Great Britain -- History -- 18th century -- Sources; Pitt, William, Earl of Chatham, 1708-1778; Walpole, Robert, Earl of Orford, 1676-1745
They now humbly Offer, that over and above the said £3,500,000, They
will farther give and pay into his Majesty's Exchequer, for the use of
the Publick, by four Equal Quarterly Payments on the days Mention'd in
their said former Proposal, £500,000 more certain, and also upon all the
said Annuities for certain Terms of Years which this Company shall take
into their Capital Stock, before the first day of March, 1721, after the
rate of four Year and half purchase, by four Quarterly Payments which if
all the said Annuities be taken into the said Company, will amount to
the Sum of £3,567,503 or thereabouts, to which being added the said
£3,500,000 and the said further Sum of £500,000 will amount in the whole
to the Sum of £7,567,500 or thereabouts.
IV. That whereas in the eleventh Article of their former Proposal, they
did submit that so much as shall arise by the sinking Fund before
Midsummer 1727 may from and after paying Off such Part of the Publick
Debts, as may be Redeemed within that time, and which shall not be taken
into this Company, be applied at the end of every Year towards paying
off, in even One Hundred Thousand Pounds, that part of the Company's
Capital, which carries £5 _per Cent. per Ann._
They do humbly offer in lieu thereof, that if this Honourable House
think fit to make their to be Increased Capital, Redeemable at Midsummer
1724, That the said sinking Fund may till that time be applied half
Yearly, to the paying off that part of the Company's which is to carry
£5 _per Cent. per Ann._
V. As to the twelfth Article of this Company's former Proposal, Relating
to the Circulating of £1,000,000 in Exchequer Bills Gratis, and likewise
pay the Interest for that Million, so as no other Exchequer Bills be
issued than what shall be Circulated by the Credit of the Exchequer,
without the aid of Subscription or Contract.
VI. And Lastly, that this Honourable House may be fully satisfied of the
sincere Intentions of this Company to use their best Endeavours to take
in all the said Annuities for ninety-nine, and ninety-six Years, which
amount to £667,705 8s. 1d. _per Ann._ This Company do further Humbly
offer to give and pay into his Majesty's Exchequer, for the Service of
the Publick, by four Equal Quarterly Payments, one Years Purchase upon
all such of those Annuities as shall happen not to come into the
Company's Capital within the time aforesaid.
Public-domain text, read in full here on John Shaqi.
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