoint a Commissioner to receive and take in the said Bills of Credit and to draw Bills of Exchange for the satisfaction and discharge thereof and that any person or persons in possession of any number or quantity of the said Bills of Credit should be initit [letters missing] on producing the same before such Commissioner between the twenty fifth day of June seventeen hundred and seventy seven and the twenty fifth day of December next there after inclusive to have and received from the said Commissioner Bills of Exchange for the full value of the said Bills of Credit so produced at the rate of four Shillings and six pence Sterling per Dollar to be drawn by the said Commissioner upon the Trustees residing in London and for the sure payment of the said Bills of Exchange it was by the said Act directed that the said Trustees should accept the said Bills and to enable them to pay the same when due the said Trustees were by the said Act Authorized between the acceptance and the time of payment of the said Bills to sell and dispose of any Quantity of the Capital Stock of the Bank of England belonging to this State that might be necessary to raise Monies for the payment of the said Bills of Exchange And Whereas this General Assembly are desirous of complying (as far as may be in their power) with the public Faith and Credit to the holders of the said Bills, Be it enacted that the Treasurer of the Western Shore shall be and he is hereby appointed Commissioner for the purpose of complying with the directions of the said Act and he is hereby invested with all the power and Authority given or intended to be given to the Commissioner to be appointed by the Proprietary or the Governor agreeable to the directions of the said recited Act, and Whereas the Trustees aforesaid or Trustee herein after directed to be appointed may be prevent ed by the Government of Great Britain from Selling the Bank Stock for Payment of the said Bills of Exchange and it is therefore reasonable the holders of the said Bills of Credit who are compelled by this Act to bring in the same should have it in their option either to receive Bills of Exchange drawn as by this Act is provided or Certificates in payment for the said Bills of Credit. Be it enacted that any possessor of the said Bills on producing the same to the Commissioner appointed in virtue of this Act at any time on or before the first day of June next shall receive from him either Bills of Exchange

                                (agreeable)