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EXCAANGE, in law, is a mutual grant of In this court suits are generally equal interests, the one in consideration brought for tythes, although the Court of the other; and upon such a convey of Chancery also exercises considerable ance, no livery of seisin, even of free- jurisdiction in that respect. The Exchehold, is necessary to perfect it: for each quer is also divided into the court for juparty stands in the place of the other, dicial business; and the other, the reand occupies his right, and each of them ceipt of the Exchequer, in which the achath already had corporal possession of counts of the revenue are kept, and the his own land. But entry must be made money is received : in this branch of the on both sides ; for if either party die be- Exchequer there are several officers; fore the entry, exchange is void for such as two chamberlains, the controller want of sufficient notoriety.
of the pipe, the clerk of the estreats, the Both the estates exchanged should be foreign opposer, the auditors, the four equal. But not equal value, but only in tellers, the clerk of the pells, clerk of the kind and manner of the estate. the nichils, &c. By stat. 23 Geo. III. c.
EXCHANGE-re, is when the holder of a 82, the offices of the two chamberlains, bill finds it not paid by the acceptor, tally-cutter, usher, and second clerks to then it becomes necessary to draw other each teller, shall, after the death of the bills upon the parties, which create ex present officers, be abolished ; and inchange, and the exchange paid upon stead of tallies, indented cheque receipts that transaction is, by the usage of mer are to be used: also after the death of chants, chargeable upon the preceding the auditor, clerks of the pells, four telparties to the bill, by way of re-ex lers, and two chamberlains, their fees change.
shall be abolished, and their salaries be EXCHEQUER, from the French, esche. fixed. quier, i. e. abacus tabula lusoria, is a court EXCHEQUBR chamber. This court has of law and equity, established by William no original jurisdiction, but is merely a the Conqueror, as a part of the aula court of appeal, to correct the errors of regis, though regulated and reduced to other jurisdictions, and consists of the its present state by Edw. I. and intended Lord Chancellor, the Lord Treasurer, principally to order the revenue of the with the Justices of the King's Bench crown, and to recover the King's debts and Common Pleas. In imitation of this, and duties. The court consists of two a second court of Exchequer chamber divisions, viz. the receipt of the exche was erected by 27 Eliz. c. 8, consisting of quer, which manages the royal revenues; the Justices of the Common Pleas, and and the judicial, which is again subdivid- the Barons of the Exchequer, before ed into a court of equity, and a court of whom writs of error may be brought to common law. The court of equity is reverse judgments in certain suits, comheld in the Exchequer, before the Lord menced originally in the court of King's Treasurer, the Chancellor of the Exche. Bench. Into the Exchequer chamber quer, the Chief Baron, and three puisne are sometimes adjourned, from the other Barons. The primary and original busi- courts, such causes, as the judges, upon ness of this court was, to call the King's argument, find to be of great weight and debtors to account, by bill filed by the difficulty, before any judgment is given Attorney General, and to recover any upon them in the court. lands, tenements, or hereditaments, EXCHEQUER, Chancellor of, is, in Great goods, chattels, or other profits, or bene. Britain, the officer to whom the arrangefits, belonging to the crown; but now, ment of the financial concerns of the by a fiction of law, suggesting that the country is chiefly entrusted. He causes party is a debtor of the King, and is less accounts to be annually laid before parable to pay his debt, unless he has the liament of the produce of the taxes, with aid of the court to recover of his own estimates of the several branches of pubdebtor, any person may be admitted to lic expenditure for the ensuing year; sue here. An appeal from the equity and if the amount of the estimated ex. side of this court lies immediately to the penditure exceeds the probable produce House of Peers; but from the common of the revenue, he adjusts the extent and law side, pursuant to 31 Edw. III. c. 12, conditions of the loan with such persons a writ of error must first be brought into as are willing to advance the same, and the court of exchequer chamber, whence proposes to parliament the new taxes appeal lies to the house of Lords. The which become nesessary for paying the exchequer, as a court of law, is the last of interest on the money thus borrowed. the courts.
