William III, 1697-8: An Act to prevent the further Currency of any ham[m]ered Silver Coine of this Kingdome & for recoining such as is now in being and for the making out new Exchequer Bills... [Chapter II. Rot. Parl. 9 Gul. III. p. 1. n. 2.]

Recital of 8&9 W. III. c. 2. § 3;

8&9 W. III. c. 6. § 106; and that the said Clauses may prove prejudicial; From 10th Jan. 1697, no hammered Silver Coin to be current; nor the Tender thereof a good Tender; nor the Refusal thereof a Refusal of the lawful Coin.

Whereas by an Act made in the last Session of this present Parliament intituled An Act for the further remedying the ill State of the Coine of the Kingdome itt was amongst other things enacted That from and after the First Day of December One thousand six hundred ninety six no ha[m]mered Silver Coin of this Kingdome should be current in any Payment whatsoever (except onely such as were therein before mentioned) otherwise than by Weight onely after the Rate of Five Shillings and Two Pence for every Ounce of Sterling Silver And whereas by one other Act made in the same Session of Parliament intituled An Act for granting an Aid to His Majesty as well by a Land Tax as by several Subsidies and other Duties payable for One Yeare itt was amongst other things enacted (to the end that such ha[m]mered Silver Coin might be made current in all Payments att the said Rate of Five Shillings and Two pence by the Ounce) That from and after the First Day of February One thousand six hundred ninety six the tender of all such ha[m]mered Silver Money (except in such Payments where the same were by the said first recited Act directed to be received att a greater Value) in any Payment or Payments whatsoever to be made by any Person or Persons Bodies Politick or Corporate to any other Person or Persons Bodies Politick or Corporate att the Rate of Five Shillings and Two pence for every Ounce Troy should be and be deemed to be a good and sufficient Tender in Law and that the Refusal thereof in any such Payment or Payments should be and be adjudged to be a Refusal of so much of the lawful Coins of this Kingdome as fully and effectually as if any such Tender and Refusal ( (fn. 1) ) be had and made of the lawfull and current Coins of this Realme which said Clauses and Provisions though necessary att the time of the enacting thereof may neverthelesse hereafter prove very prejudicial and of evil Consequence Be it therefore enacted by the Kings most Excellent Majesty by and with the Advice and Consent of the Lords Spiritual and Temporal and Co[m]mons in this present Parliament assembled and by Authority of the same That from and after the Tenth Day of January in the Yeare of our Lord One thousand six hundred ninety seven no ha[m]mered Silver Coin of this Kingdome shall be reputed or esteemed to be the lawfull Coin of this Realme nor be current in any Payment whatsoever att any Rate or Value whatsoever either by Weight or otherwise nor shall the tender of any such ha[m]mered Silver Money att any time from and after the said Tenth Day of January be or be deemed to be a good and sufficient Tender in Law nor the Refusal thereof in any Payment whatsoever be or be adjudged to be a Refusal of so much of the lawfull Coins of this Kingdome Any thing in the said recited Acts or either of them contained to the contrary notwithstanding.

II. Proviso for carrying to the Mint old hammered Money to be recoined.

Provided and be it enacted by the Authority aforesaid That it shall and may be lawfull to and for any Person or Persons to carry into any of His Majesties Mints in the Tower of London or in the Cities of Bristoll Exeter Chester Norwich and York before the First Day of March One thousand six hundred ninety seven any old ha[m]mered Money in order to be recoined and the respective Master or Worker of [any (fn. 2) ] such Mint or his Deputy is hereby authorized and required to receive the said old ha[m]mered Money and to cause the same forthwith to be melted downe and recoined into the lawfull Coins of this Kingdome and to pay back the same so recoined on or before the Five & twentieth Day of March One thousand six hundred ninety eight to the several Importers in such Manner and Method as is now used in His Majesties Mint in the Tower of London.

III. Recital of 8&9 W. III. c. 6. §94.

8&9 W. III. c. 24. §18; and that several of the Bills therein mentioned had been paid in and re-issued so often as not to admit of further Indorsement; Treasury may cause new Bills to be made forth in lieu of such Bills; and the old Bills cancelled. The new Bills to be current, &c.; Proviso as to the Interest incurred on the old Bills.

And whereas in and by an Act made and passed in the Session of Parliament which was holden att Westminster in the Eighth Yeare of His Majesties Reigne intituled An Act for granting [an Aid (fn. 3) ] to His Majesty as well by a Land Tax as by several Subsidies and other Duties payable for One Yeare itt was amongst other things enacted That the Commissioners of His Majesties Treasury or any Three of them might cause Bills to be made forth at the Receipt of the Exchequer for any Sum or Sums of Money not exceeding One Million five hundred thousand Pounds by virtue of that Act which were to be current in such Manner and Forme as in the said Act and in several other Acts of the said Session of Parliament are mentioned And in and by another Act made and passed in the aforesaid Session intituled An Act for granting to His Majesty a further Subsidy of Tunnage and Poundage upon Merchandize imported for the Terme of Two Yeares and Three Quarters and an additional Land Tax for One Yeare for carrying on the Warr against France itt was enacted That the Co[m]missioners of His Majesties Treasury or any three of them might cause further Bills to be made forth att the said Receipt of the Exchequer for any Su[m]m or Su[m]ms not exceeding Twelve hundred thousand Pounds to have like Currency as the Bills before mentioned as by the said several Acts relation being thereunto had may more fully appeare And whereas several of the Bills above mentioned have been paid into the Publick Receipts for Revenues Taxes and Aids and issued out againe several times by which they have been subject to so many Indorsements that they will admitt of no further indorsements to be made thereupon and consequently will not be so current in Payments as before which inconveniency will daily increase unlesse some proper Remedy be provided Be it further enacted by the Authority aforesaid That in respect to such of the said Bills as are or shall from time to time be filled upp with Indorsements it shall and may be lawfull to and for the Co[m]missioners of His Majesties Treasury or any three of them now being or for the High Treasurer or any three or more of the Co[m]missioners of His Majesties Treasury for the time being to cause new Bills to be made forth att the Receipt of the Excheq[uer] to be delivered from time to time to such Person or psons as shall demand the same in lieu of such Bills as shall be brought in filled upp with Indorsements which old Bills shall be cancelled and kept apart from all other Bills whatsoever and such new Bills shall in all respects have the like Currency and there shall be inflicted the same Punishment for forgeing or counterfeiting the same and they shall be subject to the same Rules Methods and Continuance as by the said former Acts are provided in respect to the Bills thereby made forth or any of them and such new Bills respectively shall beare the same Numbers Dates Principal Su[m]ms and Rate of Interest per diem as were borne on the old Bills brought in so to be cancelled respectively and as to the Interest that shall have incurred on the said old Bills to the Days of their being brought in to be renewed the intire Su[m]m of such Interest shall be so computed as to take off and abate what did accrue whilst they lay in the Hands of any of His Majesties Receivers or Collectors or in His Majesties Exchequer and shall be written upon the said New Bills Any thing in the said former Acts contained to the contrary notwithstanding.