opposition to the court measures. The members of parliament signed an association like that of England. They granted a supply of one hundred and twenty thousand pounds for maintaining their forces by sea and land. They passed an act for securing their religion, lives, and properties, in case his majesty should come to an untimely death. By another, they obliged all persons in public trust to sign the association; and then the parliament was adjourned to the eighth day of December. The disturbances of Ireland seemed now to be entirely appeased. Lord Capel dying in May, the council, by virtue of an act passed in the reign of Henry VIII. elected the chancellor, şir Charles Porter, to be lord justice and chief governor of that kingdom, until his majesty's pleasure should be known. The parliament met in June: the commons expelled Mr. Sanderson, the only member of that house who had refused to sign the association; and adjourned to the fourth day of August. By that time sir Charles Porter, and the earls of Montrath and Drogheda, were appointed lords justices, and signified the king's pleasure that they should adjourn. In the beginning of December the chancellor died of an apoplexy.

§ XXXVIII. King William being tired of an inactive campaign, left the army under the command of the elector of Bavaria, and about the latter end of August repaired to his palace at Loo, where he enjoyed his favourite exercise of staghunting. He visited the court of Brandenburgh at Cleves; conferred with the States of Holland at the Hague; and embarking for England, landed at Margate on the sixth day of October. The domestic economy of the nation was extremely perplexed at this juncture, from the sinking of public credit, and the stagnation that necessarily attended a recoinage. These grievances were with difficulty removed by the clear apprehension, the enterprising genius, the unshaken fortitude of Mr. Montagu, chancellor of the exchequer, operating upon the national spirit of adventure, which the moneyed interest had produced. The king opened the session of parliament on the twentieth day of October, with a speech, importing, that overtures had been made for a negotiation: but that the best way of treating with France, would be sword in hand. He, therefore,

desired they would be expeditious in raising the supplies for the service of the ensuing year, as well as for making good the funds already granted. He declared that the civil list could not be supported without their assistance. He recommended the miserable condition of the French protestants to their compassion. He desired they would contrive the best expedients for the recovery of the national credit. He observed, that unanimity and despatch were now more than ever necessary for the honour, safety, and advantage of England. The commons having taken this speech into consideration, resolved that they would support his majesty and his government, and assist him in the prosecution of the war: that the standard of gold and silver should not be altered: and, that they would make good all parliamentary funds. Then they presented an address, in a very spirited strain, declaring, that notwithstanding the blood and treasure of which the nation had been drained, the commons of England would not be diverted from their firm resolutions of obtaining by war a safe and honourable peace. They, therefore, renewed their assurances, that they would support his majesty against all his enemies at home and abroad. The house of lords delivered another to the same purpose, declaring, that they would never be wanting or backward, on their parts, in what might be necessary to his majesty's honour, the good of his kingdoms, and the quiet of christendom. The commons, in the first transports of their zeal, ordered two seditious pamphlets to be burned by the hands of the common hangman. They deliberated upon the estimates, and granted above six millions for the service of the ensuing year. They resolved that a supply should be granted for making good the deficiency of parliamentary funds; and appropriated several duties for this purpose.

§ XXXIX. With respect to the coin, they brought in a bill, repealing an act for taking off the obligation and encouragement of coining guineas for a certain time, and for importing and coining guineas and half guineas, as the extravagant price of those coins, which occasioned this act, was now fallen. They passed a second bill for remedying the ill state of the coin; and a third explaining an act in the preceding session, for laying duties on low wines and

spirits of the first extraction. In order to raise the supplies of the year, they resolved to tax all persons according to the true value of their real and personal estates, their stock upon land and in trade, their income by offices, pensions, and professions. A duty of one penny per week, for one year, was laid upon all persons not receiving alms. A furher imposition of one farthing in the pound per week was fixed upon all servants receiving four pounds per annum, as wages, and upwards, to eight pounds a year inclusive. Those who received from eight to sixteen pounds were taxed one halfpenny per pound. An aid of three shillings in the pound for one year was laid upon all lands, tenements, and hereditaments, according to their true value. Without specifying the particulars of those inpositions, we shall only observe, that in the general charge, the commons did not exempt one member of the commonwealth that could be supposed able to bear any part of the burden. Provision was made, that hammered money should be received in payment of these duties, at the rate of five shillings and eight-pence All the deficiencies on annuities and moneys per ounce. borrowed on the credit of the exchequer were transferred to this aid. The treasury was enabled to borrow a million and a half at eight per cent. and to circulate exchequer bills to the amount of as much more. To cancel these debts the surplus of all the supplies, except the three-shilling aid, was appropriated. The commons voted one hundred and twenty five thousand pounds for making good the deficiency in recoining the hammered money, and the recompense for bringing in plate to the mint. This sum was raised by a tax or duty upon wrought plate, paper, pasteboard, vellum, and parchment, made or imported. Taking into consideration the services, and the present languishing state of the bank, whose notes were at twenty per cent. discount, they resolved, that it should be enlarged by new subscriptions, made by four-fifths in tallies struck on parliamentary funds, and one-fifth in bankbills or notes: that effectual provision should be made by parliament for paying the principal of all such tallies, as should be subscribed in the bank, out of the funds agreed to be continued: that an interest of eight per cent. should be allowed on all such tallies: and, that the continuance of the bank should be prolonged to`

