V. And whereas there are now subsisting and passing in Payment,
within the said Colonies and Plantations, divers Kinds of Paper Bills,
or Bills of Credit, of various Denominations, which have been heretofore
created and issued within the said Colonies and Plantations, or some of
them, on Loans and otherwise, whereby private Persons and their Estates
stand liable to, and bound for the Discharge of the Sums by them
borrowed and received on such Loans; without the Payment of which Sums
(in case any Difficulty or Obstruction should arise in the Payment
thereof) such Paper Bills, or Bills of Credit so issued on such Loans,
cannot be called in, discharged and sunk, according to the Tenor of the
respective Acts, Orders, Votes or Resolutions, by virtue whereof the
same have been so respectively issued. For the providing a Remedy for
such Inconveniencies, be it further enacted by the Authority aforesaid,
That all such Paper Bills, or Bills of Credit, of what Kind or
Denomination soever, which have at any Time heretofore been
created and issued on such Loans, within of the said Colonies or
Plantations, be duly
[_]
Bills of Credit on Loans, to be
called in.
called in, and discharged and sunk, according to the
Tenor of the respective Orders, Votes or Resolutions, for creating and
issuing, or
continuing the same respectively, in like manner as all other Paper
Bills, or Bills of Credit, already subsisting within the said Colonies
or Plantations, are herein before required to be called in, discharged
and sunk.
