broken and distributed, or deliver the said plates for stamping the same into the custody of the said Commissioners of the treasury.

A. D. 1777.

cates.

VII. And be it further enacted by the authority aforesaid, That for each sum of money lent to the public upon this Act, the Commissioners Commissioners of the treasury shall give to the lender a certificate, specifying the lend- to give certifiers' names, and extending to his executors, administrators or assigns, the sum lent, the time when lent, when to be paid, and the rate of interest, which said certificate shall be transferable by a short memorandum on the back thereof, under the hand and seal of the owner of the said certificate, in the presence of one or more witnesses.

VIII. And be it further enacted by the authority aforesaid, That the No certificate Commissioners of the treasury shall not give any certificate for a less sum to be issued for than one thousand pounds currency.

less than £1000.

IX. And be it further enacted by the authority aforesaid, That if any person or persons whosoever shall forge, counterfeit or utter any bill or bills to be printed or stamped, signed and issued by virtue of this Act, or any certificate or certificates for monies borrowed as aforesaid by Penalty for counterfeiting virtue of this Act, or any assignment or transfer thereof in imitation, bills or certifilikeness or similitude of any bills of credit or certificates for monies cates. borrowed as aforesaid, or any such assignment or transfer thereof, and directed by this Act to be printed or stamped, signed and issued, knowing the same to be forged or counterfeited, or shall counsel, advise, procure or any ways assist in the counterfeiting, printing, impressing, stamping, signing, or uttering any such bill or bills, certificate or certificates, assignment or transfer, as aforesaid, or that shall furnish or set any printing types, or engrave any plate, or make any other instrument, knowing the same to be intended to be used in making such false or counterfeit bill or bills, certificate or certificates, as aforesaid, that then all and every such person or persons so offending, and being thereof lawfully convicted, shall be adjudged to be guilty of felony, and shall suffer the pains of death as a felon, without the benefit of clergy.

HUGH RUTLEDGE, Speaker of the Legislative Council. JOHN MATTHEWS, Speaker of the General Assembly. In the Council Chamber, the 23rd day of December, 1776.

AN ACT FOR THE REDUCTION of Interest, from eight to sEVEN POUNDS No. 1031.

FOR EACH HUNDRED POUNDS.

WHEREAS, by the constant and uniform experience of all states and nations for ages past, it has been found that a moderate and reasonable interest or annual premium for monies lent on contracts, is productive of the most beneficial effects to a State, by promoting the circulation of specie as a medium of commerce, and rendering the attainment of money easy to the poor and industrious, whereby the honest and laborious, being furnished with the means of labour and industry, are encouraged to pursue their respective employments and arts with diligence and application, and thereby giving rise and progression to the arts, extending and diffusing trade and commerce, advancing and improving agriculture and good husbandry, every occupation becomes flourishing and successful, the strength, wealth, credit and power of a people is supported and in

Preamble.

A. D. 1777. creased, and peace, plenty, liberty and happiness become firmly established amongst them; in order, therefore, to promote ends so beneficial and desirable,

of 7 per cent.

I. Be it enacted by His Excellency John Rutledge, Esq., President and Commander-in-chief in and over the State of South Carolina, and by the honorable the Legislative Council and General Assembly of the said Penalty for exacting interest State, and by authority of the same, That no person or persons above the rate whatsoever, from and after the third day of January, which will be in the year of our Lord one thousand seven hundred and seventy-seven, upon any contract which shall be made from and after the said third day of January, shall take, directly or indirectly, for loan of any monies, wares, merchandizes or other commodities whatsoever, above the value of seven pounds for the forbearance of one hundred pounds for one year, and so after that rate for a greater or lesser sum, or for a longer or shorter time, and so according to that rate and proportion, for goods, wares and commodities lent, to be repaid again in goods, wares, commodities, or in monies; and that all bonds, specialties, contracts, promises and assurances whatsoever, made after the time aforesaid, for payment of any principal or money or goods, wares or commodities as aforesaid, to be lent or covenanted to be performed, upon or for any usury whereupon or whereby there shall be reserved or taken above the rate of seven pounds in the hundred as aforesaid, and so according to that rate and proportion if goods, wares, merchandizes or commodities are lent as aforesaid, shall be utterly void and of none effect; and that all and every person and persons whatsoever, who, after the time aforesaid, upon any contract to be made after the said third day of January, shall take, accept or receive, by way or means of any corrupt bargain, loan, exchange, shift or interest of any monies, wares, merchandizes, commodities, or other thing or things whatsoever, or by any deceitful way or means, for the forbearing or giving day of payment for one whole year, of or for their money or other thing, above the sum of seven pounds for the forbearing of one hundred pounds for one year, and so after that rate for a greater or lesser sum, or for a longer or shorter time, or so after that rate or proportion for other goods, wares or commodities, where such shall be lent, contracted or agreed for, taken, accepted or received, shall forfeit and lose for every such offence the treble value of the monies, wares, merchandizes, commodities, or other things so lent, bargained, exchanged, shifted or taken; the one half of which forfeiture shall be paid to the Commissioners of the public treasury, for the use of the State aforesaid, and the other half to him or them that will inform and sue for the same, to be recovered with full costs of suit in any court of record in this State, by action of debt, bill or plaint, wherein no essoign, wager of law or protection shall be allowed: Provided always, that every such action by bill or plaint as aforesaid, shall be commenced and sued in the lender's life time, and within six months after the offence committed, and at no time after.

