They do humbly offer in lieu thereof, that if this Honourable House think fit to make their to be Increased Capital, Redeemable at Midsummer 1724, That the said sinking Fund may till that time be applied half Yearly, to the paying off that part of the Company's which is to carry £5 _per Cent. per Ann._
V. As to the twelfth Article of this Company's former Proposal, Relating to the Circulating of £1,000,000 in Exchequer Bills Gratis, and likewise pay the Interest for that Million, so as no other Exchequer Bills be issued than what shall be Circulated by the Credit of the Exchequer, without the aid of Subscription or Contract.
VI. And Lastly, that this Honourable House may be fully satisfied of the sincere Intentions of this Company to use their best Endeavours to take in all the said Annuities for ninety-nine, and ninety-six Years, which amount to £667,705 8s. 1d. _per Ann._ This Company do further Humbly offer to give and pay into his Majesty's Exchequer, for the Service of the Publick, by four Equal Quarterly Payments, one Years Purchase upon all such of those Annuities as shall happen not to come into the Company's Capital within the time aforesaid.
And whereas this Company is very Sensible, that the Prosperity of the Nation doth greatly depend upon the discharging the Publick Debts (a Motive which Induced them to make the first Propositions of this Publick and beneficial nature) They do Humbly submit these Explanations and Amendments to this Honourable House, flattering themselves that Readiness and Cheerfulness that Ingaged them so much earlier than any other Society, to endeavour to reduce that great Debt under which this Nation is Oppressed, will Intitle them to the favour and preference of this House, since they are willing and do hereby declare they are ready to undertake this great work upon whatever Terms may be offered by any other Company.
By Order of the General Court. JOHN FELLOWS, _Sub-Governour_. CHARLES JOYE, _Dep. Governour_.
+Source.+--_The Case of the Borrowers on the South Sea Loans Stated._ Pp. 1-7. London, 1721.
Since the Parliament has thought it of service to the Publick, that the _unhappy sufferers by the South Sea_ should have Relief: and are at present considering how to give it them: I am persuaded, no one will think it either improper or unreasonable, that the case of the _Borrowers on the Loans_ (who in my opinion are the _most unhappy_ of them all) should be truly stated and made publick.