The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-03

in which an increase Of securities the issue department
shall have been authorized by order in council be de-
Quoted OF the amount payable by the said
and Company TO the public, under the provisions herein
contained: provided always that the total payable
TO any banker under the provisions herein contained by
way OF composition aforesaid any year shall
exceedin case OF the bankers mentioned in the schedule
hereuno marked Cone per centm ON the several sums
set against the Of snch bankers respectively in the
list and statement delivered 10 the Commissioners OF
Stamps rs aforesaid, and in the Of other bankers,
shall not exceed per ccntum the amount OF bank
notes which such bankers respectively would other
wise be entitled 70 issue under the provisions herein con-
tanned.
10 the several bankers mentioned in the schedule hereto
marked c. such other bankers shall agree the
said Governor and Company to discontinue the issue OF
their bank notes as aforesaid shall IL previously
determined by the act Of such banker a hereinbefore
provided and determine on the first day OF August
thousand eight hundred and fifty six, any earlier
day on which Parliament may prohibit the issue Of bank
notes.
28 And be il enacted that from and after the passing
any persons in partnership, though exceeding six in
number, carrying on the business OF banking IN London
within sixty miles thereof to draw, accept or en-
dorse bills Of exchange not being payable TO bearer on de-
mand anything the herenbcore rected act passed in
the fourth year Of the reign Of his said Majesty King Will
liam the Fourth in other act to the contrary not
wthstanding.
a. And be il enacted that the said Governor and Com
pany of the Bank Of England shall have and enjoy such
exclusive privilege of banking given in this act upon
such and conditions and subject to the termination
thereof time and in such by this act
proydcd and specified and all and every the powers and
authorities franchises privileges and advantages given
oecognzed by the said rected act passed in the fourth
year OF the reign of his Majesty King William the FOURTH
belonging enjoyed by the said Governor and Com
pany the Bank of England by any subsequent act
Parliament shalt be and the same hereby de-
cared to be in full force and continued by this act except
the altered by this act subject never
theess to redemption upon the terms and conditions fol-
lowing that is say-A any time, twelve months
notice. be given after the first day OF August thou
sand eight hundred and fifty Ave. and upon repayment by
Parliament the said Governor and Company their
and hundred pounds, being the debt now due from
the public to the said Governor and Company, without any
deduction discount abatement whatsoever and upon
payment TO the said Governor and Company and their
Of all of the of hundred thou
sand pounds per annum, in the last mentioned act men
toned, together with the interest or annties payable
upon the said debt in respect thereof, and also
upon repayment of all the principal and interest
which shall be owing unto the said Governor
and Company and their successors upon all such
talies, exchequer orders, exchequer bills or parla-
menary funds which the said Governor and Company
their successors shall have remaining in their hands
be entitled to- at the time of such notice TO he given as
last aforesaid then and in such and not till then the
said exclusive privileges Of banking granted by this act
shall and determine at the expiration of such notice
otwelve months and any vote resolution of the House
OF Commons, sgned under the hand OF the Speaker OF
said House in writing and delivered at the public office of
the said Governor and Company shall be deemed and adj
judged to be sufficient notice.
%. And be il enacted, that the term bank notes"
used in this act shall extend and apply TO all bills or notes
the payment Of money to the bearer demand other
than bills or notes the Governor and Company OF the
Bank Of England and that the term Bank Of England
notes. shall extend and apply TO the promssory notes of
the Governor and Company of the Bank of England paya
BILE to bearer demand and that the term "bankor"
shall extend and apply TO all corporations societies. part
nershps and persons and every individual person. carry
ing the business Of banking whether by the issue Of
bank otherwise except only the Governor and
Company OF the Bank of England and the word pcrson
used in this act shall include corporations and that the
singular number in this act shall include the plural mum
ber and the plural number the singular, except where
there anything in the context repugnant to such
suction and that the masculine gender in this act shall
include the FEMININE except where there Is anything in
the context repugnant TO such construction.
90 And be il enacted that this act may be amended or
repealed by any act TO be in the present session of
Parliament.