Could A Bank Exist Without State Support?
That it shall not be lawful nor allowable for the said Company, Governor, Deputy -Governor, Directors, or Managers thereof, upon any Ground or Pretence whatsoever, directly nor indirectly, to use, exerce, or follow any other Commerce, Traffick, or Trade with the joint Stock to imployed in the said Bank, or any Part thereof, or Profits arising therefrae, excepting the Trade of lending and borrowing Money upon Interest, and negotiating Bills of Ex-change allenarly and no other. Providing also, Likeas it is hereby expressly Provided, Enacted and Declared,That in case the Governor, Deputy-Governor, Directors, or other Managers of the said Company, shall at any Time happen to purchase for the Use and Behoof of the said Company any Lands, Rents, or other Heritage belonging to His Majeity, His Heirs and Successors, or shall advance or lend to His Majesty, His Heirs or Successors, any Sums of Money in borrowing, or by Way of Anticipation upon any Part, Branch or Fund of the ordinary Rent or Casualties of the Crown, or of any Supply, Cess, Excise, Custom, Pole-Tax, or any other Supply or Taxation already granted, or which shall happen to be granted at any Time hereafter to His Majesty and his foresaids, any Manner of Way whatsoever, excepting these Parts, Branches, or Funds of the saids Rents, Casualties, or Impositions foresaids, upon which a Credit of Loan shall happen to be granted by Act of Parliament allenarly ; then and in that Case, the said Governor, Deputy-Governor, Directors, or other Managers, one or more of the said Company who shall consent, agree to, or approve of the said Purchase, Advance or Lending to His Majesty and His foresaids, and ilk ane of them so agreeing and approving, and being found guilty thereof according to Law, shall be liable for every such Fault, in the Triple of the Value of the Purchase so made, or the sums so lent, whereof a fifth Part shall belong to the Informer, and the Remainder to be disposed of towards such publick uses, as shall be appointed by Parliament and not otherwise. And it is likewise hereby Provided, That all Foreigners who shall join as Partners of this Bank, shall thereby be and become naturalized Scots-men, to all Intents and Purposes whatsoever. Extracted forth of the Records or Parliament by TARBAT Cl-Regifiri.