WHereas the Worshipful Company of the MERCERS, London, upon a Proposal made to them by the Reverend Dr. Assheton, did, by a Paper dated the 8th of Febr. 1698. publish and declare in the Words following: That is to say,  By the Wardens and Commonalty of the Mystery of the MERCERS, at Mercers-Hall in Cheapside, London, the 8th Day of February, 1698. 
THE Reverend William Assheton, Doctor in Divinity, Rector of Beckenham in Kent, and Chaplain to his Grace the Duke of Ormond, having out of a Charitable Design, for the Maintenance and Relief of Widows of the Clergy, (which very frequently are left in a poor Condition when their Husbands die) employed his Thoughts to consider of a Way for their Relief and Support; and thereupon thought of a Proposal, in which he includes also others beside Clergymen, viz. Physicians, Lawyers, Merchants, Traders, or any other Persons that shall Subscribe the Sum of 100 l. or more, during the Time of their joint Lives; in case the Husband shall die, and leave his Wife a Widow, that then there should be paid her, during her Life, the Sum of 30 l. a Year per Cent. free of all Charges; at the two usual Feasts of the Annunciation of the Blessed Virgin Mary, and St. Michael the Archangel; and that the Sum to be Subscribed should be limited to 100000 l. And in case the Wife die, during her Husband's Life-time, the same to go to the Benefit of those that did undertake the same.  
The said Reverend Dr. Assheton, considering where the said Subscription-Money might be lodged safely, and reasonable Security given for the due Payment of the Widows, did think it could not be better secured than in the Hands of the Worshipful Company of Mercers, London; and did at a General Court of the said Company, held on Friday the 11th of November 1698, make this Proposal to the said Company; who thereupon appointed a Committee to consider of the same, and what Security the Company could give; which Committee had several Meetings thereupon; and having had several Discourses with Dr. Assheton, and acquainted him what Estate they had to settle for Security, being clear Rents, 2888 l. 8 s. 10 d. per Ann. (besides the Payments by the Benefactors to be paid out of the same;) which, by a moderate Calculation would yield, when the Leases come out, above 13500 l. per Annum clear, as aforesaid; And the said Dr. Assheton judging the same to be reasonable Security, the said Committee made their Report to a General Court the 23d of Decemb. 1698. Which Court having read the Report of the Committee, did suspend their Resolution of the same for that time, and another General Court was appointed to be held the 13th of January following; that so all the Members of the said Company might have time to consider of the said Proposal, and the Report of the Committee thereupon; that so they might the better be enabled to give their Resolutions in the whole Affair; And at the said General Court the Company did accept of the said Proposal. And do hereby publish and declare,  
1. That in case 100000 l. shall be subscribed and paid in to the Company in such manner as is hereafter mentioned; The said Company do undertake to pay unto the Widows of the Subscribers, according to the aforesaid Proposition, 30 l. per Cent. per Annum, free of Taxes and Charges, at the two usual Feasts of the Annunciation of the Blessed Virgin Mary, and St. Michael the Archangel.  
2. That for better Security of the Payments, as soon as the said 100000 l. shall be Subscribed, the said Company will settle and convey in due Form of Law the Lands, Houses and Estate before mentioned, in trusties, for the due payment of the said Annuities.  
3. That all married Clergymen, and other married Persons, Except as hereafter is Excepted, that inhabit in the Kingdom of England, and do not exceed the Age of 60 Years at the time of the Payment of the Money, and receiving the Company's Bond, and are then in good and perfect Health, and have Subscribed any Sum not less than 50 l. nor exceeding the Sum of 300 l. in case they die in the Kingdom of England, and leave their Wives Widows, the said Widows shall receive, as , the Sum of 30 l. yearly for every 100 l. so Subscribed; and so proportionably for a greater or lesser Sum, as .  
4. That every Person at the time of his Subscription (which shall be made in Person) shall express the Place of his Abode, the Name of his Wife, and his and her several Age in such manner as is hereafter mentioned.  
