.MzE0NQ.MjcyODY

45.

rate of 4. per Cent upon £986,800. to which ye. Million was reduc'd, & yt. Annuity was fix'd upon ye. produce of these licences, & is now ye. only charge upon this fund.

Partly from ye. reduction of 4. to 3 1/2. per Cent. & from an additional duty of 20s. by 24th of G. II. it appears yt. this fund produces a surplus, which has been hetherto taken by Parl. for ye. Supply of ye. year, but ought properly to have gone to ye. sinking fund by ye. General clause in ye. Aggregate Fund, having no special reservation upon it for ye. disposition of Parl.

N. B. ye. raising ye. interest in this transaction from 3. to 4. per Cent, was a most immoderate premium; ye. consideration was getting a Million upon ye. Land tax at 4. per Cent, which was thought difficult at ye. time of ye. Rebellion.

17. Bank's original Fund of 5/7 9d excise. note +See art. 7th /note By an Act of ye. + 5th W. & M. Certain duties upon ye. Tunnage of Shipping was granted for 4. years, from June 1694. & certain duties of Excise yt. is 9d. per barrel