in circulation, to be delivered at the charge of the pay. er at such places, and to such commissioners, as the governour with the advice of the council shall appoint, whose certificates of receipt delivered to the sheriff, shall be equal to the payment of so much money; and the governour with the advice of his council shall take proper measures for selling the same, for the best price which can be had, and shall cause the product thereof to be paid into the treasury, to be applied to the foreIf taxes defi- going purposes. And if the taxes herein directed to cient, assem be paid, and the fund appropriated for the purpose of bly will pro- redeeming this state's quota of the two hundred mil

vide other

adequate funds.

ty.

lions of dollars heretofore issued by congress, and also of the state money now in circulation shall prove insufficient for the said purpose, the general assembly will hereafter provide and establish adequate funds for calling in, or redeeming at the same rate, so much thereAnd for deter

Assessors of as shall then remain outstanding. their duty. mining the duty of, and making an adequate allowance to the commissioners and assessors for services herein; It is farther enacted, That the said assessors shall immediately after their meeting for ascertaining Commission an average price of lands on the said first day of Ocers their du- tober next, proceed to assess and value all property of whatever kind which is directed to be assessed herein, or which is directed to be valued under the said law of one thousand seven hundred and seventy seven, ber fore recited, according to the principle and under the rules prescribed by this act, upon which said valuation, an account of which shall be returned to the commissioners by the first day of November following; the said three payments of the tax called for by this act, shall be regulated and assessed, and by the said commissioners of the tax ordered to be collected. Provided, That the said assessors shall, in the months of March and August immediately preceding the second and third payment of the said tax, call on each person within their district for an account of brandy and spirits distilled since the last account thereof rendered; and also for a distinct account of the specie and of the par per money as before directed to be accounted for, which accounts together with any change of property, by transfer, by accident, by increase or decrease, or by the alteration in the number of free taxables, shall by the persons to whom they may respectively happen,

collector

be rendered to the said assessors on oath, who shall make application for that purpose, which accounts shall be returned to the commissioners, in the second instance, by the first day of April, and in the third, by the first day of September. And from the returns so made by the said assessors, the commissioners shall Sheriff or adjust the accounts and orders for collecting the said when to disthree payments respectively, and shall make out for train, the sheriff or collector, a list formed from such returns as a direction for his collection according to the said act of one thousand seven hundred and seventy seven, who shall and may distrain for all taxes imposed by this act, both for sinking the old money and for establishing funds on which to emit the new within twenty days after the same shall become due and payable, and shall, within twenty days thereafter, make up and render to the said commissioners an account of his said collection, who shall, within thirty days after receiving the said account so made up and rendered, return to the auditors an account of the said settlement, to enable them to adjust the dues and balances of the said sheriffs or collectors. And the said several sheriffs and and account. collectors shall also be called to account for the said taxes according to the laws now in force to enforce the payment of the present taxes. If the said commissioners, or any of them, shall refuse to act, the county court be returned shall fill up vacancies as directed by the laws now in by commisforce, who, thus chosen or appointed, shall, with their sioners to clerk, have and be allowed twenty pounds per day the auditors. each, for every day they shall be employed in the said business, of the money now in circulation, for their trouble and expenses; and may also, at their discretion, make an allowance unto each of the said asses- to commissors, a sum not exceeding two hundred pounds, and sioners and not less than one hundred pounds of the like money, their clerk; as a recompence for making the said general assessinent in the month of October next; and may also make to the said assessors, an allowance, not exceeding eight to the assespounds per day of the like money each, for every day which it shall appear to the said commissioners by the oath of the said assessor or otherwise, that he was actually employed in the months preceding the said second and third payments, in collecting returns and affidavits of the several alterations which may have happened in his district.

Accounts to

Allowance

sors.

called in to be burnt.

ted for the purposes of this act, 1,

cent interest

V. And be it farther cnacted, That the money, both The money state and continental, called in by all and every of the funds and taxes above established shall not be reissued, but shall remain in the treasury to be burnt and destroyed; and that whatever sums of the like money shall by any other means be paid into the treasury, after the money hereafter to be issued under the resolutions of congress shall be ready for the purpose, the same shall remain in the treasury to be also burnt and destroyed. And in order to establish a means of defraying the expenditure of government, and also to furnish a circulating medium in lieu of the bills so To be emit called in to be destroyed; Be it farther enacted, That there be emitted on the funds herein after provided, and the faith of the United States as pledged by their 666.666 2-3 said resolutions of the said eighteenth day of March dollars, bear- last, a sum not exceeding the sum of one million six ing 5 per hundred and sixty six thousand, six hundred and sixty six and two thirds dollars, in bills of credit, bearing an annual interest of five per centum upon the funds of this commonwealth, the same being one twentieth part of thirty three millions, three hundred and thirty three thousand, three hundred and thirty three and one third dollars, hereby to be redeemed and destroyed as this commonwealth's quota of the said two hundred millions of dollars heretofore issued by congress. The face of the said bills, and the endorsement thereon shall be in the manner and words as is directed by When re- the said resolutions. The said new bills thus to be isdeemable. sued shall be redeemable in specie by the said thirty first day of December, one thousand seven hundred and eighty six; and the interest thereon shall be paid, either on the redemption of the said bills, or annually, at the election of the holder, according to the said resolutions of congress, and the promises in the face of the said bills: The said bills to be emitted shall be the issuing completed no faster than in the proportion of one to twenty of the present circulating continental money brought in to be destroyed, in lieu of every twenty dol lars of which money so destroyed, shall issue one dollar according to the said resolutions: for the preparing and signing of which, the governour shall, with the advice of his council, appoint proper persons in conjunction with commissioners to be appointed by congress to attend the completing the same, and to so