5. That no Person that goes to Sea, nor Soldier that goes into the Wars, shall be admitted to Subscribe to have the Benefit of this Proposal, in regard of the Casualties and Accidents that they are more particularly liable to.  
6. That the Book of Subscriptions shall be laid open at Mercers-Hall on or before the First day of March 1698, and shall continue to the 24th day of June 1699, (in case the 100000 l. be not Subscribed sooner) and Members of the Company shall attend to take the said Subscriptions on Tuesdays, Wednesdays and Fridays every Week during that time, between the Hours of 9 and 12 in the Forenoon, and 3 and 6 in the Afternoon.  
7. That as soon as the said 100000 l. is Subscribed, public Notice shall be given in the Gazette; and all Persons that have Subscribed, are then, within 30 Days next following, to Pay in the Moneys by them Subscribed at Mercers-Hall to the said Company; for which purpose, Members of the said Company shall attend on the Days and Times aforesaid.  
8. That on the Payment of the Money, the Person shall have a Writing under the Seal of the Company, acknowledging the Receipt thereof; and engaging, That if his Wife be left a Widow, she shall receive the Moneys in proportion to his Subscription as before specified; but unless the Money be actually paid within the Time limited, the Widow to have no Benefit by the Subscription; and at the same time the said Person Subscribing, shall give a Bond to the Company, That in case his Wife shall die before him, to give notice to the Company thereof within one Month after her Decease.  
9 That any Widow that shall have Right to receive any Annuity by this Subscription, shall give notice of the Time of her Husband's Death to the Company within one Month after his Decease; and when she comes to receive the Benefit of this Proposal, shall bring a Certificate, Signed by the Minister, Churchwarden or Churchwardens, and Parish-Clerk of the Place where her Husband died and was buried, if her Husband was not a Minister; but if her Husband was the Minister of the Parish where he was buried, then to have the Minister's Hand of the next neighbouring Parish; and the other Hands as .  
10. In case it shall happen that any Man who has Subscribed shall voluntarily make away himself, or by any Act of his, occasion his own Death, either by Duelling, or committing any Crime whereby he shall be Sentenced and put to Death by Justice; in any or either of those Cases his Widow to receive no Annuity, but upon delivering up the Company's Bond, to have the Subscription money paid to her.  
11. In case any Person that shall Subscribe shall not pay in his Money within the Time limited, such Person's Subscription shall be esteemed null and void, and the Company may admit any other Person, duly qualified, to Subscribe in his stead.  
The Form of the Subscription.  
12. I A. B. inhabiting in the Parish of _____ in the _____ of _____ do Subscribe and Promise to pay _____ Pounds on the Terms ; for the Benefit of _____ my now Wife, Aged _____ Years, the Daughter of _____ of _____ in case I die before her:  
The Obligation of the Company.  
13. WE the Wardens and Commonalty of the Mystery of the Mercers of the City of London, do acknowledge to have Received of A. B. Inhabitant in the Parish of _____ in the _____ of _____ the Sum of _____ Pounds, which he hath Subscribed for the Benefit of _____ Aged _____ Years, the Daughter of _____ of _____ his present Wife; And we do promise and oblige ourselves, and our Successors, in case the said A. B. shall Die (Except in such manner as is Excepted in the General Proposal) before his said Wife, and leave her a Widow, to pay unto her, during her Life, the Sum of _____ Yearly, free of all Charges, being 30 l. per Cent. per Annum of the said A. B. his Subscription, at the two usual Feasts of the Annunciation of the Blessed Virgin Mary, and St. Michael the Archangel: The first Payment to be made on the first of the said Feast-days that shall happen six Months or more after the Decease of the said A. B. she producing this Obligation and due Certificates of her Husband's Death. To the which Payment we bind ourselves and our Successors firmly by these Presents. In Testimony whereof, We have hereunto affixed the Seal of the said Company the _____ Day of _____ Anno Dom. 169●  