On the foundation of the accounts and
estimates submitted to parliament, parti- they were issued; those at present cular sums are voted for the several (1808) in circulation bear interest at the branches of the expenditure, and where rate of 31d. a day per cent. They are the ways and means of raising the whole frequently made out for 1001. each, but sum wanted have been determined, an those issued of late years have been act is passed, appropriating the specific chiefly for 10001. each, and they have sums to the various articles forming the sometimes been made for much larger supplies which have been granted. In sums; they are numbered arithmetically, order to provide against any unforeseen and registered accordingly, for the purexpences, it is usual to grant also a cer pose of paying them off in regular course, tain sum, unappropriated to any particular the time of which is notified by public purpose, to be applied to any branch of advertisement. the expenditure in which there may be The daily transactions between the occasion for it; this is called a vote of Bank and the Exchequer are chiefly car. credit, and has increased in amount with ried on by these bills, which are depositthe progress of the supplies; in the ed by the Bank in the Exchequer, to the American war it was 1,000,0001. per an amount of the sums received by them num, of late it has generally been on account of government; the bank 2,500,0001. Soon after the commence notes and cash thus received by the ment of each session, an account is laid Bank being retained by them, as the debefore the House of Commons, shewing tail part of the money concerns of go how the money given for the service of vernment is all transacted at the Bank. the preceding year has been disposed of, The instalments on loans are paid into and what part thereof remains unpaid. the receipt of the Exchequer in ExIf the ways and means have fallen short chequer bills, which are received again of the sum they were expected to pro- by the Bank as cash, either for the duce, the deficiency is made good as an amount of dividends due, or in repay. article among the next year's supplies. ment of advances.
EXCHEQUER bills, bills or tickets issued When these bills sell at a considerable by the Exchequer, payable out of the discount, or any other circumstance inproduce of a particular tax, or generally dicates that the quantity of them in cir out of the supplies granted for the year, culation is too great, the usual expedient and receivable in all payments to the ex. is to fund a part of them; that is, to conchequer. The first bills of this kind vert them into a permanent debt, by ofwere issued in 1697, as a more conveni. fering the holders of them stock in lieu ent kind of security than the tallies and of their bills; this was done in October orders for repayment then in use, and 1796, in November 1801, and again in were partly intended to supply the want March 1808. The total amount of Es. of money during the recoinage then un chequer bills outstanding on the 5th of dertaken. With this view, many of them January 1807, including 3,000,0001. held were made out of small sums, as low as 101. by the Bank, pursuant to an agreement and 51. each; and though they bore no in- for the renewal of their charter, was terest when first issued, upon being re-is. 27,207,1001. sued, after having been paid into the Ex EXCHEQUER, black book of the, a book chequer upon any of the taxes, they car. containing a description of the court of ried interest at 5d. a day percent. equal to England in 1175, and its officers, with 71. 128. 1d. per cent. per annum.
These their ranks, wages, privileges, perquibills being regularly discharged, other sites, &c. also the revenues of the crown, sums soon raised on similar securities, both in money and cattle. and their credit becomiug established, EXCISE duties, inland taxes on comthey have ever since been used for antici- modities of general consumption. This pating the produce of particular taxes, and mode of taxation, having been always have almost constantly formed the prin found very productive, has been adopted cipal article of that part of the public by all the European governments, and debt called the unfunded debt. Of late by some of them has been extended years, the total amount of outstanding even to the necessaries of life; but, in Exchequer bills (exclusive of those general, the articles subjected to it have charged on specific branches of the re been such as are not absolutely essential venue) has usually been about twelve to subsistence. Salt appears to have millions. The interest payable on them been the object of an excise duty at a has been at various rates, according to very early period; in later times, oil, the current rate of interest at the time wine, tobacco, and various other con
sumable articles, have been burthened sary for the public service, formed a prowith duties of this description.
