202 A. D. 17^4. 



fadors, captains, aiid other fcrvants, employed by them in the SpaniHi 

 Weft-Indies, and alfo under their wings from Jamaica, &c. the nation 

 was not a greater gainer, upon the whole, than they could be by the 

 propofed ecjnivalcnt, and carrying back the trade to the channel of 

 Cadiz, where, without doubt, our merchants had alio a great intcreft in n 

 it. We muft, however, now again leave this difpute for future con- 

 fideration in its proper place. 



In order to prevent frauds in ftock-jobbing, by bargains for ftocks 

 bought or fold for a future time, by pcrfons, on one hand, not poflefll-d 

 of fuch ftock, and, on the other, by many not being in circumftances 

 or ability to pay for fuch ftock ; fov puis, alfo, and refufals of ftocks*, 

 &c. whereby many unwary perlons and their innocent families have 

 been undone ; it was now enacted, that all contrads and agreements 

 whatloever, upon which any premium ftiall be paid for liberty to put 

 upon, or to deliver, receive, accept, or refufe, any public or joint ftock, 

 or other public fecurities whatfoever, or any part or fliare therein ; and 

 alfo all wagers, and contrads in the nature of wagers, or of puts and re- 

 fufals, relating to the prefent or future price of any fuch ftocks, ftiall 

 be null and void to all intents and purpofes whatfoever. And all pre- 

 miums received upon fuch bargains fliall be reftored and repaid to the 

 perfons who fliall have fo paid them, and may be recovered by an adion 

 commenced within fix months, with double cofts ; the firft receivers of 

 fuch premium to be obliged to anfwer upon oath. A penalty of L500 

 is hereby laid on all perlons making fuch time-bargains or contrads, 

 puts, and refufals ; and all brokers, agents, and fcriveners-, tranfading or 

 writing any fuch contrad, ftiall likewife forfeit the fuin of L500, moiety 

 to the king, moiety to the fuer for the fame. And for preventing the 

 evil pradice of compounding or making up difterences for bargains on 

 ftock fo fold, no money fliall be voluntarily given or received on that 

 account, or for not performing any fuch contrad ; but every fuch con- 

 trad fliall be fpecifically performed ; and the ftock or fecurity thereby 

 agreed to be ailigned and transferred, ftiall be adually fo done, and the 

 whole money fhall be paid for the fame, under the forfeiture of Lioo 

 for every fuch compounding, &c. as aforefaid. Stock fold, and not 

 paid for at the time prefixed, may be lawfully fold again to any other 

 perfons, and the buyer fliall make good any damage luftained. Stock 

 bought, and not transferred at the due time by the ieller, the buyer 

 may purchafe other ftock, and recover his damage. And whereas it is 

 a frequent and milchievous pradice, that perfons fell flocks of which 

 they are not poflefled, it was enaded, that, for all contrads and agree- 

 ments hereafter to be made, either for felling or buying fuch ftocks, 

 whereof the perfon contrading fliall not be polTefled at the time of fuch 

 bargain, there ftiall be L500 penalty; as alio Lioo penalty on the 



* Thcfe tcrtrs have been already explained under the year 1C9J. yi. 



