gland; that this should be exempted from
all tax or imposition; that no act of the corporation should forfeit
the particular interest of any person concerned therein; that provision
should be made to prevent the officers of the exchequer, and all other
officers and receivers of the revenue, from diverting, delaying, or
obstructing the course of payments to the bank; that care should be
taken to prevent the altering, counterfeiting, or forging any bank bills
or notes; that the estates and interest of each member in the stock of
the corporation should be made a personal estate; that no contract
made for any bank stock to be bought or sold, should be valid in law or
equity unless actually registered in the bank books within seven days,
and actually transferred within fourteen days after the contract
should be made. A bill upon these resolutions was brought in under
the direction of the chancellor of the exchequer: it related to the
continuation of tonnage and poundage upon wine, vinegar, and tobacco,
and comprehended a clause for laying an additional duty upon salt for
two years and three quarters. All the several branches constituted a
general fund, since known by the name of the general mortgage, without
prejudice to their former appropriations. The bill also provided that
the tallies should bear eight per cent, interest; that from the tenth
of June for five years they should bear no more than six per cent,
interest; and that no premium or discount upon them should be taken.
In case of the general funds proving insufficient to pay the whole
interest, it was provided that every proprietor should receive his
proportion of the product, and the deficiency be made good from the next
aid; but should the fund produce more than the interest, the surplus
was destined to operate as a sinking fund for the discharge of the
principal. In order to make up a deficiency of above eight hundred
thousand pounds occasioned by the failure of the land-bank, additional
duties were laid upon leather; the time was enlarged for persons to come
in and purchase the annuities payable by several former acts, and to
obtain more certain interest in such annuities.

Never were more vigorous measures taken to support the credit of
the government; and never was the government served by such a set of
enterprising undertakers. The commons having received a message from the
king touching the condition of the civil list, resolved that a sum not
exceeding five