ject for the gradual abolition, not only of Excise duties were first established in the taxes on land, houses, and windows, England in 1643, when the long parlia- but likewise the customs, by the substiment laid a tax on beer and ale in all the tution of prorluctive excise duties. He counties within their power; and the was infuenced in the formation of this king's parliament, then sitting at Oxford, scheme by a knowledge of the gross and imposed the like taxes on all within their shameless frauds then daily practised in power, by which means these new du- the collection of the customs; and which, ties, called excise, became general. It from the very nature of those frauds, is supposed that the plan was originally and the extreme facility of committing adopted, in consequence of its success in them, he had no hope to remedy: he the neighbouring commonwealth of Hol- thought, therefore, that to convert the land. it was at first laid upon liquors greater part of the customs into duties only; and it was solemnly declared, that of excise, would be equally advantageous at the end of the war all excises should to government and to the fair trader; be abolished; but the contest continuing and that the excise laws might be so ame. longer than was expected, this obnoxious liorated, that, notwithstanding the odium mode of levying money was extended to generally attached to them as oppressive bread, meat, sali, and many other articles. and arbitrary, no just ground of com. The excise on bread and meat was after. plaint should remain. With a view, wards repealed.
therefore, to the execution of this plan, In the year 1660, two duties were im- he obtained a revival of the salt duties, posed on English ale, amounting to 28. which had been repealed some years be6d. per barrel of strong, and 6d. per bar- fore ; but upon proposing, in the followrel of small beer ; à duty of 2d. per gal- ing year, to transfer the duties on wine lon was also imposed on home-made spi- and tobacco to the excise, so much cla. rits. These duties were farmed till the mour was raised against the measure, year 1684, when they were put under that the minister, after some perseve. the management of commissioners. For rance, thought it prudent to relinquish a considerable time they yielded a reve, this favourite project. The defeat of this nue that was gradually increasing, and scheme was celebrated by general rewhich amounted, in the year ending joicings, as a deliverance from the greatmidsummer 1688, to 786,9151. 12s. 70. est political danger : had it succeeded, Soon after the revolution several tempo. between four and five millions a year rary duties were imposed on beer and would bave been raised under the excise ale : and in 1694, the established duties system, in addition to the excise duties were 48.9d per barrel on strong, and 18. then subsisting by the various duties 3d. per barrel on small beer; the aug. which at different times have been since mentation of the revenue was not, how. imposed, upwards of fifteen millions a ever, proportionate to the increase of the year is now raised under the excise, in duties, which was attributed by Dr. Dave. addition to the amount of this branch of nant 10 improper management, but pro- the revenue at the above period. bably arose, in part at least, from the in The several commodities now subject creased temptation to evade the duties. to excise duties are, ale and beer, cyder,
Various additions to the original duties perry, mead, British and foreign spirits, were made at subsequent periods, and wine, vinegar, verjuice, malt, hops, salt, the excise being extended to candles,soap, soap, starch, candles, coffee, tea, tobacco, starch, bides, and other articles, it be- and snuff, bricks and tiles, glass, hides came one of the most productive branches and skins, paper, printed goods, and of the public revenue; the gross pro- wire. The various rates of duty which duce, in the year 1732, being 2,964,6171. had been imposed at different times About this time Sir Robert Walpole, were consolidated in the year 1787, when who was of opinion that taxes on con other regulations were also adopted, by sumable commodities, to which every which the produce of the revenue was citizen contributes in proportion to his augmented, and the expense of collect. consumption, and which being included ing it materially reduced, as appears from in the price of the commodity, are in. the rate per cent. which the expenses of sensibly paid, constituted the most eli- management amounted to in the followble mode of raising the revenue neces- ing years. VOL, Y.