14. The Bond to be given to the Company, To be of the Penalty of the Sum Subscribed.  
The Condition to be as followeth:  
WHereas the above-bound A. B. hath Subscribed and Paid to the Wardens and Commonalty of the Mystery of the Mercers of the City of London, the Sum of _____ for the Benefit of his present Wife _____ the Daughter of _____ and Received an Obligation from the said Company for the due Payment to his said Wife, of the Sum of 30 l. per Cent. per Annum, in case she survives him, during her Life. Now the Condition of this Obligation is such, That in case his said Wife shall die before him, if he the above-bound A. B. shall within 30 Days after his said Wife's Decease, give Notice to the said Company of her Death, under his Hand and Seal, and deliver up the Obligation he had from the Company; and also if the said A. B. shall remove his Habitation or Dwelling-place, and shall give Notice thereof to the said Company within 30 Days of such his Removal, with the Name of the Place and Parish to which he is removed; And in default of Notice to be given as aforesaid, Then, if the said A. B. his Executors, Administrators or Assigns, shall pay One Pound per Cent. of his Subscription-Money for every Month he shall delay so to do; That then this Obligation to be void, and of no effect, or else to remain in full force.  
AND whereas the Subscriptions upon the said Proposal hath not answered Expectation, and may not without a longer time come up to the Sum proposed; and the Company considering what might be the Reason thereof, do conceive it to be the Uncertainty of the Things taking Effect in the Manner proposed, and that there was no Settlement as yet made; Have therefore at a General Court, held for the said Company, the 16th of June 1699, Resolved, and do hereby publish and declare, That the said Settlement proposed in the former Paper, shall be forthwith settled by able Counsel in the Law, in trusties of undoubted Reputation and Ability, for the Benefit of the Subscribers, that so there might never be a failure; And any of the Persons that have Subscribed, may, if they desire it, have liberty to accompany the Members of the Company to go with them to the Counsel to see the making of the said Settlement; and as soon as the said Settlement is made, Publication shall be made thereof; and those Persons that have Subscribed, are to pay in their Moneys according to their Subscription.  
The Company intent to proceed with Effect as soon as the Settlement is made, and the Money Subscribed paid in.  
And the Company will take Subscriptions at any time hereafter, till such time as the Sum of 100000 l. be Subscribed, but will not exceed that Sum at any one time; And in case of the Death of any Persons, whereby the Subscriptions fall off, the Company will admit any other Person or Persons to Subscribe such Sum or Sums as will make up the said Sum of 100000 l. but never to exceed the same. And after the said Settlement shall be made, every Subscriber is to pay in the Money by him Subscribed at the time of his Subscription.  
The Company have thought fit also to enlarge the Sums to be Subscribed, viz. That all Married Men of the Age of Thirty Years, or under, may Subscribe any Sum not exceeding 1000 l. That all Married Men not exceeding the Age of Forty Years, may Subscribe any Sum, not exceeding 500 l. And that all Married Men, not exceeding the Age of Sixty Years, may Subscribe any Sum, not exceeding 300 l. And the Widows of all Persons Subscribing, according to these Limitations, shall receive the Benefit of 30 l. per Cent. per Ann. according to the former Proposals.  
The Company do also declare, That any Person (under the Limitations ) may Subscribe for the Use and Benefit of any Person or Persons, as such Subscriber shall by his Last Will and Testament direct, during the Natural Life of his Wife, in case she survives him; Declaring in his Subscription, That it is so intended, and such Person or Persons shall receive the Benefit of such Subscription accordingly.  
That the Obligations to be given by the Company shall be made suitable to these Alterations, as well for those that have already Subscribed, as those that shall Subscribe hereafter; and the Bond to be given by the Subscribers shall be only of the Penalty of half the Sum Subscribed by any Person. And whereas in the Company's Obligation, the First Payment to be made to any Widow, or other Person, who should be entitled to any Benefit, by virtue of any Subscription, was, by the said Obligation in the former Proposal, to be on the First of the Feast-days therein mentioned, that should happen Six Months, or more, after the Decease of the Person or Persons so Subscribing; The Company have thought fit, and do hereby declare, That such First Payment shall be made at such of the said Feast-days which shall happen Four Months, or more, after the Decease of the Person or Persons so Subscribing, and the Obligation to be made accordingly.