An Inquiry Concerning the Rise And Progress the Redemption And Present State a
An Inquiry Concerning the Rise And Progress the Redemption And Present State a
Robert Hamilton
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The stock of the Bank has been enlarged, at a rate nearlj' keeping pace with their advances to Government, but not exactly the iame : The sum upon which they divide is L. I 1, 01'2, 40(). The first term of the charter of the Bank was only to the year 1705, and it has since been extended from time to time, being liable to dissolution at the term specified in each charter, upon twelve months notice, and repayment of the money advanced, bv Government. It is also provided by the various loan acts, ...that the Bank shall remain an incorporation after the term spe- cified in the charter, for the purpose of transacting the business of these loans, till they be redeemed. In the year 1800, at which time their charter stood extended to 1812, it was agreed, upon the advance of L. 3, 000, 000 by the Bank to Government for six years without interest, to prolong their charter till the end of twelve months ivotice, after 1st Au- gust 1833; and, in 1806, it was agreed to continue this ad- vance till six months after the conclusion of a definitive treaty of peace, at 3 per cent, interest.
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