§
Resolved—
1. "That, towards raising the Supply granted to Her Majesty, the sum of sixteen million pounds be raised by Annuities.
§
Resolved—
2. "That every contributor to the said sum of sixteen million pounds shall, for every 100l. contributed and paid, be entitled to the principal sum of 100l. in Annuities after the rate of 3l. per centum, to commence from the 5th day of January 1855, and to be added to and made one joint stock with the existing Consolidated 3l. per centum Annuities, and to be payable and transferable at the Bank of England at the same times and in the same manner and subject to the like redemption as the said Consolidated 3l. per Centum Annuities.
§
Resolved—
3. "That every such contributor shall also be entitled, for every 100l. contributed and paid, to a further annuity of fourteen shillings and six pence for 30 years, to be payable and transferable at the Bank of England, and to be payable on the 5th day of April and the 10th day of October in each year by equal half-yearly payments, the first payment to be made on the 10th day of October, 1855, and the last payment on the 5th day of April, 1885.
§
Resolved—
4. "That the said several annuities so to be payable as aforesaid shall be charged upon and paid out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland.
§
Resolved—
5. "That every contributor shall on the 24th day of April, 1855, make a deposit of 10l. per centum on such sum as he or she shall choose to
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subscribe towards raising the said sum of sixteen million pounds with the chief Cashier or Cashiers of the Governor and Company of the Bank of England as a security for making the subsequent payments on or before the days or times hereinafter mentioned (that is to say):
Payment of—
15l. per cent on or before the 22nd of May, 1855.
10l. per cent on or before the 19th of June, 1855.
15l. per cent on or before the 17th of July, 1855.
10l. per cent on or before the 21st of Aug. 1855.
10l. per cent on or before the 18th of Sept. 1855.
10l. per cent on or before the 16th of Oct. 1855.
10l. per cent on or before the 20th of Nov. 1855.
10l. per cent on or before the 18th of Dec. 1855.
That all the moneys so to be received by the said Cashier or Cashiers of the said Governor and Company of the Bank of England shall be paid into the account of the Receipt of Her Majesty's Exchequer at the Bank of England, to be applied from time to time to such services for Great Britain and Ireland as shall then have been voted by this House in this Session of Parliament, or to the redemption of the principal and interest of any Exchequer Bills issued or to be issued under the authority of the Act 57 Geo. 3, c. 48, or under the authority of any Act of the present Session of Parliament authorising the application of monies out of the Consolidated Fund for the service of the year ended on the 31st day of March, 1855, and of the year ending on the 31st day of March, 1856.
§
Resolved—
6. "That for the purpose of extinction from time to time of a sum of Consolidated 3l. per Centum Annuities equal to the amount to be added to the said joint stock as aforesaid, there shall be issued and paid out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, or out of the growing produce thereof, to the Commissioners for the Reduction of the National Debt, in the financial year commencing on the first day of April which shall first happen twelve months after the ratification of a definitive Treaty of Peace with Russia, and in every subsequent year until such sum of Consolidated 3l. per Centum Annuities is extinguished, the sum of one million pounds: Provided, that in case in the last year in which such sum would be payable the sum necessary for purchasing the remaining portion of the said sum of Consolidated 3l. per Centum Annuities be less than one million pounds, then so much only of such sum as may be necessary for that purpose shall be issued and paid as aforesaid, and the sums so to be issued and paid to the Commissioners for the Reduction of the National Debt shall be applied by thesis in the purchase of Consolidated 3l. per Centum Annuities, in the manner directed by the Acts for the Reduction of the National debt, until a sum of sixteen million pounds Consolidated 3l. per Centum Annuities has been extinguished and cancelled.