[The History of England in Three Volumes, Vol.II. by Tobias Smollett]@TWC D-Link book
The History of England in Three Volumes, Vol.II.

CHAPTER V
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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 impositions, 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 eightpence per ounce.

All the deficiencies on annuities and monies 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.


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