II. And whereas, it is to be feared that wicked and evil minded persons, Borrower a for the sake of lucre and unjust gain, will often exact and take greater sufficient wit- usury and higher rates of interest from necessitous persons than is allowed ness in case of by this Act, in hopes that their offences against this Act may not be dis

usury.

covered for want of proof, as such transactions will be generally carried on when only the borrower and lender are present together; for remedy whereof, and preventing or punishing as much as possible all usurious practices for the future, Be it further enacted, That in all cases whatever, after the said third day of January aforesaid, where any suit or action shall be brought, sued or depending in any court of record in this State, touching or

A. D. 1777.

concerning any usurious bond, specialty, contract, promise or agreement, or taking of usury or higher rates of interest than is allowed by this Act, the borrower or party to such usurious bond, specialty, contract, promise or agreement, or from whom such higher rates of interest is or shall be demanded, had or taken, shall be, and is hereby declared to be, a good and sufficient witness in law to give evidence of such offence against this Act; any law, usage or custom to the contrary in any wise notwithstanding. Provided always, that if the person or persons against whom such evi-Proviso. dence is offered to be given, will deny upon oath, in open court to be administered, the truth of what such evidence offers to swear against him, then such witness shall not be admitted to be sworn; and if any witness or party shall forswear himself in any such matter, he and they so doing, and being thereof lawfully convicted, shall suffer all the pains and penalties which by the laws now in force in this State ought to be inflicted on persons convicted of wilful and corrupt perjury.

HUGH RUTLEDGE, Speaker of the Legislative Council. JOHN MATTHEWS, Speaker of the General Assembly. In the Council Chamber, the 2d day of January, 1777.

Assented to: J. RUTLEDGE.

AN ACT for establishing a Ferry over Saludy River, at the lands of No. 1032. Benjamin Cook, on both sides of the river.

(Passed January 16, 1777. See last volume.)

AN ACT for vesting the Ferry over Ashley River in Edward Legge, No. 1033. his executors, administrators and assigns, for seven years.

(Passed January 16, 1777. See last volume.)

AN ACT FOR RAISING AND PAYING INTO THE PUBLIC TREASURY OF THIS No. 1034. STATE THE TAX THEREIN MENTIONED, FOR THE USE AND SERVICE

THEREOF.

WHEREAS, we, the representatives of the free and independent. State of South Carolina, in General Assembly met, have thought it expe- Preamble. dient and necessary that a tax for the sums and in manner hereinafter mentioned should be assessed, raised and paid into the public treasury of this State, for the use and service thereof;

Rates of taxa

I. Be it therefore enacted and declared, by his Excellency John Rutledge, Esq., President and Commander-in-chief in and over the State of South Carolina, by the honorable the Legislative Council and General Assembly of the said State, and by the authority of the same, That the sum of ten shillings current money, per head, shall be levied on all negroes and other slaves whatsoever, within the limits of this State; and the sum of tion. ten shillings per hundred acres on all lands throughout the said State, town lots excepted; and the sum of five shillings for every hundred pounds, on the value of every such town lot, wharf and building, and other lands within the limits of any town, village or borough, in this State, (the bounds of

A.D. 1777. Charlestown to extend from Ashley river to Cooper river, on a direct line with the north side of Boundary-street); and the sum of five shillings on every hundred pounds owing to any person or persons, on bond or other specialty, or note of hand bearing or including interest, over and above what he, she or they pay interest for; and the sum of ten shillings per head on all free negroes, mulattoes and mestizoes, from ten to sixty years of age, who pay no other part of the taxes imposed by this Act; and the sum of five shillings for every hundred pounds, on every person's stock in trade, (that is to say,) wares, merchandizes and book debts of persons in trade, shop-keepers and others; and the like sum of five shillings per cent. on the profits of all faculties and professions, (the clergy excepted,) factorage, employments and handicraft trades throughout this State; to be ascertained and rated by the several and respective assessors and collectors hereafter named, according to the best of their knowledge and information. Provided, that nothing herein contained shall be extended to oblige the new settlers in any part of this State to the payment of any settlers exemp- part of the said tax for their lands granted to them by bounty, who shall make oath before the collector of the tax, in the respective parish or district where such new settler resides, that he settled himself in this State upon the encouragement given thereby, and hath not resided ten years therein; but such new settlers shall pay tax for their slaves and monies at interest, as other inhabitants do.

Land of new

ted from tax.

Taxables to render an ac

property.

