[369] By this memorable law new duties were imposed on beer and other liquors.
These duties were to be kept in the Exchequer separate from all other receipts, and were to form a fund on the credit of which a million was to be raised by life annuities.

As the annuitants dropped off, their annuities were to be divided among the survivors, till the number of survivors was reduced to seven.

After that time, whatever fell in was to go to the public.

It was therefore certain that the eighteenth century would be far advanced before the debt would be finally extinguished.

The rate of interest was to be ten per cent.