TAXES AND CONTRIBUTIONS. 183 



property and income-tax imposed in the previous year. It 

 was found next year that this assessment only yielded .50,000, 

 when, to make up the deficiency, 2\ per cent, was granted 

 on all lands above 2os. per annum, on all personalty above 

 40.5-., and on all wages above zos. In the following year it 

 was found that these means provided only 45,637 i$s. 8d., 

 and a fifteenth and tenth were granted with the ordinary 

 deduction. 



The necessities of the year 1523 were provided for by a 

 perty-tax of five per cent, for two years on the income of 

 nds possessed by natives, ten per cent, from those held by 

 liens, five per cent, on the personal estate of natives, when 

 e value was above 20, and ten per cent, in the case of 

 iens. If these estates were less than 20, the tax was to be 

 o-and-a-half. In the third year a tax of five per cent, was 

 be levied on estates worth 50 a year and upwards. The 

 lea is the hostility of France. In 1534, a fifteenth and a 

 nth are granted in the usual form under plea of the wars on 

 e Scottish border. In the following year the monasteries 

 hose income was under 200 annual revenue were given to 

 e king. In 1539, the remaining abbeys were dissolved, and 

 in 1545 an act was passed, 37 Hen. VIII, cap. 4, by which 

 divers colleges, free chapels, chantries, hospitals, fraternities, 

 brotherhoods, guilds, and endowments for stipendiary priests 

 were vested in the crown. The execution of this act was 

 delayed. 



The subsidy of tonnage and poundage was granted to 

 Edward VI by i Ed. VI, cap. 13, for the king's life, and by 

 the next chapter the guilds were dissolved and their pos- 

 sessions granted to the king. The Colleges in Oxford and 

 Cambridge were exempt from the operation of this act, as were 

 also Companies of Trade, a salvo intended to protect the City 

 companies. There is no exceptional grant on the statute book, 



(uring Edward's reign, till the last year, when two fifteenths 

 nd two tenths were given, a subsidy of 4^-. in the pound of 

 mds and 2s. Sd. of goods. 



