Commissioun anent the exchange of moneyes

Oure soverane lord and estaits of parliament, considering that the great and exorbitant interest accustomed formerlie to be takine be merchands and factors of this his majesties kingdome of Scotland frome uthers his majesties subjects of the said kingdome for loane moneyes and moneyes advancit upon exchange in the citie of Lundon in his majesties kingdome of England, haith givin occasioun to the frequent and continewall exportatioun of gold and money furth of this kingdome, to the no small damnage and prejudice of the same, and that the excessive proportioun of the said interest doeth farre exceid and surmount the rait and proportioun of interest accustomed, usuall and approvine in uther nichbouring and weill governed kingdomes. For remedeing and redressing quhairof, his majestie and estaits forsaids hes givin and grantit full power, authoritie and commissioun to the lords of his majesties privie counsall to sett downe, appoint and determine the dew and just rate and proportioun of interests that they sall find just, reassonable and expedient in all tyme coming, to be takin be merchands and factors of this kingdome and uthers excerceing the said trade frome any uthers his majesties liedges of the samyne kingdome for loane moneyes and moneyes to be advancit upon exchange in the citie of London; with power lykwayes to the saidis lords to impoise fynnes and penalties upon the breackers and contraveiners of thair ordinance to be maid thairanent, and to tak such farder course and order anent the same as they sall think most expedient for the benefeit of his majesties liedges. And finds and declairs that quhatsumever the saidis lordes of privie counsall sall find, determine and conclude anent the premises, that the samyne sall have the full strenth, force, power and effect of ane act and decreit of parliament in all tyme thaireftir.

  1. NAS, PA2/21, f.45v.