Whereas it was considered necessary by previous resolutions for the better preservation of this Province of New Netherland to repair its ruinous fortifications, to erect some new works, and to strengthen the military of the country which could not be effected without borrowing a considerable sum of money from divers of the good inhabitants of this city, who have advanced the same to the State on promise of repayment; and whereas the present condition of the country in this conjuncture of war, will not only not permit the reimbursement and payment to the creditors of the aforesaid advanced moneys, but moreover demands, for the further support of said garrison, and other public expenses, an additional considerable sum, which it will at present be very difficult to negotiate unless good and sufficient security be given for the moneys already, and yet to be advanced; therefore the Governor-General and Council of war of New Netherland, have decided and resolved, in default of other ready effects, that the pieces of metal cannon hereunder specified, lying in Fort Willem Hendrick, named and weighing as hereafter set forth are, and agreeably to the resolution aforesaid, shall be specially hypothecated, pledged, bound and mortgaged, for the greater security of the repayment aforesaid, to whomsoever have for the support aforesaid already advanced, or will still advance any moneys, wherefore we, the undersigned Governor-General and Council of war of New Netherland aforesaid, by virtue of our commission from their High Mightinesses, the States-General of the United Netherlands, and his Serene Highness the Prince of Orange, &c., do pawn, place and bind the abovementioned pieces of metal cannon, as a special mortgage and pledge as the same are hereby pawned, placed and bound as a special mortgage and pledge to Nicolas Bayard, Secretary and Receiver-General of New Netherland, for security and satisfaction both of the moneys advanced for the behoof aforesaid by him, and which he shall still happen to advance, and which have been by said Receiver Bayard borrowed from divers merchants, or will still be borrowed for the behoof aforesaid; and it is hereby well and expressly stipulated that in case the aforesaid loaned moneys be not paid and deposited on legal notice with said Receiver Bayard, then he shall be at liberty to seize the aforesaid guns in order to reimburse therefrom the said advanced and furnished moneys free of costs and charges, and that it shall be at the absolute choice of the aforesaid Receiver Bayard, in case he cannot agree with the Governor and Council of war on the value of said guns, to ship off and send them hence to Fatherland, to be sold there, and in case said guns in their conveyance to Fatherland happen, contrary to hope, to be lost, the same shall be absolutely at the risk and damage of the State; in which case said Receiver Bayard shall be paid out of the other most available public property for the account aforesaid. In witness of the truth are these subscribed by us and confirmed by our usual signature, in Fort Willem Hendrick in New Netherland, this 12th May, 1674.
