THE CASE of the Assignees of the Goldsmiths, FOR THEIR Interest granted to be paid out of the Hereditary Revenue of EXCISE.  
HIS Majesty King CHARLES the Second, having borrowed great Sums of Money of several Goldsmiths and others, did for satisfaction thereof, in April 1677. Grant, and Assure, by Patent under the Great Seal of England, to each of the said Goldsmiths, their Heirs and Assigns, and for the Benefit of their Creditors, an yearly Rent for ever upon the Hereditary Revenue of Excise, equal in value to the Interest of their Debts, after the Rate of Six per Cent. per Annum; with a Clause of Redemption, upon His Majesty's paying the Principal. That before the said Letters Patents were Granted, the Goldsmith's Accounts were exactly stated, and examined with the greatest scrutiny, by the Lord Treasurer, Auditors and other Officers of the Exchequer, whose duty it was to be privy to, and inspect the said Accounts; and after the said Accounts were adjusted and approved, The said Letters Patents were granted: And by Order of the said King, and the Lords of his Council, Copies thereof were ordered to be Printed and Published.  
The Creditors of the Goldsmiths taking notice of the Letters Patents, did deliver up their Bonds and Securities to the said Goldsmiths, and did accept of Assignments from them, for their respective Interest payable out of the Hereditary Excise, which was quarterly paid for several years; and thereupon the Goldsmiths did Assign the far greatest part of their yearly Rent.  
Since the said Letters Patents were granted, the King having therein reserved a Power of Redemption, hath paid several persons their Principal and Interest; particularly Isaac Legouch, Mr. William Chiffinch, Dr. Watson, and several others.  
That in the Reign of the Late King JAMES, only Three Quarters Interest was paid; And afterwards by the Advice of Papists, or other wicked persons, amongst other their Arbitrary proceedings, the Creditors aforesaid were denied payment of what was justly due to them: And it is humbly conceived, that such denial, and stoppage of payment of the said Interest, is manifestly an Invasion of the Property of the Subject, for the following Reasons: viz.  
Because the said Letters Patents are Granted and Secured under the Great Seal of England, which is the best Security our Kings can give to their Subjects; and by which their Majesties have ever been Concluded and Boun●.  
By this Tenure, the whole Magistracy in Church and State hold their great Offices and the vast Emoluments thereof: All the Corporations and Companies of England enjoy their Franchises and Immunities, though Granted to them many Ages ago. By this Security alone, the innumerable Purchases and Grants from the Crown, both Ancient and Modern, as well Abbey Lands, as others, are held to this day without interruption: And the said Security which the King hath given to the Goldsmiths and their Assigns for this Debt, is of the same validity with those.  
The King did make this Settlement upon a valuable Consideration of Money really lent to, and received by His said Majesty, from his Subjects; Which receipt of Money the King doth expressly acknowledge and affirm in the said Letters Patents; And therefore the King had an adequate and proportionable Compensation for this Settlement, and so could not be deceived in His Grant.  
The said Letters Patents were made in satisfaction for Moneys lent by the Subjects to the King upon the Credit and Invitation of a certain Statute-Law made in the 19th Year of His said Majesty's Reign, King CHARLES the Second: Entitled, An Act for the Assigning Orders in the Exchequer without Revocation. Wherein it is Enacted, That every Person, to whom any Moneys shall be due in His Majesty's Exchequer, and that hath there any Order registered for the payment thereof out of any branch of His Majesty's Revenue, may assign his Right and Title in such Order; And thereupon his Assignees shall be entitled to the benefit of such order and payment thereon: And the Goldsmiths, and their Assigns, are within all the Qualification required in the said Statute; And so the said Settlement is pursuant to an Act of Parliament, and in maintenance of a Common Faith and Warranty given by the whole Nation for the satisfaction of this Debt; And therefore valid in Law. Which Law was revived in the late King JAMES 's Reign for Seven Years, as a good and wholesome Law.  
The said Letters Patents were made for satisfaction of Money lent to the King by the Subjects upon the Security of Tallies struck in the Exchequer, which is a good Security in that Case to the Subject by the Common Law; And so the said Settlement is in affirmance of the Common Law of England.  
This Security is founded upon that part of the Excise which was granted by the Parliament to the King, His Heirs and Successors: And therefore, as this Case is, The King might legally charge this Hereditary part of the Revenue in perpetuity, for satisfaction of the said Moneys so to him lent as aforesaid.  
By the express limitation of the said Letters Patents, the yearly Rent granted to the Goldsmiths, and their Assigns is to be paid to them without further Warrant, or without any Account, Impressed, or other Charge.  
And by the said Letters Patents the King hath expressly covenanted for Himself, His Heirs and Successors, That if at any time hereafter any Defect or Question should be found or made concerning the validity of the said Letters Patents, That in such Case the King, His Heirs and Successors would make such further Grant, Assurance and 〈◊〉, as 〈…〉 said Goldsmiths, their Heirs, and Assigns.  
But by the late Arbitrary and Illegal Denial of Justice, many thousands have been, and will be undone, without speedy Relief.   

LONDON: Printed in the Year, MDCLXXXIX.