Fourteen Hundred Thousand Pound, made into One Hundred and Forty Thousand Bills, of Ten Pound apiece, to be given out for so much, as Occasion requires, and to be paid as Chance shall Determine in Course, out of 1515000l. to be Raised on a Duty on Malt, the odd 115000 l. being left to be only made use of to pay Interest, Premium and Charge

Author: Thomas Neale

Source: Fourteen Hundred Thousand Pound, made into One Hundred and Forty Thousand Bills, of Ten Pound apiece, to be given out for so much, as Occasion requires, and to be paid as Chance shall Determine in Course, out of 1515000l. to be Raised on a Duty on Malt, the odd 115000 l. being left to be only made use of to pay Interest, Premium and Charge (London: 1697).

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[Normalized Text] [Catalogue Entry]

<1>

Fourteen Hundred Thousand Pound, made into One ^[1] Hundred and Forty Thousand Bills, of Ten Pound apiece, to be given out for so much, as Occasion requires, and to be paid as Chance shall Determine in Course, out of 1515000l. to be Raised on a Duty on Malt, the odd 115000l. being left to be only made use of to pay Interest, Premium and Charge.

1st. THAT the Fourteen hundred thousand Pounds be Divided ^[2] into One hundred and forty thousand Ten Pound Bills, (Numbred from One to One hundred and forty thousand) with an Interest of One Farthing a Day on every such Bill, from the 24th June, 1697. to be Paid sooner or later, as Chance shall determine the Course, but to be Cleared in one Year from that time.

2dly, That the said Bills may be disposed of to such Uses as the Money ^[3] to be Raised by the Malt Duty is to be Paid out for.

And that the Persons that are to receive such Money may be all equally ^[4] satisfied at the same time they are so paid it, and may have such a Share of 4 per Cent. more, as Fortune shall give them.

Let Fifty six thousand Pounds be Divided into Benefits, as herein after set down, and belong to such Numbers as they shall in the usual manner be Drawn for, on the 2{0th} of July, 1697, or sooner, if all the One hundred and forty thousand Ten Pound Bills {illeg} disposed of.

The Division thus:

		l.
To the first Number Drawn, besides the Benefit may come up with it	}	150
One Ticket of		1000
2 of each 500l.		1000
3 of each 400		1200 ^[5]
4 of each 300		1200
6 of each 200		1200
51 of each 100		5100
103 of each 50		5150
130 of each 30		3900
400 of each 20, and		8000
2800 of each 10		28000
3500
Besides their own 10l. a piece, which will make every 20l. a 30l. and every 10l. a 20l. Prize.
The last Ticket Drawn, besides the Benefit may come up with it	}	100
Money		56000

Which 56000l. so put into Benefits, as also every other 10l. Bill ^[6] with its Interest, to be Paid in Course out of such Money as shall be <2> Paid and Received in Specie for the said Duty on Mault, before the 24th of June, 1698. as far as the same will Extend.

And for Paying and Discharging the Benefits and Ten Pound Tickets with their Interest, that shall remain unpaid and unsatisfied, on the said 24th of June 1698. if it may be Enacted, That all the Money arising from all and every the Aids (the 3s. Aid, and that comprised in the Act for making good the Deficiencies of Parliamentary Funds, and to be comprised in the Leather Act only except) given, or to be given this Sessions; and which shall come in and be paid after the 24th of June, 1698: over and above what shall be employed for the paying off and discharging Exchequer Bills, shall be used and employed, for and towards paying the aforesaid Benefits and Bills. And

That the said Benefits and Ten Pound Bills (whilst any continue unpaid) shall, from and after the said 24th of June, 1698. be taken and received in all such Aids so given this Sessions, except as before is excepted, for as long as the same shall continue; and when so taken in any of the said Aids, to be immediately Cancell'd as the Exchequer Bills are Enacted to be.

This will not Enterfeer with the Exchequer Bills, it obstructs no Appropriation of any Revenue yet made, and will ensure the payment of such Benefits and Ten Pound Bills ('tis believed) to a full Satisfaction.

And that all Persons concerned, may be fully assured of their being equally dealt with; and that they shall be paid in such Course as their ^[7] Fortune allots, before the general Drawing begins, 140 Tickets Numbred from 1 to 140, signifying the First, Second and Third (and so to 140) thousand, shall be put and well mixt in a Glass, and thence Drawn, and such Number as comes first (and so successively) out, shall intitle the Owner of the Benefit or Ten Pound Bill, comprised in such 1000, to be first paid off and cleared.

And if the Security and Course of Payment be settled as above is exprest, it is not to be doubted, but that 'twill presently answer the full 1400000l. (as before is Proposed) to content.

Now if the Publick Good does require the bringing in of Plate and ^[8] old Money to be Coined, for encreasing the Specie; and that 40 or 50000 of such 10l. Bills, may be disposed of for New Mill'd Money, or Hammer'd Silver Money or Plate, with the Hall Mark upon it, or otherwise Sterling, at six Shillings the Ounce, it will in all probability soon bring in such 4 or 500000l. and please those that so part with their Silver.

This to be Proposed and Approved of at the Committee for the Malt Bill, or not to be done at all.

April 3d. 1697.

Tho. Neale.

^[1] 1400000l. clear Money, made and secured by 1515000l. to be Raised on Malt, and 115000l. being left for Interest, Premium and Charge.

^[2] 1400000l. made into 140000 10l. Bills, to be paid in Course and Cleared in a Year.

^[3] To be paid out as Money.

^[4] All equally dealt with, and 4 per Cent. Premium given.

^[5] The Benefite.

^[6] How the Benefits and 10l. Bills, (without <2> prejudice to the Exchequer Bills) are to be paid in course, and till paid, to Satisfaction secured.

^[7] How the course of Payment will be. with Justice ascertained.

^[8] How 4 or 500000l. (if need be) may, in Specie be had, and how Persons possest of old Money and Plate, may (besides other advantages) make 6 s. of it an Ounce.