[The History of England in Three Volumes, Vol.II. by Tobias Smollett]@TWC D-Link bookThe History of England in Three Volumes, Vol.II. CHAPTER V 104/145
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 fivepence a-day, and ten per cent, for circulation; 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 pedlars 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 enormous fortunes that were raised up by usurers and extortioners from the distresses of their country.
The nation did not seem to know its own strength, until it was put to this extraordinary trial; and the experiment of mortgaging funds succeeded so well, that later ministers have proceeded in the same system, imposing burden upon burden, as if they thought the sinews of the nation could never be overstrained. {WILLIAM, 1688--1701.} SIR JOHN FENWICK IS APPREHENDED, CONDEMNED, AND BEHEADED. The public credit being thus bolstered up by the singular address of Mr. Montague, and the bills passed for the supplies of the ensuing year, the attention of the commons was transferred to the case of sir John Fen-wick, who had been apprehended in the month of June at New Romney, in his way to France.
He had when taken written a letter to his lady by one Webber, who accompanied him; but this man being seized, the letter was found, containing such a confession as plainly evinced him guilty. He then entered into a treaty with the court for turning evidence, and delivered a long information in writing, which was sent abroad to his majesty.
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