Subject_1 DECISIONS of the LORDS OF COUNCIL AND SESSION, reported by SIR JOHN LAUDER OF FOUNTAINHALL. Subject_2 I sat in the Outer-House this week.
The Directors of the Bank, Petitioners
Date: 11 June 1708
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The Directors of the Bank represent to the Lords, That, by an Act of Privy Council in April last, calling in sundry species of money to be recoined in English pieces, it was recommended to the Lords of Session to see what quantity was brought in to the bank, that they might have allowance of it, conform to the Act of Parliament; seeing it expired the 15th June instant.
The Lords named two of their number to take an inventory of the quantity brought in.
It was objected by some of the Lords,—That the Privy Council, being now dissolved and abolished since the 1st of May last, they could not delegate their power to last and continue after their own was at a period; for, if they could transmit a part, why not the whole? But the Lords thought this was an exigence admitting no delay, without wounding the public faith given to the Bank, for making up their loss and damage, and putting a stop to our mint: and the Queen, being informed, has provided no other method for doing of it: and therefore judged they might warrantably proceed.
