A. D. 1721. 1 1 J 



the 7th of King George, to reft rain their fub-governor, deputy-governor, 

 diredors, treafurers, and accountant *, from going out of the kino-dom, 

 and for difcovering their eftates. 2dly, By another ad of the fame 

 year, they were difabled from ever after, enjoying the faid offices, &c. 

 3dly, Another of the fame year was for raifing money on their eftates, 

 and on thofe ofMr.Aiflabie and Mr. Craggs fenior, towards making good 

 the lofles fuftained by their mifmanagement in the year 1720; out of 

 which they were however allowed certain fums for their maintenance, 

 4thly, By another ad of the fame year, for making feveral provifions to 

 reftore the public credit, which fuffers by the frauds and mifmana^^e- 

 ments of the late diredors of the South-fea company and others ; be- 

 fides what we have already noted, of remitting to that company all the 

 benefit the public was to have reaped by the company's privilege of 

 taking in the public debts, and the putting the redeemables and the four 

 money fubfcriptions on an equal footing, the borrowers on ftock and 

 fubfcriptions in that year were hereby to be releafed, on paying 10 per- 

 cent to the company ; from which 10 per cent they were afterward alfo 

 releafed. Hereby alfo all unperformed contrads for any kind of ftocks 

 and fublbriptions, made during the year 1720, were diredcd to be re- 

 giftered by a fixed time, and in the meantime all law fuits thereon were 

 to remain fufpended ; which gave immediate eafe to very many perfons 

 concerned therein. By this ad likewife, two millions of the company's 

 capital was to be funk from midfummer 1722, for the benefit of the 

 public. And the fecret committee, after a farther report, (of very little 

 ufe or confequence) broke off all farther inquiries. 



On the ift of September, in this fame year, the additional L33 : 6 ; 8 

 per cent in ftock was made to the feveral proprietors already mentioned. 



Peace was concluded at Madrid on the 13th of June 1721, between 

 Great Britain and Spain, whereby the peace of Utrecht was in general 

 confirmed, and the South-fea company were reftored to the exercife of 

 the afliento contrad for negroes, &c. and the full value of all that had 

 been feized was ftipulated to be refunded to them. The antient limits 

 of both nations in America were confirmed, and the freedom of the cod 

 fifhery at Newfoundland. 



In confequence of the peace, the South-fea company in the fame 

 year fent out their great and rich annual ftiip to the Spanilh Weft-Indies, 

 i. e. to Porto Bello and Carthagena ; which, however, from various 

 caufes, did not anfwer the great hopes at firft conceived of that voyage. 

 The difficulties perpetually ftarted by the court of Madrid, the avarice 

 ol the company's own fervants, and of the Spanifli officers in America, 

 were much more the occafion of this voyage not proving advantageous, 

 than any want of prudent concert in planning or defigning it. 



• This lall wa» afterwards left out of the bill. ^. 



