41 8 A. D. 1765. 



American colonics "were allowed to fliip their iron * for Ireland, and 

 their lumber for Ireland, Madeira, the Azores, and any part of Europe 

 to the fouthward of Cape Finifterrc, as well as to Great Britain. 

 [5 Gn. Ill, c. 45 



Foreign-manufadurcd filk (lockings, filk mitts, and filk gloves, were 

 prohibited to be imported after the 24th of June 1765 ; and the prohi- 

 bition of the importation of ribands, laces, and girdles of filk, enacted 

 by Henry VII, was now enforced by a heavier penalty. [5 Geo. Ill, 

 c. 48.] 



The banks in Scotland, in order to guard againft the diflrefs of a run 

 upon them, ufed to infert in their notes, what was called an optional 

 clauje, whereby they referv-ed a power of poftponing payment for fis 

 months, and paying intereft from the day of the demand. But the op- 

 .tion being complained of, as perverting fuch paper from being a fubfti- 

 tute for current money f, it was enacled, that, after the 15th of May 

 1 766 all bank notes fhould be made payable on demand, except poft-bills, 

 which, as before, may be made payable feven days after fight. An- 

 other, and a much greater, abufe had alfo crept in, which was, that notes, 

 called bank notes, for ten {hillings, five fhillings, &c. were iffued by 

 obfcure pcrfons in many villages in Scotland, which almoft entirely 

 banilhed filver out of the circulation. To put a flop to this evil, all 

 notes under twenty {hillings were prohibited to be current after the ift 

 •f June 1765. [5 Geo. Ill, c. 49.] 



All the laws, hitherto m.ade for regulating the flreets of London, be- 

 ing found defcf^ive, a new act was pafled, giving larger powers to the 

 coramiffioners, and extending them to the Surry fide of Weflminfler 

 bridge. [5 Geo. Ill, c. 50.] 



The feveral laws for regulating the manufachire of v.-oollen cloths in 

 the wefl riding of York-fhire were repeated ; and the juflices of that 

 riding (not being themfelves concerned in the woollen trade) were di- 

 reded to appoint men of good character, bred to the woollen manufac- 

 ture, to inipecl, meafure, and feal, all cloths at the falling mills, and to 

 keep a proper regifler of the cloths and the makers : and the clothiers 

 were moreover directed to put their names and refidence in the end of 

 every cloth, woven or fewed in plain legible letters. [5 Geo. Ill, c. 51.] 



June I'- — In confequence of thepurchafe of the fovereignty of Mann, 

 formal polTeflion was taken for the king, by hoifling the Britiih colours a» 



* When the encouragement of the American though it is not thirty miles from Carlile, where 



iron was under conGJcration, tlic manufaftureis of the txciiange with London was at par. In Car- 



Lon.lon, Birmingham, Wolverhampton, &c. gave lile bills were paid in gold and Clver, but in Dum- 



•rider.ce, that it was in all refpceu equal to the fries in notes of the Scottish banks, which the un- 



SweJira iron for ev:ry purpoi'e. certainty of getting them immtatatciy changed fo» 



■{• In the year 176^, 1763, 17G4, when the gold or filvrr, i bus degraded four per cent undcB 



abufe of the optional cbufe n-as at the greateft their norninsl \-alue. \_Smilh' t Wialth of nat'wnr. 



height, the exchange between London and Dum- /'. i, ^. 492, *d. 1793.1 3 



(■ !cs was fomctinaes four per cent againd \\.< later, 



