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APPENDIX. BILL-continued.

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masters of recruiting districts, or by the paymasters
of detachments, or by the officer or officers authorized
to perform the duties of paymastership during a va
cancy, or the absence, suspension, or incapacity of
any such as aforesaid; save and except such bills as
shall be drawn in favour of contractors or others,
who furnish bread or forage to His Majesty's troops,
and who by their contracts or agreements shall be
liable to pay the stamp duties on the bills given in
payment for the articles supplied by them.

PROMISSORY NOTE for the payment, to the bearer on
demand, of any sum of money.

Not exceeding one pound and one shilling
Exceeding 1. 18. and not exceeding 21. 28.
Exceeding 21. 2s. and not exceeding 51. 58.
Exceeding 51. 5s. and not exceeding 101.
Exceeding 101. and not exceeding 201.
Exceeding 201. and not exceeding 301.
Exceeding 301. and not exceeding 501.
Exceeding 501. and not exceeding 100l. -

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Which said notes may be re-issued after payment
thereof, as often as shall be thought fit.

PROMISSORY NOTE for the payment, in any other
manner than to the bearer on demand, but not exceed-
ing two months after date, or sixty days after sight,
of any sum of money,

Amounting to 40s. and not exceeding 5l. 58.

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Exceeding 51. 58. and not exceeding 201.

Exceeding 201. and not exceeding 301.

Exceeding 301. and not exceeding 50%.

Exceeding 50l. and not exceeding 1007.

These notes are not to be re-issued after being
once paid.

[ 552 ] PROMISSORY NOTE for the payment either to the
bearer on demand, or in any other manner than to the
bearer on demand, but not exceeding two months after
date, or sixty days after sight, of any sum of money,
Exceeding 100l. and not exceeding 2007.

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016

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PROMISSORY NOTE for the payment to the bearer or
otherwise, at any time exceeding two months after date,
or sixty days after sight, of any sum of money,
Amounting to 40s. and not exceeding 51. 58.
Exceeding 51. 58. and not exceeding 201.

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d. APPENDIX.

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PROMISSORY NOTE-continued.
Exceeding 201. and not exceeding 301.
Exceeding 301. and not exceeding 50l.
Exceeding 501. and not exceeding 1001. -
Exceeding 1001. and not exceeding 2001.
Exceeding 2001. and not exceeding 3007.
Exceeding 3007. and not exceeding 5001.
Exceeding 500l. and not exceeding 1,000l.
Exceeding 1,000l. and not exceeding 2,0007.
Exceeding 2,000l. and not exceeding 3,000l.
Exceeding 3,000%. -

These notes are not to be re-issued after being once
paid

PROMISSORY NOTE for the payment of any sum of money by instalments, or for the payment of several sums of money at different days or times, so that the whole of the money to be paid shall be definite and certain

And the following instruments shall be deemed and taken to be promissory notes, within the intent and meaning of this Schedule ; viz.

All notes, promising the payment of any sum or sums of money out of any particular fund, which may or may not be available; or upon any condition or contingency, which may or may not be performed or happen; if the same shall be made payable to the bearer, or to order, and if the same shall be definite and certain, and not amount in the whole to twenty pounds.

And all receipts for money deposited in any bank, or in the hands of the banker or bankers, which shall contain any agreement or memorandum, importing that interest shall be paid for the money so deposited.

Exemptions from the Duties on Promissory Notes.

All notes, promising the payment of any sum or sums of money out of any particular fund, which may or may not be available; or upon any condition or contingency, which may or may not be performed or happen; where the same shall not be made payable to the bearer or to order, and also where the same shall be made payable to the bearer or to order, if the same shall amount to twenty pounds, or be indefinite.

And all other instruments, bearing in any degree the form or style of promissory notes, but which in law

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The same duty as
on a promisso-
ry note, paya-
ble in less than
two months af
ter date for a
sum equal to
the whole
mount of the

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money to be
paid.

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APPENDIX. PROMISSORY NOTE-continued.

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shall be deemed special agreements, except hereby ex-
pressly directed to be deemed promissory notes.

But such of the notes and instruments here exempted
from the duty on promissory notes shall nevertheless
be liable to the duty which may attach thereon, as
agreements or otherwise.

Exemptions from the preceding and all other Stamp

Duties.

All promissory notes for the payment of money is-
sued by the Governor and Company of the Bank of
England.

PROTEST of any bill of exchange or promissory note,
for any sum of money,

Not amounting to 201.

Amounting to 201. and not amounting to 1007.

£

Amounting to 1007. and not amounting to 5001.
Amounting to 500l. or upwards

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PROTEST of any kind

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And for every sheet or piece of paper, parchment or
vellum, upon which the same shall be written, after
the first, a further progressive duty of

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STATUTE AGAINST USURY.

APPENDIX

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12 ANN. ST. 2. C. 16.