Gross Receipt. Rate per cent. dered it necessary to impose, have great-
L. 8. d. 1789
ly increased the produce of the excise, 8,418,611 5 10 0
and rendered it the most important 1790 9,054,850 5 11 0
branch of the public revenue. The du. 1791 9,808,908 5 0 4
ties which it comprehends are divided 1792 10,113,867 4 19 10
into the permanent consolidated duties, 1793 9,412,487 5 5 7
the temporary war taxes, and the annual 1794 9,964,293 5 0 4
duties; the latter consist of the old an. 1795 . 10,866,170 4 13 11
nual malt duty, and of an additional malt 1796 10,960,425 4 12 1
duty, which, with some duties on tobacco
and snuff, and some custom duties, have, The additional duties which the pro- since the project for selling the land tax, gress of the public expenditure has ren- been granted annually in lieu thereof. Total gross produce of the Excise Duties in England, in the year ending the 5th
of January, 1807.
d. 249,891 14 17 2,971,351 15 74 306,661 10 04 311,449 48 124,178 5 7
19,772 5 13 424,786 3 91 311,322 17 1
56,339 15 23 301,083 17 111 1,388,130 8 87
161 8 9 359,158 5 51
698,373 17 8 1,470,704 13 2
586,564 5 71 1,201,200 19 11 1,772,866 14 53
60,025 14 03
24,771 067 1,280,751 16 81 196,188 10 101
38,024 14 7} 1,149,313 8 73
13,388 9 11
210,292 7 31 2,713,173 10 83 1,473,936 6 111
4,483 12 31 1,313,664 13 74 162,342 18 101
Old malt duty.
676,810 12 03 1,115,491 1 9 428,140 4 91
L.23,414,796 6 77
The balance of cash at the commence. ties on several commodities, annual payment of the year being 27,7901, 38. 31d. ments to the officers of the late wine liadded to the above sum, makes the total cence office and of the old salt duties, to be accounted for 23,442,5861. 98. 11d. and pensions granted by patent out of the This amount is subject to various deduc- excise, while it formed part of the heredi. tions, consisting principally of the expen- tary revenue of the crown. The amount ses of management, drawbacks of duty of these payments in the year ending the on goods exported, allowances and boun 5th of January, 1807, was as follows:
The total gross produce of the excise securities : and the certificate containing duties in Scotland, in the above year was, these particulars, and written by himself, 1,824,3941. 08. 6 d.; of which the sum of must be signed by the supervisor of the 1,445,0001. was paid into the exchequer district where he lives, and accompanied during the year. The total gross produce with an affidavit that he has used no bribes of the excise duties in Ireland, for the for obtaining the office. same year, was 1,453,5001. 08. 2d.
Excise, in law, is an inland imposition, The excise duties of England are under sometimes paid upon the consumption of the management of nine commissioners, the commodity, or frequently upon the with salaries of 12001. per annum each; retail sale, which is the last stage preand they are sworn to take no fee or re vious to the consumption. For more easiward but from the king only. From these ly levying the revenue of the excise, the commissioners there lies an appeal to five kingdom of England and Wales is divided others, called commissioners of appeals. into about fifty collections, some of which The commissioners of excise in Scotland are called by the names of particular are five in number, and have salaries of counties, others by the names of great 6001. per annum each. The number of towns; where one county is divided into officers employed in collecting this branch several collections, or where a collection of the revenue is very great. Besides the comprehends the contiguous parts of se. commissioners and their subordinate offi. veral counties, every such collection is cers, as secretary, comptrollers, auditor, subdivided into several districts, within accomptants, registers, inspectors, and a which there is a supervisor; and each disgreat number of clerks in the different trict is again subdivided into out-rides departments, there are 24 country exo and foot-walks, within each of which there aminers, 284 supervisors, 2750 gaugers, is a guager or surveying officer. or escisemen, &c. Previous to the ap
The officers of excise are to be appointment of any person to the office of pointed, and may be dismissed, replaced, guager, he must procure a certificate of
or altered by the commissioners, under his age, which must be between 21 and their hands and seals; their salaries are 30; he must understand the four first allowed and established by the Treasury ; rules of arithmetic; be of the communion and by 1 William and Mary, c. 24, s. 15, of the Church of England ; and, if mar. if it be proved by two witnesses, that any ried, not have more than two children; officer has demanded or taken any money, be must nominate two persons to be his or other reward whatever, except of the