The Sun.
London, England, 1847-02-08 00:00:00

E3IPOWERING THE TREASURY TO RAISE TIY LOANS NOT

EXCEEDING 16,000,0001.
8. And be it enacted, that it shall be lawful for the Com-
missioners of the Treasury, if and when they shall so think
tit, to raise from time to time such sum or sums of money as
shall be required for any advance to be made under the pro.
visions of this Act, or for the repayment of any such advance as
,hall have been made, as aforesaid, out of the Consolidated
Fund, or of any such Exchequer-bills as shall have been issued
is aforesaid, under the provisions of this Act, and to grant, as
the consideration for such sum or sums of money, redeem-
able perpetual annuities, or annuities for terms of years
(which said annuities, respectively, shall be transferable and
payable at the Bank of England), upon such terms and con-
ditions, and under such regulations as to ,the time or times of
paying the said sums of money agreed to be raisen, as may
be determined upon by the said Commissioners of the Tree.
sure, not exceeding, in the whole, the sum of 16,000,000/.
Provided, nevertheless, that the rate of interest at which the
said sums of money shall be from time to time raised shall
be regulated and governed by the price of the respective re-
deemable perpetual annuities or annuities for terms of years,
on the day preceding (or on the nearest preceding day, if it
shall so happen that there shall be no price of such said
annuities respectively on the day immediately preceding) the
day of giving notice of raising such sum or sums of money,
and that the rate of interest to be allowed to the contribu-
tors for such sum or sums of money shall in no case exceed
five shillings per centum per annum above the current rate of
interest produced by the market price of any such re-
deemable perpetual annuities or annuities for terms of
years existing at the time, and in which such contracts s,iall
be made.

PROVISIONS AS TO MODE OF RAISING THE SUMS REQUIRED
BY LOANS OR BY COMMISSIONERS FOR REDUCTION OF
NATIONAL DEBT.

9. Provided always, and be it further enacted, that before
raising any such sum or sums by redeemable perpetual
annuities, or annuities for terms of years (unless the same
shall be subscribed or contributed as hereinafter mentioned
by the Commissioners for the Reduction of the National
Debt), the said Commissioners of the Treasury are hereby
required to give public notice of the intention to raise such
sum, or such part thereof as shall not be subscribed or con-
tributed as aforesaid, through the Governor or Deputy-
Governor of the Bank of England, of their desire to receive
biddings for anv such annuities, which said biddings and
the mode of raising such annuities shall be conducted in
such and the like manner as has usually been practised
with respect to the raising of money by way of annuities
for the service of the public. Provided also that no con-
tract or agreement for raising any sum or sums of money
by annuities as aforesaid shall be entered into, except
during the sitting of Parliament ; and when the same
should have been entered into all proceedings, tenders, and
contracts respecting the same shall be forthwith laid before
Parliament.

10. And be it furth-r enacted, that whatever redeem tble
annuities, or annuities for any term of years, which shall be
created from time to time by the sums of money raised by
virtue of this Act, which said redeemable annuities, and
annuities for terms of years so created, shall be of the like
description of some redeemable annuities, or annuities for
terms of years existing at the time of raising such sum
or sums of money shall be deemed and taken to be redeem-
able annuities, or annuities for terms of years, of the like
description then existing, in which such sum or sums shall
be agreed to be raised.
11. And be it further enacted, that all the several redeem-
able annuities and annuities for terms of years, which shall
be created from time to time, by virtue of this Act, shall be
deemed and taken to he and shall be added to and form part
of the like redeemable annuities or annuities for terms of
years, in which such sums of money shall be raised, and shall
be subject to all the clauses, conditions, provisions, directions,
regulations, and periods of payment; as fully and effectually,
to all intents and purposes, except .as altered and varied by
virtue of this Act, as if the said clauses, conditions, provisions,
directions, regulations, and periods of payment were severally
repeatel and re-enacted in this
12. And be it enacted, that the-,et;mmiasioners for the Re-
duction of the National Debt mafsubscribe and contribute
from time to time towards the raising any sum or sums of
money to be raised under the provisions of this Act, any part
of the monies which shall be at 4ny time standing in their
names in the books of the Governor and Company of the
Bank of England, under and by.-gvirtue of an Act passed in
the 9th year of the reign of King&eorge IV., and intituled
" An ACt to consolidate and amend the Laws relating to
Savings Banks," and of another! Act passed in the 10th
yamend the Laws re-
ge IV., intituled,
?"eAarn Aofct the
eo
rceoignnsolidorate Kaingnd. m

lath g to Friendly- Societies," and also to sell and dispose of
the Bank Annuities and Exchequer-bills or any part thereof
which may be now standing, or may hereafter stand in their
names in the books of the said bank, in pursuance of the said
respective Acts, and with the proceeds thereof, may subscribe
and contribute such monies from time to time, or any part
thereof, towards the raising the sums of money which
may be required from time to time under the provisions of
this Act.

belr3a.i
sAe dfrboemi t
tehnuaec tt eod
t,
itmh
ea t
ba3l_l
s asums
aforesa d, under the provisions of this Act, shall be paid into
the Bank of England, to the account of the Commissioners
of the Treasury, under the title of the Irish Railway Loan
le
Account, and the cashiers of the Benk of
England are hereby
ofof moneysuch annuities which
shall
;
required to receive all such sums of money, and to place the
same from time to time to the said account ; and the Com-
missioners
of the Treasury shall, from time to time, cause to
be transferred from the said Irish Railway Loan Account to
the Bank of Ireland, to the said Railway Advances and Re.
payment Account, such stuns as shall be required for the
purposes of this Act.
14. And be it enacted, that the cashier and cashiers of the
Governor and Company of the Bank of England, who shall
have received, or shall receive, any part of any cuntribution
towards any sum or sums of money, to be raised by annuities
as aforesaid, under the provisions of this Act, shall give a
receipt or receipts in writing to every such contributor for all
such sums, and that the said receipts so to be given shall be
assignable at any time for and during such period as shall
and may be determined upon by the said Commissioners of
the Treasury, and the said receipts shall be in such form and
words, and under such regulations as shall be approved of by
the said Commissioners of the Treasury, Proviled always,
that in case any such contributors, who have already depo-
sited with or shall hereafter pay to the said cashier or ca-
shiers any sum or sums of money, at the time and in the
manner specified in the proposals of the several loans, in part
of any sum or sums so by them respectively subscribed, or
their respective executors, administrators, successors, or as-
signs, shall not advance or pay to the said cashier or cashiers
the residue of the sum or sums so subscribed, at the times
andincastheestonamnuneehr stated in
rinesptleieetipvreopsuomsalos,r tshuenuisasnodsuit.t bserl-beer3
such:;!tall vd-
-11 b-eu actually paid in part thereof to the said
cashier or shall be forfeited for the benefit of th';
public, andto redeemable annuities
rigut orthe title
or annuities for terms of years in respect thereof shall be e