An Act to reduce the Rate of Interest, without any Prejudice to Parliamentary Securities.

WHEREAS the reducing of interest to ten, and from thence to eight, and thence to six in the hundred, hath from time to time, by experience, been found very beneficial to the advancement of trade, and [ 555 ] improvement of lands: and whereas the heavy burden of the late long and expensive war, hath been chiefly borne by the owners of the land of this kingdom, by reason whereof they have been necessitated to contract very large debts, and thereby, and by the abatement in the value of their lands, are become greatly impoverished: and whereas by reason of the great interest and profit which hath been made of money at home, the foreign trade of this nation hath of late years been much neglected, and at this time there is a great abatement in the value of merchandizes, wares, and commodities of this kingdom, both at home and in foreign parts, whither they are transported: and whereas for the redress of these mischiefs, and the preventing the increase of the same, it is absolutely necessary to reduce the high rate of interest of six pounds in the hundred pounds for a year to a nearear proportion with the interest allowed for money in foreign states; Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, That no person or persons whatsoever, from and after the nine-and-twentieth day of September, in the year of our Lord one thousand seven hundred and fourteen, upon any contract which shall be made from and after the said nine-and-twentieth day of September, take, directly, or indirectly, the loan of any moneys, wares, merchandize, or other commodities whatsoever, above the value of five pounds, for the forbearance of one hundred pounds for a year, and so after that rate for a greater or lesser sum, or for a longer or shorter time; and that all bonds, contracts, and assurances whatsoever, made after the time aforesaid, for payment of principal, or money to be lent or covenanted to be performed upon or for any usury, whereupon or whereby there shall be reserved or taken above the rate of five pounds in the hundred, as aforesaid, shall be utterly void; and that all and every person or persons whatsoever, which shall, and after the time aforesaid, upon any contract to be made after the said nine-and-twentieth day of September, take, accept, and receive, by way or means of any corrupt bargain, loan, exchange, chevisance, shift, or interest of any wares, merchandize, or other thing or things whatsoever, or by any deceitful way or means, or by any covin, engine, or deceitful conveyance, for forbearing or giving day of payment for one whole year, of and for their money, or other thing, above the sum of five pounds for the forbearing of one hundred pounds for a year, and so after that rate for a greater or lesser sum, or for longer or shorter term, CHITTY ON BILLS.

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APPENDIX. shall forfeit and lose for every such offence the treble value of the moneys, wares, merchandizes, and other things, so lent, bargained, exchanged, or shifted.

II. And be it further enacted by the authority aforesaid, That all and every scrivener and scriveners, broker and brokers, solicitor and solicitors, driver and drivers of bargains for contracts, who shall, after the said nine-and-twentieth day of September, take or receive, directly or indirectly, any sum or sums of money, or other reward or thing for brokage, soliciting, driving, or procuring the loan, or forbearing of any sum or sums of money, over and above the rate or value of five shillings for the loan, or for forbearing of one hundred pounds for a year, and so rateably, or above twelve pence, over and above the stamp-duties, for making or renewing of the bond or bill for loan, or forbearing thereof, or for any counter-bond or bill concerning the same, shall forfeit for every such offence twenty pounds, with costs of suit, and suffer imprisonment for half a year; the one moiety of all which forfeitures to be to the Queen's Most Excellent Majesty, her heirs and successors, and the other moiety to him or them that will sue for the same in the same county where the several offences are committed, and not elsewhere, by action of debt, bill, plaint or information, in which no essoign, wager of law, or protection shall be allowed.

58 GEO. 3. c. 93.

An Act to afford Relief to the bona fide Holders of negotiable Securities, without Notice that they were given for a usurious Consideration."— [Passed 10th June 1821.]

WHEREAS by the laws now in force, all contracts and assurances whatsoever, for payment of money, made for a usurious consideration, are utterly void: And whereas in the course of mercantile transactions, negotiable securities often pass into the hands of persons who have discounted the same without any knowledge of the original considerations [557] for which the same were given; and the avoidance of such securities

promissory

in the hands of such bona fide indorsees without notice is attended with great hardship and injustice; For remedy thereof, be it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present ParBill of ex- liament assembled, and by the authority of the same, That no bill of change or exchange or promissory note, that shall be drawn or made after the passnote given ing of this act, shall, though it may have been given for a usurious confor a usuri- sideration, or upon a usurious contract be void in the hands of an indorconsi- see for valuable consideration, unless such indorsee had, at the time of derationnot discounting or paying such consideration for the same, actual notice hands of an that such bill of exchange or promissory note had been originally given indorsee if for a usurious consideration, or upon a usurious contract.

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void in the

he had no

notice thereof.

a In Lowes v. Mazzaredo, 1 Stark. page 385, it was held, that if the payee of a bill of exchange, indorses it upon a usurious contract at the time of the

contract, a bona fide holder cannot afterwards recover upon it against the acceptor, which decision just preceded this

act.

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