A. D. 1746. 251 



On the 5th of July 1746 the king's charter pafled for ereding the 

 Britifh linen company at Edinburgh ; whereby a number of peers and 

 eminent gentlemen and merchants were incorporated, with a capital of 

 Li 00,000 fterling, which may be farther increafed from time to time, 

 as their affairs Ihall require, to any limited fum, by his majeily's fign- 

 manual. Their ordinary affairs to be conduded by a governor, deputy- 

 governor, and five directors. Their firfl governor was Archibald duke 

 of Argyle, the great promoter of this charter. One of the main inten- 

 tions of this company was to fupply the Britifh merchants trading to 

 Africa, and to the American plantations, with fuch kinds of linen cloth 

 as they hitherto were obliged to purchafe from foreign nations ; where- 

 by it is to be hoped that much money will befaved to the nation, which 

 till now has been carried abroad for thofe goods : a moft worthy and 

 truely public-fpirited defign, which there is good ground to hope will in 

 due time fully anfwer expedation. 



The bank agreed to deliver up to the treafury L986,8oo in exche- 

 quer bills ; in lieu of which they were to have an annuity of 4 per cent 

 for that fum, out of the fund for licencing fpiritous liquors : and the 

 bank were hereby empowered to add the laid £986,800 to their capital 

 flock, taking in fubfcriptions for that end. [19 Geo. II, c. 6.] 



Thus, at michaelmas 1746, the whole debt due to the bank from the 

 public, was - - - Li 1,686,800 



But the bank now hold thereof, in their corporate capa- 

 city, the undivided fum of - - 906,800 



which being deduded, there remained of transferable 



capital, divided amongH: all the proprietors, only - L 10,780,000 



It being too common for commanders of fhips, lying in rivers, ports, 

 &c. to throw out their ballall on the fhore below the fuU-fea mark, to 

 tlie great detriment and filling up of thole ports, rivers, 6cc. a law was 

 paffed [19 Geo. II, c. 22] prohibiting the throwing out of any filth, rub- 

 bifli, gravel, &c. except on the land where the tide never flows, under the 

 penalty of at Icafl fifty fliillings, and not exceeding five pounds for every 

 offence. And fliips or vcfTels funk or flranded in any pc>rt or river, 

 muftbe forthwith weighed up and removed by order of the magiflrates. 

 This ad extended only to that part of Great Britain called England. 



The manufadurc of fail-cloth had been long improving in Great Bri- 

 tain, and had been encouraged by fundry ads of parUament ; particu- 

 larly by thofe of the 9th and 13th of King George II, whereby all fo- 

 reign-made fail-cloth imported, ufually entered by the name of Holland's 

 duck, or vitry canvas, fit for fliips' fails, and for which duties are pay- 

 able, fliould be llamped as fuch on its importation, to prevent its p::fl- 

 ing for Britifli-made fail-cloth ; and if found unflamped, to be forfeited ; 

 and the importer of it to forfeit L50, all which was now confirmed; 

 ^ I i 2 



