Act for borrowing of money

Act of the estates of Scotland for raiseing of moneyes for a present supplee to the armies sent into England and Ireland.

Forsamekle as the convention of estates, finding themselfes bund in conscience and duetie for settling of a stock of credit and securitie whereupon soumes of money may be presentlie raised for supplee of the armie sent into England and releeveing in some measure the extreeme wantis of the Scottis armie in Ireland, did conclude and agree that the same sould be by way of excise. Yitt considering that the necessiteis of the armies cannot admitt of delayes and the soumes to be raised on this excise will not be tymeouslie gottin in for supplie thereof, bot that the samyne joyned with the publict faith of this kingdome may be a sufficient suretie to anie that will advance moneyes in the interim, have theirfor thought fitt to requyre and ordaine that all persons of this kingdome who have moneyes, or be ther credit and suretie can best and soonest raise money, to len the same to the estates or their committeis for the uses foresaidis, who sall have assureance for their repeyment frome the publict out of the moneyes due be the kingdome of England to the armies according to the proportion to be advanced to either of thame respective or that sall be raised upon this excise, which the collector and his deputtis sall be bund to pay them out of the first of his intromission theirof or be anie other maner of suretie, privat or publict, they sall desyre. And incaise anie sall desyre privat suretie, it is heirby ordained that the persons whom the lenneris sall desyre to be bund to them sall either obleidge themselfes to the lenneris or furnishe the moneyes themselves, and in either caise sall have publict suretie foresaid for their releeffe, and the persons thus obleidged to the lenneris in a privat suretie sall have suche otheris of anie estates (that are in the toun or shyre where the money is to be borrowed) joyned with them as they sall desyre. And for the better prosecuteing heirof, the estates gives power to their committee in suche ane exigence and upon warrandice of repayment foresaid to call before them all suche persons as are knowin to be able be themselfes or their credit to lene or raise money, and to requyre and ordaine thame to len or give suche suretie as will presently raise the soumes of money the committie sall requyre frome them upon the assureances abovewrittin; and if anie sall refuse, with power to the comittie to take suche course with thame as in a tyme of so pressant necessitie they sall thinke fitting to make them advance moneyes as said is. Bot if anie will be pleased upon this securetie willinglie to offer moneyes, it sall be esteemed and embraced as a realle testimonie of their affection to religion and the caus in hand. And farder the estates gives heirby power and command to the committees of warre in the shyres to take suche course within their severall bounds for procureing of money in manner foresaid as is abovewrittin or frome tyme to tyme sall be direct to them frome the committie of estates, and to report.

  1. NAS. PA8/1, f.133v-134r. Back