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Colonial and State Records of North Carolina
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Acts of the North Carolina General Assembly, 1714
North Carolina. General Assembly
1714
Volume 25, Pages 157-158

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LAWS OF NORTH CAROLINA--1714.

An Act for Raising the Sum of Twenty four Thousand Pounds in Publick Bills of Credit for paying the Remaining Debts of the Government and for Sinking the Remaining part of the Sum of Twelve Thousand pounds publick bills of Credit with Two Years interest.

Be it Enacted by his Excellency the Palatin and the Lords Proprietors by and with the advice and consent of this General Assembly and it is hereby Enacted by the Authority of the Same,

I. That Collo. Christopher Gale, Collo. Edward Moseley, Tobias Knight and Daniel Richardson Esqrs. are hereby appointed and Impowered to make out Publick Bills of Credit to the value of Twenty four Thousand pounds in manner following, That is to say Three hundred of Twenty Pounds three hundred of fifteen pounds, four hundred and eighty of ten pounds, four hundred and fifty of five pounds, three hundred of three pounds, Three thousand of twenty shillings, Three thousand three hundred of Ten shillings, One hundred and fifty of Eight shillings, Three thousand of five shillings, and Seven hundred and Twenty of Two shillings and Six pence which said Publick Bills shall be made without Interest on them or time of payment Mentioned thereon for which they shall be allowed and paid out of the Publick Treasure the Sum of Two hundred pounds, which bills when made shall be signed by Christopher Gale Edward Moseley Tobias Knight and Daniel Richardson, who are hereby Commissionated thereto, and Sealed with the Colony Seal and Then Deliver into the hands of Edward Moseley on or before the 25th day of March Next In Order that the said Edward Moseley may put into the Treasurer of each Precinct the ballance due to the Persons who have had Claims allowd in the same Precinct which he is hereby Required and Impowered to do

II. And be it further Enacted by the Authority aforesaid That all Such Publick Bills of Credit as are now Outstanding Shall not Receive or have from the Publick or any other Person or Persons whatsoever any further Interest than two Years which will be Compleat and Ended the 25th of March Next within Six Months after which time all persons whatsoever are Required and Commanded to Exchange the Same with the Said Edwd. Moseley for such bills as are to be made by virtue of this Act The Said Edward Moseley or his Deputy being hereby Impowered and Required to Exchange the same and to allow Two Years Interest thereon.

III. And be it further Enacted by the Authority aforesaid That all Such Persons who shall refuse or neglect to bring their Bills to be Exchanged before the 25th of August next shall not have nor receive any interest on the said Bills and such as shall refuse or neglect to change the same bills before the 25th of March 1716 The same shall Adjudged held and taken to be of no value—

IV. And be it further Enacted by the Authority aforesaid that as often as the said Edward Moseley or his Deputy shall have Exchanged so many of the said Bills of Credit as shall amount unto the Sum of three hundred pounds, The said Christopher Gale, Tobias Knight and Daniel Richardson or any two of them are hereby Required to Examine the same, and having compared the Same with the Counter part and taken an Account of them and Enterd them on a fair List to pass a Receipt for the same and Publickly to burn them

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for all which Charge and trouble the said Edward Moseley shall be allowd. One per cent for Changing the said Bills.

V. And be it further Enacted by the Authority aforesaid that the said Bills shall be Reckoned and taken to be a good Payment and Tender in Law for any of the Rated Commodities of the Country or other Money allowing 50 per cent between the same and Sterling he or they so Refusing shall forfeit double the value of such Bills so refused, One half towards Defraying the Contingent Charges of the Government and the other to him or them who shall sue for the same to be Recovered by Action of Debt Bill Plaint or Information in any Court of Record in this Government wherein no Essoign Wager of Law or Injunction shall be allowed or Received.

VI. And be it further Enacted by the Authority aforesaid that if any Person or Persons shall Counterfeit any of the said Bills or Knowing any of the said Bills to be false or Counterfeit or any other aiding or assisting him as well as the Utterer or Disposer of the Bill or bills being thereof duly Convicted shall be punished as Guilty of Felony without the benefit of Clergie.

VII. And be it further Enacted by the Authority aforesaid that in Case any Member of either House of Assembly shall hereafter make any motion which shall be judged by the House to which he belongs to be Derogatory and prejudicial to the publick Credit of the said Bills, such Member of the upper House shall be represented to the Proprietors as an Enemy to their L'dships' Interest and Country and unworthy of their Service and be suspended the Councill till their L'dships' pleasure be Known and fined the Sum of Twenty pounds for such his motion And if a member of the Lower House he shall be expelled the House and fined the like Sum of Twenty pounds and be for ever after uncapable as Serving as a Member of the House, the fines to be appropriated for the payment of the Public Charges.

VIII. And be it further Enacted by the Authority, aforesaid that for the faithful Discharging of the Office of Treasurer the Treasurer of each Precinct shall on or before the first of February next give bond with good and Sufficient Security in the Sum of Two thousand pounds, the said Edward Moseley in the Sum of Twenty four Thousand pounds to the Honble. Charles Eden Esqr. Governor his heirs and Successors with the condition for the faithful performance of their Several Offices, under the penalty of One hundred Pounds for every Month he or they shall continue to officiate without giving such Bond with Security to be Levyd by a Warrt. from the Governor on the Goods and Chattels of such Person or Persons neglecting to give such Bond and Security to be appropriated for and towards the Defraying the Contingent Charges of the Government.

IX. And be it further Enacted by the Authority aforesaid, That the Treasurer of each Precinct shall depute Such Person to be Deputy Treasurer in their Precinct as shall be Nominated by the Justices of that Court so as that the Number do not Exceed Two.

MEMO.—This Act by several subsequent laws is intirely repealed.