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National bank established,
by voluntary subscriptions, on or before 1 Jan. 1784,
amounting to 600,000l. to be paid in money or debentures;
debentures taken at par, and interest thereon at 4 per cent.
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WHEREAS it will tend to the advancement of publick credit in this kingdom, and to the extension of its trade and commerce if a bank with publick security, shall be established therein; 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 Parliament assembled, and by the authority of the same, That it shall and may be lawful to and for your Majesty, your heirs and successors, by commission under the great seal of Ireland, to authorize and appoint any number of persons, at any time after the first day of August next, to take and receive all such voluntary subscriptions as shall be made on or before the first day of January which shall be in the year of our Lord one thousand seven hundred and eighty four by any person or persons, natives or foreigners, bodies politick or corporate, for and towards the raising and paying into the receipt of your Majesty's treasury in this kingdom the sum of six hundred thousand pounds sterling, to be paid in money, or by debentures which have been or shall be issued from your Majesty's treasury, by virtue of any act or acts of Parliament heretofore, and in this present session made in this kingdom, bearing an interest at the rate of four pounds per centum per annum, which debentures shall be taken at par from such subscriber or subscribers, and be considered as money by the persons to whom the same shall be paid; for which sum so to be subscribed, a sum, by way of annuity, equal in amount to the interest upon said debentures, at the rate of four pounds per centum per annum, shall be paid at your Majesty's treasury in manner herein after mentioned.
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