being after the rate of five per cent, redeemable after
one year's notice; to circulate the remaining exchequer-bills at
three per cent, and one penny per day. It was enacted, that the former
allowances should be continued to Christmas, and then the bank should
have for circulating the two millions five hundred and sixty-one
thousand and twenty-five pounds remaining exchequer-bills, an annuity of
seventy-six thousand eight hundred and thirty pounds, fifteen shillings,
at the rate of three pounds per cent, till redeemed, over and above the
one penny a-day for interest. By the same acts the bank was required to
advance a sum not exceeding two millions five hundred thousand pounds,
towards discharging the national debt, if wanted, on condition that they
should have five pounds per cent, for as much as they might advance,
redeemable by parliament. The General Fund act recited several acts of
parliament, for establishing the four lotteries in the ninth and tenth
years of the late queen, and stated the annual produce of the several
funds, amounting in all to seven hundred and twenty-four thousand eight
hundred and forty-nine pounds, six shillings and tenpence one-fifth.
This was the General Fund; the deficiency of which was to be made good
annually out of the first aids granted by parliament. For the regular
payment of all such annuities as should be made payable by this act, it
was enacted, that all the duties and revenues mentioned therein should
continue for ever, with the proviso, however, that the revenues
rendered by this act perpetual should be subject to redemption. This
act contained a clause by which the sinking fund was established. The
reduction of interest to five per cent, producing a surplus or excess
upon the appropriated funds, it was enacted, that all the monies arising
from time to time, as well for the surplus, by virtue of the acts for
redeeming the funds of the hank and of the South-Sea Company, as also
for the surplus of the duties and revenues by this act appropriated to
make good the general fund, should be appropriated and employed for
the discharging the principal and interest of such national debt as was
incurred before the twenty-fifth of December of the preceding year, in
such a manner as should be directed and appointed by any future act
of parliament, to be discharged out of the game, and for no other use,
intent, or purpose whatsoever.

TRIAL OF THE EARL OF OXFORD.

The earl of Oxford,