the first day of August, in the year one thousand, seven hundred and ten. That all assignments of orders on tallies subscribed into the bank, should be registered in the exchequer: that, before the day should be fixed for the beginning of the new subscriptions, the old should be made one hundred per cent. and what might exceed that value should be divided among the old members: that all the interest due on those tallies which might be subscribed in the bankstock, at that time appointed for subscriptions, to the end of the last preceding quarter on each tally, should be allowed as principal: that liberty should be given by parliament to enlarge the number of bankbills, to the value of the sum that should be so subscribed, over and above the twelve hundred thousand pounds; provided they should be obliged to answer such bills and demands: and in default thereof, be answered by the exchequer out of the first money due to them: that no other bank should be erected or allowed by act of parliament, during the continuance of the bank of England that this should be exempted from all tax or imposition: that no act of the corporation should forfeit the particular interest of any person concerned therein: that provision should be made to prevent the officers of the exchequer, and all other officers and receivers of the revenue, from diverting, delaying, or obstructing the course of payments to the bank: that care should be taken to prevent the altering, counterfeiting, or forging any bankbills or notes: that the estate and interest of each other in the stock of the corporation should be made a personal estate: that no contract made for any bank stock to be bought or sold should be valid in law or equity, unless actually registered in the bank books within seven days, and actually transferred within fourteen days after the, contract should be made. A bill upon these resolutions was brought in, under the direction of the chancellor of the exchequer: it related to the continuation of tonnage and poundage upon wine, vinegar, and tobacco; and comprehended a clause for laying an additional duty upon salt, for two years and three quarters. All the several branches constituted a general fund, since known by the name of the General Mortgage, without prejudice to their former appropriations. The bill also provided, that the tallies should bear eight per cent. interest:

that from the tenth of June for five years they should bear no more than six per cent. interest: and, that no premium or discount upon them should be taken. In case of the general fund's proving insufficient to pay the whole interest, it was provided, that every proprietor should receive his proportion of the product, and the deficiency be made good from the next aid: but should the fund produce more than the interest, the surplus was destined to operate as a sinking fund for the discharge of the principal. In order to make up a deficiency of above eight hundred thousand pounds, occasioned by the failure of the land bank, additional duties were laid upon leather: the time was enlarged for persons to come in and purchase the annuities payable by several former acts, and to obtain more certain interest in such annuities.

§ XL. Never were more vigorous measures taken to support the credit of the government; and never was the government served by such a set of enterprising undertak

ers.

The commons having received a message from the king, touching the condition of the civil list, resolved, that a sum not exceeding five hundred and fifteen thousand pounds shall be granted for the support of the civil list for the ensuing year, to be raised by a malt tax, and additional duties upon mum, sweets, cider, and perry. They likewise resolved, that an additional aid of one shilling in the pound should be laid upon land, as an equivalent for the duty of ten per cent. upon mixed goods. Provision was made for raising one million four hundred thousand pounds by a lottery. The treasury was empowered to issue an additional number of exchequer bills, to the amount of twelve hundred thousand pounds, every hundred pounds bearing interest at the rate of five-pence a day, and ten per cent. for circula'tion: finally in order to liquidate the transport debt, which the funds established for that purpose had not been sufficient to defray, a money bill was brought in, to oblige pedlers and hawkers to take out licenses, and pay for them at certain stated prices. One cannot without astonishment reflect upon the prodigious efforts that were made upon this occasion, or consider without indignation the enor mous fortunes that were raised up by usurers and extortioners from the distresses of their country. The nation