A. D. 1722. I2J 



1.610,169 : TO bank ftock : and the flock, thus fold at 18 per cent ad- 

 vance, amounting to L3, 389, 830 : 10, produced in money the exadt 

 fum due to the South-fea company, being L4,ooo,ooo. The whole bank ' 

 capital due from the public hereby amounted to L9, 375, 027: 17 : 107, 

 of which capital the fum of L 1,600, 000 was intitled to 6 per cent in- 

 terefl till the year 1742 ; the reft, with all the remaining South-fea ca- 

 pital, was to be reduced to 4 per cent after midiummer 1727. 



By an abftradl of the public debts, by Archibald Hutchefon Efq. 

 for the year 1722 (publiflied in 1723) it appears, 



That the grofs amount of the poft-office annual re- 

 venue was - - - _ - _ L2oi,8o4 I 8 



There was to be deduded for frank covers to 

 letters . _ - _ L33,397 12 3 J- 103,793 13 8 



For the expenfe of management 70,396 i 5 



The poft-office's net produce at michaelmas 1722 1^98,010 8 o 



By an a6l of parliament of this year, to prevent the mifchiefs by 

 forging powers to transfer any ftocks, &c. it was made felony to forge, 

 or procure to be forged, any letter of attorney for transferring any 

 ftocks or ftiares of corporations eftabliftied by ad of parliament, or to 

 receive any dividend thereon, or to perfonate any real proprietor. This 

 law was occafioned by a fraudulent letter of attorney for transferring 

 feme South-fea ftock in the year 1720, though not difcovered till four- 

 teen months after. Whereupon the South-fea general court, after much 

 debate, refolved (upon a ballot of 1,457 '^'^^^^ againft 160) ' that every 

 ' proprietor who has had, or ftiall have, ftock transferred to him in the 

 * company's transfer-books, be intitled to the fum fo transferred, upon 

 ' his producing a receipt for the fame, witncfted by the clerk attending 

 ' the transfer-books, provided there appears no fraud on the part ot the 

 ' purchafer.' 



In December 1722 the German emperor, Charles VI, firft granted 

 Ills charter for an Eaft-India company at Oftend, before only connived 

 at by him : whereupon a capital ot lix millions of florins was iublcrib- 

 ed, and fliips were now more openly fcnt out, which returned with car- 

 goes of Eaft-India merchandize, to the great lofs of the Englifli and 

 Dutch Eaft-India companies in the fales of their goods ; both which 

 nations now therefor loudly complained thereof. The Dutch more 

 elpecially and moft vehemently infilled, and plainly made it appear, 

 that the grant was directly repugnant to the treaty of Muniler, whereby 

 the king of Spain, then fovereign of the Netherlands, obliged himleif 

 and his I'ucceilbrs, as fuch, never to extend their navigation or com- 

 merce in India beyond the limits then agreed upon, vi/,. the Spa- 

 mards not to fail to India from Europe, and the Dutch only thicher by 



3 (^2 