Interest to

be paid an nually.

Restraint on

the bills.

Their ap

To redeem

these bills and pay the

perintend the burning and destroying of the old money hereby called in and redeemed. As fast as the said new bills to be emitted shall be completed, six tenths of the same in value shall be received into the propriation. treasury of this commonwealth, to be thence issued as before directed, to support the expenses of the war and defray other publick charges; the other four tenths shall be subject to the orders of congress and carried to the credit of this commonwealth, in proper accounts to be opened and stated in the auditors books. And whenever interest on the said bills to be emitted shall be paid prior to the time of their final redemption, such bills shall be thereupon exchanged for other bills of the like tenour, to bear date from the expiration of the year for which such interest is paid, and then burnt and destroyed; and the commissioners to be appointed on the part of this state, are hereby authorized to join with the said commissioners of congress in completing such other bills for that purpose. And for effectually sinking or redeeming the said new bills of credit, and paying the interest thereon, which may be due from this commonwealth at the period prefixed for interest; their redemption, It is farther enacted, That a tax of 107,0001. to one hundred and seven thousand pounds (exclusive of be raised anall charges of collection and losses by insolvency or five years. nually for otherwise) shall be annually paid and collected from the last day of December, in the year one thousand seven hundred and eighty one, for and during the term of five years. And that the sum of seven thousand pounds thereof shall be annually retained and pre- interest. served in the treasury in specie, if so much specie shall be received in each year, or otherwise in the said bills of credit, or in the said hereafter enumerated commodities, to be exchanged for specie, or for the said new money, which shall be received in any of the said years, and shall be applied to the payment of the interest due from this commonwealth on the said money so to be emitted. Provided, That if any of the said bills shall be retained in the treasury for the payment of the said interest, over and above what are annually to be destroyed, the same shall, on being replaced by specie, be reissued. The remaining one hundred thousand 100,0001. for pounds of the annual product of the said tax shall, if sinking the paid in the said bills so to be emitted, be annually canprincipal. celled and destroyed, if paid in whole or in part in

VOL. 8.

G 2

70001. for the

one per centum on all

specie; the said specie shall be retained in the treasur for the final redemption of such of the said bills of credit as may remain outstanding at the period of redemption; and if paid in the commodities hereafter to be enumerated, the governour, with the advice of his council, shall take proper measures for settling the same, either for the said new bills of credit, or for specie, at the best price which can be obtained, and shall take care to pay the product thereof into the treasury, to be applied to the foregoing purposes, in the same manner as if the said tax had been paid therein. And By a tax of in order to raise the said sum of one hundred and seven thousand pounds, It is farther enacted, That a tax assessed pro- or pound rate of one per centum, according to the vaperty. lue, or twenty shillings in every hundred pounds, be laid and levied upon all articles of property before directed to be valued and assessed for the redemption of the money now in circulation; and also the like tax o!! every hundred pounds of specie, and so in proportion for a greater or lesser sum, to be levied and paid, at the rate of one half per centum, or ten shillings for every hundred pounds of such property twice in each and every of the said five years, to wit: On or before the last days of May and September. And that at each and every of the said periods there be also paid for the same purpose, a tax of two shillings for all free male persons above the age of twenty one years, and the same sum for all white servants (except as before excepted in the poll tax herein imposed for calling in the old money.) A tax of three pence per head for neat cattle; a tax of twenty five shillings for all coaches and chariots; of twenty shillings for all phaetons, four wheeled chaises, and stage waggons used for riding carria ges; and of five shillings for all chairs and two wheeled chaises. Also a tax at the rate of ten shillings in the hundred pounds, upon every merchant's or factor's worth, or stock in trade. And a tax of one shilling in the pound upon the annual profits of all publick offices not fixed by certain salaries. All the said taxes to be rated by the assessors, with the right of appeal to the commissioners of the tax, if the party shall be aggrieved or over rated, whereupon the commission. ers, upon the oath of the party or other satisfactory evidence, may alter the rate according to their best judgment and discretion. A like tax of two shillings

Payable a moiety half yearly,

And other taxes.