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of the said one-seventh part of the principal debt, by any of the said borrowers, or other debtors, to. gether with the costs of suit, at any time before judgment is actually obtained, such suits shall
and may be discharged and ended with respect The bor. to such borrowers. And the borrowers and rowers to other debtors, shall be obliged to pay one-fifth fifth of the part of the original principal sum borrowed, and princial, the whole of the interest then due, on the first and the interest,
i Wednesday in March, one thousand seven hunannually. dred and ninety-two, and so on annually until
the whole sum borrowed, with the interest thereon, shall be fully paid and discharged in paper medium or gold and silver; and if the default be made in the payment thereof at any of the times the same is hereby made payable, the treasurer herein after mentioned, shall, on the Wednesday four weeks then immediately following, (having for three weeks previously thereto, advertised the mortgaged property for sale in the gazettes at Charleston and Columbia) expose to public sale to the highest bidder, the whole property so mortgaged or pledged by such defaulters, for ready money in the paper medium, or gold or silver coin current in this state; and the paper medium paid to or recovered by the commis. sioners or treasurer in the manner herein pre. scribed, shall be immediately defaced by them, in such manner as to prevent its future currency, and shall be then delivered to a joint committee of the senate and house of representatives, to be by them burnt, except the interest which will be due and payable on the first Wednesday in March next, which stands pledged to pay so
much of the foreign delt.
c And be it further enacted by the authority eners may aforesaid, That in case any property should be
pro- directed to be sold by the commissioners afore.
said, on account of the proprietor not having perig set complied with the terms of this act, and it shall up for sale. appear clearly and evidently to the said commissioner, that the property about to be sold, will be disposed of so considerably below its intrinsic value, as that the interest of the state will be materially injured thereby, the said commissioners are hereby authorized and empowered to purchase the property so offered for sale, for and on account of the state. .
And be it further enacted by the authority afore- Commis. said, Thatifatany time during the progress of cal- sioners ling in the said paper medium, any of the borrow
eho , obliged to
y receive ers shall choose to pay in the whole sum borrowed, the whole together with the interest thereon, the commissi- se
rowed, if oners shall be obligedto receive the same, and shall offered by deface and deliver the sums paid in, to the joint any bor
* rowers. committee of the scnate and house of representa." tives, to be burnt as in manner before directed.
And be it further enacted by the authority Part of a aforesaid, That the eleventh clause of the act, former act entitled, “ An act to regulate the payment and repea recovery of debts, and to prohibit the importation of negroes for the time therein limited," passed the fourth of November, one thousand seven hundred and eighty-cight, giving an option to purchasers at sheriffs or other officers sale, to make payments in the paper medium or in gold or silver, be and the same is hercby repealed.
And be it further enacted by the authority Until all aforesaid, That until the whole of the said pa- the paper per bills shall be called in and sunk by the ope- iss
is sunk, it ration of this act, they shall pass in payment to ble at the the treasury of this state, in discharge of all debts, and para duties and taxes, which may grow due and pay- ble on civil able to the treasury, and also in payment of the listcivil list expenses, and all the contingent charges of government.
And be it enacted by the authority aforesaid, Public That should any deficiency arise from the failure faith pled- of the borrowers of the paper medium, that the ged in case of defici. public faith be, and the same is hereby pledged ency. to make good the said deficiency.
And be it enacted by the authority aforesaid, When the That the office and salary of the commissioners
ce and of the loan office, shall cease after the first day salary of commissi- of June, one thousand seven hundred and nineoners of ty-one, and that the said commissioners shall loan office
deliver over to the treasurer in Charleston, all the
February, in the year of our Lord one thou-
President of the Senate.
An ACT for establis,ing the mode of granting
the lands now vacant in this State, and for allowing a commutation to be received for some
londs that have been granted. UITHEREAS all the valuable lands in this
state have already been granted, and such as are now vacant will remain so, if the sum of ten dollars in indents be required by the
1784; passed the the
public for every hundred acres thereof, and no taxes will be paid for the same:
Be it therefore enacted by the honorable the Senate and House of Representatives, now met and sitting in General Assembly, and by the authority of the same, That so much of the first parts of and second sections of an act, entitled, “ An act former for establishing the mode and conditions of surveying and granting the vacant lands within this state," passed the twenty-first day of March, 1784; and that so much of the first section of an act, entitled, “ An act to alter and amend an act, entitled, an act for establishing the mode and conditions of surveying and granting the vacant lands within this state, and for other purposes therein mentioned," passed the 24th of March, 1785, as relate to the granting and selling such lands within this state as are now vacant, at the rate of ten dollars for every hundred acres, be, and the same is hereby repealed; and that such vacant lands be granted to any citizens applying for the same, on paying the fees of office.
And whereas, Grants for many thousand acres of land, within this state, have been obtained at the rate of ten dollars in indents for every hundred acres, and some of the grantees have suffered their grants to remain in the secretary's office without applying for them, and where such lands have been put up for sale by the treasurers, on account of the non-payment of the said ten dollars per hundred acres, the sums produced by such sales were very triling:
Be it therefore enacted by the authority afore- Lands said, That where lands have been so granted and gra
and not rehave not been re-sold by the treasurers, it shall sold, shall and may be lawful for the treasurers, and they be paid for
at 4s. 8d. are hereby required, on receiving four shillings for every and eight pence specie or paper medium from 100 acres.
the grantees of the said land, for crery hundred acres thereof, in licu of ten doilars in indents, to give the grantee paying such commutation a discharge for the same, and an order on the secretary of state to receive his grant on paying the fees; and the said secretary is hereby required, on receiving such order and payment, to deliver the grants to the grantees respectively, who shall be so entitled to them.
und be it further enacted by the authority Grants not aforesaid, That all grants of land in the secretatuken out ry's office, and which shall not be taken out with
fire in tv:eive months from the passing of this act, months, lands to be then sold to the highest bidder by the combe sold. missioners of the treasury.
And be ii further enacted by the authority Where aforesaid, That where any person or persons payments have paid aggregate sums into the treasury, as have been
ade in." a portion or part of the purchase money due to definitely, the state for divers tracts of land, without ascerto sell such
taining the particular tract or tracts which they lands as would be understood so to have paid for ; that in they judge all such cases the commissioners of the treasury proper.
may sell such tract or tracts, or as much thereof as may be sufficient to make up the balance due to the state, as have been granted to such person and are not paid for, as they may think proper, at public sale, under and by virtue of this act.
And be it firiher enacted by the authority The go- oforesaid, That the governor for the time being, vernor be, and he is hereby authorized and empowered may ap. point com- to appoint a proper person as commissioner of inissioners locations in each of the location districts in this
state; which commissioner shall observe all such regulations as are by law established for regulating the mode and conditions of surveying and granting the vacant lands in this state,