The National Register.
London, England, 1808-05-22 00:00:00

MAY

7"

DAIDAKELLES. t • • -
Mi. Ter ton then, in a speech of some length, but delivered
in a very low tone, proceeded to descant on the Papers relating
to the Expedition to the Dardanelles, on which he founded
several revolutions, which gave rise to a debate, in which Mr.
Thomas Grenville, and several other Members, spoke. After
which Mr. Taylor rose in reply. The question WWI then ne-
gatived without a division.

OFFICIAL PAPER.

EDECTION OF THE NATIONAL DEBT,
By Exchange of 3 per Cent. Bank Annuities fur Life Annuities.
Veneris, 13° die Mail, 1808.
1. That it would tend to a more speedy and efficient reduction
of the National Debt, and would at the same time be of material
accommodation and convenience to the Public, if every pro-
prietor of 3 per cent. Consolidated or Reduced Bank Annuities.
were at liberty to exchange, with the Commissioners for the
Reduction of the National Debt, such Bank Annuities for a Life '
Annuity during the continuance of a single life, to he named by
such proprietor, or for a life annuity during the continuance of
the lives of two persons, to be named by such proprietor, and
of the life of the longer liver of such two nominees.
2. That, in older to give effect to the aforegoing Resolution,
every proprietor of 3 per cent. Consolidated or Reduced Bank
Aunaities, who shall be desirous of exchanging any such Bank
Annuities fur a Life Annuity on the continuance of a single life,
shall, by transferring to the -Commissioners for the Reduction of
the National Debt any such Bank Annuities, he entitled, during.
the continuance of his or her life, or of the life of some other
person to be named by him or her, to receive (under such re-
gulations as Parliament may deem it expedient to adopt) for
every 1001. of such Bank Annuities, and so in proportion for •
any greater sum than 1001. of such Annultih, transferred to the
said Commissioners, a Life Annuity of such annual amount,
according to the age of the nominee, and the average price of
such Bank Annuities on the nearest open day preceding the day
of the transfer thereof.
3. That, in order to give further effect to the aforegoing Reso-
lution, every proprietor nf 3 per cent. Consolidated or Reduced
Bank Annnities, who shall be desirous of exchanging any such
Bank Annuities for a Life Annuity, in the continuance of the
lives of two persons, to be named by such proprietor (of whom
such proprietor may be one), and the life of the longer liver of
them, shall, on transferring to the Commissioners for the Re-
duction of the National Debt any such Bank Annuities. be en-
titled, during the continuance of such two lives, and of the life
of the longer liver of them, to receive (under such regulations
as Parliament may deem it expedient to adopt) for every 1001
of such Rank Annuities, and so in proportion for any greater
sum than 1001. of such Annuities, transferred to the said Com-
missioners, a Life Annuity of such annual amount, according to
the respective ages of such two nominees, and the average price
of such Bank Annuities on the neared open day preceding the
day of the transfer thereof.
4. That no person shall be admitted to be a nominee, either
for the grant of an annuity for the continuance of a single life,
or for the grant of an annuity for the continuance of two lives,
and of the life of the longer liver of them, who shall be under
the age of thirty-five years.
5. That the dividends payable in respect of the Bank Annul-
tie, which shall be transferred to the Commissioners fur the
Reduction of the National Debt, in exchange for Life Annuities,
shall be received by the said Commissioners, and shall consti-
tute a part of the funds applicable to the Reduction of the Na-
tional Debt; and that out of the said funds applicable to the
Reduction of the National Debt the said Commissioners shall
pay the respective Life Annuities granted in exchange for such
Bank Annuities during the continuance of the respective lives
for which the same shall be payable; and that the said respec-
tive Life Annuities shall be payable half-yearly at the Bank of
England, on the same days on which the Dividends on the Stock,
transferred for the purchase thereof may be payable in every
year; and the first payment of every Annuity shall commence
on the same day on which the first Dividend on the Bank An-
nuities so transferred shall be payable to the said Commissioners;
and that upon the death of any single nominee, or of the survi-
vor of any two joint nominees, a sum equal to one fourth part
of the Annuity dependant upon his or her life shall be paid to
the persons entitled to such Annuity, or his or her Executors or
Administrators as the case may be, provided the same shall be
claimed within two years after the death of such single or sure

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