II. And be it also enacted by the authority aforesaid, That all persons whosoever, living out of the limits of the parishes of St. Philip and St. Michael, who are possessed of any lands, slaves, or monies for which they count of their receive interest, in this State, (lands whereon any churches or other buildings for divine worship or free schools are erected or built, and all slaves appurtenant to or going with such churches or lands, and all monies appropriated for charitable uses, always excepted,) either in their own right or in the right of any other person, or are liable to pay any other tax by virtue of this Act, shall, on or before the first Tuesday in March, which will be in the year of our Lord one thousand seven hundred and seventyseven, render a particular account thereof in writing, upon oath or affirmation, and in what parish the said lands and slaves are, to the best of his or her knowledge, to the inquirers and collectors for the several parishes and places respectively where the person who is to render such account does live and reside, at such time and place as the said inquirers and collectors, or any of them, shall direct and appoint for the doing thereof, so that the same be done on or before the first Tuesday in March, which will be in the year one thousand seven hundred and seventy-seven; which oath or affirmation shall be in the words following, to wit: "I, A. B., do swear or affirm (as the case shall be) that the account which I now give in is a just and true account of all the lands, slaves, and monies I have upon bond or other specialty, or note bearing or including interest, (which I believe to be good,) over and above what I pay interest for, and which I am possessed of, interested in, or entitled unto, either in my own right, or in the right of any other person or persons whatsoever, as guardian, executor, attorney, agent or trustee, or in any other manner whatever, according to the best of my knowledge or belief; and this I declare, without any equivocation or mental reservation whatsoever: So help me God." Which oath or affirmation the several inquirers and collectors appointed by this Act are hereby fully authorized, enjoined and required to admister.

Oath to be taken.

III. And be it also enacted by the authority aforesaid, That all and every person and persons whosoever, shall be obliged to make return of his or

persons for not

her lands, slaves, or monies at interest, in the country, over and above A. D. 1777. what he or she pays interest for, to the inquirers and collectors for the parish or district respectively where such person lives or resides for the Executions to greatest part of the year, and pay the tax thereon to the said inquirers and issue against collectors. And the inquirers and collectors of all and every the parishes paying taxes. and districts respectively shall be, and they are hereby, authorized, impowered and required to issue executions against all and every person or persons, in their respective districts, who have not paid the just proportion of the preceding taxes.

liable for the

Proviso.

IV. And whereas, there are divers tracts of land, slaves, and monies at interest, in this State, held, owned or claimed by persons not resident here, who pay no taxes or other charges toward the support of the government of this State: Be it therefore enacted by the authority aforesaid, That all Attornies and attornies and trustees of or for any person or persons living without the trustees of ablimits of this State, shall make due and true return to the respective inqui- sent persons, rers and collectors for the parish or district where such attorney or trustee taxes assessed lives or resides, as aforesaid, of all lands, slaves, and monies at interest, on the property of such absenbelonging to such absent persons, for whom they are attornies or trustees, tees. and shall send a copy of such return, certified by the said assessors and collectors, to the assessors and collectors for the parishes or districts where such lands lie; and that such attornies or trustees shall be subject and liable to pay the taxes to become due by virtue of this Act, or which are due by virtue of any former tax Acts, for such land, slaves, or monies at interest, out of his or their own proper estate; notwithstanding such attorney or trustee may renounce or disclaim acting as such before the said tax is levied; unless such attorney shall make oath, before the said collectors respectively, that he hath bona fide renounced his power and attorneyship, before the payment of the said tax becomes due, without having done it only with an intention to avoid the payment of the said tax: Provided always, that if such attorney shall, within one year next after such oath made, again become attorney or trustee for such absent person, or act as such, every such attorney shall be liable to pay the said tax, as is hereinbefore directed, any thing herein to the contrary notwithstanding; and for levying whereof the same remedies shall be and are hereby given, as for levying the tax to become due by virtue of this Act, on the proper estate of such attorney or trustee. And the inquirers and collectors of the several parishes respectively, where any lands lie which are held or owned by any Inquirers and person or persons not resident in this State, whether they have attornies or collectors may not, or where they have received no certificate of the said lands being timber, &c. for lease land, sell returned in any other parish, as aforesaid, or the commissioners of the taxes unpaid. treasury for the time being, shall be, and they are and he is, hereby authorized and impowered, directed and required, to sell and dispose of any timber, lightwood, or any other wood, thereon standing, growing or being, to the amount or value of the tax such lands are liable to pay by virtue of this or any other tax Act; or, after six months notice given in the Gazette for that purpose, to let to farm all or any part or parcel of such lands, without impeachment or waste, to any person or persons whosoever, for any term or time not exceeding twenty-one years, till the rents arising thereby shall be sufficient to pay the said tax and the taxes to be imposed on such lands during the said term, at the election of such inquirers or collectors or the commissioners of the treasury, unless any person shall tender and pay the tax money for such lands before such leases shall be made; and all and every such sale of such timber, lightwood, or other wood, and leases of such lands, as aforesaid, shall be, and they are hereby