[The History of England from the Accession of James II. by Thomas Babington Macaulay]@TWC D-Link book
The History of England from the Accession of James II.

CHAPTER XIX
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A few members declared it to be their opinion that England ought to withdraw her troops from the Continent, to carry on the war with vigour by sea, and to keep up only such an army as might be sufficient to repel any invader who might elude the vigilance of her fleets.

But this doctrine, which speedily became and long continued to be the badge of one of the great parties in the state, was as yet professed only by a small minority which did not venture to call for a division.

[363] In the Committee of Ways and Means, it was determined that a great part of the charge of the year should be defrayed by means of an impost, which, though old in substance, was new in form.

From a very early period to the middle of the seventeenth century, our Parliaments had provided for the extraordinary necessities of the government chiefly by granting subsidies.

A subsidy was raised by an impost on the people of the realm in respect of their reputed estates.


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