of the burden. Provision was made that hammered money should be received
in payment of these duties at the rate of five shillings and eightpence
per ounce. All the deficiencies on annuities and monies borrowed on the
credit of the exchequer, were transferred to this aid. The treasury
was enabled to borrow a million and a half at eight per cent, and to
circulate exchequer bills to the amount of as much more. To cancel these
debts the surplus of all the supplies, except the three-shilling-aid,
was appropriated. The commons voted one hundred and twenty-five thousand
pounds for making good the deficiency in recoining the hammered money,
and the recompence for bringing in plate to the mint. This sum was
raised by a tax or duty upon wrought plate, paper, pasteboard, vellum,
and parchment, made or imported. Taking into consideration the services
and the present languishing state of the bank, whose notes were at
twenty per cent, discount, they resolved that it should be enlarged
by new subscriptions, made by four-fifths in tallies struck on
parliamentary funds, and one-fifth in bank-bills or notes; that
effectual provision should be made by parliament for paying the
principal of all such tallies as should be subscribed into the bank, out
of the funds agreed to be continued; that an interest of eight per cent,
should be allowed on all such tallies; and that the continuance of the
bank should be prolonged to the first day of August, in the year one
thousand seven hundred and ten. That all assignments of orders or
tallies subscribed into the bank should be registered in the exchequer;
that before the day should be fixed for the beginning of the new
subscriptions, the old should be made one hundred per cent., and what
might exceed that value should be divided among the old members; that
all the interest due on those tallies which might be subscribed into the
bank-stock, at that time appointed for subscriptions, to the end of the
last preceding quarter on each tally, should be allowed as principal;
that liberty should be given by parliament to enlarge the number of
bank-bills to the value of the sum that should be so subscribed over
and above the twelve hundred thousand pounds, provided they should
be obliged to answer such bills on demand, and in default thereof be
answered by the exchequer out of the first money due to them; that no
other bank should be erected or allowed by act of parliament during the
continuance of the bank of En